Daily Oil Fundamentals
Escalation and Inflation
02 Sep 2026Escalation and Inflation
No one knows what the endgame will look like, probably not even the man himself, but he is doing no favours for himself, his party, US voters, or the global economy. Oil prices continued their upward journey. The economic warfare against Iran is now coupled with renewed US military attacks on Iranian targets and vice versa after two tankers came under fire on Monday. Details of the latest round of confrontations are sadly irrelevant; oil prices tell the story. Fears of intensifying supply disruptions are rising, particularly in the middle of the barrel, as the CME Heating Oil contract jumped by more than $11/bbl equivalent and its premium to WTI shot back above $100/bbl.
