WTI bias flipped 72 times to neutral on August 7, 2026
Oil prices have swung sharply as geopolitical tensions around the Strait of Hormuz dominate trading. Reports of a potential breakthrough initially pressured prices, while subsequent news of Iran's restrictive draft plan for the strait triggered a rebound. WTI has climbed back above a key technical level as markets assess the risk of prolonged disruption to the crucial shipping route.
Updated
The reading that day
NeutralAt the close of the UTC day.
BearishNeutralBullish
It changed 72 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
- 00:15Bearish
- 00:27Neutral
- 00:47Bearish
- 00:55Bullish
- 01:07Neutral
- 01:51Bullish
- 03:04Neutral
- 04:20Bullish
- 05:16Neutral
- 05:48Weak bullish
- 06:00Weak bearish
- 06:04Bearish
- 06:36Bullish
- 06:52Weak bearish
- 06:56Neutral
- 07:00Bearish
- 07:04Bullish
- 08:04Neutral
- 08:21Bearish
- 08:25Bullish
- 08:29Neutral
- 08:41Bullish
- 08:49Weak bullish
- 10:17Neutral
- 10:25Bullish
- 10:45Bearish
- 11:01Neutral
- 11:13Bullish
- 11:21Weak bearish
- 11:29Bearish
- 11:33Bullish
- 11:37Bearish
- 11:49Weak bearish
- 11:53Neutral
- 11:57Bullish
- 12:13Neutral
- 12:37Bullish
- 12:49Neutral
- 13:34Bullish
- 13:50Neutral
- 14:18Bearish
- 14:22Neutral
- 14:34Bearish
- 14:38Neutral
- 15:06Bearish
- 15:22Neutral
- 15:46Bearish
- 15:58Bullish
- 16:18Neutral
- 16:58Bullish
- 17:02Weak bullish
- 17:06Neutral
- 17:38Bullish
- 17:54Bearish
- 18:23Neutral
- 18:51Bearish
- 18:55Neutral
- 19:03Bearish
- 19:19Weak bearish
- 19:27Bearish
- 19:31Bullish
- 19:47Weak bearish
- 19:59Bearish
- 20:03Bullish
- 20:11Neutral
- 20:19Bullish
- 20:23Bearish
- 20:55Neutral
- 20:59Bullish
- 21:03Neutral
- 22:15Bullish
- 23:07Neutral
Headlines (13)
First seen on August 7
- Oil extends sharp gains as Iran seeks to ban U.S., Israeli ships from HormuzInvesting.com
- WTI Price Forecast: Growing internal war risks in Middle East support recovery to near $78FXStreet
- Oil Prices Tumble as Traders Price In a Strait of Hormuz BreakthroughOilPrice.com
- Oil shouts, payrolls whispers - Options Brief - 7 August 2026home.saxo
- The Straits Are Not OKforeignpolicy.com
- Saudi Bab al-Mandeb Flows Sink, Hormuz Goes Darkenergyintel.com
Carried over from earlier days
- Oil Extends Losses on Hormuz Talksrigzone.com
- Oil: Distillate exports tighten market – INGFXStreet
- Will the US-Iran war and Hormuz deadlock last for months?Al Jazeera
- Gulf Shipping Grinds to a Halt Following Houthi Missile ClaimOilPrice.com
- Oil prices have climbed back above a key technical level — live coverageMarketWatch
- Oman-Iran plan blocks US, Israeli ships as Hormuz risks riseFXStreet
- Oil prices jump after Iran publishes restrictive draft plan for Strait of HormuzCNBC
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Friday, August 7 | ||
| USD-Denominated Trade Balance | 108.6B | CNY |
| Trade Balance | 735B | CNY |
| Unemployment Rate | 6.5% | CAD |
| Employment Change | 17.8K | CAD |
| Ivey PMI | 55.4 | CAD |
| Annual Budget Release | CAD | |
| Sunday, August 9 | ||
| PPI y/y | 3.9% | CNY |
| CPI y/y | 0.8% | CNY |