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WTI slips below $72.00 despite renewing supply concerns
West Texas Intermediate (WTI) oil price inches lower after paring daily gains, trading around $71.70 per barrel during the European hours on Wednesday.
Oil: Geopolitical risk lifts prices – ING
ING analysts Warren Patterson and Ewa Manthey note that Brent has jumped above $76/bbl as renewed tensions in the Persian Gulf and US strikes on Iran revive supply concerns.
Oil: Gradual downside with security premium – OCBC
OCBC Bank’s Sim Moh Siong and Christopher Wong highlight that Oil and tech-led equity weakness have driven a stronger US Dollar, higher global yields and softer Gold.
China lifts fuel export restrictions for July — Reuters
China has lifted refined fuel export restrictions for July and allowed a private refiner ‌to resume shipments after a four-month pause, Reuters reported on Wednesday, as the world’s biggest refiner returns toward normal after disruptions from the Iran war.
Indian Rupee plummets as US-Iran ceasefire collapse lifts oil prices
The Indian Rupee (INR) plunges against the US Dollar (USD) in India's afternoon trading hours on Wednesday. The USD/INR pair jumps to near 95.65 as the collapse of the memorandum of understanding (MoU) between the United States (US) and Iran has lifted oil prices.
WTI holds above $72.00, near two-week high amid fresh US-Iran tensions
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on the previous day's strong move up and enters a bullish consolidation phase near a two-week high, touched during the Asian session this Wednesday.
Iran’s IRGC: Targeted 85 US military sites in Bahrain, Kuwait after ceasefire breach
The Iranian Islamic Revolutionary Guards Corps (IRGC) said on Wednesday that it “targeted 85 US military sites in Bahrain and Kuwait following the US ceasefire breach.
Canadian Dollar declines as safe-haven demand lifts US Dollar
USD/CAD inches higher after registering minor losses in the previous day, trading around 1.4200 during the Asian hours on Wednesday.
WTI spikes following fresh US airstrikes on Iran
West Texas Intermediate (WTI) oil price continues to advance after registering nearly 5% gains in the previous day, trading around $72.20 per barrel during the Asian hours on Wednesday.
Oil: Deficits support higher prices – TD Securities
TD Securities’ Ryan McKay argues that Crude Oil is far from oversupplied, with high-frequency global and Chinese balances still pointing to tightness.
Brent: Hormuz security risks support prices – BNY
Geoff Yu reports that a Qatari LNG carrier was struck near the Strait of Hormuz, reviving security concerns and lifting European gas prices and Brent, WTI, Omani and Dubai crude benchmarks.
WTI Price Forecast: More downside is likely if Oil falls below $67
West Texas Intermediate (WTI), futures on NYMEX, trades 1% higher to near $69.40 during the European trading session on Tuesday.
Canadian Dollar: Loonie constrained near term – NBC
National Bank of Canada ’s (NBC) Stéfane Marion and Kyle Dahms describe the Canadian Dollar (CAD) as caught between improving domestic growth and a still-challenging external backdrop. USD/CAD recently rose above 1.42, with forecasts easing to 1.33 by Q2 2027.