Crude Oil (WTI)

WTI is the US oil benchmark (Brent is the global equivalent). Rising oil lifts FTSE 100 energy names (Shell, BP), pressures airlines and transport, and raises inflation expectations — which feeds rate expectations and therefore equities generally. When oil spikes unexpectedly, the first domino is inflation prints, the second is bond yields, the third is growth-stock compression. Always link oil to the bigger macro chain.