Houthi Attacks

Oil markets remain supported by elevated Saudi security risks and another weekly decline in US crude inventories. Natural gas is under pressure as mild weather forecasts weigh on heating demand and prices test key support.

WTI crude is holding firm near $95.82, with traders watching whether buyers can force a break above $98.23 and open the door toward $99.23 and $100.14. Natural gas also remains in focus after a 67bcf storage build came in below expectations, while LNG demand and a pipeline outage may limit injections ahead of winter.

WTI and Brent weakened as traders weighed diplomatic headlines, a sharp fall in gasoline futures and talk of a possible U.S. diesel export ban. Hormuz traffic remains deeply constrained, keeping a supply-risk floor under a market still testing key technical levels.

Silver is pressing back toward a pivotal technical midpoint after lower Treasury yields helped restore demand before the CPI release. Oil near $90 and divided Fed expectations keep the inflation debate unresolved, leaving XAG/USD vulnerable to a fast move in either direction.

Oil markets are weighing heightened Strait of Hormuz supply concerns against a surprise U.S. crude inventory build reported by API. WTI and Brent remain technically constructive, while natural gas holds above its breakout area as traders watch resistance near $2.81.

Gold, oil and the USD Index are entering a decisive stretch as technical signals, month-end behavior and Federal Reserve messaging converge. Energy traders are also weighing severe Strait of Hormuz disruption risks against a recent oil pullback tied to a bombing pause and negotiations.