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EMEA Oil Update: Crude Oil Surges 4% as Strait of Hormuz Standoff Intensifies

Oil prices gained more than 4% on Monday as escalating military hostilities between the US and Iran ignited fears of prolonged supply disruptions.Brent crude futures rose over 4% to $79.21 per barrel, while Murban crude futures gained 4.2% to $74.07/bbl."Further escalation in the Persian Gulf has oil prices moving higher amid renewed concerns over flows through the Strait of Hormuz," ING analysts said.US Central Command reportedly said that forces completed another massive wave of precision strikes on Sunday, hitting dozens of targets across multiple locations in Iran.In response, Iran's Islamic Revolutionary Guard Corps reportedly said Monday it had launched retaliatory attacks against US military bases in Kuwait and Bahrain, deepening fears that the conflict could expand to target neighboring countries and critical regional energy infrastructure.Iran has said that the Strait of Hormuz is officially shut until further notice. While the US pushed back directly, asserting it will actively ensure the freedom of international navigation, SEB analysts noted reality sharply contradicts Washington's public optimism.The sudden escalation has already slowed commercial vessels transiting the narrow waterway.Multiple media outlets reported that US officials are demanding Iran issue a public statement declaring the Strait of Hormuz open to safe transit.According to RBC Capital Markets strategists, global energy markets must now brace for a prolonged period of high volatility as the unfolding hostilities threaten to completely dismantle the fragile recovery in commercial vessel traffic.ING analysts noted that a large share of market participants are choosing to remain on the sidelines until clear physical traffic patterns emerge.Meanwhile, OPEC on Monday lowered its global oil demand growth forecasts for the third straight month for 2026, projecting demand to grow by 800,000 barrels per day year-on-year in 2026.

Mining & Metals27d ago

AtkinsRealis Strengthens Board Capabilities in AI, New Tech, With New Appointments

AtkinsRealis Group (ATRL.TO) is appointing Amy Bunszel and William Ruh to its board effective Monday to strengthen capabilities in artificial intelligence and digital transformation,Bunszel is executive vice president of software company Autodesk's architecture, engineering and construction business. Ruh previously served as chief executive of Lendlease Digital, where he developed AI-enabled platforms for the built environment. He is currently CEO of Lifestyle Solutions Real Estate, a real estate and investment management firm, and board member at Magna International (MG.TO).

$ATRL.TO

Sectors27d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Monday

Consumer stocks were mixed premarket Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) advancing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) retreating 0.5%.Nio (NIO) shares were up more than 1% pre-bell after Goldman Sachs upgraded the company to buy from neutral and lifted its price target to $7 from $6.60.MGM Resorts International (MGM) stock was 2.5% higher after a nearly 1% gain at the prior close. The Wall Street Journal reported late Friday that the company is evaluating a takeover proposal from billionaire investor Barry Diller after the company's board formed a special committee and hired advisers to review the offer.Papa John's International (PZZA) shares declined by 1.9% after BofA Securities downgraded the company to underperform from neutral.

$MGM$NIO$PZZA$XLP$XLY

Mining & Metals27d ago

Integral Metals Plans to Conduct 2026 Drill Program at the KAP Project, Northwest Territories

Integral Metals (INTG.CN) plans to conduct a diamond drilling program at its KAP Project, in the Mackenzie Mountains of the Northwest Territories, it said Monday.The drill program at the project, interpreted as a Mississippi Valley-type and carbonate replacement deposit system, will further evaluate the potential for zinc-gallium-germanium mineralization at the Project, the company said."The KAP Project remains a compelling critical minerals opportunity, with zinc mineralization associated with gallium and germanium, two metals important to advanced technologies and supply-chain security," said Chief Executive Officer Paul Sparkes. "Following last year's program and a recent technical review, we believe the next step is to advance KAP through additional drilling focused on improving our understanding of mineralized continuity, geometry, and scale."

$INTG.CN

Sectors27d ago

Sector Update: Tech Stocks Lower Pre-Bell Monday

Technology stocks were lower pre-bell Monday, with the State Street Technology Select Sector SPDR ETF (XLK) retreating by 0.01% and the State Street SPDR S&P Semiconductor ETF (XSD) 2.4% lower.Intel (INTC) shares were down more than 3% in premarket activity after the company said it is investing 5 billion euros ($5.71 billion) at its Leixlip campus in Ireland to scale capacity to deliver Intel Xeon 6 and next-gen Intel Xeon built on its Intel 3 node.Micron Technology (MU) fell 5% premarket as South Korean memory-chip maker SK Hynix's Asian-listed shares dropped.WeRide (WRD) stock retreated 1% as the company began on-road testing of its L2++ intelligent driving system in Germany, France, Japan and other international markets.

$INTC$MU$WRD$XLK$XSD

Mining & Metals27d ago

Northstar Gold Receives C$627,663 Repayment Under Surgical Mining Project

Northstar Gold (NSG.CN) received receipt of an initial C$627,663 Digital co-investment reimbursement under the Surgical Mining for Critical Minerals project, it said in a statement on Monday.The Surgical Mining for Critical Minerals project is a collaborative initiative involving Novamera Inc., Micon International, and Digital, Canada's Global Innovation Cluster for digital technologies, it said. The reimbursement is Northstar's first cash payment under the consortium's project agreement and reflects project expenses incurred at the company's Cam Copper Zone 2 Surgical Mining initiative at the Miller Copper-Gold property located near Kirkland Lake, Ontario, the company said.The payment was generated from about C$2.14 million in approved eligible project expenditures, resulting in a Digital co-investment contribution of C$750,524. Northstar remains eligible to receive about C$1.2 million in additional Digital co-investment funding, subject to completion of approved project activities, eligible expenditures and customary claim approvals under the MPA, it said.The company expects additional reimbursements periodically over the balance of the about two-year Surgical Mining for Critical Minerals project.

$NSG.CN

Equities27d ago

OPEC: UAE's Monthly Crude Oil Production Up in June

The United Arab Emirates' crude oil production amounted to 3.8 million barrels per day in June, based on direct communication from the country, according to the Organisation of the Petroleum Exporting Countries, or OPEC.The amount marks an increase from the 2.1 million barrels per day of crude reported by the UAE in May, OPEC said in its latest Monthly Oil Market Report published Monday. The country previously announced its decision to leave OPEC, effective May 1.Meanwhile, Saudi Arabia told the organization that its supply to the oil market stood at 6.6 million barrels of crude per day in June, down from 7 million barrels per day a month before.Based on secondary sources, Russia's declaration of cooperation crude oil production stood at 8.9 million barrels per day in June, OPEC noted.

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Sectors27d ago

Sector Update: Energy

Energy stocks were higher premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 1.3%.The United States Oil Fund (USO) was up 3.4%, while the United States Natural Gas Fund (UNG) was 1.8% lower.Front-month US West Texas Intermediate crude oil was up 3.8% to $74.09 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3.7% to $78.80 per barrel, and natural gas futures were 1.5% lower at $2.90 per 1 million British Thermal Units.Pembina Pipeline (PBA) stock was up more than 1% before market open, reversing the 0.8% fall in the prior session. Wells Fargo upgraded Pembina Pipeline to overweight from underweight and raised its price target to CA$76 from CA$55.

$PBA$UNG$USO$XLE

Sectors27d ago

Natural Gas Falls to Seven-Week Low on Milder Long-Term Forecasts

Natural gas fell to a seven-week low early on Monday on cooling long-term forecasts.Gas for August delivery was last seen down $0.05, or 1.6%, to $2.89 per million British thermal units, the lowest since May 26.The drop comes as long-term forecasts from the National Weather Service expect temperatures in the big markets of the Northeast and Upper Midwest to be seasonal or cooler over its six to 10-day outlook, easing cooling demand.Supply remains robust. In its weekly survey Thursday, the Energy Information Administration said stock of the fuel in the prior week rose by 61 billion cubic feet, above expectations on forecaster NatGasWeather for a rise of up to 54 billion cubic feet. The report said inventories ended the week at 2.98 trillion cubic feet, 6.6% above the five-year average.

$NGQ6$UNG

Equities27d ago

Jefferies Adjusts Price Target on Occidental Petroleum to $56 From $58, Maintains Hold Rating

Occidental Petroleum (OXY) has an average rating of overweight and mean price target of $65.87, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$OXY

Sectors27d ago

Sector Update: Financial

Financial stocks were mostly higher pre-bell Monday, with the State Street Financial Select Sector SPDR ETF (XLF) gaining by 0.4%.The Direxion Daily Financial Bull 3X Shares (FAS) rose 1.3%, and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.1% lower.First Hawaiian (FHB) shares traded down 6% in early hours activity, while TriCo Bancshares (TCBK) was up 7% after the companies signed a definitive agreement for First Hawaiian to acquire TriCo in an all-stock transaction.

$FAS$FAZ$FHB$TCBK$XLF

Equities27d ago

SLB OneSubsea Wins EPC Contract for Eni's Baleine Project Offshore Ivory Coast

SLB (SLB) said Monday that its OneSubsea joint venture received a multi-well engineering, procurement, and construction contract from Eni (E) for phase 3 of the deepwater Baleine project offshore Ivory Coast.Under the contract, SLB said OneSubsea will deliver complete subsea production systems for 13 wells, including subsea trees, umbilicals, manifolds, flowmeters and control systems, along with installation and commissioning.SLB shares were up 1% in Monday's premarket activity.

$E$SLB

Mining & Metals27d ago

Osiris to Sell Urgakh Naran Project for $200,000

Osiris One Metals (OSM.V) has entered into a definitive agreement to sell the Urgakh Naran project in Mongolia for $200,000.The transaction will not impact Osiris One's ownership of its 20% free-carried interest in the Victory copper-gold project in Mongolia, which is being advanced by Trinity One Metals (TOM.V), Osiris said Saturday.Osiris said it is focused on advancing the Western Range silver-copper project in Western Australia.

$OSM.V$TOM.V

Sectors27d ago

Sector Update: Healthcare

Healthcare stocks were mixed premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) gaining by 0.5% and the iShares Biotechnology ETF (IBB) flat.InMode (INMD) stock was down more than 1% premarket after rising 1.8% at the prior close. The company reported preliminary Q2 revenue of $95.2 million to $95.4 million.

$IBB$INMD$XLV

Sectors27d ago

Market Chatter: Trump Says US Will Be Guardian of Strait of Hormuz

President Donald Trump said Monday on Fox News that the US is going to "hit" Iran "very hard" and will likely run the Strait of Hormuz as its guardian.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Sectors27d ago

Sector Update: Consumer

$NIO$XLP$XLY

Sectors27d ago

Sector Update: Tech

$INTC$XLK$XSD

Insider Trading27d ago

Iperionx Insider Bought Shares Worth $497,228, According to a Recent SEC Filing

Anastasios Arima, Director, Chief Executive Officer, on July 10, 2026, executed a purchase for 138,720 shares in Iperionx (IPX) for $497,228. Following the Form 4 filing with the SEC, Arima has control over a total of 13,194,078 shares of the company, with 12,455,502 ordinary shares and 738,576 restricted stock units, which are both held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1898601/000186424726000007/xslF345X05/primary_doc.xml

$IPX

Equities27d ago

BMO Capital Adjusts Price Target on Phillips 66 to $220 From $215, Maintains Outperform Rating

Phillips 66 (PSX) has an average rating of overweight and mean price target of $199.47, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$PSX

Treasury27d ago

Canada's Economy Still Faces Challenges Despite Stronger June Labor Data, Rosenberg Says

The Labour Force Survey for June posted weakness in the goods-producing sector and a sharp drop in manufacturing hours, underscoring export weakness and suggesting that the Canadian economy remains vulnerable despite the stronger headline jobs figure, Rosenberg Research said Monday.The goods-producing sector showed employment fell in June in the largest decline since the pandemic period, Rosenberg Research said in a note, adding that declines of this magnitude have tended to occur in official recessions."The Canadian economy is not exactly out of the woods even if the consensus economics narrative is of that opinion," said Rosenberg.The headline gain in the June labor survey masks underlying weakness, according to Rosenberg. Nearly all of the increase came from part-time employment, reversing only part of the steep declines earlier in the year and leaving employment still down 6,300 year-to-date.The jobs data also highlighted a soccer World Cup-related boost, with gains concentrated among younger workers, the self-employed, and accommodation and food services, Rosenberg added. Excluding these temporary effects, employment would have been roughly flat in June.

$CXY

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Oil & Energy27d ago