0947 ET - Crude oil futures are sliding as more barrels of oil move through the Strait of Hormuz, although the risk of new military incursions remains strong. "The underlying picture remains fragmented," says Ole Hansen of Saxo Bank in a note. On the one hand, Saudi Arabian crude oil exports picked up in late September, but on the other is the present threat of further U.S. strikes on Middle Eastern infrastructure. "The U.S. decision to send another carrier group towards the region underlines why improving flows have yet to remove the market's risk premium," says Hansen. WTI crude is down 4% to $89.22 a barrel, while Brent crude falls 2.7% to $99.56 a barrel.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.