WTI bias flipped 3 times to bullish on October 4, 2026
Supply concerns linked to the Strait of Hormuz are in focus after Iran said it will remain closed until the US meets conditions, while reports described more tankers being struck in the Middle East. Headlines also cite Houthi attacks on Saudi Aramco sites and Iraq arranging a tanker to move past Hormuz, with the strait described as the main focus of talks to end the war with the US. In response, G7 nations ordered a 100 million barrel oil stock release while rejecting energy export bans and avoiding a diesel ban.
Updated
The reading that day
BullishAt the close of the UTC day.
BearishNeutralBullish
It changed 3 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
- 00:00Neutral
- 22:30Bullish
- 23:00Neutral
- 23:30Bullish
Headlines (22)
First seen on October 4
- Iran says Hormuz to remain closed until US meets conditionsAl Jazeera
- OPEC, Allies Hold Oil Output Steady Amid Middle East TensionsThe Wall Street Journal
- 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
- Oil climbs after Yemeni Houthis attack Saudi Aramco sitesInvesting.com
- Middle East War updates: Iran says Strait of Hormuz main focus of talks to end war with USFXStreet
- Iran "Decision Week": Trump Teases "Easy Way Or Hard Way" As Tankers Burn, Rial Craters And Tehran's Oil Minister QuitsZeroHedge
Carried over from earlier days
- WTI holds steady near $92.00 as US weighs sending more troops to Middle EastFXStreet
- WTI Oil edges down below $91.00 amid reports of higher flows from the GulfFXStreet
- Oil dips as traders weigh U.S.-Iran tensions against supply recoveryHellenic Shipping News
- WTI Whipsaws as Gulf Supply Improves and Middle East Risk ReturnsOilPrice.com
- WTI Sinks Nearly 4% as EU Weighs Emergency Stockpile ReleaseOilPrice.com
- U.S. and Allies Agree to Release Diesel Reserves as Prices SoarThe New York Times
- IEA announces 100 million barrel oil reserve releaseInvesting.com
- Dated Brent Above $120 Signals a Serious Oil SqueezeOilPrice.com
- Iran's Disappearing Oil Is Becoming Everyone's ProblemZeroHedge
- Oil Falls as G7 Taps Emergency Suppliesrigzone.com
- Discount on Western Canada Select widensboereport.com
- G7 nations bow to US pressure and avoid crippling diesel banAl Jazeera
- Green party conference continues with cost of living on the agenda – UK politics liveThe Guardian
- G7 to release 100 million barrels of oil and diesel, will it curb prices?Al Jazeera
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Sunday, October 4 | ||
| OPEC-JMMC Meetings | All | |
| Bank Holiday | CNY | |
| 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 | 1.3B | CAD |
| Trade Balance | -95.2B | USD |