UKOIL-F Analysis

TradingKey - During Monday's Asian trading session, international oil prices pulled back significantly from near six-month highs. Brent crude (UKOIL) futures fell 2.02% to $109.45 per barrel, while U.S. WTI crude (USOIL) futures dropped 2.32% to $101.05 per barrel.

TradingKey - On October 23, international oil prices extended their gains as Brent crude (UKOIL) futures rose to $115 per barrel in intraday trading, hitting a five-month high. The ongoing deterioration of the security situation in the Middle East has led the market to reassess potential disruptions to crude oil production, transportation, and exports, driving up the supply risk premium.

TradingKey - On October 21, US Eastern Time, Brent crude oil prices (UKOIL) briefly rose above $110 during intraday trading, while WTI crude oil prices (USOIL) also advanced, gaining about 0.7% intraday. The market focused on shipping security in the Strait of Hormuz, risks to Middle East energy facilities, and the impact of US-Iran diplomatic contacts on crude oil supply expectations.

TradingKey - International oil prices fell noticeably on Monday. Brent crude (UKOIL) futures dropped 1.90% to $107.85 per barrel, while WTI crude (USOIL) futures declined 1.57% to stand at 97.49%.

TradingKey - Tensions in the Middle East remain high, putting global energy supplies to the test once again. However, Trump subsequently announced positive progress in a phone call with Russian President Vladimir Putin, stating that Russia will supply additional diesel to the U.S. and global markets, which narrowed the gains in energy markets.

TradingKey - International oil prices fell for a fourth consecutive trading day on Monday, marking their longest losing streak since June. Although the Iran-backed Houthis launched renewed attacks on Saudi targets, a rebound in Saudi crude exports, coupled with market hopes for a diplomatic breakthrough between the U.S. and Iran, temporarily outweighed supply concerns stemming from geopolitical conflict.

TradingKey - International oil prices have continued to decline following the Federal Reserve's resumption of rate hikes in September. This price adjustment is not driven by a single factor. Hawkish signals from the Fed, a strengthening US dollar, rising US refined product inventories, and Saudi Arabia seeking alternative export channels have collectively dampened previous market concerns over a further widening supply deficit.

TradingKey - Middle East supply risks continue to escalate, keeping international oil prices volatile at elevated levels. During Tuesday's Asian trading session, Brent crude futures (UKOIL-F) rose to near $107 per barrel, while WTI crude futures (USOIL-F) climbed to around $103. On Monday, Brent crude briefly approached $110 before giving back some gains on reports that the US and Iran might resume contacts. However, a key oil pipeline in Saudi Arabia has yet to resume operations, continuing to provide downside support for oil prices.

TradingKey - On September 9, Brent crude futures broke above $100 per barrel intraday, crossing the threshold for the first time since July 24. As the military conflict between the U.S. and Iran continues to escalate, market concerns over potential severe disruptions to Persian Gulf crude exports and shipping through the Strait of Hormuz have driven a rapid rise in oil risk premiums.

TradingKey - International oil prices continued to rise on Monday, extending the strong performance from the previous week.