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United Kingdom: Energy-driven upside risks – Societe Generale
Societe Generale’s Sam Cartwright notes United Kingdom (UK) headline inflation rose to 2.9% year-on-year in July, driven mainly by higher household energy bills.
United States EIA Heating Oil Stocks Change declined to -0.537M in August 14 from previous 0.192M
United States EIA Heating Oil Stocks Change declined to -0.537M in August 14 from previous 0.192M
United States EIA Distillate Stocks Change dipped from previous -0.01MÂ to -1.53M in August 14
United States EIA Distillate Stocks Change dipped from previous -0.01MÂ to -1.53M in August 14
United States EIA Crude Oil Stocks Change above forecasts (-0.6M) in August 14: Actual (4.405M)
United States EIA Crude Oil Stocks Change above forecasts (-0.6M) in August 14: Actual (4.405M)
WTI Price Forecast: Needs decisive break above $85 for fresh advance
West Texas Intermediate (WTI), futures on NYMEX, trade 0.55% higher at around $84.80 during the European trading session on Wednesday.
WTI holds ground around $84.50 as supply risks increase due to US-Iran peace uncertainty
West Texas Intermediate (WTI) oil price moves sideways after three days of gains, trading around $84.50 per barrel during the European hours on Wednesday.
Oil: Inventory draws and risk premiums support prices – ING
ING strategists Ewa Manthey and Warren Patterson note that Oil prices have risen for a fourth straight session, supported by US-Iran tensions and concerns over shipping through the Strait of Hormuz.
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.