WTI bias flipped 4 times to neutral on August 29, 2026
WTI crude is being supported by heightened geopolitical risk in the Middle East, as Iran and the US both assert control over the Strait of Hormuz, a key oil transit chokepoint, and Iran threatens to restrict flows. Tensions are also rising over Venezuela, where the US claims control over oil reserves and Venezuela is considering leaving OPEC. These supply concerns are outweighing fading hopes for an Iran deal, contributing to upward pressure on oil prices amid broader war-related impacts on crude and products.
Updated
The reading that day
NeutralAt the close of the UTC day.
BearishNeutralBullish
It changed 4 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
- 00:17Weak bearish
- 01:17Neutral
- 13:28Bullish
- 14:08Neutral
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
- Trump says Iran is 'in deep trouble' as US maintains blockade of Strait of Hormuzjpost.com
- Venezuela mulls possibility of quitting OPEC — BloombergTASS
- 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 | |