West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $93.10 during the early European trading hours on Thursday. The WTI price falls as a ceasefire agreement between Israel and Lebanon renewed hopes for diplomatic progress.
TD Securities’ Ryan McKay notes that Gold is struggling to recover as renewed tariffs and US-Iran tensions fuel an inflationary impulse and push expectations for a Federal Reserve (Fed) hike into early 2027.
Deutsche Bank’s Jim Reid and colleagues outline a baseline scenario in which a US-Iran agreement this month reopens the Strait of Hormuz, allowing Brent Oil to retreat toward $86 per barrel in Q4 2026.