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Brent: Prices extend sharp decline – Deutsche Bank
Deutsche Bank’s Early Morning Reid team, including Peter Sidorov and Jim Reid, note that Brent Oil has reversed more than half of its recent 13% rally as Middle East de-escalation headlines weigh on energy markets.
Equities: Tech-led gains with softer Oil – Deutsche Bank
Deutsche Bank notes that Nvidia’s earnings have become a major macro catalyst, although the impact of positive surprises has faded in recent quarters.
Oil: Prices retreat on Gulf diplomacy – ING
ING analysts Warren Patterson and Ewa Manthey note that Oil prices are under renewed downward pressure, with ICE Brent breaking below $90/bbl as talks involving Iran, Oman and Pakistan on the Strait of Hormuz and the Middle East war progress.
Asian stock markets gain as oil extends downfall, eyes on Jackson Hole Symposium
Asian stock markets reflect broader strength on Wednesday, as oil prices have fallen further on renewed hopes of the Strait of Hormuz, a vital passage for almost 20% of global energy supply, reopening.
WTI Price Forecast: Seems vulnerable below $80.00 as break below 50% Fibo. comes into play
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – remains under some selling pressure for the third straight day and drops to a nearly two-week low during the Asian session on Wednesday.
Silver Price Forecast: XAG/USD holds firmly above $69 ahead of US PCE Inflation data
Silver price (XAG/USD) is up almost 1% to near $69.40 during the Asian trading session on Wednesday.
WTI drops amid Middle East diplomacy, eased US sanction fears
West Texas Intermediate (WTI) oil price extends its losses for the third consecutive day, trading around $80.10 per barrel during the Asian hours on Wednesday.
Iran and Oman push talks for ‘interim’ reopening of Hormuz — Bloomberg
Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an “interim framework” aimed at resuming shipping through the Strait of Hormuz, Bloomberg reported on Tuesday.
United States API Weekly Crude Oil Stock above expectations (1.9M) in August 21: Actual (4.2M)
United States API Weekly Crude Oil Stock above expectations (1.9M) in August 21: Actual (4.2M)
US-Iran agree ceasefire deal, sinks Oil – RIA Novosti
The Russian agency RIA Novosti reported on Tuesday that Washington and Tehran agreed to a ceasefire, citing sources in Iran and Pakistan.
US President Trump: US Navy has cleared Strait of Hormuz mines
United States (US) President Donald Trump said the US Navy has cleared the Strait of Hormuz of mines, removing one of the supply risks that has kept the Oil market on edge.
WTI slides as traders shrug off US sanctions on Iran, Hormuz risks persist
West Texas Intermediate (WTI) Oil edges lower on Tuesday, extending its decline for a second straight day as traders look past Washington’s latest economic pressure on Iran.
Canadian Dollar: Trading near fair value against US Dollar - Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret describe USD/CAD trading close to their fair value estimate around 1.3842 as the Canadian Dollar (CAD) reacts to trade headlines and weaker Oil prices.