Welcome to Markets Desk, your midday read on what's moving markets.
Crude oil is holding modest gains as Middle East supply disruptions continue to underpin prices, with West Texas Intermediate up roughly a third of a percent on the session. Gains remain capped, however, as traders weigh hopes for a diplomatic resolution against ongoing logistical constraints in the region.
Shifting to soft commodities, cocoa is taking a sharp hit today, falling more than seven percent to seven-week lows on both the New York and London exchanges. The selloff reflects growing confidence in near-term supply availability, unwinding some of the premium that had built up over recent weeks on tighter crop expectations.
On the corporate front, Oracle is moving through another round of layoffs as it redirects resources toward its aggressive artificial intelligence infrastructure buildout. An internal document has surfaced detailing the severance terms, stock treatment, and bonus eligibility for affected employees, offering unusual transparency into how the company is managing the transition for departing workers.
That's the tape. Markets Desk, signing off the floor.
