Oil remains on edge – ING

Source Fxstreet

Oil prices are rising again after President Donald Trump called for the evacuation of Tehran, ING's commodity experts Ewa Manthey and Warren Patterson note.

Oil spikes as Trump calls for Tehran evacuation

"His comments, which stood in contrast with previous optimism that the Israel-Iran conflict wouldn’t escalate into a broader regional conflict in the Middle East, renewed volatility in financial markets. On Monday, there were reports that Iran had signalled that it wanted to deescalate hostilities with Israel and was willing to restart nuclear talks as long as the US doesn’t join the Israeli attack."

"The US President has cut short his G-7 visit, reportedly due to escalating tensions in the Middle East, which has sparked speculation about potential US involvement in the conflict. The market remains on edge with the biggest fear a potential blockage of the Strait of Hormuz, which would lead prices to soar further."

"Almost a third of global seaborne Oil trade moves through the Strait of Hormuz. So far, Oil-exporting infrastructure has been avoided and there has been no blockage of the Strait of Hormuz."


Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Silver Price Forecast: XAG/USD has a strong support at $40.50Silver (XAG/USD) has reversed losses after bouncing at $40.50 earlier on Monday, with price action returning to levels right above $41.00.
Author  FXStreet
Yesterday 08: 22
Silver (XAG/USD) has reversed losses after bouncing at $40.50 earlier on Monday, with price action returning to levels right above $41.00.
placeholder
US Dollar Index Price Forecast: 100-day SMA remains a key barrierThe US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.15% lower around 97.60 during the European trading session on Monday.
Author  FXStreet
Yesterday 09: 20
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.15% lower around 97.60 during the European trading session on Monday.
placeholder
3 Red Flags for XRP in September That Could Derail a 2025 Price RallyDespite many positive predictions for XRP’s price in 2025, several on-chain data points reveal a different picture.
Author  Beincrypto
Yesterday 09: 27
Despite many positive predictions for XRP’s price in 2025, several on-chain data points reveal a different picture.
placeholder
Ethereum Price Forecast: BitMine's ETH stash surpasses $9 billion amid ETF outflow pressureEthereum (ETH) trades around $4,300 on Monday following mixed sentiment from corporate treasuries and investors in ETH exchange-traded funds (ETFs).
Author  FXStreet
14 hours ago
Ethereum (ETH) trades around $4,300 on Monday following mixed sentiment from corporate treasuries and investors in ETH exchange-traded funds (ETFs).
placeholder
U.S. August CPI Preview: Persistent Rise in Inflation, What Impact on Rate Cuts? And on US Stocks?On Thursday, the U.S. will publish August CPI data. Consensus forecasts indicate a 0.3% month-over-month increase for both headline CPI and core CPI.
Author  TradingKey
7 hours ago
On Thursday, the U.S. will publish August CPI data. Consensus forecasts indicate a 0.3% month-over-month increase for both headline CPI and core CPI.
goTop
quote