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BRENTHITS114TRADE FLOW INSIGHT
Oil & Fuel OilAggregated

Brent Hits $114 as Houthi Attacks Threaten Saudi Energy Infrastructure

Crude oil prices were on course to book a sharp weekly gain, with Brent crude on track for gains of about $6 per barrel and WTI registering a much more modest tick higher, from around $99 per barrel on Monday to over $100 earlier today. At the time of writing, Brent crude was trading at $114.00 per barrel, and West Texas Intermediate was changing hands for $100.40 per barrel, as hostilities in the Middle East remain front-page news for oil traders. The focus, however, seems to be on Houthi attacks on Saudi infrastructure, including Aramco facilities.…

Helena Marsh

Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens
Oil & Fuel OilAggregated

Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shortage, and traders have gone bullish. They are especially bullish on fuels in the United States, it seems. The world’s biggest crude oil consumer and the biggest exporter of crude and fuels has not managed to avoid a supply squeeze at…

Helena Marsh