US EditionStanChart: Bearish Oil Glut Narrative Fades as Brent Breaks $70
7 Articles
7 Articles
StanChart: Bearish Oil Glut Narrative Fades as Brent Breaks $70
Oil prices surged to their highest level in months in Wednesday's session after reports emerged that U.S. President Donald Trump is weighing targeted strikes on Iranian military positions as he pursues regime change. Brent crude for March delivery was up 3.63% to trade at $70.92 per barrel at 12.40 pm ET, marking the first time Brent has crossed the pivotal $70 per barrel mark since July 2025, while the corresponding WTI contract gained 3.72% to…
The upward trend reflects investors' fear that a possible armed conflict will compromise the flow of hydrocarbons from the Middle East, a region that provides one third of the global supply.
Oil prices rose about 3 percent on Thursday to their highest in five months as markets worried that a potential U.S. attack on OPEC's top producer Iran could disrupt global supply, Reuters reported. Brent crude rose $2.10, or 3.1 percent, to $70.50 a barrel, while WTI crude rose $2.09, or 3.3 percent, to $65.30. Both benchmarks have entered technical overbought territory, with Brent on track to hit its highest level since July 31 and WTI on trac…
The price of Brent crude reached a price of about $70 per barrel, its highest intraday level since September 2025, driven by the increase in the geopolitical risk premium amid the new threats of US President Donald Trump to Iran, Bloomberg agency reported on Thursday. The post Crudo Brent rises to $70 per barrel as Trump escalates threats against Iran first appeared on Cubadebate.
Oil Prices Surge on Iran Tensions and Declining Exploration
You can’t buy this kind of entertainment. When President Trump throws out a mean Truth Social post, he can move the markets, but when an Aircraft Carrier Strike group shows up near Iran and Iraq, the oil traders panic. It is quite possible that the Glut Narative may just roll off into the sunset, as Stu Turley has said on the podcast “Where’s the Glut?” much like the “Where’s the Beef” Wendy’s commercial. We are seeing a commodities Supercycle s…
Coverage Details
Bias Distribution
- 67% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
