CRUDE WRAP: WTI (V6) SETTLES USD 0.29 HIGHER AT USD 91.30/BBL; BRENT (X6) SETTLES USD 0.11 LOWER AT USD 95.52/BBL
Every headline is on the live feed 20 minutes before this site.
BASF (BAS GY) files suit against Apple (AAPL) for infringing patent license on face authentication tech, according to reports
Crusoe signs roughly USD 13bln Jane Street deal for cloud computing
CRUDE WRAP: WTI (V6) SETTLES USD 0.29 HIGHER AT USD 91.30/BBL; BRENT (X6) SETTLES USD 0.11 LOWER AT USD 95.52/BBL
Volkswagen (VOW3 GY) says survey on which the 2030 strategic plan is based envisages group-wide adjustment to the workforce, involving the reduction of around 50k positions
Iraq's SOMO says August oil exports were 73mln bbl, the highest in the Iran war; Iraq's oil revenues in August stood at around USD 4.5bln
On the Newsquawk feed at , 20 minutes before this page.
The crude complex settled with gains, seeing two-way action through the session. Overnight and through the European morning, WTI and Brent ground lower to hit troughs of USD 89.57/bbl and 94.03/bbl, respectively, after Russian President Putin remarked that Russia and Ukraine should agree first and that there is an opportunity to reach a peace agreement. Thereafter, benchmarks pared all losses to move to highs, but with no headline catalyst behind the moves, as Middle East headlines, for a change, were light. The main macro driver on Thursday were dovish comments from the influential Fed Governor Waller, who remarked he supports holding the policy rate steady at the September FOMC meeting if August inflation data shows continued progress.
A muted reaction was seen in response to an NYP report that Oman has quietly rejected Iran’s request to jointly charge service fees on commercial ships in the Strait of Hormuz. Elsewhere, Russian Deputy PM Novak said OPEC's role in the market remains important and will continue to exert significant influence on the oil market because of its high output. As a reminder, sources on Wednesday reported that the OPEC+ meeting on Sunday will not make any oil output policy decisions and will focus on discussing market conditions.
Context
Sessions of this shape, where peace-talk headlines knock benchmarks lower and the move then fully retraces without a confirming catalyst, are a recurring feature of geopolitically driven crude: headline risk premium gets stripped on any hint of de-escalation and rebuilt when nothing concrete follows, leaving positioning rather than fundamentals doing the round trip. The Putin remarks fit the established pattern in which ceasefire or negotiation headlines compress the war premium embedded since the conflict began, with the recovery underscoring how thin the follow-through has tended to be absent an actual agreement. The macro overlay mattered more than usual, with dovish Fed commentary softening the dollar and easing financial conditions at the margin, a channel that has historically supported the complex independently of oil-specific news. The Oman report on the Strait of Hormuz is the tell worth filing away: joint fee proposals with Iran touch transit and insurance costs through the world's most sensitive chokepoint, and a quiet rejection keeps that tail risk dormant rather than resolved. The immediate calendar item is the weekend OPEC+ gathering, which source reporting has framed as a non-event on output policy, meaning the group stays in its monitoring posture and the supply side remains a story of compliance and spare capacity rather than fresh quotas. Novak's remarks affirming OPEC's continued influence are boilerplate of the kind Russian officials have issued repeatedly when coordination questions surface.
Related headlines
- [MARKET ANALYSIS] Crude gains amid renewed Middle East tensions and shipping attacks; copper supported after Chinese data3 hours ago
- [MARKET ANALYSIS] DXY is flat awaiting US CPI; Antipodeans outperform on the risk tone and Chinese data2 hours ago
- Russian President Envoy Dmitriev says they will continue economic cooperation with the US, not only on diesel1 hour ago
- Russian Deputy PM Novak says a diesel supply solution, with reference to supplies to the US, will be determined via negotiation, in the context of ongoing sanctions, Ifx reports. Russian oil output will see a recovery1 hour ago
- Israeli PM Netanyahu says he opposes a preemptive attack on Iran at this time before the elections: "I think it's not convenient for us"2 hours ago
- A source tells the Tehran Times that the the assessment is that the US President Trump, under pressure from Israeli President Netanyahu, is seeking a new confrontation in the region, but does not have the capacity to expand or sustain this2 hours ago
- A US official says the idea of cutting off intelligence-sharing with Ukraine is being discussed inside the White House, Semafor reports3 hours ago
- Russia's Deputy PM Novak says Russia could increase diesel exports to 3.5 million tons per month and take 10% of this market by the end of the year, Tass reports33 min ago
- [MARKET ANALYSIS] Gilts lead on pre-budget reports and post-Pill, USTs await CPI2 hours ago
- Aurubis (NDA GY) reportedly lifts its 2027 European copper premium to USD 347 per metric tonne, Reuters reports3 hours ago
- Fed's Bowman (Voter) says not seeing urgency on further action on rates 2 hours ago
- Japan's aluminium premium for Oct-Dec delivers set at USD 255/t, -35% Q/Q, according to sources4 hours ago
- European oil refinery margins have reportedly slumped, which increases the chance of output cuts, the FT reports3 hours ago
- Kazakhstan's Energy Ministry says maintenance at the Karachaganak oil and gas field was completed on October 1st and production is currently stable1 hour ago
- IEA OMR (Oct): Sees world oil demand falling by 2.6mln BPD in 2026 on Iran war disruption and rising prices (prev. 2.5mln BPD drop)4 hours ago
- Italian PM Meloni says they see a deal with the EU being close on measures to cut the impact of gas costs on electricity prices4 hours ago
- Commerzbank (CBK GY) CEO says that they are expecting ECB approval for UniCredit (UCG IM) tie up in the coming days or weeks4 hours ago
- The spokesman for the IRGC says Iran now possesses more advanced weapons compared to those it used during the 40-day war, emphasizing his country's readiness to respond more forcefully to any new aggression, Saba reports43 min ago
- IRGC says it is ready to respond to any aggression, more than ever before, Al Mayadeen reports2 hours ago
- BHP's (BHP AT) Escondida mine has reportedly reached a preliminary agreement with Supervisor's Union and is to be ratified by members, with a strike being avoided, according to sources2 hours ago
The feed had this first.
Use the Platform