Oil hits over 1-week low on hopes of boost to diplomacy in Iran war
Traders said hopes for renewed diplomacy and restored Saudi flows eased fears of a wider supply shock, while Brent slipped to $98.40 a barrel.
- On Monday, Brent and West Texas Intermediate crude fell to 11-day lows as investors weighed potential US-Iran diplomacy at the United Nations General Assembly against recovering Saudi Arabian oil shipments from the Strait of Hormuz.
- Yemen's Iran-backed Houthis launched missile and drone strikes on September 19 targeting Saudi Aramco facilities, damaging the critical East-West pipeline and forcing the kingdom to redirect exports through the Strait of Hormuz to maintain crude flows.
- Saudi Aramco increased daily exports through the Strait of Hormuz to 2.9 million barrels, up from 700,000 barrels in August, according to satellite data cited by JPMorgan analysts tracking Middle East oil flows.
- President Donald Trump expressed openness to meeting Iranian President Masoud Pezeshkian during this week's United Nations General Assembly, though Tehran has yet to signal reciprocal interest in negotiations.
- Despite market relief, Yemen's Iran-backed Houthis continued attacking sensitive Aramco sites in Yanbu, sustaining military pressure on critical export hubs and threatening the durability of recent price declines.
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447 Articles
Globes presents first update on the state of markets around the world • And this morning: Mixed trend in Asia: Japan's Nikkei jumps, declines in Chinese and Hong Kong stock markets • Concerns about continued interest rate hikes and tensions with Iran weighed on New York; contracts in the red • Oil retreats after a day of gains amid a report of record crude oil imports to Asia • Dollar index at a two-month high • Also: Morgan Stanley recommends: …
Treasuries Break 5% as the Fed Turns Hawkish: What Happens to the Dollar, Gold and America's Borrowing Power?
TODAY’S NUMBERS 5.06% (US 10-year Treasury yield, highest since 2007) · 100.9 (Dollar index, seven-week high) · 1,000+ tonnes (China’s gold imports, January–August) The world is paying up for dollars and stockpiling gold at the same time. Markets are buying the dollar’s yield while hedging its politics. At 9:45am New York time today, S&P Global’s […] The post Treasuries Break 5% as the Fed Turns Hawkish: What Happens to the Dollar, Gold and …
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