Brent crude gained 2.6% to $111.66 per barrel on Thursday, reaching a five-month high as AI-linked shares pulled global markets lower. The Nasdaq declined 1.5%, and the S&P 500 fell 0.8% by mid-morning in New York. South Korea's Kospi lost 3.52%, Japan's Nikkei 225 declined 2.65%, and Hong Kong's Hang Seng dropped 3.03%. The 10-year Treasury yield reached 5.03%, compared with 3.97% before the Iran war. Markets assigned roughly a 15% probability to another Federal Reserve rate increase at the October 28 decision, while a December increase remained widely expected.