Oil futures rise as Middle East tensions persist
WTI crude oil futures are higher in early U.S. trading as Middle East tensions continue, with attention also on a storm heading toward the U.S. Gulf coast.
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Asia shares weaker, oil up on Saudi-Houthi tensions, Gulf storm threat
Asian markets were weaker as investor confidence flagged, while oil prices rose due to a storm threat in the Gulf of Mexico and escalating Saudi-Houthi tensions. MSCI's broadest index of Asia-Pacific shares excluding Japan fell 0.5%.
TSX Futures Edge Lower on Elevated Yields
Futures tracking Canadian equities edged lower on Thursday as a sharp rise in global government bond yields weighed on stock markets. Canada’s 10-year government bond yield neared a three-year high as energy-driven inflation concerns persisted and US Treasury yields soared to multi-decade highs. Crude oil rose amid hei
Global diesel shortage expected to persist into 2027 amid draining inventories
A global diesel shortage, exacerbated by conflicts in Ukraine and Iran, is unlikely to ease before next year. US diesel inventories are at a record low for this time of year, and the EIA forecasts them to remain below 100 million barrels through 2026 and into 2027.
US gasoline futures rise to six-week high around $3.35/gal
US gasoline futures rose to around $3.35 a gallon, the highest level since late July. Tehran stated it would continue counterstrikes if attacks from the US military persist, while Saudi crude output in August plunged to its lowest since 1990.
Oil prices could rise as US SPR falls to 1980s low
Market strategist Ryan Detrick said the U.S. Strategic Petroleum Reserve has dropped to 286 million barrels from 415 million at the start of March, its lowest since the early 1980s. He said the drawdown leaves less cushion if the conflict continues.
EIA raises 2026 oil price outlook after Middle East output losses
The EIA now expects Brent crude to average about $91 a barrel in 2026 and WTI $84.65, both higher than its prior forecast. The agency said global oil stocks have fallen by an estimated 400 million barrels this year and cited reduced Middle East production and exports.
Oil tops $85 as Hormuz disruption lifts energy ETFs
U.S. crude rises above $85 a barrel as Strait of Hormuz disruption keeps oil logistics under strain, with USO, XOP and OIH each in the green year to date.