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WTI Oil extends gains beyond $84.00 as US resumes strikes in Iran
Oil prices have risen about 7% over the last two days, pushing the price of the US benchmark West Texas Intermediate (WTI) barrel to levels above $84.00 on Thursday, up from the $77.16 lows seen earlier in the week.
US resumes strikes against Iran, targeting Qeshm Island
The US Central Command (CENTCOM) began launching strikes against Iran late Wednesday, retaliating against Iranian missile attacks on American forces in the region, the Guardian reported.
WTI falls below $83.00 despite hostilities in the Middle East
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.80 during the early Asian trading hours on Thursday. WTI falls amid some profit-taking despite escalating conflicts in the Middle East.Â
Yemen's Houthis reportedly considering fees for ships sailing through Red Sea
Yemenâs Iran-backed Houthi rebels are considering imposing fees on commercial ships sailing through the southern Red Sea, Reuters reported on Wednesday. This development came a week after the Houthi declared a naval blockade on Saudi Arabia.
US President Donald Trump says US will strike Iran hardÂ
US President Donald Trump said that he will order heavy strikes on Iran in retaliation for its âsurprise attackâ on US forces overnight, Bloomberg reported on Wednesday.
WTI remains muted after Fed hold
West Texas Intermediate (WTI) Oil stayed muted near $83 per barrel following the Federal Reserve's (Fed) decision to hold interest rates constant on Wednesday afternoon. The price consolidation comes after recovering sharply from an intraday low near $78.90.
WTI Oil surges 7% as Middle East war and supply risks fuel rally
West Texas Intermediate (WTI) Oil jumps nearly 7% on Wednesday as the war in the Middle East keeps geopolitical risks firmly priced into the market. At the time of writing, WTI trades around $84 per barrel, snapping a three-day losing streak.
United States EIA Crude Oil Stocks Change came in at -7.167M, below expectations (-2.5M) in July 24
United States EIA Crude Oil Stocks Change came in at -7.167M, below expectations (-2.5M) in July 24
Natural gas: Europe faces tighter winter balance â ING
INGâs Warren Patterson and Ewa Manthey report European natural gas prices have bounced higher as Middle East tensions disrupt Qatari LNG exports. They flag QatarEnergyâs extended force majeure, reduced EU LNG imports and below-average storage levels.
Oil: Middle East tensions revive inflation channel â BNY
BNY reports that renewed IranianâU.S. hostilities lifted Brent above 3%, reviving the inflation channel but remaining secondary to Fed and AI valuation drivers.
WTI rebounds sharply on fears of renewed escalation in US-Iran war
West Texas Intermediate (WTI) futures on NYMEX trades 6% higher on the day, slightly above $83.00 during the European trading session on Wednesday.
Gold struggles near $4,000 ahead of Federal Reserve policy verdict
Gold (XAU/USD) consolidates above $4,000 on Wednesday as price action remains choppy amid growing caution ahead of the Federal Reserveâs (Fed) monetary policy announcement, while the war in the Middle East intensifies again after a brief lull.
Canadian Dollar gains as oil prices rebound
USD/CAD extends its losses for the second consecutive day, trading around 1.4090 during the European hours on Wednesday.