Brent crude futures settlement price $89.31/bbl, down $0.39 (-0.43%).

In a speech more hawkish than many had expected, Fed Chair Kevin Wash cited indicators showing a healthy economy, including elevated corporate profits, steady consumer spending and narrower credit spreads. He said, In my view, credit and loan markets show little sign that monetary policy is having a restrictive effect. Overall, I find it hard to describe current broad financial conditions as restrictive. The comments strengthened Wall Street's bets on further Fed rate hikes.

MSNBC reports US Defense Secretary Hegseth is considering a 2028 presidential bid.