WTI crude oil's bearish trade hit its first target at $89.58, but the breakdown failed and price reversed above $90.90, completing all four bullish targets.
Global bond yields surged as oil prices jumped, fiscal concerns grew, and central bank rate cut expectations faded. The selloff may boost bond appeal.
Oil prices hit their highest since June as US-Iran conflict escalates, driving risk premium higher.
Sugar prices surged nearly 30% in five weeks to 18.15 cents per pound, the highest since April 2025, fueled by supply disruptions and speculative funds.
WTI crude oil turned bearish after failing above $91.31; decision zone $89.93-$90.13, targets down to $86.33.
Trump considers declaring an end to the Iran war, while the Pentagon extends troop deployments. Gold rebounds and the yen strengthens.
USD/JPY falls below 157.70 as hawkish BOJ comments and less hawkish Fed outlook weaken dollar, with geopolitics and payrolls in focus.
Trump is privately weighing declaring the Iran war over, while the Pentagon extends deployments, indicating a possible conflict into next year.
Kuwait's military says air defences are responding to Iranian missile and drone attacks, helping push oil prices higher.
US escorts 40 tankers carrying 18 million barrels through Strait of Hormuz in a single-day wartime high.
Oil rose to late-July highs after US-Iran strikes and a large crude inventory draw, but resistance at current levels stalled further gains.
A flood of headlines from Washington on beef, oil, China, AI, bonds, and Japan as officials tout plans but face delivery challenges.
In a satirical post, President Trump proposed renaming the Strait of Hormuz to 'Trump Strait'.
BOC Governor Macklem comments on inflation risks and policy outlook, influencing the CAD.
EIA data showed a larger-than-expected crude inventory draw of 4.45M barrels. Crude oil rebounded from $88.97 to $90.05, but remains down on the day.