Crude snapped the soft multi-session stretch: Brent November settled ~$103.08 (+$3.83 / ~+3.9%) and WTI ~$92.16 (+$1.64 / ~+1.8%) on Wednesday, reclaiming the psychological $100 handle on Brent. Early Thursday Asia trade eased a touch (Brent ~$102.1–102.3 / WTI ~$91.5–92) but prices held well above last week’s slide lows.
Catalyst mix: Iranian President Pezeshkian’s defiant UN remarks (conditions before talks; “never surrender” tone) kept MidEast risk premium alive, alongside still-fragile Hormuz/diplomacy narratives and waiting on further Saudi East-West pipeline flow restoration. Separately, US Treasury’s Bessent cited very high daily Hormuz transit figures in TV remarks — reinforcing how sensitive energy is to any reopen/close headline.
Scalper read: distinct from Wednesday morning’s “6-session slide / East-West restart” setup and from the EIA inventory print. This is the rebound-to-$100+ + Thursday digestion. Watch energy (XLE / crude-correlated names) vs the inflation→yields channel that already hit Nasdaq Wednesday.
Sources (paraphrase): Wed crude settlement wraps; Thu Asia oil openers; Pezeshkian UN coverage.
Fading the oil spike into claims/DRI, or treating sub-$100 Brent as the only fade zone?
Oil rebound: Brent settled ~$103 (+~4%) / WTI ~$92 — Pezeshkian UN defiant; Thu ease
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LondonNewsTrader
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