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Below the Quote on Market Macros by Shrikant Chouhan, Head Equity Research, Kotak Securities

Oil prices saw a modest uptick today, driven primarily by concerns over potential supply disruptions in the Middle East and increased fuel demand in certain parts of the U.S. Florida, in particular, has seen a spike in gasoline demand following Hurricane Milton, which caused shortages at nearly 25% of fuel stations. This localized demand surge has contributed to the recent price rally. At the same time, ongoing geopolitical tensions in the Middle East have amplified fears of broader supply disruptions, providing additional support to oil prices. 

In the U.S., the release of the Consumer Price Index (CPI) and Initial Jobless Claims data is expected to play a key role in shaping the Federal Reserve's future monetary policy. A softer-than-expected CPI rise, forecasted at 2.3%, could ease concerns about inflation, while jobless claims will provide insight into the health of the labor market. These indicators are likely to influence investor expectations on potential interest rate adjustments.

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