Oil: Headline-driven gains with Hormuz risk premium – ING
ING analysts Ewa Manthey and Warren Patterson note that ICE Brent and NYMEX WTI have rebounded after three sessions of losses as renewed US‑Iran tensions in the Strait of Hormuz lift the risk premium. They highlight constrained flows through the key shipping chokepoint and see Oil prices remaining highly sensitive to geopolitical headlines in coming sessions.
Crude supported by Hormuz disruptions
"ICE Brent and NYMEX WTI moved higher on Friday morning after three straight sessions of losses, amid reports of renewed clashes between US and Iranian forces. Brent rose nearly 3% to just below USD 103/bbl. The rebound followed US strikes on Iranian military targets after Iran fired on three US Navy destroyers in the Strait of Hormuz."
"In Singapore, inventories fell by 1.1mbbl to 44.8mbbl, the lowest level since July 2025, as US-Iran tensions curtailed Middle Eastern exports. The decline was driven by middle distillates (‑0.8mbbl) and light distillates (‑0.6mbbl). Residual fuel stocks, however, increased by 387kbbl to 19.9mbbl."
"While tensions have escalated, the US has signalled no immediate intent to intensify the conflict and is reportedly still awaiting Iran’s response to a proposal to reopen the trade route."
"Looking ahead, oil prices are likely to remain highly headline‑driven, with the recent escalation reinforcing the risk premium. With flows through the Strait of Hormuz unlikely to normalise quickly, markets remain exposed to further upside on any setbacks in diplomatic efforts."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
NVIDIA (NVDA.US) management changes may affect Anthropic's IPO plans; the market is watching whether the multi-billion-dollar investment will change
With the sudden departure of Nvidia CEO Jensen Huang, the record-breaking initial public offering plan of AI giant Anthropic is being reconsidered by the market.
Nebius Q3 results exceed expectations, capital expenditure rises to $27 billion, ARR target postponed, stock falls over 14% pre-market | Earnings Report Insights
Nebius reported Q3 revenue of $981 million (a year-on-year increase of 571%) and adjusted EBITDA of $466 million, both exceeding expectations. However, the company delayed and lowered its guidance for annual recurring revenue (ARR), stating that it is no longer applicable. Additionally, it significantly raised its 2026 capital expenditure target to $27 billion, with projections to further increase to $40 billion to $45 billion in 2027. The stock price plummeted more than 14% in pre-market trading.
AUD/USD Price Forecast: Breakdown of H&S pattern keeps the pair under pressure
U.S. Stock Market Preview | Major Index Futures Mixed; Nvidia Plunges Pre-market; Fed Officials' Speeches Incoming
Before the U.S. stock market opens on Thursday, November 12, the three major U.S. stock index futures showed mixed movements.
Crypto prices
More
