Brent: Large monthly drop after Hormuz scare – UOB

FXStreet Insights Team FXStreet

UOB strategists note that Brent crude has just recorded its largest monthly percentage decline since December 2025, despite briefly spiking above USD 126/bbl on renewed Strait of Hormuz concerns. West Texas Intermediate (WTI) remains elevated on the week, and Oil has booked a second consecutive weekly gain, supported by geopolitical tensions and US policy rhetoric.

Prices retreat after sharp geopolitical spike

"Brent crude briefly surged past USD126/bbl handle on early trading session last Thu as stalled US-Iran talks raised doubts over the reopening of the Strait of Hormuz."

"Oil held its second weekly gain as US President Donald Trump said he was sticking with a naval blockade of Iranian ports."

"Brent crude for nearest month delivery settled at USD114/bbl on 30 Apr before several of the developed markets (except US and UK) were away for a Labor Day holiday, down 3.4% viz its previous close."

"In Apr, Brent crude marked the largest one-month percentage decline since Dec 2025."

"WTI crude was near USD106/bbl, up 12% for the week."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD hovers around 1.3450 amid upbeat mood, ahead of ADP

GBP/USD is inching higher above 1.3450 in European trading on Wednesday, helped by reduced haven appeal for the US Dollar as markets cheer a potential US-Iran deal on the Strait of Hormuz reopening. The decision is due later in the day. Traders also look forward to the US ADP and ISM Services PMI data.

EUR/USD keeps range near 1.1550 on Hormuz reopening optimism

EUR/USD holds ground near 1.1550 in the early European hours on Wednesday. The pair stays supported amid hopes for a US-Iran deal on the reopening of the Strait of Hormuz, which lifts risk sentiment and keeps the safe-haven US Dollar on the back foot. The US ADP Employment data and ISM Services PMI report are in the spotlight alongside Mideast headlines.

USD/INR: Indian Rupee sits at monthly highs above 95.00 after RBI's neutral hold

Indian Rupee is hanging close to its highest level in a month just above the 95.00 level against the US Dollar on Wednesday, holding gains after the Reserve Bank of India (RBI) held the Repo Rate at 5.25%, as expected, maintaining a neutral stance amid still-modest inflation.

Top 3 Price Predictions: Bitcoin, Ethereum, Ripple – BTC eyes breakout, ETH consolidates, XRP finds stability

Bitcoin, Ethereum and Ripple move toward the key technical levels on Wednesday, which could determine the next directional bias. BTC is near the 50-day Exponential Moving Average, ETH trades sideways while XRP is showing signs of stabilization.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.