WTI bias flipped 56 times to bullish on July 31, 2026
Crude oil prices are facing mixed signals as China's crude oil imports fell in the second quarter, hinting at softer demand, while industry warnings that refining limits could keep energy prices high point to ongoing supply constraints. At the same time, the U.A.E.'s changes to how it prices its crude and Abu Dhabi's abandoned benchmark bid are reshaping the market's pricing structure. These factors keep the focus on the delicate balance between supply and demand.
Updated
The reading that day
BullishAt the close of the UTC day.
BearishNeutralBullish
It changed 56 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
- 00:00Bullish
- 00:27Neutral
- 01:07Weak bullish
- 02:36Neutral
- 03:36Bullish
- 04:12Bearish
- 04:44Neutral
- 05:20Weak bullish
- 05:44Bullish
- 05:52Neutral
- 06:29Bearish
- 07:05Neutral
- 07:09Bullish
- 07:40Weak bullish
- 07:56Bearish
- 08:12Neutral
- 08:44Bullish
- 09:49Neutral
- 10:05Bearish
- 11:14Bullish
- 11:46Neutral
- 11:58Bullish
- 12:14Weak bullish
- 12:26Bearish
- 12:38Bullish
- 13:06Bearish
- 13:39Bullish
- 14:07Neutral
- 14:15Bullish
- 14:23Neutral
- 14:51Bullish
- 15:15Neutral
- 15:39Bullish
- 15:43Neutral
- 16:14Bullish
- 16:18Bearish
- 16:22Neutral
- 16:26Bullish
- 16:38Weak bearish
- 17:06Bullish
- 17:26Weak bearish
- 17:34Neutral
- 17:58Bullish
- 18:30Neutral
- 18:34Bearish
- 19:02Neutral
- 19:38Bullish
- 20:38Weak bullish
- 20:50Neutral
- 20:58Bullish
- 21:10Weak bullish
- 21:14Neutral
- 21:27Bullish
- 21:35Weak bearish
- 21:55Bullish
- 22:23Neutral
- 22:39Bullish
Headlines (16)
First seen on July 31
- From well to pump: how fuel prices are formedEuropean Central Bank
- Big Oil Is Reaping Rewards From the Chaos in Energy MarketsThe Wall Street Journal
- UK petrol price hits Iran war high, adding to pressure on householdsThe Guardian
- China's crude oil imports fell in the second quartereia.gov
- U.A.E. Changes How It Prices Its Crude Oil GradesThe Wall Street Journal
- Abu Dhabi abandons bid to build global oil benchmarkFinancial Times
- Here’s how Big Oil cashed in on the historic supply crunchMarketWatch
- Oil industry warns refining limits could keep energy prices highpolitico.com
Carried over from earlier days
- Lower crude oil prices reduced U.S.-Canada energy trade value in 2025eia.gov
- Japan turns to Canadian crude as Asia feels Hormuz supply pinchAl Jazeera
- Shell profits double as oil prices rise due to Iran warbbc.co.uk
- Shell reports highest profits since 2022Financial Times
- In the waters off Malaysia, Iranian oil sales continue despite blockadeAl Jazeera
- American Oil Majors Trying to Get Into Venezuela Have Hit a WallThe Wall Street Journal
- Diesel Back in Spotlight as Middle East Conflict EscalatesThe Wall Street Journal
- Saudi forces planning ‘major offensive against Houthis in central Yemen’The Guardian
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Friday, July 31 | ||
| Manufacturing PMI | 50.1 | CNY |
| Non-Manufacturing PMI | 50.0 | CNY |
| GDP m/m | 0.2% | CAD |
| Monday, August 3 | ||
| RatingDog Manufacturing PMI | 51.9 | CNY |
| Bank Holiday | CAD | |
| Tuesday, August 4 | ||
| Trade Balance | 3.0B | CAD |
| Manufacturing PMI | 50.2 | CAD |
| Wednesday, August 5 | ||
| RatingDog Services PMI | 53.7 | CNY |