China Inflation Cools in June as Producer Prices Hit Four-Year High 
Oil Prices Slip but Stay on Track for Weekly Gains as U.S.-Iran Conflict Persists 
Dollar Ends Week Higher as Yen Jumps on Japan Pension Fund Investment Plans 
Gold Prices Slip as Stronger Dollar, Fed Rate Outlook Weigh on Bullion 
US Stock Futures Steady as US-Iran Tensions and Fed Inflation Concerns Weigh on Markets 
Dollar Slips as Oil Prices Ease, Fed Rate Outlook Remains Uncertain 
Fed Chair Kevin Warsh Launches Task Forces to Overhaul U.S. Monetary Policy Framework 
Bernstein Raises 2026 Nickel Price Forecast as Indonesia Tightens Supply 
Oil Prices Rise as U.S.-Iran Conflict Fuels Strait of Hormuz Supply Fears 
Japan Producer Inflation Hits 7.1% in June, Fueling BOJ Rate Hike Expectations 
Gold Prices Set for Weekly Loss as Iran Tensions and Fed Rate Outlook Weigh 
Fed Reaffirms 2% Inflation Goal, Vows Forceful Action to Anchor Price Expectations 
Gold Price Climbs Over 1% as Dollar Weakens, Fed Rate Debate and Iran Tensions Remain in Focus 
Gordie Howe Bridge to Open July 27 After U.S.-Canada Reach Toll Revenue Agreement 
Venezuela Earthquake Death Toll Climbs to 3,811 as Government Seeks Sanctions Relief 
European Regulators Clash With U.S. Treasury Over Private Credit Transparency 
Wall Street Rises as SK Hynix’s Record Nasdaq Debut Steals Spotlight Ahead of U.S. CPI Data 
Oil prices soared Friday as escalating military tensions between Israel and Iran sparked fears of supply disruptions from the Middle East. Brent crude surged 7.02% to settle at $74.23 per barrel, after briefly hitting $78.50—its highest since January 27. U.S. West Texas Intermediate (WTI) crude climbed 7.62% to $72.98, peaking intraday at $77.62. Both benchmarks posted their largest one-day gains since Russia invaded Ukraine in 2022.
The spike follows Israel’s announcement of strikes on Iran’s nuclear sites and missile facilities in a bid to halt Tehran’s atomic ambitions. Iran vowed retaliation and later fired missiles into Tel Aviv, according to reports. The clashes have intensified investor concerns over oil flows through the Strait of Hormuz, a strategic waterway through which nearly 20 million barrels of oil and fuel—about one-fifth of global consumption—pass daily.
Analysts warned that any further escalation targeting energy infrastructure could trigger a tit-for-tat cycle. Iran’s Kharg Island, the hub for 90% of its crude exports, remains untouched, but experts caution this may change. Iran produces about 3.3 million barrels per day, exporting over 2 million. OPEC’s spare capacity is estimated to match Iran’s output, offering some buffer against potential supply shocks.
Despite the unrest, Iranian oil refining and storage facilities remain operational, according to state officials. Meanwhile, the number of active U.S. oil rigs fell to 439—the lowest since October 2021—continuing a seven-week decline, as per Baker Hughes data.
Market reactions extended beyond oil. Equities fell, while gold, the U.S. dollar, and the Swiss franc gained on safe-haven demand. Hedge funds also increased long positions in U.S. crude, CFTC data showed, signaling bullish sentiment amid geopolitical uncertainty.
