WTI bias flipped 8 times to neutral on August 1, 2026
China's crude imports fell in Q2, signaling softer demand from a major consumer, while refining limits could keep energy prices high. Meanwhile, OPEC+ may continue raising output quotas, but the market expects this to do little to lower prices, with geopolitical and supply chain factors also in play. These mixed signals leave WTI crude reacting to both demand weakness and persistent supply constraints.
Updated
The reading that day
NeutralAt the close of the UTC day.
BearishNeutralBullish
It changed 8 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
- 00:06Neutral
- 00:18Bullish
- 01:14Neutral
- 13:48Weak bullish
- 14:44Bullish
- 16:45Neutral
- 21:37Bullish
- 23:01Neutral
Headlines (11)
First seen on August 1
- Petrol prices on track to top $2 a litre as Bowen sounds death knell for fuel excise reliefThe Guardian
- OPEC+ may keep lifting its oil output quotas as the Iran war broadens. Why that won’t help lower prices.MarketWatch
- Turkiye and Iraq sign one-year oil pipeline deal amid global shiftAl Jazeera
Carried over from earlier days
- 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
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| 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 |
| Crude Oil Inventories | USD | |
| Friday, August 7 | ||
| Employment Change | 15.0K | CAD |
| Unemployment Rate | 6.5% | CAD |