Brent bias flipped 36 times to neutral on October 5, 2026
Brent crude is being driven by Middle East supply risks, including tanker strikes, Houthi attacks, and uncertainty around reopening the Strait of Hormuz, alongside offsetting supply signals such as G7 stock releases, rising Gulf exports, and Hormuz crude flows topping pre-war levels. Saudi Arabia unexpectedly cut oil prices to Asia while Aramco's CEO warned inventories are thin, and refinery margins that generally rose in the third quarter are in focus after a diesel release weighed on distillate margins.
Updated
The reading that day
NeutralAt the close of the UTC day.
BearishNeutralBullish
It changed 36 times during the day.
The day on the wire
00:0006:0012:0018:0024:00
The band shows the reading through the day; a mark shows where it changed. Each tick is a headline first seen that day.
The reading through the day
- 00:00Weak bullish
- 00:05Weak bearish
- 00:20Weak bullish
- 01:55Weak bearish
- 02:31Weak bullish
- 02:46Weak bearish
- 03:16Bullish
- 03:46Weak bearish
- 04:37Bullish
- 05:32Weak bearish
- 05:47Bearish
- 08:07Bullish
- 10:17Bearish
- 11:02Bullish
- 11:32Bearish
- 11:47Bullish
- 12:22Weak bearish
- 12:37Bullish
- 12:52Bearish
- 13:32Bullish
- 13:47Neutral
- 14:27Weak bullish
- 14:42Bullish
- 15:57Neutral
- 16:12Bullish
- 16:46Neutral
- 17:01Bearish
- 18:51Bullish
- 19:36Bearish
- 19:51Bullish
- 20:21Neutral
- 20:41Weak bearish
- 20:56Bearish
- 21:11Bullish
- 21:26Neutral
- 22:41Bullish
- 23:02Neutral
Headlines (15)
First seen on October 5
- Oil slips toward $102 as G7 stock release and rising Gulf exports offset Houthi attacksInvestingLive
- Oil prices fall as Middle East exports recover, G7 taps emergency stocksInvesting.com
- WTI drops to near $89.00 as OPEC+ holds November targetsFXStreet
- The Commodities Feed: Diesel release drives down distillate margins, capping oilING Think
- Saudi Arabia Unexpectedly Cuts Oil Prices To Asiagcaptain.com
- Oil Prices Fall as Hormuz Crude Flows Top Pre-War LevelsOilPrice.com
- Oil: Diverging supply signals shape Brent – INGFXStreet
- Crude oil prices and refinery margins generally increased throughout the third quartereia.gov
- Burst of Attacks in Gulf Heightens Fears Over Fragile Energy TradeThe New York Times
- Aramco CEO Warns Oil Inventories Are ‘Scarily Thin’OilPrice.com
Carried over from earlier days
- Iran says Hormuz to remain closed until US meets conditionsAl Jazeera
- More tankers struck in the Middle East as Iran reiterates conditions for reopening the Strait of HormuzCNBC
- Iraq Shifts Oil Strategy By Arranging Tanker To Move Past Hormuzgcaptain.com
- G7 orders 100 million barrel oil stock release, rejects energy export bansHellenic Shipping News
- Iran says no military solution to war as peace talks with US stallfrance24.com
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Monday, October 5 | ||
| Final Services PMI | 58.7 | USD |
| ISM Services PMI | 55.1 | USD |
| Bank Holiday | CNY | |
| Tuesday, October 6 | ||
| ADP Weekly Employment Change | USD | |
| Trade Balance | 1.5B | CAD |
| Trade Balance | -100.8B | USD |
| Ivey PMI | 65.2 | CAD |
| RCM/TIPP Economic Optimism | 44.5 | USD |