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Middle East crude oil exports rise above pre-war levels but tanker attacks increase
Crude oil exports from the Middle East exceeded pre-war levels in four of the seven days of the final week of September despite attacks on vessels passing through the Strait of Hormuz, according to provisional data from ship-tracking firm Kpler.
Russia vows to step up strikes on UkraineÂ
Russian Defense Ministry said that it would intensify attacks on Ukraine’s military and industrial facilities following a vow from President Volodymyr Zelenskyy to double down on strikes against oil refineries, Bloomberg reported on Sunday.
OPEC+ agrees to keep oil output policy unchanged for November
The Organization of Petroleum Exporting Countries and its allies (OPEC+) agreed on Sunday to keep oil production ‌targets steady for November. This move came in line with expectations that further output policy adjustments are unlikely until next year.
Middle East War updates: Iran says Strait of Hormuz main focus of talks to end war with US
Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.
United States Baker Hughes US Oil Rig Count: 456 vs 455
United States Baker Hughes US Oil Rig Count: 456 vs 455
WTI Oil edges down below $91.00 amid reports of higher flows from the Gulf
Crude Oil prices show a moderate pullback on Friday as news of increased exports from Gulf countries offsets concerns about stalled US-Iran peace negotiations.
WTI Price Forecast: Dips to $91.50 as Middle East jitters limit losses
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some sellers during the Asian session on Friday, snapping a two-day winning streak and stalling the previous day's recovery from the vicinity of a nearly four-week low.
Canadian Dollar falls as oil prices dip, US Dollar gains strength
USD/CAD rebounds after registering losses in the previous day, trading around 1.4230 during the Asian hours on Friday. The currency pair continues to gain ground as the US Dollar (USD) receives strong support.
WTI holds steady near $92.00 as US weighs sending more troops to Middle East
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $91.75 during the early Asian trading hours on Friday. WTI flatlines after a two-day gain as the United States (US) mulled sending another aircraft carrier group to the Middle East.Â
US may send third aircraft carrier and 10,000 troops to Middle East
US official said that the Pentagon may soon send a third aircraft-carrier strike group and 10,000 sailors and Marines to the Persian Gulf, the Wall Street Journal reported on Thursday.
US pressures EU to tap emergency diesel stockpiles
The US President Donald Trump administration told European allies to release diesel from national emergency stockpiles, Bloomberg reported on Thursday.
Crude Oil extends its rally as the Pentagon adds another carrier group
A report that the Pentagon is sending a third aircraft carrier strike group to the Middle East has added a second leg to Thursday's rally in Crude Oil.
Euro: Vulnerable as US diesel policy bites – Societe Generale
Kit Juckes at Societe Generale highlights that a proposed US diesel export ban would likely push up European diesel prices and weigh on the Euro and other European currencies. He points to rising bond yields and Oil prices as additional headwinds and questions whether consensus Eurozone growth forecasts will be revised lower if these pressures persist.