Brent bias flipped 5 times to neutral on August 29, 2026
Brent crude is being driven by heightened geopolitical risk in the Middle East, particularly around the Strait of Hormuz, where Iran's IRGC claims full control and Tehran has warned oil flows are 'all or none'. Fading hopes for an Iran deal and the ongoing conflict have lifted oil prices, while US assertions of control over Venezuelan reserves add another supply-side factor. Gas prices have risen since the war began, reflecting market concerns over potential supply disruptions.
Updated
The reading that day
NeutralAt the close of the UTC day.
BearishNeutralBullish
It changed 5 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
- 00:17Bearish
- 01:17Weak bullish
- 01:53Neutral
- 07:39Weak bearish
- 07:59Neutral
Headlines (14)
First seen on August 29
- IRGC Navy says it has 'full control' over Strait of Hormuzhaaretz.com
- How Much Gas Prices Have Risen Since The Iran WarZeroHedge
- Iran's Ghalibaf Declares Persian Gulf Oil Flows For 'All Or None'ZeroHedge
Carried over from earlier days
- How a 95 percent drop in Hormuz traffic changed global shippingAl Jazeera
- Tanker Hit in Strait of Hormuz as Trump Declares ‘Mission Accomplished’ in Irangcaptain.com
- Brent, WTI Crude Prices, Aug. 27, 2026energyintel.com
- Crude oil oil futures settles at $83.53InvestingLive
- Oil catch up post: Snaps losing streak as Trump rules out reviving Iran ceasefire termsInvestingLive
- Oil Rises as Iran Deal Hopes Faderigzone.com
- Mideast War: Crude, Products and Gas Price Impacts, Aug. 27, 2026energyintel.com
- Iran war live: Tehran prepares conditions to open Strait of HormuzAl Jazeera
- Trump says Iran is 'in deep trouble' as US maintains blockade of Strait of Hormuzjpost.com
- After 6 months of war, Iran's battered regime remains entrenchednpr.org
- Trump says U.S. now has control over 65 billion barrels of Venezuelan oil reservescbsnews.com
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Monday, August 31 | ||
| Non-Manufacturing PMI | 49.5 | CNY |
| Manufacturing PMI | 49.5 | CNY |
| Tuesday, September 1 | ||
| RatingDog Manufacturing PMI | 51.5 | CNY |
| Manufacturing PMI | CAD | |
| Wednesday, September 2 | ||
| BOC Rate Statement | CAD | |
| Overnight Rate | 2.25% | CAD |
| Crude Oil Inventories | USD | |
| BOC Press Conference | CAD | |