FTC Sues Amazon as Oil Rises, Gold Falls

The Federal Trade Commission filed a lawsuit against Amazon on Monday, accusing the company of misleading advertisers about how its ad auctions are priced and failing to disclose terms for sponsored listings. Twenty-two state attorneys general joined the complaint, which follows a multi‑year probe into Amazon’s advertising business and could expose the company to billions of dollars in civil penalties.

Amazon disputed the allegations in a written statement, saying regulators had “misrepresented how its advertising auctions operate and had provided no evidence of harm to shoppers.” The company added that its auction system prioritizes products relevant to search terms before considering bids and that the inflation‑adjusted average cost‑per‑click for its search ads remained flat from 2019 to 2024 even as ad performance improved. Amazon previously agreed in 2025 to pay $2.5 billion to resolve a separate investigation into its Prime subscription practices.

Energy markets reacted to renewed military exchanges between the US and Iran, lifting crude prices on Monday amid concerns about supply disruptions. Brent crude settled up 2.53% at $90.33 a barrel and US West Texas Intermediate rose 2.85% to $85.78. Brent touched $91.52 during the session, its highest level since Aug. 25. Visible commercial traffic through the Strait of Hormuz fell to about five vessels a day over the weekend. Analysts at Gelber & Associates noted some Gulf oil continued to move through the strait, which limited the rally, but said the latest exchanges created a near‑term supply premium.

Precious metals moved lower as investors adjusted positions amid higher rate expectations. Spot gold declined 0.26% to $4,441.04 an ounce after touching its lowest level since Aug. 19. US December gold futures fell 0.88% to $4,489.90. Despite Monday’s drop, gold remained on track for a roughly 9.7% gain for August. Daniel Pavilonis, senior market strategist at StoneX, warned that rising US yields and a firmer dollar had put gold in a “precarious position.” Markets raised the probability of a September rate increase to about 64%, up from roughly 36% before recent hawkish remarks by Federal Reserve Chair Kevin Warsh.

US Treasury yields moved toward multi‑year highs on Monday. The 10‑year Treasury yield reached 4.76%, the highest since January 2025, and the 30‑year yield climbed to 5.269%, approaching levels last seen in January 2007. Treasury Secretary Scott Bessent stated he had not yet purchased long‑dated bonds to support the market and was “fine” with yields rebounding after the Treasury announced larger debt buybacks. A market newsletter wrote that the bond market appeared to be “completely ignoring the US Treasury.”

Cryptocurrency markets reflected the broader risk tone. Bitcoin traded around $79,000 at the start of the US session and briefly rebounded after Treasury comments, but faced technical warnings ahead of the August monthly close. Technical analyst Rekt Capital wrote that a potential hidden bearish divergence between Bitcoin’s daily price and its relative strength index could add to downside pressure, noting, “If the Daily RSI continues to make Lower Highs (blue), that’ll contribute to mounting weakness here.” The daily RSI stood near 61.8 and Bitcoin remained just above a commonly watched 50‑week exponential moving average at $78,377.

The FTC complaint centers on ad transparency and pricing disclosure for listings that appear in Amazon search results. The claims and the company’s response are expected to be litigated in the months ahead.