$LCOU6

September WTI Crude Oil Contract Closes Up $1.08, or 1.3%; Settles at $84.67 per Barrel. September Brent Oil Was Last Seen Up $1.07, or 1.2%, to $90.10 per Barrel

September WTI Crude Oil Contract Closes Down $0.87, or 1%; Settles at $83.59 per Barrel. September Brent Oil Was Last Seen Down $1.49, or 1.6%, at $89.25 per Barrel.

September WTI Crude Oil Contract Closes up $5.20 or 6.6%, Settles at $84.46 per Barrel. September Brent Oil Was Last Seen Up $6.79, or 8.1%, to $90.88

Canada Commodities: Oil Higher as US-Iran Hostilities Resume, Saudi Arabia Joins Conflict

Crude oil prices jumped Wednesday, reversing three days of declines, after President Trump said Tuesday night the US will hit Iran "hard" for an attempted surprise attack on American forces in the Middle East. US Central Command did not specify location details.Brent crude futures for September was up 8.1% to $90.90 per barrel, while West Texas Intermediate futures, the US benchmark, advanced 7.7% to $85.37.The rise comes as Saudi forces joined the United States to strike several sites in eastern Iraq, retaliating against drone attacks on Saudi territory. The renewed fighting is again lowering hopes for a full return of supply from the Persian Gulf, which accounted for 20% of daily oil demand before the war blocked the Strait of Hormuz.Gold was last seen down 0.8% to $4,065.80, the lowest level since last October. Traders are waiting to see if the US Federal Reserve's policy committee will announce an interest rate hike when it ends its two-day meeting at 2:00 p.m ET on Wednesday.Wheat futures edged up 0.08% to $6.63 per bushel, while canola futures fell 0.96% to C$775.40 per tonne.

September WTI Crude Oil Contract Closes Down $3.35, or 4.1%, Settles at $79.26 per Barrel. September Brent Oil Last Seen Down $4.46, or 5.1%, at $83.90

Canada Commodities: Oil and Gold Lower as Pause in US-Iran Hostilities Seem to be Holding

Prices for key Canadian export commodities fell on Tuesday, with oil and gold in the red as a pause in the US-Iran hostilities appeared to be holding and discussions on the future of the Strait of Hormuz continued.September West Texas Intermediate crude oil was last seen down 5.7% to $77.29 a barrel, the lowest since July 10, while September Brent oil lost 4.5%% to $84.46 a barrel.Oil dropped for the third-straight session even as the United States and Iran paused attacks, with Reuters reporting Oman is proposing a Gulf States-backed plan for managing traffic through the Strait of Hormuz following an end to hostilities.November gold was fell and was last seen down 0.7% to $4,106.30 per ounce, as traders assessed the possibility that the US Federal Reserve's policy committee could announce an interest rate hike when it ends its two-day meeting at 2:00 p.m ET on Wednesday. The CME FedWatch tool sees a 29.9% probability the committee will raise rates by 25 basis points.

Oil Trading Sharply Lower as Middle East Fighting Calms, Reviving Peace Hopes

Oil traded sharply lower early on Monday as the US and Iran paused fighting over the weekend, reviving hopes the pair will reach a peace deal.West Texas Intermediate crude oil for September delivery was last seen down $5.24. or 5.9%, to $84.07 per barrel, while September Brent oil, was down $6.25, or 6.5%, to $90.53.The drop comes as the US and Iran paused fighting over the weekend, with US officials on the weekend saying talks are continuing, raising hopes the two countries will be able to reach a deal to end the war that is about to enter its sixth month."Brent crude fell as much as 7.4% at Monday's open, briefly dipping below 90 dollars a barrel, and was trading near 88 into the European morning; WTI fell about 5% to around 85. The move reverses part of last week's surge that briefly took Brent above 100 dollars, a level last seen in late May," Saxo Bank noted.

September WTI Crude Oil Contract Closes Down $2.88, or 3.1%; Settles at $89.31 per Barrel

Oil Falls Off a Six-Week High Even as Middle East Fighting Continues

Oil prices retreated from six-week highs early on Friday even as Middle East fighting continues, with Iran and the US continuing attacks and Houthi militants threatening shipping in the Red Sea.West Texas Intermediate crude oil for September delivery was last down $2.60, or 2.8%, to $89.59 per barrel, while September Brent oil was down $3.12, or 3.1%, to $97.57.The drop comes even as conflict continues to block exports from the Persian Gulf producers who supplied 20% of daily oil demand prior to the Feb. 28 start to the war on Iran. The US continued attacks on Iran, with the Guardian reporting President Donald Trump may heighten strikes, saying he is considering "a massive attack" on the country.As well, Houthi militants on Thursday attacked ships in the Red Sea carrying Saudi crude, threatening to shut in shipments through the sea, adding to the supply shock that followed Iran's closure of the Strait of Hormuz at the start of the war.Only 15 ships have moved through the Strait in the past day, according to hormuzstraitmonitor.com, 17% of prewar traffic, while Reuters reported shipping through the Bab el-Mandeb Strait, where the Red Sea joins the Indian Ocean, fell to two ships on Thursday, down from 32 a day earlier.Drone attacks on ships in the Black Sea loading oil from the Caspian Pipeline Consortium is further cutting into supply."Crude oil closed above 100 dollars a barrel for the first time since May (on Thursday), with Brent up about 7% to 100.69 and WTI near 92, leaving oil up roughly 38% this month. The bid reflects Houthi attacks on Red Sea tankers, President Trump's threat of a 'massive attack' on Iran, and strikes on the Caspian Pipeline Consortium terminal that handles most Kazakh crude," Saxo Bank wrote.

Update: WTI Oil Jumps as US-Iran Conflict, Houthi Attacks Escalate Supply Fears

(Updates prices in the second paragraph.)West Texas Intermediate (WTI) crude oil closed sharply higher on Thursday, rising for a fifth straight day as fighting between the US and Iran continued and Yemen's Houthi militants widened the Middle East conflict by attacking two tankers carrying Saudi oil in the Red Sea.WTI crude oil for September delivery up $5.36, or 6.2%, to settle at $92.19 per barrel, its highest level since June 4, while September Brent crude was last seen up $7.16, or 7.6%, at $101.23.The gains came as continued fighting in the Middle East heightened supply risks. The conflict between the US and Iran entered a 12th day, with reports that Iran launched strikes on targets in Kuwait while the US continued attacking Iranian facilities.The fighting has blocked most shipping through the Strait of Hormuz, the chokepoint for exports from Persian Gulf countries that supplied about 20% of global daily oil demand before the war began. Only 14 ships moved through the strait over the past day, according to hormuzstraitmonitor.com, leaving 440 vessels waiting to transit the waterway.Yemen's Houthis also attacked two tankers carrying Saudi oil exports in the Red Sea, further heightening supply concerns as the militants sought to disrupt Middle East exports."Crude oil extended its rally, with Brent rising as much as 2.5% to almost 96.50 dollars a barrel, its highest since early June, after Iran-backed Houthi militants struck two Saudi tankers in the Red Sea. WTI traded toward 88 dollars, leaving oil up close to 30% this month. The bid reflects the US-Iran conflict, the Houthi threat to Red Sea shipping through the Bab el-Mandeb Strait, and Tehran's dismissal of peace talks," Saxo Bank wrote.

September WTI Crude Oil Contract Closes Up $5.36, or 6.2%; Settles at $92.19 per Barrel

Oil Jumps as US-Iran Conflict, Houthi Attacks Escalate Supply Fears

Oil traded sharply higher early Thursday, rising for a fifth straight day as fighting between the US and Iran continued and Yemen's Houthi militants widened the Middle East conflict by attacking two tankers carrying Saudi oil in the Red Sea.West Texas Intermediate crude oil for September delivery was last seen up $3.73, or 4.3%, at $90.56 per barrel, its highest level since June 4, while September Brent crude rose $4.43, or 4.7%, to $98.50.The gains came as continued fighting in the Middle East heightened supply risks. The conflict between the US and Iran entered a 12th day, with reports that Iran launched strikes on targets in Kuwait while the US continued attacking Iranian facilities.The fighting has blocked most shipping through the Strait of Hormuz, the chokepoint for exports from Persian Gulf countries that supplied about 20% of global daily oil demand before the war began. Only 14 ships moved through the strait over the past day, according to hormuzstraitmonitor.com, leaving 440 vessels waiting to transit the waterway.Yemen's Houthis also attacked two tankers carrying Saudi oil exports in the Red Sea, further heightening supply concerns as the militants sought to disrupt Middle East exports."Crude oil extended its rally, with Brent rising as much as 2.5% to almost 96.50 dollars a barrel, its highest since early June, after Iran-backed Houthi militants struck two Saudi tankers in the Red Sea. WTI traded toward 88 dollars, leaving oil up close to 30% this month. The bid reflects the US-Iran conflict, the Houthi threat to Red Sea shipping through the Bab el-Mandeb Strait, and Tehran's dismissal of peace talks," Saxo Bank wrote.

Update: Oil Climbs to Six-Week High as US-Iran Conflict, Red Sea Threats Elevate Supply Fears

(Updates prices in the second paragraph and adds EIA data in the final parpagraph.)West Texas Intermediate (WTI) crude oil closed at a six-week high Wednesday as the US continued attacks on Iran, keeping the Strait of Hormuz closed, while Yemen's Houthi militants threatened to block Saudi oil exports in the Red Sea.WTI crude for September delivery closed up $2.49, or 3%, to settle at $86.83 per barrel, the highest level since June 11, while September Brent crude was last seen up $3.22, or 3.5%, to $94.23.The gains came as the escalating conflict between the US and Iran kept the Strait of Hormuz closed. The Guardian reported that US forces launched strikes on Iran for an 11th consecutive night, targeting aircraft hangars and drone storage facilities.The conflict has blocked the Strait of Hormuz, the chokepoint for about 20% of global oil consumption supplied by Persian Gulf nations before the war began on Feb. 28. Just 14 ships transited the waterway over the past day, according to hormuzstraitmonitor.com, leaving about 400 vessels, including 120 tankers, stranded in the Gulf.Yemen's Houthi militants added to the supply worries with a threat to block the Bab el-Mandeb Strait, the southern end to the Red Sea, to restrict Saudi exports through the sea.Oil's "move reflects the ongoing US-Iran conflict, now in its 11th day, a Houthi threat to Red Sea shipping, and production shut-ins as Tropical Storm Bertha moves through the Gulf of Mexico, which pushed the Mars crude premium to around $2 a barrel over WTI, its strongest since early June", Saxo Bank noted.In its weekly survey, the Energy Information Administration said US commercial oil inventories rose by 2.0-million barrels last week, while analysts polled by Reuters expected a 1.1-million barrel drop.

September WTI Crude Oil Contract Closes Up $2.49, or 3%; Settles at $86.83 per Barrel

Oil Climbs to Six-Week High as US-Iran Conflict, Red Sea Threats Elevate Supply Fears

Oil traded at a six-week high early Wednesday as the US continued attacks on Iran, keeping the Strait of Hormuz closed, while Yemen's Houthi militants threatened to block Saudi oil exports in the Red Sea.West Texas Intermediate crude for September delivery was last seen up $3.00, or 3.6%, at $87.34 per barrel, the highest level since June 10, while September Brent crude rose $3.41, or 3.8%, to $94.92.The gains came as the escalating conflict between the US and Iran kept the Strait of Hormuz closed. The Guardian reported that US forces launched strikes on Iran for an 11th consecutive night, targeting aircraft hangars and drone storage facilities.The conflict has blocked the Strait of Hormuz, the chokepoint for about 20% of global oil consumption supplied by Persian Gulf nations before the war began on Feb. 28. Just 14 ships transited the waterway over the past day, according to hormuzstraitmonitor.com, leaving about 400 vessels, including 120 tankers, stranded in the Gulf.Yemen's Houthi militants added to the supply worries with a threat to block the Bab el-Mandeb Strait, the southern end to the Red Sea, to restrict Saudi exports through the sea.Oil's "move reflects the ongoing US-Iran conflict, now in its 11th day, a Houthi threat to Red Sea shipping, and production shut-ins as Tropical Storm Bertha moves through the Gulf of Mexico, which pushed the Mars crude premium to around $2 a barrel over WTI, its strongest since early June", Saxo Bank noted.In its weekly survey, the American Petroleum Institute reported US oil inventories rose by 2.6-million barrels last week, while the consensus estimate expected a drop of 1.5-million barrels, according to Investing.com. The Energy Information Administration will release official storage data later on Wednesday morning.

Update: WTI Oil Rises Again as Fighting Between US and Iran Keeps Tankers Trapped in Persian Gulf

(Updates prices in the second paragraph.)West Texas Intermediate (WTI) crude oil rose on Tuesday, climbing for a third straight session as fighting between Iran and the United States continues to constrain Persian Gulf supply.WTI crude oil for August delivery closed up $1.68, or 2%, to settle at $84.91 per barrel, while September Brent was last seen up $1.70, or 1.9%, to $90.92.The rise comes as fighting continues to block shipping in the Strait of Hormuz, the chokepoint for a fifth of daily oil demand supplied by countries in the region prior to the start of the war. The UK Maritime Trade Operations agency reported an attack on a vessel moving through the strait on Monday, forcing the crew to abandon ship.The renewed fighting has pushed oil up by 13% over the past month, as buyers hunt for supply and tankers wait to move through the strait. Hormuzstraitmonitor.com reported that just 13 ships moved through in the last day, with 142 tankers still waiting to move out of the region.A fresh threat to the market came on Monday, after Yemen's Houthi militant group threatened to close the Bab al-Mandab Strait at the southern end of the Red Sea, blocking Saudi Arabia's exports through the sea, pushing prices higher.Still, a Reuters report that mediators are proposing a 10-day ceasefire to renew negotiations between Iran and the US raised hopes the two sides may reach an agreement to end fighting."The move (higher) came from the Houthi maritime blockade on Saudi Arabia, a tenth consecutive day of US strikes on Iran and a tanker strike in the Strait of Hormuz. Crude gave some of that back overnight, with Brent easing 0.7% to around USD 88.55 as reports of a possible 10-day pause in strikes circulated," Saxo Bank wrote in a note.

August WTI Crude Oil Contract Closes Up $1.68, or 2%; Settles at $84.91 per Barrel

Oil Rises Again as Fighting Between US and Iran Keeps Tankers Trapped in Persian Gulf

Oil prices rose early on Tuesday, climbing for a third straight session as fighting between Iran and the U.S. continues to keep Persian Gulf supply constrained.West Texas Intermediate crude oil for August delivery was last seen up $1.07, or 1.3%, to $84.30 per barrel, while September Brent was up $1.43, or 1.6%, to $90.65.The rise comes as fighting continues to block shipping in the Strait of Hormuz, the chokepoint for a fifth of daily oil demand supplied by countries in the region prior to the start of the war. The UK Maritime Trade Operations agency reported an attack on a vessel moving through the strait on Monday, forcing the crew to abandon ship.The renewed fighting has pushed up oil by 13% over the past month, as buyers hunt for supply and tankers wait to move through the strait. Hormuzstraitmonitor.com reported just 13 ships moved through in the last day, with 142 tankers still waiting to move out of the region.A fresh threat to market came on Monday, after Yemen's Houthi militant group threatened to close the Bab al-Mandab Strait at the southern end of the Red Sea, blocking Saudi Arabia's exports through the sea, pushing prices higher.Still, a Reuters report that mediators are proposing a 10-day ceasefire to renew negotiations between Iran and the U.S. raised hopes the two sides may reach an agreement to end fighting."The move (higher) came from the Houthi maritime blockade on Saudi Arabia, a tenth consecutive day of US strikes on Iran and a tanker strike in the Strait of Hormuz. Crude gave some of that back overnight, with Brent easing 0.7% to around USD 88.55 as reports of a possible 10-day pause in strikes circulated," Saxo Bank wrote in a note.

Update: WTI Oil Rises as Iran and the US Continue Fighting

(Updates prices in the second paragraph.)West Texas Intermediate (WTI) crude oil closed higher Monday, with continuing fighting between Iran and the United States offsetting reports that talks between the two countries may resume.WTI crude oil for August delivery closed up $0.74, or 0.9%, to settle at $83.23 per barrel, while September Brent crude was last seen up $1.08, or 1.2%, to $89.18.The rise comes despite early reports that Iran remains open to a negotiated settlement to the war launched by the US and Israel on Feb. 28, The Guardian reported. Iranian officials said mediators continue to exchange messages aimed at ending the conflict, while US Secretary of State Marco Rubio said he is open to fresh talks.Fighting continued over the weekend, with Iran striking ships transiting the Strait of Hormuz and its Persian Gulf neighbors and the US attacking targets in Iran. The conflict has left ships trapped inside the Persian Gulf, disrupting traffic through the Strait of Hormuz, the key chokepoint for exports from Persian Gulf producers that supplied about one-fifth of global oil demand before the war.Shipping through the Strait has almost stalled amid the fighting, with hormuzstraitmonitor.com reporting just four ships have moved through the waterway over the past day, leaving 490 ships that included 175 tanker trapped and waiting for a peace deal that is likely to favor Iran."Little has changed from the underlying fundamentals prevailing earlier in the conflict. Iran's leaders fear a disadvantageous peace more than a disadvantageous war, risking a prolonged conflict even at greater long-term economic cost. A more constructive-leaning take on the recent fighting is that this represents a last-ditch US attempt to find a geopolitical hook to avoid a strategic defeat, before accepting a reopened Strait under some Iranian influence," wrote Erik Meyersson, Chief Emerging Markets Strategist at SEB Research.

August WTI Crude Oil Contract Closes Up $0.74, or 0.9%; Settles at $83.23 per Barrel