Fullgoal CNI Oil&Gas ETF (159148)
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Fullgoal CNI Oil&Gas ETF (159148) News
Bessent: Oil prices to fall to $40 after Iran conflict ends, with bond yields declining accordingly
U.S. Treasury Secretary Bessent predicts that the global oil market will face a severe oversupply once the conflict in Iran ends, potentially driving oil prices down to $40–$50 per barrel and leading to a concurrent decline in bond yields and inflation. He noted that the correlation between current oil prices and interest rates has reached a record high.
BDI hits multi-year high! El Niño risks and ramp-up of the Simandou project drive stronger dry bulk shipping freight rates
① On September 2, the Baltic Dry Index (BDI) stood at 3,331 points, up 5.5% month-on-month to reach its highest level since December 5, 2023; the Baltic Capesize Index (BCI) stood at 5,642 points, up 8.06% month-on-month. ② Some bulk carrier owners stated that freight rates in Q4 are expected to surpass Q3 levels and hit their yearly peak; industry analysts noted that Capesize bulk carriers will remain the most profitable vessel type this year.
Express News | Trump: Ready to strike Iran again; we have full control of the strait
U.S. President Trump met with executives from the U.S. tourism industry at the White House on Wednesday local time, during which he again addressed the issue of Iran. Trump stated, "The Iranian regime is collapsing. A new round of strikes against Iran will not take long to prepare for, and we are ready to launch another strike against Iran in the future. We have full control over the Strait of Hormuz, through which millions of barrels of oil are exported daily. I hope domestic retail gasoline prices will decline."
Bessent: The Strait of Hormuz could be "bypassed" within two years, becoming a "worthless waterway"
U.S. Treasury Secretary Bessent predicted that "in two years, the Strait of Hormuz will become a worthless body of water, with crude oil transportation shifted to overland pipelines." However, analysts pointed out that this forecast underestimates the time and cost required for such a rerouting. Currently, Brent crude oil prices have risen from $72 per barrel before the conflict to $94, while the average price of gasoline in the United States has also surged significantly.
Trump warned that Iran would face more severe strikes if it retaliates; Iran vowed a large-scale counterattack. Following an attack on Iran's key energy hub port, oil prices rose sharply.
Trump stated that the U.S. military is striking Iranian targets near the Strait of Hormuz in retaliation for Iran's alleged attempts to lay mines in the strait and attack U.S. bases in Jordan. He warned that any Iranian counterattack would face "more intense and higher-intensity" strikes, adding that the U.S. is planning a "final blow" that would leave Iran with "little remaining." According to Iranian media, Iran has launched missiles and drones at enemy positions, and the key energy hub of Assaluyeh Port was attacked by U.S. forces. U.S. crude oil prices rose above $90 per barrel for the first time since late July. Markets now estimate a 68% probability of a Federal Reserve rate hike in September.
Express News | U.S. Officials: Trump May Approve Resumption of Strikes Against Iran
According to Axios, three U.S. officials revealed that Trump and his senior aides have been considering launching limited strikes in the Strait of Hormuz to prevent Iran from rebuilding its radar and missile capabilities for attacking vessels. The plan may be approved following exchanges of fire between the two sides over the weekend. Reportedly, the plan was formulated by U.S. Central Command over the past week and has received support from Defense Secretary Hegseth, but it had not yet secured Trump’s approval prior to this weekend’s clashes with Iran. However, he may approve the plan after the latest escalation. One U.S. official stated that the rationale behind the plan is to reduce the risk of Iranian attacks on oil tankers, U.S. Navy warships, and Air Force aircraft. U.S. officials indicated that Central Command is concerned about Iran’s attempts to rebuild its radar, air defense, and anti-ship missile capabilities in the strait to target vessels more precisely.
Tensions in the Strait of Hormuz escalate further: Super tanker suspected of hitting a mine, Trump threatens "severe strike"
Tensions between the U.S. and Iran have escalated again in the Strait of Hormuz, with a supertanker reportedly catching fire after a suspected mine attack, amid mutual strikes by U.S. forces and Iran. Trump stated that the U.S. would retaliate against Iranian attacks on its base in Jordan, continuing to hint at potential "retribution" against Kharg Island. Brent crude briefly surpassed $91 per barrel, while diesel crack spreads approached $100, as market concerns over energy supply disruptions surged sharply. Key focus moving forward will be on the escalation of the conflict and actual crude oil flows through the Strait of Hormuz.
China’s “Big Three” Oil Majors Report H1 2026 Results: Combined Net Profit Exceeds RMB 210 Billion
PetroChina, CNOOC, and Sinopec reported year-on-year net profit growth of 22%, 23.4%, and 19.3%, respectively, for the first half of 2026, and all announced interim dividend plans to reward shareholders.
Trump: U.S. Secures "Majority Control" Over Venezuela's Oil Reserves Exceeding 65 Billion Barrels
① On Friday (U.S. Eastern Time), Trump stated that the United States had reached an oil agreement with Venezuela, securing majority control over the country's proven oil reserves exceeding 65 billion barrels; ② He claimed that this agreement would more than double U.S. oil reserves, helping to lower gasoline prices and strengthen U.S.-Venezuela relations.
Amid tensions in the Middle East, oil tanker freight rates strengthen; COSCO SHIPPING Energy Transportation's H1 non-GAAP net profit surges 1.5-fold | Financial Report Analysis
① In H1, COSCO SHIPPING Energy Transportation reported operating revenue of RMB 15.146 billion, a year-on-year increase of 30.03%; net profit attributable to shareholders excluding non-recurring items reached RMB 4.449 billion, up 150.88% year-on-year. ② Revenue from foreign trade oil transportation in H1 amounted to RMB 10.523 billion, rising 43.9% year-on-year; gross profit from transportation was RMB 4.672 billion, a significant increase of 262.4% year-on-year.
From Public Statements to Private Meetings: Trump to Convene Refiners and Fuel Retailers Next Week, Escalating Oil Price Intervention Ahead of Midterm Elections
The Trump administration’s intervention in gasoline prices continues to escalate: from directing the Department of Justice in June to investigate oil companies for alleged price gouging, to publicly urging Chevron to lower prices in August, and now expected to formally convene meetings with refiners and fuel retailers next week to exert pressure. Analysts believe the White House aims to mitigate the impact of tensions with Iran on consumer living costs before the congressional midterm elections in November.
Targeting Venezuela’s 90-million-barrel oil reserves! U.S. reportedly close to reaching a “large-scale” agreement
According to reports, negotiations between the United States and Venezuela have focused on more than ten oil fields already in production. The core proposal involves granting the United States partial ownership of these fields and allowing U.S. energy companies to participate in subsequent development to further restore output. Last week, the U.S. Deputy Secretary of Energy stated that approximately half of Venezuela’s current crude oil production is flowing to U.S. refineries.
Express News | Report: The White House Refuses to Reinstigate the June Agreement with Iran
The Wall Street Journal, citing sources familiar with the matter, reported that U.S. President Trump's administration has repeatedly told mediators that it has no intention of re-accepting the terms of the memorandum of understanding reached with Iran in June this year.
Reports indicate significant progress in US-Iran ceasefire negotiations, with an alleged consensus reached on ensuring free navigation through the Strait of Hormuz.
According to Russian media, sources in Pakistan and Iran stated that the United States and Iran have reached a consensus on the terms of a ceasefire agreement, which includes ensuring free navigation through the Strait of Hormuz. Both sides are expected to announce related developments in the coming days and initiate negotiations and technical meetings based on the memorandum of understanding previously brokered by Pakistan. Iran’s Deputy Foreign Minister stated that Tehran has informed its negotiating representatives that if the United States wishes to reopen the strait, it must rectify its errors and return to its prior commitments. Iranian media reported that the recent visit of the Pakistani Army Chief to Iran was intended to create space for negotiations and to convey Iran’s conditions and position to the United States.
Express News | Russian media, citing sources, report that the United States and Iran have reached a consensus on the terms of a ceasefire agreement.
Pakistani military and Iranian security sources told Russia's Sputnik news agency that the United States and Iran have reached a consensus on the terms of a ceasefire agreement, which includes provisions for freedom of navigation in the Strait of Hormuz. "A consensus has been reached on the ceasefire agreement, which encompasses a clause guaranteeing freedom of navigation in the Strait of Hormuz," the sources said. They added that both sides are expected to make an official announcement in the coming days. According to the sources, under the Islamabad Memorandum, negotiations and a round of technical meetings will be launched.
Breakthrough in Strait of Hormuz Shipping: Iran and Oman Plan to Establish Temporary Security Corridor
Iran and Oman are discussing a phased framework, with core components including the establishment of a temporary joint shipping corridor and the implementation of joint minesweeping operations. Both sides also plan to establish mechanisms for information sharing, traffic management, and related navigation and safety services. Following the news, international crude oil prices extended their decline, hitting an intraday low not seen in over a week.
Brent crude falls below $90: US plans to return diplomats to Middle East as Pakistan mediates with sanctions relief proposal
A confluence of signals indicating diplomatic de-escalation has emerged, placing significant pressure on the crude oil market. Brent crude fell below $90 per barrel on Tuesday, dropping more than 3%, while WTI crude declined in tandem to around $82.50, marking its lowest level in nearly a week. According to Xinhua News Agency, Pakistan’s Inter-Services Public Relations (ISPR) issued a statement on the 25th stating that Pakistani Army Chief Asim Munir and Interior Minister Mohsin Naqvi had concluded a one-day visit to Iran. The two sides held comprehensive discussions focused on preventing further escalation of tensions, reopening the Strait of Hormuz, and accelerating measures to end the conflict. Additionally, citing a report by Iran’s Tasnim News Agency on the 25th, Xinhua noted that a source close to Iran...
Goldman Sachs Head of Hedge Fund Solutions: Oil Prices More Important Than Jackson Hole Fed Symposium; NVIDIA in Focus This Week
Oil price trends, NVIDIA’s earnings report, and the Federal Reserve’s annual symposium constitute the three major variables for markets this week—but in the view of Goldman Sachs, their weights are not equal. Rich Privorotsky, head of One-Delta hedge fund services at Goldman Sachs, pointed out in a recent client note that for the broader equity market, oil prices are likely to be more significant this week than the Jackson Hole symposium. He highlighted the latest developments in U.S. Treasury sanctions on Iran as a market focus, warning that if sanctions directly target Asian refiners, they could add new trade frictions. Meanwhile, NVIDIA is set to release its earnings report on Wednesday.
The U.S. Treasury Secretary announced a series of economic sanctions targeting Iran, while Tehran stated that its trade partners "would not take seriously" Washington's rhetoric on sanctions.
Bessent stated that any entity involved in money laundering for Iran would be removed from the U.S. dollar system; the United States will expand secondary sanctions against entities and countries maintaining commercial ties with Iran. Trump is contacting foreign leaders to seek support for U.S. economic actions against Iran, without disclosing a deadline for such support, noting that Washington’s patience is not infinite. Sanctions against a major financial institution will be announced this week. In response to U.S. sanctions threats, the Speaker of the Iranian Parliament remarked that no one believes America’s nonsensical rhetoric. An advisor to Iran’s Supreme Leader indicated that Iran’s response to U.S. threats will be more resolute than ever before.
Iran responds to U.S. economic warfare threats: Washington is "doomed to fail"; China states opposition to illegal unilateral sanctions
Iranian parliamentary officials stated that the United States has demonstrated its "inability to speak the language of diplomacy," asserting that the "language of power" will compel the U.S. to lift sanctions against Iran, release Iranian assets, and withdraw from the region. In response to reports of U.S. threats to impose sanctions on Iran, the Chinese Ministry of Foreign Affairs remarked that military measures and coercive sanctions are not conducive to resolving the issue. The President of Iran called for an end to the war but emphasized that negotiations must proceed from a "position of strength." The Commander of the Iranian Navy claimed "complete control" over the Strait of Hormuz and vowed to teach enemies a "historic lesson" at sea. The Omani Foreign Minister held telephone consultations with the Iranian Foreign Minister to discuss shipping in the strait.