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Oil: Geopolitics test supply routes – BNY
BNY’s Geoff Yu reports Oil prices rose after the Houthis claimed a missile strike on a Saudi tanker near Yanbu, highlighting risks to alternative export routes while Strait of Hormuz disruptions persist.
Brent: Price slips on Hormuz deal hopes – Rabobank
Rabobank’s Global Daily notes Brent futures fell to around $79 as reports suggested the US, Iran and Oman are close to a temporary deal to reopen the Strait of Hormuz.
WTI recovers part of its losses, caught between technical rebound, diplomatic optimism
West Texas Intermediate (WTI) trades around $75.50 on Wednesday at the time of writing, up 1.56% on the day, as investors take advantage of a technical rebound following the more than 5% decline recorded in the previous day.
Brent: Deal hopes pressure prices below $80 – ING
ING analysts Warren Patterson and Ewa Manthey note that Brent has dropped below $80 per barrel as markets price in a potential short-term US-Iran deal that could reopen the Strait of Hormuz.
USD/CAD Price Forecast: Bulls gain traction as cheaper Crude hits LoonieÂ
The US Dollar (USD) appreciates for the fourth consecutive day against a weaker Canadian Dollar (CAD) on Wednesday, with the USD/CAD pair pushing against weekly highs at 1.4080 at the time of writing.
WTI Price Forecast: Edges lower to near $74.50 with bearish bias intact below 100-day SMA
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $74.50 during the early European trading hours on Wednesday. WTI declines on mixed US-Iran messages.
Oil: Market looks through Hormuz risks – MUFG
Michael Wan at MUFG notes Brent has dropped below US$80 as hopes rise for a deal to reopen the Strait of Hormuz.
US President Donald Trump: We're having very productive talks with Iran
US President Donald Trump said that he had very productive talks with Iran, Fox News reported on Wednesday.
Silver Price Forecast: XAG/USD revisits monthly high near $61 as oil price plunges further
Silver price (XAG/USD) trades 1.8% higher at around $60.95 during the Asian trading session on Wednesday.
WTI slips below $74.00 as Hormuz talks progress, US stocks rise
West Texas Intermediate (WTI) oil price falls after paring its daily gains, trading around $73.80 per barrel during the Asian hours on Wednesday.
WTI rises to near $75.00 despite diplomatic progress in Middle East
West Texas Intermediate (WTI) oil price appreciates after registering over 5% losses in the previous day, trading around $75.00 per barrel during the Asian hours on Wednesday.
Iran rejects US claim of open Strait of Hormuz
Iran rejects US Treasury Secretary Scott Bessent's and US President Donald Trump's claim that the Strait of Hormuz will open tomorrow under a new deal, Fars news agency reported on Tuesday.
United States API Weekly Crude Oil Stock above expectations (-2M) in July 31: Actual (2.69M)
United States API Weekly Crude Oil Stock above expectations (-2M) in July 31: Actual (2.69M)