[MARKET UPDATE] : Crude futures see upside after Trump announces "help is on its way" to Iranian protestors, encouraging them to keep protesting
Newsquawk Staff ·
: Crude futures see upside after Trump announces "help is on its way" to Iranian protestors, encouraging them to keep protesting.
What it means
Crude futures are rising as Trump signals support for Iranian protestors, which may suggest a more volatile geopolitical landscape. This could imply potential supply disruptions or changes in U.S.-Iran relations, affecting oil prices. Traders should watch how this geopolitical tension influences market sentiment and energy stocks moving forward.
- CRUDE WRAP: WTI (Z6) SETTLES USD 0.37 LOWER AT 96.09/BBL
- 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 journalist
- US Energy Secretary Wright says that the best way to address high prices is high prices themselves, which spur supply growth; therefore, supply is increasing
- Venezuela's October oil exports 1.08mln bpd, almost unchanged, according to shipping data
- [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
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