Brent bias flipped 64 times to neutral on August 4, 2026
Brent prices are being driven higher by heightened Middle East tensions, specifically the ongoing Iran conflict, which has pushed oil prices up and sharply boosted profits for major producers like BP and Saudi Aramco. The surge in earnings has drawn political criticism, including from former President Trump, adding a political dimension to the market's current dynamics.
Updated
The reading that day
NeutralAt the close of the UTC day.
BearishNeutralBullish
It changed 64 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
- 00:04Bullish
- 00:16Neutral
- 00:32Bullish
- 00:48Bearish
- 01:28Bullish
- 03:48Neutral
- 04:56Bullish
- 05:32Neutral
- 06:24Bullish
- 06:32Weak bullish
- 06:56Neutral
- 07:33Weak bullish
- 08:21Weak bearish
- 08:41Bullish
- 09:01Bearish
- 09:29Bullish
- 09:45Neutral
- 09:57Bearish
- 10:21Bullish
- 10:33Neutral
- 11:02Bullish
- 11:14Neutral
- 11:30Bearish
- 11:38Neutral
- 11:46Bullish
- 11:54Bearish
- 11:58Neutral
- 12:02Bullish
- 12:10Bearish
- 12:30Bullish
- 12:42Neutral
- 13:14Bearish
- 13:38Neutral
- 13:50Bearish
- 14:02Bullish
- 14:42Bearish
- 14:58Bullish
- 15:02Weak bullish
- 15:07Bullish
- 15:11Neutral
- 15:19Bullish
- 15:23Neutral
- 15:27Weak bullish
- 15:39Bearish
- 16:19Weak bullish
- 16:27Neutral
- 16:31Weak bearish
- 16:35Neutral
- 16:47Bearish
- 17:03Bullish
- 17:41Neutral
- 18:14Bullish
- 18:18Neutral
- 18:26Bearish
- 18:54Bullish
- 19:02Bearish
- 19:54Bullish
- 20:02Bearish
- 20:42Neutral
- 20:54Weak bullish
- 21:02Bearish
- 21:10Neutral
- 21:34Bearish
- 22:06Neutral
Headlines (18)
First seen on August 4
- Saudi Aramco profits soar in second quarter as Iran war squeezes oilCNBC
- BP’s Profits Surge as Oil Traders Capitalize on Middle East VolatilityThe Wall Street Journal
- Oil profits spike as Middle East war fuels energy prices and Trump blasts soaring earnings – business liveThe Guardian
- BP profits more than double as Iran war sends oil prices soaringThe Guardian
- North Sea oil is a litmus test for Burnham | LettersThe Guardian
- Revealed: major oil firms make $93bn profits amid war and climate crisisThe Guardian
- US diesel prices overtake Biden-era average in blow to TrumpFinancial Times
- Oil spill from grounded tanker off Oman expands sharply, satellite images showABC News
- Strait of Hormuz disruption hits energy, fertilizer and industrial tradeUN News
- US stock market hits record highs as AI profits pile and oil prices easeThe Guardian
Carried over from earlier days
- Investors scored on Iran war's oil market boom. Staying long the trade will get trickierCNBC
- Rubio’s bypass plan: Can the world escape the Strait of Hormuz chokepoint?Al Jazeera
- CNBC Daily Open: Markets exhale as Trump steps back, OPEC+ steps upCNBC
- Trump slams Chevron CEO, demands immediate reduction in US fuel pricesAl Jazeera
- California's diesel prices have jumped since the Iran war started, with ripple effects across the countryCNBC
- Trump says Exxon and Chevron made 'too much money' off high oil prices during Iran conflict: 'I don't like it'CNBC
- Diamondback Energy Lifts Production Guidance, Reports Surging Profit on High Oil PricesThe Wall Street Journal
- Petrol prices strain US households as oil giants Chevron, Exxon profits soarAl Jazeera
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Tuesday, August 4 | ||
| Trade Balance | 3.0B | CAD |
| Manufacturing PMI | 52.2 | CAD |
| Wednesday, August 5 | ||
| RatingDog Services PMI | 53.7 | CNY |
| Crude Oil Inventories | -1.5M | USD |
| Friday, August 7 | ||
| Trade Balance | 735B | CNY |
| USD-Denominated Trade Balance | 108.6B | CNY |
| Unemployment Rate | 6.5% | CAD |
| Employment Change | 17.8K | CAD |