Morning Wrap - Oil price is still elevated (07.03.2026)

Open account Download free app

Oil prices remain elevated due to supply disruptions in the Strait of Hormuz, with WTI trading around $90/bbl and Brent at approximately $84/bbl. Crude attempted to cap its gains, but on the 6th day of the invasion, the rally continues, bringing the total increase since late February to 15%.
Tankers are rerouting or stationary following Iranian attacks on vessels; experts warn of further price spikes should the conflict persist.
War enters day 6: US/Israeli forces are neutralizing Iranian missile launchers and drones (with a 90% drop in attack frequency), while Iran expands its strikes to Azerbaijan and other regional targets.
Death toll in Iran exceeds 1,200 following 1,300 air strikes; tensions are mounting as Trump signals that operations will continue for weeks, hinting at a potential follow-up strike after the selection of a new Supreme Leader.
Qatar LNG indicates plans to lease its global fleet of carriers following the recent shutdown of domestic production. China remains hopeful that Iran will soon grant passage to LNG vessels, as Beijing is the region's largest buyer, sourcing from Iran, Qatar, and Saudi Arabia alike.
The decision to lease vessels after the Ras Laffan shutdown suggests preparations for a prolonged disruption, potentially lasting weeks or months.
To alleviate pressure on the oil market, the United States has granted India a 30-day waiver on additional crude oil import tariffs.
Currently, tankers owned by China or Iran are reportedly allowed passage through the strait, though this may be limited to isolated units.
Trump indicates that Iran has reached out regarding a ceasefire, though he maintains that the window for negotiations is several weeks away. This coming weekend will be pivotal; should credible reports of talks emerge, oil prices could retreat by 5-10%. Otherwise, a further upside gap is likely.
Gold returns above $5,100 per ounce following reports of significant Chinese buying, though it remains relatively low after the sharp declines seen on March 3.
US indices erased most of the March 4 rebound yesterday, but a fresh attempt at a recovery is underway today. The US500 is up 0.3%, with the US100 gaining nearly 0.5%.
Asian equities are posting marginal gains after an earlier slump; markets in Israel and Saudi Arabia are also up, while exchanges in the UAE and Qatar remain closed.
Despite the intraday recovery, Asian indices are on track to end the week with their worst performance since March 2020.
Today’s calendar features the pivotal NFP report. Sentiment remains resilient following recent ADP data, yet expectations for US rate cuts are receding due to the surge in energy prices.

5 March 2026, 12:04 PM

Market wrap: Indices try to maintain rebound despite rising oil price🗽Broadcom shares surge

5 March 2026, 11:16 AM

Chart of the day: EURUSD fights to defend key support before ECB minutes 💶 🇪🇺 (05.03.2026)

5 March 2026, 7:06 AM

BREAKING: US500 gains amid military officials remarks on Strait of Hormuz

5 March 2026, 6:59 AM

Morning wrap (05.03.2026)

Forex
Commodities
Indices

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days