Brent crude is now trading at $97.66 per barrel after Iran threatened the US with 'economic warfare' and claimed to have fired an advanced missile at American naval vessels. An attack on the Jizan refinery infrastructure in Saudi Arabia is adding further upward pressure. WTI is trading at $93.05.
Crude oil prices continue to climb after Iran threatened energy infrastructure in the Gulf, amplifying market uncertainty and sending shockwaves through risk assets globally.
Oil prices rose more than one dollar at futures reopening following reports of explosions in southwestern Saudi Arabia. The conflict is spreading to a new geographic front, and the market has little buffer against further supply disruptions.
WTI crude is trading at $92.75 after an intraday decline was absorbed by the 100-hour moving average at $91.04. Geopolitical escalation in the Strait of Hormuz — where only 10 vessels per day are now passing, compared to a historically far higher volume — provides fundamental support, while the technical picture remains locked between $92.47 and $93.50.
Iraq holds the world's fifth-largest oil reserves and has set ambitious production targets, but decaying infrastructure, gas flaring, and security challenges make the dream of challenging Saudi Arabia a highly complex affair.
Nvidia CEO Jensen Huang claims artificial general intelligence is now a reality after OpenAI launched its most powerful model ever — and notes that it was trained on Nvidia chips.
Following U.S. strikes on Iranian oil tankers, Iran's parliamentary speaker warns of a faster and more painful response. Commodity and financial markets are holding their breath.
The US added 162,000 jobs in August – far above expectations. Markets are now pricing in more than a 58 percent chance of a Fed rate hike in September.
XRP is trading near $1.45 after Ripple CEO Brad Garlinghouse declared the CLARITY Act "within reach" ahead of a decisive Senate cloture vote on September 15. The bill would grant the CFTC exclusive jurisdiction over digital commodity spot markets and could become the most comprehensive crypto market structure legislation ever enacted.
