WTI erases losses and hits fresh three-month highs near $92.70 as Gulf hostilities escalate. Early-June highs at $94.87 remain in sight. Separate Asia tape: Brent near $100 wire split.
Iraq seeks a significant OPEC+ output-quota increase from a 6 million b/d baseline in the capacity audit. Current ceiling 4.431M b/d; IEA sustainable capacity ~4.9M; August pump ~2.98M.
Brent nears $100 in Asia after CENTCOM tanker strikes: Reuters $99.33, CNBC $99.44, BBC $99.35. WTI stamp split — wire mid-$94s vs a separate Asia page near $92.50 — each quoted, not averaged.
Trump orders import bans on Canadian alcohol, dairy and motorbikes from Sep 29 as Ottawa’s counter-tariffs hit. BBC stamps mopeds among full bans; a secondary write-up says motor vehicles. USD/CAD near 1.3780.
CENTCOM destroys five IRGC crude carriers after missile attacks on a U.S. warship. Oil briefly hit $99.46; Iran fired on U.S. forces in Jordan. IRGC destroyer-damage claims remain unverified.
NY Fed August SCE: mean unemployment expectations rise to 44.4%, highest since April 2020. One-year inflation expectations hold at 3.6%; three-year edges to 3.2%; gas price expectations jump to 4.6%.
Treasury OFAC sanctions 36 targets under Operation Economic Outcast, including 27 Iranian airlines under E.O. 13902. Bessent warns anyone doing business with Iran’s remaining carriers risks being cut off from the global financial system.
Qatar posts a Q2 budget deficit of 21.2 billion riyals ($5.8B), the widest in nearly a decade, as Hormuz disruption ties up gas trade. LNG exports plunge; Hormuz is not reopened.
Houthi attacks halt some Saudi energy operations and wound 73; Brent jumps to $98 and U.S. crude to $93.65. Hormuz is not reopened.
Suez Canal traffic gathers pace as Hormuz tensions reroute ships. July stamps 1,340 vessels (+27% YoY) and $505M revenue; SCA FY path $5.8B–$6B. Hormuz is not reopened.
WTI climbs above $92.00 to its highest since July 23 on Hormuz supply concerns. Chart stamps C92.05 / H92.12 (+1.42%); Hormuz is not reopened.
CENTCOM struck three IRGC crude carriers on 5 September after ballistic missiles toward two US Navy ships. Adm. Brad Cooper set the cost message. Reuters stamps Tehran’s counterclaim on Hormuz routes. Iran’s Rezaei flagged a new restricted maritime zone — attributed claims only.