Investors are increasing their bets that the Federal Reserve will raise interest rates on Wednesday after a sharp jump in oil prices. The meeting is now considered “live” by market watchers.

Meanwhile, firefighting efforts were stepped up in France and Spain as “violent” wildfires raged close to major cities. The heat‑wave has also pushed developing nations, led by India and South Africa, to plan emergency fuel stockpiles.

On the tech side, U.S. artificial intelligence companies have spent record sums on lobbying in Washington, signalling heightened regulatory scrutiny. The mix of energy shocks and policy pressure is keeping markets on edge.

With so many variables, investors remain split – some favour a hike, others hold. The outcome of the Fed’s decision will shape the week’s market trajectory.