WTI slips below $90.50 to around $90.40 in Asian trade Tuesday despite rising Middle East supply risks. Jazan damage limited; Iran–Oman Hormuz pact nearing; Hormuz is not reopened.
WTI trades around $91.15 on Monday — its highest since July 24 — as Middle East supply risks stay elevated after weekend US–Iran attacks. Hormuz is not reopened; OPEC+ held October policy.
Saudi Aramco’s Jizan oil facilities were hit on Monday, the Financial Times reported citing sources. WTI surged back above $90 to about $90.40 (+1.27%). Hormuz is not reopened.
Iraq is hiring multiple tankers via state-run Iraqi Oil Tankers Co. to transit the Strait of Hormuz, a cabinet-approved step confirmed by a government spokesman.
Laden Qatari LNG tanker Al Marrouna is nearing the Strait of Hormuz Monday after loading in Qatar early last month, with Port Qasim listed as a potential Thursday arrival. It is unclear if it continues through; Hormuz is not reopened.
Iraq is struggling to sell Basra crude after SOMO cut discounts by $9–$10/bbl versus August. Basrah Medium for September was offered at $15–$18 below the benchmark. Hormuz is not reopened.
Kuwait is exporting about 1 million barrels of crude a day, including STS outside Hormuz, as flows recover — almost two-thirds of last year’s 1.6 million b/d average. Hormuz is not reopened; Vitol and Macquarie Hormuz-flow stamps stay separate.
German industrial production fell 1.1% m/m sa/ca in July, Destatis said, missing a +0.1% consensus forecast. June was revised to 0.0% from provisional +0.2%. Autos fell 9.2% on a VDA multi-week pause.
Germany’s calendar and seasonally adjusted July 2026 trade surplus was 21.3 billion euros, Destatis said, after June’s 15.4 billion. Imports fell 5.7% m/m; exports fell 0.8%.
WTI hovers around $90.00 in Asian hours Monday on weekend US–Iran escalation. A separate Sunday OPEC+ October-hold page quotes WTI at $92.57.
WTI turns near $89.50 in European trade Monday (chart ~$89.74, intraday high $91.09) despite Hormuz supply risks. OPEC+ held October policy; Hormuz is not reopened.
At least eight Chinese financial institutions are seeking $53.6 billion in fresh capital, with the Ministry of Finance providing more than 80% of the funding, Bloomberg reported via desk. The page headline says $54 billion; the body stamp is $53.6 billion.