Oil extends drop to $3 and it’s not clear what’s driving it

2026年8月13日最近のFX関連情報Commodities

Any time there is a sudden move in the oil market, the collective reaction of traders is to say: Something is happening in the Middle East that we don't know about.

In terms of what is reported, Houthie rebels hit a ship today and killed six sailors while the US struck the engine room of a ship on the way to Iran yesterday with Hellfire missiles. Iran was onthe wires a short time ago saying it controls the Strait of Hormuz and Trump was out with all kinds of rhetoric this week saying the US controls it.

So there's no good news there and all the public data continues to show shipping in the region is way down. 

So where does the $3 per barrel drop come from? It's a mystery but it's reverberating into other markets with US yields down 7-8 bps across the curve and the S&P 500 hitting an intraday record (up 0.8% today).

This article was written by Adam Button at investinglive.com.

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