October futures for Brent crude oil fell to $82.74 per barrel in the…
October futures for Brent crude oil fell to $82.74 per barrel in the moment, amid signs of de-escalation of the conflict in the Middle East, according to trading data from the London ICE Futures exchange.
Consensus
- Oil prices, specifically Brent crude, rose on August 7 due to concerns about escalation in the Middle East.
- Futures on Brent crude were trading around $83.73 per barrel at 8:10 Moscow time on August 7.
- WTI crude futures also increased on August 7, reaching $78.24 per barrel by 8:10 Moscow time.
- There were reports of Houthi attacks on Yemeni government positions the day before.
- Iran and Oman were discussing a joint agreement on control of the Strait of Hormuz.
- The potential Iran-Oman agreement on the Strait of Hormuz caused market volatility.
Points of divergence
- The Houthi command confirmed a series of strikes on positions of Yemeni government forces, targeting military camps, vehicles, personnel concentrations, and weapon storage sites. — interfax
- Iran and Oman are discussing a deal on joint control of the Strait of Hormuz, with Iran demanding a ban on vessels from hostile countries, including the U.S. and Israel, and proposing fines of 20% of cargo value for violations. — interfax
- The Iranian Ministry stated that Tehran and Muscat had agreed on coordinates for a new shipping route through the Strait of Hormuz and were preparing a joint statement, but warned that the agreement could not guarantee safety due to potential destabilizing actions by the U.S. — interfax
- Brent crude temporarily fell to $82.74 per barrel during the day due to signs of de-escalation in the Middle East conflict. — vedomosti
- By 18:52 Moscow time, Brent futures were trading at $83.88 per barrel, with a daily high of $84.66. — vedomosti
- WTI crude futures fell by 5.80% to $79.76 per barrel by 18:52 Moscow time. — vedomosti
- U.S. President Donald Trump announced on August 3 that the U.S. would begin negotiations with Iran and had canceled planned attacks on Iran due to progress in talks. — vedomosti
- Trump stated that the U.S. agreed to postpone any attack if the conditions of a deal were agreed upon. — vedomosti
Coverage (14 sources)
- Oil Brent rose to $83.73 per barrel — Интерфакс
- Brent fell to $78.5 per barrel — Интерфакс
- Brent rose to $80.5 per barrel — Интерфакс
- Brent fell to $79.01 per barrel — Интерфакс
- Brent trades at $83.7 per barrel — Интерфакс
- Brent rose to $85.02 per barrel — Интерфакс
- Brent fell to $82.74 per barrel in the moment — Ведомости
- Brent oil price fell to $83.75 per barrel — Интерфакс
- Oil market remains in deep minus, Brent trades at $83.5 per barrel — Интерфакс
- Oil remains in the plus, Brent trades around $88.6 per barrel — Интерфакс
- Oil prices turned to growth, Brent trades at $90.2 per barrel — Интерфакс
- Brent fell to $87.33 per barrel — Интерфакс
- Brent rose by 7.05% to $90.02 per barrel — Интерфакс
- Brent подорожала до $88,25 за баррель — Интерфакс