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Oil: Supply risks support Brent valuations – ING
ING strategists Warren Patterson and Ewa Manthey highlight growing Oil supply disruptions across the Middle East and Black Sea. They note risks to Saudi crude exports via the Red Sea, renewed Persian Gulf tensions, and halted Kazakhstan flows through Russia’s CPC terminal.
Australian Dollar weakens as global energy supply disrupts further
The Australian Dollar (AUD) underperforms its major currency peers, trading marginally down at around 0.7000 against the US Dollar (USD) during the European trading session on Wednesday.
WTI Oil hits fresh six-week highs at $86.00 as supply concerns rise
Oil prices continue rallying on Wednesday as hostilities in Iran threaten to escalate out of control, and reports of vessels turning around in the Red Sea heighten concerns about supply disruptions.
Canadian Dollar receives support from higher oil prices
USD/CAD declines after to days of gains, trading around 1.4100 during the early European hours on Wednesday. The pair loses ground as the commodity-linked Canadian Dollar (CAD) receives support from higher oil prices.
Silver Price Forecast: Recovery hits 20-day EMA roadblock
Silver price (XAG/USD) gives back some of its early gains, but is still 0.8% higher at around $59.25 during the European trading session on Wednesday.
Indian Rupee falls back as oil prices rally further
The Indian Rupee (INR) opens lower against the US Dollar (USD) on Wednesday after a slight relief the previous day. The USD/INR pair rises to near 96.53 as a fresh surge in oil prices due to intensifying fears of further global energy supply disruptions has weakened the Indian currency.
WTI Price Forecast: Rises to near $85.00 on supply disruption, but remains capped below 100-day SMA
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $84.90 during the early European trading hours on Wednesday. The WTI rises as rising tensions in the Middle East raise fears of further disruptions to global oil supplies and international trade. Â
US President Donald Trump approves US-Saudi Arabia nuclear deal
US President Donald Trump approved a landmark agreement with Saudi Arabia that could potentially provide the kingdom with uranium enrichment capability for its civilian nuclear program, the Wall Street Journal reported on Wednesday.Â
Yemen’s Houthis threaten Bab el-Mandeb closure, putting another trade chokepoint at risk
Yemen’s Houthis said that they have closed the Bab el-Mandeb Strait to Saudi-linked shipping in retaliation for the kingdom’s blockade on Yemen and a recent attack on the international airport in Yemen’s rebel-held capital, Sanaa, the Guardian reported on Wednesday.
US CENTCOM says it has completed 11th night of strikes on IranÂ
The United States Central Command (CENTCOM) said that it completed another night of attacks that targeted “military operations centers, maritime capabilities, aircraft hangars, drone storage facilities, and military logistics infrastructure to further degrade Iran’s ability to threaten commercial sh
WTI rises above $84.50 as escalating global supply risks threaten key export hubs
West Texas Intermediate (WTI) oil price gains ground for the second successive day, trading around $84.60 per barrel during the Asian hours on Wednesday. Crude oil prices surge as supply risks intensified across several key export routes, extending well beyond the Middle East.
Iran says interests of US and its allies will be targeted if US strikes Iran's nuclear sites
Iran's top joint military command said that Tehran will expand its strikes and target the US and its allies' interests across the region if the US attacks Iran's nuclear sites, Xinhua news agency reported on Tuesday.
United States API Weekly Crude Oil Stock above forecasts (-1.5M) in July 17: Actual (2.603M)
United States API Weekly Crude Oil Stock above forecasts (-1.5M) in July 17: Actual (2.603M)