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Asia FX: Lower US yields offset Oil risk – MUFG
MUFG’s Lloyd Chan notes that the Korean Won (KRW) and Taiwan Dollar (TWD) are leading Asia FX gains as softer US yields and a resilient technology cycle support sentiment.
Indian Rupee trades lower, RBI remains on standby to limit downside
The Indian Rupee (INR) remains vulnerable against the US Dollar (USD), close to its two-week low at around 95.75.
WTI Price Forecast: Sits near three-week high, below $85.00 as bulls eye 100-SMA breakout
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – touches a nearly three-week high during the Asian session on Wednesday, though it struggles to build on the momentum beyond the $85.00 mark.
WTI rises to near $85.00 amid escalating US-Iran tensions
West Texas Intermediate (WTI) oil price extends its gains for the fourth consecutive day, trading around $84.80 per barrel during the Asian hours on Wednesday.
United States API Weekly Crude Oil Stock declined to -0.328M in August 14 from previous 9.072M
United States API Weekly Crude Oil Stock declined to -0.328M in August 14 from previous 9.072M
Oil: Tight market keeps Brent elevated – TD Securities
TD Securities’ commodity strategy team maintains a bullish view on Oil, citing persistent tightness and Strait of Hormuz tensions.
WTI Oil Price Forecast: Weak trend strength keeps WTI below 100-day SMA
West Texas Intermediate (WTI) holds firm on Tuesday after jumping 3% the previous day. The lack of progress toward reopening the Strait of Hormuz keeps a geopolitical risk premium in energy markets.
Brent: War-linked range trading outlook – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes Brent crude has rallied above $91 as the US–Iran Strait of Hormuz standoff persists. Haddad argues crude Oil is driving the war narrative and expects price swings to steer escalation risks.
Canadian Dollar remains resilient as Oil strength counters firmer US Dollar
USD/CAD trades little changed on Tuesday as rising long-term US Treasury yields lift the US Dollar (USD), while elevated Oil prices underpin the commodity-linked Canadian Dollar (CAD). At the time of writing, the pair trades around 1.3874, near levels last seen in early June.
European gas: LNG inflows key for prices – Commerzbank
Commerzbank’s Norman Liebke argues that European gas storage will depend on higher LNG imports over winter, as current inflows of 8 bcm per month would see storages trend toward 0% by March.
Oil: Hormuz conflict keeps prices elevated – BNY
Geoff Yu at BNY notes Brent crude briefly rose above $91.85 per barrel, its highest in over three weeks, as hopes for a rapid reopening of the Strait of Hormuz faded.
Qatar: Iran-Oman bilateral Hormuz agreement needed before US-Iran talks
Qatar’s Foreign Ministry spokesperson, Majed Al-Ansari, said the mediators are waiting for Oman and Iran to reach a bilateral agreement on the Strait of Hormuz, a critical chokepoint to almost 20% of global energy supply, before returning to broader United States (US)-Iran talks.
WTI consolidates below $84.50, two-week top as bullish bias remains amid Hormuz standoff
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – extends its consolidative price move through the first half of the European session and currently trades near the $84.25-$84.30 area, close to a two-week high set earlier this Tuesday.