Independent energy research and analysis firm headquartered in Oslo, Norway
U.S. 10-year Treasury yields have climbed above 5%, hitting the highest levels since 2007, and 30-year yields have reached peaks not seen since 2004. Markets have priced greater odds of more Federal Reserve hikes after strong September PMI data, hawkish Fed comments and heavy bond issuance from the government and big tech, raising borrowing costs for mortgages and companies.
Oil prices have fallen after reports that US and Iran are pursuing mediated talks at the United Nations, while Saudi Arabia has been rerouting exports through Oman and the Strait of Hormuz to offset damage to its East–West pipeline. Traders are watching UN negotiations, Gulf shipping flows and US bond-market moves for signs of a wider market shift.
OPEC+ has agreed to increase oil output by 188,000 barrels per day from August, marking the fifth straight monthly rise. While the move signals a cautious unwind of earlier cuts, oil supplies remain constrained by the Strait of Hormuz and ongoing regional tensions. Prices have edged back toward pre-war levels as shipping resumes.
The US and Iran have exchanged fresh strikes this weekend and on Monday, reversing a recent interim ceasefire and re‑opening doubt over control of the Strait of Hormuz. President Donald Trump has declared the ceasefire "over," ordered further strikes and revoked a temporary oil waiver. Oil has jumped into the high $70s–$80s and global markets have fallen.
The United States has escalated economic pressure on Iran with new sanctions, while markets digest the implications for oil supply and global finance. Iran vows resilience as China defends its interests amid the push. Prices wobble but stabilize after early volatility.
Apple has updated Apple Maps to display “Lake America” to U.S. users after President Trump ordered the U.S. geographic names database to rename Lake Ontario. Google had already rolled out the change for U.S. viewers; Canada and many services continue to display Lake Ontario. MapQuest has refused to change and has seen a surge in downloads.
Oil prices have climbed with Brent above $95 and WTI near $93 as fighting in the Middle East continues to disrupt shipping routes. Analysts say supply fears and demand shifts, particularly from China, are shaping the rally. Markets are also awaiting inflation data and policy signals as bond yields rise globally.
OPEC+ has kept October output targets unchanged while it reviews capacity and sets 2027 baselines, amid Iran disruption and discussions on unwinding current cuts. The group plans to pause further increases in Q4 as it evaluates members' capacity and future quotas.
Gas prices have reached Labor Day highs as US-Iran hostilities persist and a Venezuela oil deal faces questions over enforceability and impact on supply. Officials see potential downward pressure as demand cools after summer, but uncertainty remains about how quickly prices will fall.
Saudi Arabia has closed its 1,200km East–West oil pipeline after a drone attack Riyadh has blamed on Iranian-backed militias in Iraq. Repairs could take three to five weeks, analysts say the closure risks 2.6–4 million barrels per day of exports and has pushed Brent above $105–$108 a barrel while Houthi gains in the Red Sea further tighten routes.
The bond market has continued to tighten as yields rise amid stronger‑than‑expected economic data and persistent inflation concerns. Investors are weighing higher borrowing costs against the AI investment cycle, with warnings of possible further selloffs if rates stay elevated.
The Yemeni Houthi rebels have captured Greater and Lesser Hanish islands near Bab al-Mandab, expanding their Red Sea reach. The move intensifies pressure on Saudi exports and global oil supplies as clashes widen and civilians flee. Israel and Iran are not directly involved in this update.
Houthi forces have seized large stretches of Yemen's Red Sea coast and islands, tightened control over the Bab al‑Mandeb shipping lane and have launched missiles, drones and ballistic rounds at Saudi cities including Riyadh and Yanbu. Saudi air defences have said they have intercepted strikes; residents have reported explosions and smoke. The advance has disrupted shipping and pushed global energy markets higher.
JP Morgan has said it cannot forecast the endgame of the US–Iran conflict, noting that its baseline assumptions have been exceeded and implying that oil markets will remain volatile as corridors like the Strait of Hormuz stay disrupted. The note suggests inventories provide a cushion for now, but the outlook remains unsettled for oil, inflation and yields.