Oil Rises, Intel Surges, USD/JPY Strengthens as Platinum Slides

Global markets showed mixed movements over the past 24-48 hours, with energy prices supported by geopolitical tensions, technology stocks buoyed by earnings momentum, and currency and commodity markets reflecting shifting macroeconomic conditions.

TL;DR

• Oil prices remain supported by geopolitical tensions, particularly around US-Iran developments. 

• Intel shares have surged on strong AI-driven momentum, boosting tech sentiment.

• USD/JPY continues to trend higher amid a strong US dollar and rate divergence, while platinum has dropped to multi-week lows, reflecting weaker industrial demand. 

• Gold has stabilised as the dollar consolidates.

Key developments

Oil Prices

Oil prices remained elevated, with Brent crude trading at about $120 per barrel (on Wednesday, 29 April) amid continued uncertainty surrounding US-Iran tensions and potential supply disruptions in the Middle East. Reports of a possible extended blockade and stalled diplomatic progress have contributed to concerns about constrained global supply. Traders monitoring oil prices may note that geopolitical risk remains a key driver of volatility. (Source: Economist)

Intel Share Price

In equities, Intel drew significant attention after a strong earnings-driven rally, supported by rising demand for artificial intelligence technologies. The company’s recent surge helped lift broader US indices, including the Nasdaq, highlighting continued investor focus on AI-related growth themes. Market participants tracking NASDAQ-linked assets have seen tech stocks play a central role in recent gains.

USD/JPY Price 

In foreign exchange markets, the Japanese yen remained under pressure against the US dollar, with USD/JPY extending its upward trend as the dollar held firm following expectations around Federal Reserve policy stability. A stronger dollar environment has continued to weigh on the yen, reflecting interest rate differentials and global risk sentiment. Those following USD/JPY may observe ongoing sensitivity to central bank signals.

Gold Prices 

Meanwhile, precious metals traded mixed. Gold stabilised after recent declines as the US dollar consolidated, while platinum prices fell to multi-week lows, reflecting softer industrial demand signals and broader commodity market adjustments. Investors watching gold and related metals have seen diverging trends within the sector.

Additional context

Recent oil market dynamics have been heavily influenced by geopolitical developments, particularly disruptions linked to the Strait of Hormuz and broader Middle East tensions. These factors have contributed to heightened volatility and elevated price levels despite underlying supply-demand uncertainties.  

At the same time, equity markets continue to be shaped by earnings results and macroeconomic expectations, with technology stocks, especially those tied to AI, playing a dominant role in recent performance. Currency and commodity markets remain closely tied to central bank outlooks and geopolitical developments, reinforcing cross-asset interdependence.

Conclusion

Overall, markets are balancing geopolitical risks, corporate earnings momentum, and monetary policy expectations. Oil remains supported by supply concerns; Intel’s performance underscores ongoing AI-driven optimism in equities; USD/JPY reflects currency divergence; and platinum highlights uneven demand across commodities.

*Past performance does not guarantee future results. The above is for marketing and general informational purposes only, and are only projections and should not be taken as investment research, investment advice or a personal recommendation.