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WTI declines despite rising US-Iran tensions threaten
West Texas Intermediate (WTI) oil price depreciates after three days of gains, trading around $93.90 during Asian hours on Thursday.
United States API Weekly Crude Oil Stock above forecasts (-1.3M) in September 4: Actual (-0.3M)
United States API Weekly Crude Oil Stock above forecasts (-1.3M) in September 4: Actual (-0.3M)
Crude Oil rallies into 14-week highs as US and Iran spend the week attacking tankers
West Texas Intermediate (WTI) settled just above $94.00, up better than 2% and at its best level since May 22.
Germany: Profit squeeze tempers price risks – ING
ING economists Carsten Brzeski and Franziska Biehl argue that while German inflation is set to rise above 3% and stay elevated into year-end, a repeat of 2022’s double-digit surge is unlikely.
WTI: Upside path persists – TD Securities
TD Securities’ commodity strategists Ryan McKay and Bart Melek note that WTI Crude continues to grind higher as conflict with Iran shows no sign of resolution.
WTI Oil rises as Middle East escalation threatens global supply
West Texas Intermediate (WTI) US Oil extends its advance on Wednesday and trades around $93.85 at the time of writing, up 1.77% on the day.
Swiss Franc gains ground as Japanese Yen-led weakness grips US Dollar
USD/CHF edges lower on Wednesday as broad weakness in the US Dollar (USD) allows the Swiss Franc (CHF) to regain some ground. At the time of writing, the pair trades around 0.8078, down roughly 0.20% on the day.
Euro benefits from broad US Dollar weakness ahead of ECB rate decision
EUR/USD trades on the front foot on Wednesday as broad US Dollar (USD) weakness, led by a sharp rally in the Japanese Yen (JPY), supports the pair. At the time of writing, EUR/USD trades around 1.1647, up 0.20% on the day.
Brent: Supply stress drives cautious flows – BNY
BNY Mellon’s Geoff Yu highlights Brent crude breaking above $100/barrel, with institutional investors rebuilding exposure to energy stocks while retail investors take profits.
WTI Oil erases losses and returns above $92.00 as hostilities in the Gulf escalate
Crude prices maintain their bullish tone on Wednesday, as the situation in the Middle East risks escalating into an all-out regional war.
Canadian Dollar gains ground as Middle East tensions boost oil prices
The USD/CAD pair declines to around 1.3770 during the early European session on Wednesday. Reports of a US strike on Iranian tankers and attacks on Saudi infrastructure boost crude oil prices and lift the commodity-linked Canadian Dollar (CAD).
Oil: Risk premium builds with Persian Gulf tensions – ING
ING analysts Warren Patterson and Ewa Manthey say Oil prices are grinding higher, with ICE Brent close to $100/bbl as Middle East tensions escalate and OPEC output falls.
Indian Rupee extends decline as oil prices rally further
The Indian Rupee (INR) extends its decline against the US Dollar (USD) on Wednesday after a sharp correction the previous day. The USD/INR pair jumps marginally above 95.11 as surging energy prices have battered the Indian currency significantly.