Global markets opened the week with sharp swings as Middle East tensions and inflation worries rattled risk assets. Iran-backed Houthis attacked Saudi energy facilities, pushing Brent and U.S. crude to just below the $100 mark and adding to inflation expectations. Major U.S. stock indexes fell across the board, with the Dow down more than 1%. The yen surged on prospects of a Bank of Japan rate rise, while copper hit a record high on tightening supply, according to agency inputs.

Escalating tensions in the Middle East have pushed international oil prices close to $100 a barrel after a new round of attacks in Saudi Arabia by Yemen’s Iran-backed Houthis. U.S. stock indexes fell as investors worried that higher energy costs could intensify inflation. Markets are waiting for key inflation data due later this week that could influence Federal Reserve rate decisions. The ongoing U.S.-Iran standoff is still seen as a key factor for market stability and energy prices.

The yen surged on Tuesday, marking its strongest rally in two years as expectations grew that the Bank of Japan could raise interest rates. Oil prices, meanwhile, moved close to $100 a barrel after attacks on energy facilities in the Gulf raised supply concerns. Copper hit record highs as the European Central Bank prepared to lift euro zone rates, adding to global market volatility and forcing investors to reassess strategies amid rising inflation and bond yields.

LME three-month zinc rose to $3,990 per metric ton on Monday, a four-year high, while the cash premium, though down from above $230 last week, remained elevated at $139, pointing to severe tightness. After global zinc mine output briefly rebounded by 4.8% last year, production fell 2.6% year on year in the first half of 2026, reversing earlier expectations of a modest recovery. New International Lead and Zinc Study Group data show global mine output dropped a cumulative 8.6% between 2015 and 2025, reinforcing longer-term supply-side shrinkage risks.

India could enter the 2026-27 sugar season with about 3 million tonnes of opening inventory, the lowest in a decade and enough for roughly 35 days of consumption, according to a DAM Capital Advisors research report cited by ANI. The report pegs 2026-27 sugar production at around 29 million tonnes, but says deficient rainfall and an early start to crushing could weaken final output. It estimates total ethanol demand at around 14.5 billion litres, warning that low stocks leave the market more exposed to weather and firm international prices and could intensify competition between sugar production and ethanol made from cane.

Gold miners posted record profit margins in the first quarter of 2026 as surging prices outpaced rising costs, even as global average all-in sustaining costs climbed 16% year on year to USD 1,785 per ounce, according to the World Gold Council. Newmont reported its highest-ever quarterly free cash flow of USD 3.1bn and approved an additional USD 6.0bn share buyback programme. AngloGold Ashanti generated record free cash flow of USD 1.2bn and shifted from net debt to net cash. Some African operations faced added cost pressure as royalty payments accelerated.

Major U.S. stock indexes fell on Thursday as rising government bond yields weighed on sentiment, while Walmart’s quarterly sales miss added to worries about softer consumer demand. The S&P 500 consumer staples index dropped 1.6%. Amazon and Tesla declined, while Nvidia and Apple rose and offered partial support. Investors also watched the outlook for Federal Reserve rates and inflation pressures linked to higher oil prices.

London’s FTSE 100 fell 0.2% to 10,723.02 in intraday trading on Thursday, while the midcap FTSE 250 slid 0.3%. Sentiment in retail stocks weakened after JD Sports issued a downbeat forecast. A rebound in government bond yields added further pressure on the market.

The U.S. dollar weakened against major currencies on Wednesday as the Treasury selloff eased. Investors awaited minutes from the Federal Reserve’s latest meeting for policy clues, while tensions in the Middle East resurfaced. The euro rose 0.31% to 1.1611, and the yen gained 0.35% against the dollar. A Middle East standoff lifted oil to three-week highs, keeping inflation risks in focus.