Fed Reaffirms 2% Inflation Goal, Vows Forceful Action to Anchor Price Expectations 
Ukraine Secures U.S. Patriot Missile Production Deal, Zelenskiy Says 
North Korea Expands Nuclear Forces as Kim Jong Un Pushes Military Modernization 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
Trump Swings From Criticism to Praise at NATO Summit, Easing Alliance Tensions 
Lindsey Graham Urges China to Pressure Russia Into Ukraine Peace Talks 
Gordie Howe Bridge to Open July 27 After U.S.-Canada Reach Toll Revenue Agreement 
Asian Stocks Rise as AI Chip Rally Offsets Middle East Tensions 
DOJ Subpoenas New York Times Journalists Over Air Force One Leak Report 
Gold Prices Set for Weekly Loss as Iran Tensions and Fed Rate Outlook Weigh 
Japan Producer Inflation Hits 7.1% in June, Fueling BOJ Rate Hike Expectations 
US Stock Futures Slide as Iran Conflict Escalates Ahead of Key Q2 Earnings Week 
European Regulators Clash With U.S. Treasury Over Private Credit Transparency 
Japan Eyes Bigger GPIF Investment in Domestic Assets as BOJ Independence Concerns Grow 
ASEAN to Hold Landmark Myanmar Talks as Bloc Seeks Progress on Civil War 
The conflict between the United States and Iran intensified over the weekend as both sides exchanged heavy missile and drone attacks, raising fears of a prolonged regional crisis and renewed disruption to global energy supplies through the Strait of Hormuz.
Iran launched strikes targeting U.S. military facilities across several Gulf states, including Qatar and the United Arab Emirates, while also claiming it had once again closed the Strait of Hormuz, a vital shipping route that handles roughly one-fifth of the world's oil and liquefied natural gas exports. The latest escalation has cast serious doubt on the interim U.S.-Iran agreement signed last month, which aimed to reopen the waterway and create a path toward a broader peace deal.
In response, U.S. Central Command confirmed it launched additional military strikes against Iranian targets on Sunday, saying the operations were intended to weaken Iran's ability to threaten commercial shipping. The U.S. military also reported intercepting an Iranian cruise missile and a one-way attack drone. President Donald Trump said the U.S. was gaining the upper hand, telling Reuters, "We're beating them up."
Iranian officials reported explosions near the strategic ports of Bandar Abbas and Sirik, while Tehran accused Washington of undermining diplomatic efforts through pressure on Oman, which had hosted recent negotiations over maritime security.
The escalating conflict has rattled global energy markets. Brent crude climbed above $78 per barrel as investors worried that continued instability could disrupt oil exports and fuel inflation worldwide. Iran has also attempted to tighten control over shipping in the Strait of Hormuz by requiring vessels to obtain authorization before transiting the waterway.
Several Gulf countries reported missile or drone attacks, with Qatar, Bahrain, Jordan, Oman, Kuwait, and the UAE confirming security incidents or defensive interceptions. Maritime authorities warned of severe risks to commercial vessels, although the U.S. insisted shipping lanes remained open through alternative routes.
With military operations expanding and diplomatic efforts stalled, concerns are mounting that the U.S.-Iran conflict could further destabilize the Middle East and keep global oil markets under pressure.
