Oil prices slid on Thursday though Asia's imports of crude oil rose in September to the highest level since the start of the Iran war.
Pezeshkian said on Wednesday that Tehran would never surrender to the US but still believes in diplomacy. On Tuesday, Trump used a speech at the same forum to make his threat.
According to the EIA, US crude oil stockpiles unexpectedly grew by 3 million barrels for the week ending 18 September, defying Reuters poll predictions of a small draw, while overall fuel inventories decreased.
Saudi Arabia has brought its East-West oil pipeline back online, positioning the country to restart crude exports from the Red Sea terminal in Yanbu, according to industry sources.
Trader said earlier the country faces an imminent export freeze if its primary Red Sea pipeline remains offline for more than a few days, risking a sudden disruption of up to 4% of global oil supplies.
Global oil supplies will plunge by 5.7 million bpd (about 6%) this year, according to the IEA, following August shipping bottlenecks in the Strait of Hormuz and the Red Sea.
EBC Financial Group analyst says WTI crude showed a classic double bottom trend reversal pattern - a sign of bear fatigue. A hold above $90 would likely expose $93.6.
Asset Recap
As of market close on 23 September, among EBC major products, Veeva Systems shares led gains on earnings beat. Wall St banks raised the price targets, highlighting AI as a major upside driver.
McDonald plans to raise operating margins, launch a new multiyear employee training programme, and spend billions of dollars supporting franchisees' equipment and tech upgrades.
Gold prices declined as the dollar strengthened and investors assessed the outlook for inflation and Fed interest rates. There are signs that Chinese investors are increasing gold purchases.
A portfolio diagnostic is critical to managing tail risk. EBC Turbo leverages a proprietary scoring model to run a six-dimensional analytics scan within 5 seconds, mapping your risk-return dynamics and decoding your trading DNA.
EBC Financial Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Global Financial Collaboration or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
