Trump Team Rejects Fuel Export Bans, Vows 'All-Time High' Oil Production as Brent Crosses $108

Oil is trading lower amid multiple catalysts including reports suggesting Saudi Arabia is offering ship-to-ship transfers for sales, that U.S. officials held talks with Houthi rebels in Oman last weekend, and that Saudi Arabia is trying to restore half of its East-West pipeline capacity within days. Also, API and EIA data indicated weekly U.S. crude and distillate inventory growth, further pressuring the oil price.

Oil is trading higher after reports suggesting that Saudi Aramco deferred and cancelled some September crude cargoes meant for European refiners after the closure of its East-West pipeline to the Red Sea. Also, ongoing Saudi strikes on Yemen's Houthi rebels and a tight global diesel market are helping to support crude prices.

S&P 500 Gains, Crude Falls Ahead Of Fed's Expected First Hike Since 2023: Stock Market Today

Crude tumbles 3.6% on a Saudi pipeline restart, easing yields and lifting chips, while the Fed prepares its first rate hike in nearly three years.

'Stickier Inflation' Is Here, Market Strategist Warns After August CPI — 'One-Time Event' Narrative Takes a Hit

Is inflation just a "one-time event"? Ryan Detrick warns of "stickier inflation" ahead as August CPI data shows surging service costs.

BlackRock’s Rick Rieder Turns Cautious on US Stocks, Warns $40 Trillion Debt Is Becoming a ‘Compounding…Problem’

BlackRock’s Rick Rieder warns of a $40T US debt problem, but calls 5% Treasury yields a prime buying opportunity for bond investors.

S&P 500 Has Delivered ‘Muted Returns’ During Fed Cycles With More Than 5 Rate Hikes, Says Ryan Detrick

S&P 500 faces "muted returns" if the Fed executes 5+ rate hikes in a cycle, per Ryan Detrick. See historical data and expert market outlook.