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US equity futures rebounded 0.6% ahead of key August consumer inflation data, breaking a four-session losing streak. Meanwhile, WTI and Brent crude dropped over 3% following downward revisions to glo…
Brent crude tumbled nearly 4% below $105 as Iran and Gulf states planned diplomatic talks in Oman regarding Strait of Hormuz shipping. Additionally, the IEA and OPEC slashed long-term global oil dema…
US stocks rose after a weaker-than-expected PPI report eased inflation fears, while crude oil fell sharply on a massive inventory build and IEA demand-contraction forecast.
Crude oil dropped below $82 after five days of gains as weak demand outlook and a massive US inventory build overshadowed ongoing Strait of Hormuz supply risks. Oil still up nearly 5% for the week.