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20:35:39
Politics

SETTLEMENT — CRUDE: WTI (U6) SETTLES USD 1.08 HIGHER AT USD 84.67/BBL; BRENT (V6) SETTLES USD 1.04 HIGHER AT USD 87.93/BBL

COMMODITIES

  • Crude futures gained as traders monitored possible escalation or de-escalation developments around Iran.
  • Iran's IRGC said two offending tankers were hit and stopped, while it stated that Strait of Hormuz transit would require coordination with the IRGC Navy.
  • Reports that the US and Israel were considering a land blockade of Iran added upward pressure, while CPC discussed a possible indefinite halt to oil and tanker operations but had not decided.

SUPPLY

  • Attention remains on the upcoming OPEC+ JMMC, with a 188k BPD September output increase widely expected.
  • The Baker Hughes rig count showed oil rigs up 1 at 451, natgas unchanged at 127, and total rigs up 1 at 588.

WTI settled higher at USD 84.67/BBL as Iran-related supply risks and OPEC+ expectations remained in focus.

20:31:10
Commodities

NYMEX WTI crude September futures settle at $84.67 a barrel, up $1.08, 1.29%.

20:53:05
Commodities High

SETTLEMENT — CRUDE: WTI (U6) SETTLES USD 0.87 LOWER AT USD 83.59/BBL; BRENT (V6) SETTLES USD 1.21 LOWER AT USD 86.88/BBL Mkt cap ~$515M

COMMODITIES

  • Crude futures moved lower as reports pointed to ongoing talks involving Iran, Oman and the Strait of Hormuz.
  • Transit activity through the Strait has recovered, with some cargo flows returning closer to pre-escalation levels, though flows remain below prior levels.
  • Iran's IRGC maintained that ships may pass if they follow its arrangements, while also issuing a warning after recent attacks.
  • A Ukrainian drone attack halted Russia's Ryazan refinery crude processing, which may remain offline for two weeks.

ENERGY

  • UK PM Burnham indicated the government may support new North Sea oil and gas drilling, citing a pragmatic approach to domestic energy resources.

Oil prices fell as Strait of Hormuz developments, supply flows and refinery disruptions remained in focus.

20:31:34
Commodities

NYMEX WTI crude September futures settle at $83.59 a barrel, down 87 cents, 1.03%. Mkt cap ~$525M

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20:59:09
Commodities High

SETTLEMENT — CRUDE: WTI (U6) SETTLES 5.20 HIGHER AT USD 84.46/BBL; BRENT (V6) SETTLES USD 6.65 HIGHER AT USD 90.74/BBL Mkt cap ~$515M