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WTI Price Forecast: Fails near 23.6% Fibo. amid mixed technical setup; hovers near $74.00
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on a two-day rally, reaching an over two-week high touched the previous day, and trades with a negative bias during the Asian session on Thursday.
Canadian Dollar gains ground on surging Oil, rising BoC hike bets
The USD/CAD pair loses ground to near 1.4165 during the Asian trading hours on Thursday. A rise in crude oil prices provides some support to the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD). Traders await the US weekly Initial Jobless Claims report later on Thursday.
Iran's Ghalibaf says any US military action will be met with retaliation
Iranian Parliament speaker Mohammad Bagher Ghalibaf warned the United States (US) after two days of renewed US strikes, saying that any U.S. military action will prompt retaliation. Ghalibaf emphasized that access to the Strait of Hormuz remains under Iranian control.
WTI holds above $74.00, close to two-week top as bears hesitate on US-Iran/Hormuz risks
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – drifts lower during the Asian session on Thursday and moves away from a two-week high, around the $75.75 region touched the previous day.
Crude Oil rediscovers its war premium as the Versailles patch peels off
West Texas Intermediate (WTI) Crude Oil trades near $74.50 on Wednesday, up more than 3.5% and extending a rebound that began at the $68.00 floor in early July.
WTI rises as supply disruption fears return to Oil markets
West Texas Intermediate (WTI) trims part of its earlier gains on Wednesday but remains supported as supply risks resurface amid escalating tensions in the Middle East.
Euro: Energy repricing shapes outlook against US Dollar – ABN AMRO
ABN AMRO’s Georgette Boele notes that the Euro’s relationship with energy prices has evolved, with recent Oil and Gas gains again weighing on EUR/USD.
British Pound holds firm as Hormuz shock lifts Oil, Dollar
The Pound Sterling (GBP) posts modest gains during the North American session on Wednesday amid growing tensions in the Middle East, as US President Donald Trump's said the deal with Iran was “over” after both countries exchanged attacks over the last couple of days.
United States Dollar Index climbs as Middle East tensions, Fed rate hike bets lift demand
The US Dollar Index (DXY) consolidates modest gains on Wednesday as traders assess renewed tensions between the United States and Iran and the potential economic fallout.
United States EIA Crude Oil Stocks Change above expectations (-1.9M) in July 3: Actual (2.998M)
United States EIA Crude Oil Stocks Change above expectations (-1.9M) in July 3: Actual (2.998M)
United States: Inflation expectations edge higher as oil rises – DBS
DBS Group Research’s Philip Wee reports that the New York Fed’s June Survey of Consumer Expectations showed 1-year inflation expectations rising to 3.7%, with 3-year expectations at 3.3% and 5-year unchanged at 3%.
WTI Oil advances on Trump’s Iran shift, mounting Middle East supply risks
West Texas Intermediate (WTI) US Oil trades around $73.10 on Wednesday at the time of writing, up 1.48% on the day, as investors reassess risks to global energy supply following a renewed deterioration in geopolitical conditions across the Middle East.
Oil: Conflict-driven volatility and positioning – BNY
BNY’s Geoff Yu highlights growing fragility in global markets as President Trump declares the Iran ceasefire over and U.S. strikes in the Strait of Hormuz reignite Oil volatility.