Brent crude and West Texas Intermediate's front-month contracts edged lower on reports of plans for diplomatic talks between Gulf states.
Oil rose in early trade on escalating concerns over supply disruptions in the Middle East
U.S. stocks fell for the fourth straight session and Treasury yields hit multiyear highs as U.S. oil prices topped the $100-per-barrel level while August inflation data revealed the toll energy costs are taking on commercial users.
Ultra-high-net-worth investors and family offices are looking to tap into long-term energy demand, not just commodity price swings, by investing in oil and gas assets, investment advisors told CNBC. However, the Iran war and the AI boom have created a seller's market and made it harder to find attractive valuations.
Chinese independent refiners have been rushing to secure crude from West Africa, Canada and South America in recent weeks, supporting spot premiums at multi-month highs as they replace thinning Iranian and Russian supplies, trade sources and analysts said.
U.S. stock futures edged higher and Brent continued to rise as investors positioned ahead of crucial U.S. inflation prints.
Oil rose amid the escalation in Middle East conflict that could exacerbate supply disruptions in the region.
U.S. stocks extended their recent decline as the war in the Middle East continued to escalate and to drive up oil prices.
President Trump says oil and gas prices won't come down until “right after” the midterm elections, as affordability issues remain top of mind for American voters.
Brent crude punched through $100 a barrel on Wednesday morning, hours after U.S. forces struck oil tankers linked to Iran's Islamic Revolutionary Guard Corps operating near the Strait of Hormuz.
Energy and resource stocks have zigged while the market has zagged.
Brent crude briefly crossed $100 a barrel amid an escalation in U.S.-Iran fighting. That was pressuring bonds.