03/06/2026 Daily Reports
Oil extends gains as Middle East hostilities flare and talks stall
- The energy market is heating up as Brent crude climbs toward $97 and WTI crosses $94. A mix of geopolitical friction and shrinking global supplies is creating a perfect storm for oil prices.
- Geopolitical Flare-ups: Iran launched ballistic missiles toward Kuwait and Bahrain. While they missed their targets, the U.S. military responded with strikes on Iran’s Qeshm Island, keeping the risk premium high.
- Strait of Hormuz Deadlock: The vital maritime chokepoint remains heavily mined by Iran. While a few vessels are risking the journey, total transits are still significantly below pre-conflict levels.
- Stalled Diplomatic Talks: Negotiations between the U.S. and Iran have hit a standstill, erasing hopes for a quick diplomatic resolution.
- Critical Inventory Lows: The International Energy Agency (IEA) warns that global oil stocks could hit critically low levels just as we enter the peak summer demand period. In the U.S., crude inventories fell for a 7th straight week (down by 6.8 million barrels).
Account Opening
Open A Live Account
CDO has wide range of tools, professional and friendly support for clients to achieve their financial markets trading goals. Open a live account now to enjoy this experience with virtual deposit.
Forex Mobile & Desktop App
CDO TRADER
CDO TRADER, our cutting-edge trading platform, follows the technology from the forefront with new features added continuously. Moreover, CDO TRADER is now available for Android and iOS! So it allows you to trade on the go!
