Asia shares weaker, oil up on Saudi-Houthi tensions, Gulf storm threat

Asian markets weaken despite record-setting US session Oil up on escalating Saudi-Houthi tensions A storm heads for the Gulf of Mexico (Updates markets through Asia afternoon, adds RBI decision) By Scott Murdoch and Gregor Stuart Hunter SYDNEY, Oct 7 (Reuters) — Asian markets were slightly weaker on Wednesday as investor confidence showed signs of flagging, while oil prices rose due to a storm threat in the Gulf of Mexico and escalating Saudi-Houthi tensions. 5%, led by declines in Hong Kong and Singapore after US stocks ended higher. 9% so far this month. 4%, also an all-time high.

5%. 22 a barrel; prices were little changed in the international session. 58 per barrel. The price rise came as commodity investors weighed supply constraints from a storm heading for North American oil-producing regions and Houthi attacks on Saudi Arabia against increased supplies of Middle East crude.

Around ​12 million barrels per day of crude oil and 2 million bpd of refined products have left the Middle East on tankers in the last seven to 10 days, commodities trading giant Vitol's CEO Russell Hardy said on Tuesday. US equities were showing signs of losing momentum as global bond yields resumed their ascent on Wednesday. 1% for the fifth day of gains, but failed to surpass an intraday high set the previous session. Heavily sold French bond futures ticked down in Asia to retrace some of the previous session's rebound as far-right presidential candidate Marine Le Pen pledged spending cuts and a reduction in the country's budget deficit.

Ten-year French yields fell more than 11 basis points on Tuesday and the spread between French OATs and German bunds, which hit almost 160 basis points last week, "The magnitude of the move is striking given the 2027 election remains several months away and France's deteriorating fiscal dynamics are hardly new," said Laura Cooper, Nuveen's head of macro credit and global investment strategist. 1229. 307% in Asian trade ahead of an auction of notes of the same maturity later in the session and a 30-year auction on Thursday. The auctions will show the depth of investor demand for US debt, analysts said.

US longer-dated yields hit a 24-year high on Monday amid a persistent selloff since late August due to inflation and debt concerns. 8%. 1% in the city's biotech gauge. Mainland China's financial markets remained closed for a holiday.

5% as the Reserve Bank of India hiked interest rates for the first time in nearly four years to rein in rising inflation. 5%, as expected by a majority of economists polled. 27% slide in the prior session. 41 per dollar.

3248. The Federal Reserve on Wednesday will publish the minutes of its September 15 and 16 policy meeting, which will be scrutinised for potential rate moves over the next few months. Traders scaled back expectations of a Fed rate increase this month to 19% from about 50% a week earlier. 29 per ounce.

GOL/ (Reporting by Scott Murdoch in Sydney and Gregor Stuart Hunter in Singapore; Editing by Thomas Derpinghaus and Jamie Freed)