Brent bias flipped 86 times to weak bullish on July 22, 2026
Oil prices have risen to a six-week high as hopes for de-escalation with Iran diminish, while Houthi missile and drone attacks on Red Sea shipping continue to threaten supply routes. A sharp jump in profits from Norway’s national oil company amid the conflict with Iran further underscores the geopolitical risk premium embedded in crude. These upward pressures are partly offset by a weekly build in U.S. commercial crude inventories and long-term supply additions from new gas projects in Abu Dhabi.
Updated
The reading that day
Weak bullishAt the close of the UTC day.
BearishNeutralBullish
It changed 86 times during the day.
The day on the wire
00:0006:0012:0018:0024:00
The band shows the reading through the day; a mark shows where it changed. Each tick is a headline first seen that day.
The reading through the day
- 00:00Neutral
- 00:21Bullish
- 00:28Neutral
- 00:56Weak bullish
- 01:04Neutral
- 01:09Bullish
- 01:29Weak bullish
- 01:33Bullish
- 02:09Neutral
- 03:39Weak bullish
- 03:47Bearish
- 04:11Bullish
- 05:03Neutral
- 06:39Weak bearish
- 06:43Bullish
- 06:47Weak bullish
- 06:51Bullish
- 06:55Neutral
- 06:59Bullish
- 07:31Weak bearish
- 07:59Bullish
- 08:16Bearish
- 08:32Bullish
- 08:36Bearish
- 09:00Weak bearish
- 09:04Bullish
- 09:08Weak bullish
- 09:16Bullish
- 09:48Neutral
- 10:04Bullish
- 10:12Bearish
- 10:36Neutral
- 10:52Bullish
- 11:12Neutral
- 11:16Bullish
- 11:28Neutral
- 11:36Weak bearish
- 11:44Bullish
- 11:57Neutral
- 12:49Bullish
- 12:57Neutral
- 13:21Bullish
- 13:25Neutral
- 13:33Bullish
- 14:01Neutral
- 14:05Bullish
- 14:17Neutral
- 14:29Bullish
- 14:33Neutral
- 14:41Bearish
- 14:57Bullish
- 15:01Neutral
- 15:05Weak bearish
- 15:29Neutral
- 15:57Bullish
- 16:01Bearish
- 16:05Neutral
- 16:13Bullish
- 16:17Bearish
- 16:30Neutral
- 16:38Bullish
- 16:46Neutral
- 16:54Weak bullish
- 16:58Neutral
- 17:06Bullish
- 17:26Weak bearish
- 17:34Bullish
- 18:11Neutral
- 18:27Bullish
- 18:35Neutral
- 19:00Bullish
- 19:04Neutral
- 19:44Weak bullish
- 19:48Bearish
- 19:56Bullish
- 20:04Weak bearish
- 20:13Bullish
- 20:37Neutral
- 20:45Bearish
- 20:49Neutral
- 21:05Bullish
- 21:09Neutral
- 21:13Bullish
- 21:17Neutral
- 22:33Bullish
- 22:37Neutral
- 23:45Weak bullish
Headlines (15)
First seen on July 22
- Iran war live: US launches new attacks; Hegseth says war has cost $37.5bnAl Jazeera
- US estimates cost of war in Iran at $37.5 billion as it renews strikes on Tehranfrance24.com
- Norway’s national oil company profits double to $11.5bn amid war on IranThe Guardian
- Oil prices climb to six-week high as hopes of de-escalation in Iran diminishMarketWatch
- $37.5bn cost of Iran war revealed as senator warns of ‘another forever war’ | First ThingThe Guardian
- Can the Suez save Asian oil consumers after Houthis shut Bab al-Mandeb?Al Jazeera
- Houthis deploy missiles and drones to attack ships in southern Red Sea, naval group saysCNBC
- U.S. Commercial Crude Oil Stockpiles Post Weekly BuildThe Wall Street Journal
Carried over from earlier days
- Middle East: Civilians again under fire as US-Iran strikes continueUN News
- Adnoc to invest in $6.2bn natural gas schemes as UAE bids for self-sufficiencyFinancial Times
- Adnoc, Partners to Proceed With $6.2 Billion Umm Shaif Gas Cap ProjectThe Wall Street Journal
- Abu Dhabi approves $6.2 billion gas project to boost UAE supplyCNBC
- Pete Hegseth faces questions over $87.6bn additional funding for PentagonThe Guardian
- Guterres calls for stepping up diplomatic efforts to end US-Iran conflictUN News
- US defense chief Hegseth puts Iran war cost at $37.5bn so farAl Jazeera
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Wednesday, July 22 | ||
| Foreign Direct Investment ytd/y | CNY | |
| Crude Oil Inventories | -2.0M | USD |
| Thursday, July 23 | ||
| Foreign Direct Investment ytd/y | CNY | |
| Core Retail Sales m/m | 1.3% | CAD |
| Retail Sales m/m | 1.0% | CAD |
| CB Leading Index m/m | CNY | |
| Friday, July 24 | ||
| NHPI m/m | -0.2% | CAD |
| IPPI m/m | -0.4% | CAD |