[MARKET UPDATE] Crude pullsback from highs, but remains firmer by over USD 3/bbl on the day, allowing US equity futures to pare initial downside with the ES now U/C and European equity bourses off lows

The pullback in crude oil prices from the highs, despite remaining elevated by over USD 3/bbl, suggests that the market is experiencing some profit-taking, yet still exhibits strength.

Newsquawk StaffPublished 11 Mar 2026, 10:36 UTCOn the live feed at 10:16 UTC — 7 more headlines followed before this page went public

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10:21

Black Sea CPC blend oil exports were reportedly revised down to around 1.4-1.5mln BPD for March (prev. 1.7mln BPD)

10:17

The IEA will reportedly announce its recommendation on strategic oil reserve release at 13:00GMT/09:00EDT

10:16

[MARKET UPDATE] Crude pullsback from highs, but remains firmer by over USD 3/bbl on the day, allowing US equity futures to pare initial downside with the ES now U/C and European equity bourses off lows

10:10

As part of a potential 400mln barrel IEA crude release, Germany would release around 19.5mln barrels, Handelsblatt reports citing sources; equating to around 20% of Germany's reserves

10:09

Sky News Arabia reports that 3 ships were hit today by unknown projectiles in the Strait of Hormuz

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Context

This has likely provided support to US equity futures, which have managed to recover from initial declines, indicating a positive spillover effect on equities as the session progresses.

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Recent headlines that moved markets

METALS/1 Sep · 08:06

Two oil supertankers were reportedly hit by projectiles in the Strait of Hormuz, reports citing Marisks suggest (details light)

Spot Gold, after we published−1.0%

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FX/28 Aug · 14:00

Fed Chair Warsh says Fed has more work to do unless confident underlying inflation is moving towards 2% objective

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ENERGY/27 Aug · 17:46

The Trump administration has repeatedly told mediators it has no interest in going back to the terms of the MoU it reached with Iran in June, reports WSJ citing sources

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EQUITIES/26 Aug · 12:56

States and Meta (META) and agree to settle claims that platforms harmed children, according to a court filing; Meta agrees to pay a maximum of USD 16.68bln to states as part of deal

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ENERGY/25 Aug · 19:26

A ceasefire between the US and Iran has been agreed upon, it includes free navigation in the Strait of Hormuz and will be announced in the coming days, reports Ria citing Pakistani and Iranian sources

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FX/2 Sep · 13:45

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