11 stories on oil prices from MarketRadar.
USD/CAD fell for a sixth straight session to about 1.40, the loonie's strongest since September 22, as Brent crude near $111 and 80%-plus odds of a Bank of Canada rate hike did the pushing.
Brent crude changed hands at $110.10 on Tuesday morning, just under Monday's $110.70 five-month high, as Houthi strikes on Saudi infrastructure and record tanker freight rates kept a fat risk premium in the price. China's September data added another layer: refiners drew inventories at more than 500,000 barrels a day even as apparent demand slumped.
Crude gave back part of Friday's surge after Donald Trump waived key Russia sanctions, but vessel attacks in the Gulf and a fragile US-Iran backdrop keep the market on edge.
WTI crude settled at $100.63 on Friday, up 3% on the day and about 9% on the week, as desks bet the US could strike Iran — with Brent holding above $109 and natural gas sagging toward $3.10 on weak demand.
Brent crude climbed past $109 a barrel on Friday as violence near the Strait of Hormuz and Ukrainian strikes on Russian refineries squeezed supply, while WTI retook $100 for the first time in nearly a month.
Malaysia's KLCI added 9.56 points to close at 1,618.01 on Monday, but the two-day rebound is fading under the 1,620 level as Houthi attacks on Saudi airports sent crude oil about 2% higher and traders brace for Wednesday's US inflation data.
Japan's Nikkei 225 fell about 1% to 69,339.80 on Thursday, sliding below the 69,400 mark as hawkish Fed minutes, Brent crude above $101, and a tech-led Wall Street retreat hit Asian markets.
The S&P 500 and Nasdaq retreated from Tuesday's all-time highs as the 10-year Treasury yield touched its highest since 2002 and Brent crude pushed back above $100 a barrel.
Brent crude is anchored around $100 a barrel as attacks on tankers near the Strait of Hormuz collide with a G7 plan to tap 100 million barrels of emergency oil and diesel. The market's verdict so far: a little lower, not broken.
OPEC+ kept November oil output targets unchanged at its October 4 meeting, the second straight month of standing pat, as war disruption leaves Gulf output about 5 million barrels a day below prewar levels and Brent above $100.
Brent crude bounced back above $100 as China halted fuel exports and a third US aircraft carrier headed for the Gulf, keeping supply risk in the driving seat.
