[MARKET UPDATE] Crude futures fall amid constructive geopolitical headlines on Ukraine
Newsquawk Staff · Newswires ·
RECAP
- US will commit to supporting Ukraine in the scenario of a future Russian attack, Bloomberg reports citing a draft statement
- US Ambassador to NATO Whitaker says a peace deal for Ukraine could be "on the cusp", speaking to Fox; adds, "We're really very far down the road..."
What it means
The fall in crude futures appears linked to more constructive geopolitical developments regarding Ukraine, with the U.S. signaling strong support should tensions escalate again. The suggestion of a potential peace deal, as emphasized by the U.S. Ambassador to NATO, could signal a stabilizing outlook for the region, reducing the immediate risk premium in energy markets. Overall, this could lead to softer oil prices as the market reassesses the supply-demand balance under these emerging conditions.
- CRUDE WRAP: WTI (Z6) SETTLES USD 0.37 LOWER AT 96.09/BBL
- [MARKET UPDATE] Crude benchmarks sink on reports that the US and Tehran have made concessions related to the Iranian nuclear program and frozen funds; Brent Jan'27 has slipped beneath USD 102/bbl
- [MARKET ANALYSIS] Asia-Pac stocks trade mixed folowing the continued tech rout stateside where the Nasdaq 100 slipped into a correction and with markets cautious ahead of the US midterm election
- [MARKET ANALYSIS] Dollar is flat ahead of the midterms, while yuan weakens after the PBoC raised its FX RRR
- CRUDE WRAP: WTI (Z6) SETTLES USD 7.66 LOWER AT 96.46/BBL
Related headlines
- [MARKET ANALYSIS] T-note futures pulled back after gaining yesterday alongside a slump in oil prices, while demand is contained with cash treasuries trading shut overnight amid the Tokyo closure5 days ago
- [MARKET ANALYSIS] Oil prices are contained after dropping 8% on Monday amid hopes for diplomacy and despite a report that the US conducting a small-scale, defensive attack on Iran's Qeshm Island5 days ago
- [MARKET UPDATE] Asia-Pac stocks begin mixed with underperformance in the KOSPI following the continued tech rout stateside which saw the Nasdaq 100 dip into a correction, while demand is contained amid the holiday in Japan and looming US midterm elections5 days ago
- Newsquawk Daily Asia-Pac Opening News - 3rd November 20266 days ago
- [MARKET UPDATE]: Further pressure seen in crude prices following reports from Al Jadeed citing a breakthrough in US-Iran negotiations and ILNA (citing Al Shanara) that the two sides are on the verge of a prelim agreement6 days ago
- Eight tankers carrying 300,800 tonnes of Russian diesel are being monitored on potential voyages to the US, with seven declaring the US as their destination and arrivals expected from November 7th, according to Ukrainian sources cited by an RFE journalist5 days ago
- US Energy Secretary Wright says that the best way to address high prices is high prices themselves, which spur supply growth; therefore, supply is increasing5 days ago
- Venezuela's October oil exports 1.08mln bpd, almost unchanged, according to shipping data5 days ago
- Saudi Aramco CEO says global liquid fuel demand is expected to rise by around 2.4mln bpd by 2027; expansion of East-West pipeline is underway5 days ago
- ADNOC Gas CEO says gas demand will continue growing in the long term; emphasises the need for more energy and diversified supply5 days ago
- Qatar cargoes are reportedly to load from Ras Laffan, which would be the first time since end-Feb5 days ago
- Saudi Aramco CEO says remains ready to rapidly increase production when the situation calls for it 5 days ago
- US Treasury Department says that Treasury Secretary Bessent met with Venezuela's Foreign Minister and discussed energy and the financial sector5 days ago
- Exxon (XOM) to shut FCCU at Beaumont, Texas refinery at end of November for work, according to source reports6 days ago
- A massive fire broke out at Hindustan Petroleum Corporation Ltd's (HPCL) Visakh Refinery on Monday evening, reports Times of India6 days ago