Crude surged on renewed geopolitical risk as US revokes Iran export licence following vessel attacks

08 Jul 2026 Global crude benchmarks surged by approximately 3% as a sudden escalation in Middle Eastern military hostilities and stricter US sanctions abruptly revived the market's war-risk premium.

08 Jul 2026

Commodity Exchange: 08 July 2026

Most actively traded petrochemical futures on the Dalian and Zhengzhou Commodity Exchanges wrapped up the 08 July 2026 session with the following settlements.

07 Jul 2026 Brent NYMEX

Crude retreated to pre-war floor as Gulf output ramps and Saudi price-slashing intensifies

Global crude benchmarks retreated to levels unseen since late February, as a confluence of surging regional production and aggressive Saudi discounting signaled the end of the war-risk premium.

07 Jul 2026

Commodity Exchange: 07 July 2026

Most actively traded petrochemical futures on the Dalian and Zhengzhou Commodity Exchanges wrapped up the 07 July 2026 session with the following settlements.

06 Jul 2026

Commodity Exchange: 06 July 2026

Most actively traded petrochemical futures on the Dalian and Zhengzhou Commodity Exchanges wrapped up the 06 July 2026 session with the following settlements.

06 Jul 2026 Brent NYMEX

Brent flatlined near $72 as Gulf supply glut and structural contango heavily discount Asian petrochemical feedstocks

Brent crude paused amidst holiday trading, though a 3.3-million-bpd OPEC production surge and Saudi Aramco's pivot to Asian spot pricing flipped the market into contango, signalling deep incoming cost compressions for downstream polymer feedstocks.

03 Jul 2026

Short-covering lifts oil as market pivots from disruption fears to supply outlook

Despite the modest gains, both benchmarks remained near levels seen before the recent Middle East conflict, reflecting a market that has largely unwound the geopolitical risk premium built up during the height of regional tensions.

03 Jul 2026

Commodity Exchange: 03 July 2026

Most actively traded petrochemical futures on the Dalian and Zhengzhou Commodity Exchanges wrapped up the 03 July 2026 session with the following settlements.

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