Oil prices settled 1% lower on Friday due to macroeconomic concerns and profit taking, but rose about 30% in the quarter as OPEC+ production cuts squeezed global crude supply.

The dollar index climbed on Monday, building on four straight weeks of gains after the U.S. government temporarily avoided a shutdown and economic data continues to support the view the U.S. Federal Reserve will keep rates higher for a longer period of time.

Economic data showed U.S. manufacturing took a step further towards recovery in September as production picked up and employment rebounded, according to a survey on Monday that also showed prices paid for inputs by factories falling considerably.

The cryptocurrency market has made significant strides in the first two days of October, with Bitcoin and Ethereum both reaching their highest levels since August. Bitcoin surged to $28,227, while Ethereum climbed to $1,755, according to an analysis by Samer Hasn, Market Analyst at XS.com.

Oil prices moved little in Asian trade on Friday after falling sharply from 2023 highs on some profit taking, although the prospect of tighter supplies still put prices on course for their fourth straight month of gains. 

Brent oil futures fell from a 10-month peak, while West Texas Intermediate (WTI) futures came off a 13-month high on Thursday amid flashing overbought signals, as sentiment was battered by rising Treasury yields and growing fears of higher interest rates.

The crypto market appears to be showing signs of recovery, with significant improvements in the Sharpe Ratios of Bitcoin and Ethereum, according to an article published on Friday. The Sharpe Ratio, a measure used to understand the return of an investment compared to its risk, has seen a notable increase for both cryptocurrencies.

Gold fell to near 7-month lows Thursday as traders pushed the yellow toward mid $1,800 levels in a decisive break from the $1,900-an-ounce support decimated in the prior session.

In a recent analysis, JPMorgan expressed bullish sentiments on the global energy sector, predicting an upcoming 'supercycle' propelled by low capital expenditure (CAPEX) and supply shocks. The bank anticipates a significant rise in Brent and West Texas Intermediate (WTI) crude oil prices, with Brent potentially reaching $150 per barrel by 2026. This surge is expected to benefit major energy firms such as Shell (LON:SHEL), Baker Hughes, and Exxon Mobil (NYSE:XOM).

Persistently high oil prices are expected to prevail until 2024, primarily driven by production cutbacks led by Saudi Arabia. This forecast comes as the U.S. crude oil standard, West Texas Intermediate (WTI), recently hit a 13-month high due to supply constraints.

A recent survey by the Wall Street Journal predicts that both Brent crude and WTI will average near $89.28 and $85.33 per barrel respectively over this period. The increasing prices reflect the ongoing production cutbacks led by Saudi Arabia, which have significantly impacted global supply.

Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies.

Brent crude futures closed up $2.59, or 2.8%, at $96.55. It breached $97 a barrel during the session.

Gold prices experienced a slight rise in the early hours of Thursday's Asian trading session due to a mild weakening of the U.S. dollar, according to an analysis by Commonwealth Bank of Australia (OTC:CMWAY) (CBA) analyst Vivek Dhar. Spot gold was specifically priced at $1,876.63 per ounce.