Crude Futures Settlement: WTI Rises USD 0.36 Amid Middle East Tensions
Newsquawk ·
The crude market concluded the final trading session of the week with gains as traders braced for weekend developments. WTI crude futures for October delivery settled USD 0.36 higher at USD 91.85 per barrel. During the European morning session, WTI and Brent touched session lows of USD 90.01 and USD 102.33 per barrel, respectively. Prices were initially pressured by comments made on Thursday by Trump, stating that discussions with Iran were productive and that no military strikes would occur before the midterms. However, benchmarks trimmed their losses following a wave of reports from the Middle East. These included warnings from the IRGC regarding vessels violating restrictions beyond the Strait of Hormuz, military sources reporting that Houthi forces planted mines in the Bab al-Mandab area, and an IRGC claim that it struck the LPG carrier NV Sunshine after it attempted an unauthorised transit south of the Strait of Hormuz.
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WTI crude oil futures closed up $0.36 from the previous session at $91.85 per barrel amid heightened geopolitical tensions in the Middle East. Reports of a vessel attack near the Strait of Hormuz and Houthi rebel mine-laying raised concerns over crude supply disruptions, driving prices higher. Investors should closely monitor Middle East supply risk news over the weekend and adjust their positions.
상승 영향
- Crude Oil — WTI rose to $91.85 as supply disruption concerns grew due to a vessel attack in the Strait of Hormuz and mine-laying in the Bab el-Mandeb Strait.
- Energy — Intensifying Middle East geopolitical risks are putting upward pressure on oil and gas prices, expected to improve the profitability of related energy companies.
하락 영향
- Airlines — Rising crude prices directly increase jet fuel costs, a core expense for airlines, directly deteriorating their profitability.
- Shipping — Military tensions and vessel attack threats in Middle Eastern straits cause operational disruptions and soaring insurance premiums, acting as a negative factor for the shipping industry.
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