[MARKET UPDATE] Moves discussed in the last update extend, WTI May'26 testing USD 97/bbl to the downside, Brent Jun'26 below USD 100/bbl. European and US equity futures at fresh highs, fixed income extends and the USD retreats further.
The extension of moves in WTI testing the downside at USD 97/bbl, and Brent below USD 100/bbl suggests a shift in sentiment around oil prices, likely driven by supply concerns or adjusting demand forecasts.
Qatari Defence says a cruise missile struck an oil tanker chartered for QatarEnergy in the economic waters, Al Arabiya reports
Iranian Foreign Minister, when asked about the status of negotiations with the US, says "No decision has been made yet. We have many considerations. Our conditions for ending the war are very clear. We do not accept the ceasefire; We seek a complete end"
[MARKET UPDATE] Moves discussed in the last update extend, WTI May'26 testing USD 97/bbl to the downside, Brent Jun'26 below USD 100/bbl. European and US equity futures at fresh highs, fixed income extends and the USD retreats further.
Additional European Equity News
Newsquawk Calendar of Key Events - April 2026
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Meanwhile, the fresh highs in European and US equity futures, coupled with a retreat in the USD, indicate a risk-on environment, which could further pressure commodities if sustained. Traders should monitor if this trend influences broader inflation expectations and asset flows.
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