European shares opened higher on Wednesday, boosted by the tech and basic resources sectors, while investors awaited a key U.S. inflation reading for clues on the Federal Reserve’s interest rate decision next week.
The Japanese yen was among the biggest beneficiaries of this trade, with increased safe haven demand after the debate putting the yen at its strongest level since early-January. The yen also benefited from somewhat hawkish-leaning comments from Bank of Japan officials.
U.S. crude stocks fell by 2.793 million barrels, gasoline declined by 513,000 barrels and distillates inventories rose by 191,000 barrels, according to market sources citing the latest week’s American Petroleum Institute figures on Tuesday.
Bitcoin’s price fell on Wednesday, tracking a wider decline in risk-driven assets as a heated presidential debate presented the prospect of a hotly contested 2024 presidential election.
Crude oil for October delivery was up 2.14% or 1.41 to $67.16 a barrel. Elsewhere in commodities trading, Brent oil for delivery in November rose 1.94% or 1.34 to hit $70.53 a barrel, while the December Gold Futures contract rose 0.37% or 9.30 to trade at $2,552.40 a troy ounce.
