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WTI eases from three-month top and slips below $92.00; supply concerns to limit downside
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – touches a fresh three-month top, around the $92.50 area during the Asian session on Wednesday, though it lacks follow-through. Nevertheless, the commodity seems poised to climb further amid escalating US-Iran tensions.
Canadian Dollar gains amid elevated oil prices, escalating US trade sanctions
USD/CAD remains subdued for the third successive day, trading around 1.3780 during the Asian hours on Wednesday. The currency pair loses ground as the commodity-linked Canadian Dollar (CAD) draws support from elevated oil prices, given Canada's position as one of the world's leading crude exporters.
WTI surges as US strikes Iranian tankers
West Texas Intermediate (WTI) oil price extends its gains for the third successive day, trading around $92.30 during the Asian hours on Wednesday. Crude oil prices rise as the US struck several Iranian tankers near Kharg Island, a major crude export hub.
US targets Iranian oil tankers in response to attacks on US ships
US official said that US forces have struck multiple Iranian tankers tied to Iran’s Islamic Revolutionary Guard Corps (IRGC) in response to attempted missile attacks on a US warship, Bloomberg reported on Tuesday.Â
US Dollar: Mixed performance with Fed and trade risks – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret highlight a mixed US Dollar (USD) as markets weigh rising Oil prices, Japanese Yen (JPY) strength, and escalating US trade tensions.
US Dollar: Crude rally and CPI risks shape path – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes that Brent Oil’s surge toward $100 is pressuring stocks and bonds while giving the Dollar a modest lift. However, he stresses that Friday’s US August Consumer Price Index (CPI) will be decisive for the Federal Reserve’s September 16 meeting.
Oil: Supply shocks lift price risks – BNY
BNY’s Geoff Yu highlights that energy risk dominates markets as Brent crude is expected to trade sustainably above $100, with Saudi facility disruptions and constrained Hormuz shipments tightening supply.
Canadian Dollar eases from highs as risk aversion buoys the US Dollar
The Canadian Dollar (CAD) is giving back previous daily gains against the US Dollar (USD) on Tuesday, as the risk-off mood amid escalating tensions in the Middle East offsets the positive impact of higher Crude prices on the commodity-sensitive Loonie.
Natural Gas: Risk premium sustained on Gulf disruptions – Rabobank
Rabobank’s Florence Schmit highlights that TTF Natural Gas remains supported by low European storage and disrupted Gulf LNG flows. The absence of meaningful U.S.-Iran progress keeps a structural risk premium in prices, with 2026 TTF seen averaging €60/MWh in Q4.
WTI advances above $92.00, highest since July as Hormuz tensions stoke supply concerns
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts follow-through buying for the second straight day and climbs to its highest level since July 23 during the early part of the European session on Tuesday.
Euro recovers some early losses against Japanese Yen, ECB policy in focus
The Euro (EUR) claws back some of its early losses against the Japanese Yen (JPY) during the European trading session on Tuesday. At press time, EUR/JPY is down 0.3% to near 178.85 even after recovering from its intraday low of 177.85.
USD/CAD Price Forecast: Surging oil prices lift Canadian Dollar
The Canadian Dollar (CAD) trades higher against the US Dollar (USD) on Tuesday. The USD/CAD pair is down 0.25% to near 1.3780 at the time of writing as the Loonie outperforms due to surging oil prices.
Euro retreats below 1.1630 following the release of German Trade Balance data
The Euro (EUR) is practically flat against the US Dollar (USD) on Tuesday, after giving back previous gains, following the release of German Trade Balance data.