{"id":436179,"date":"2026-08-13T22:00:28","date_gmt":"2026-08-13T15:00:28","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/oil-extends-drop-to-3-and-its-not-clear-whats-driving-it-436179\/"},"modified":"2026-08-13T22:00:28","modified_gmt":"2026-08-13T15:00:28","slug":"oil-extends-drop-to-3-and-its-not-clear-whats-driving-it","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/oil-extends-drop-to-3-and-its-not-clear-whats-driving-it-436179\/","title":{"rendered":"Oil extends drop to $3 and it&#8217;s not clear what&#8217;s driving it"},"content":{"rendered":"<div>\n<p>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&#8217;t know about.<\/p>\n<p>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.<\/p>\n<p>So there&#8217;s no good news there and all the public data continues to show shipping in the region is way down.\u00a0<\/p>\n<p>So where does the $3 per barrel drop come from? It&#8217;s a mystery but it&#8217;s reverberating into other markets with US yields down 7-8 bps across the curve and the S&amp;P 500 hitting an intraday record (up 0.8% today).<\/p>\n<p>                            This article was written by Adam Button at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>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&#8217;t know about. In&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-436179","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/436179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=436179"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/436179\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=436179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=436179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=436179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}