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Update: WTI Oil Rises Following Iranian Attacks on Ships in the Strait of Hormuz

(Updates prices in the second paragraph)West Texas Intermediate (WTI) crude oil rose on Tuesday following Iranian attacks on ships moving through the Strait of Hormuz.WTI crude oil for August delivery closed up 2.8% to settle at $70.44 per barrel, while September Brent oil was last seen up 3.1% to $74.25.The rise follows reports that Iran fired on two ships in Omani waters near the Strait of Hormuz. The Wall Street Journal reported that Iran's Revolutionary Guard Corps fired missiles at the vessels, striking an LNG carrier and threatening to reignite fighting that could imperil the ceasefire deal reached last month between the U.S. and Iran.The attacks threaten to keep ships that have been trapped in the Persian Gulf since the Feb. 28 start of the war on Iran from leaving the region. The ceasefire had allowed 27 ships to move through the Strait in the last day, according to hormuzstraitmonitor.com, leaving 340 vessels still waiting to exit the Strait.Still, oil prices have returned to near pre-war levels as ships have moved through the Strait since the June 17 ceasefire agreement between the two countries, easing the largest-ever supply shock and rebuilding depleted inventories in Asian nations that depend on Persian Gulf supply."Oil prices and especially LNG rose after a Qatari LNG ship was struck by a projectile near the Omani coast as it exited the Strait of Hormuz, raising unease among shipowners while once again testing a US-Iran agreement intended to halt attacks and keep the narrow strait open," Saxo Bank wrote.

$CLQ6$LCOU6$USO

Sectors29d ago

Sector Update: Energy

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 2.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 2.9%.The Philadelphia Oil Service Sector Index was climbing 2.6%, and the Dow Jones US Utilities Index rose 1.4%.In geopolitical news, Iran's Revolutionary Guard Corps fired missiles at vessels in the Strait of Hormuz, striking a liquefied natural gas carrier, according to media reports. "Oil prices and especially LNG rose after a Qatari LNG ship was struck by a projectile near the Omani coast as it exited the Strait of Hormuz, raising unease among shipowners while once again testing a US-Iran agreement intended to halt attacks and keep the narrow strait open," Saxo Bank said in a note.Front-month West Texas Intermediate crude oil jumped 5% to $72.00 a barrel, and the global benchmark Brent crude contract climbed 5.1% to $75.69 a barrel. Henry Hub natural gas futures added 0.5% to $3.26 per 1 million BTU.In corporate news, Shell (SHEL) expects Q2 oil-and-gas production volumes will decline due to Persian Gulf hostilities, but profit margins will swell, the energy giant reported Tuesday. Separately, Shell has agreed to sell its Shell Downstream South Africa retail and wholesale fuel business to Abu Dhabi's ADNOC Distribution at an implied enterprise value of $1 billion, ADNOC said Tuesday. Shell shares gained 4.7%.

$SHEL

Sectors29d ago

Sector Update: Consumer

Consumer stocks were mixed late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.8%.In corporate news, Netflix (NFLX) has entered multiple deals with digital publishers, including The Hollywood Reporter, BuzzFeed, Conde Nast, and other Penske Media's PMX brands to bring content from these publishers to the US and other regions like the UK, Ireland, Canada, and New Zealand, media outlets reported. Netflix shares were up 0.5%.

$NFLX

Sectors29d ago

Sector Update: Healthcare

Healthcare stocks were higher late Tuesday afternoon, with the NYSE Healthcare Index rising 1.3% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.4%.The iShares Biotechnology ETF (IBB) climbed 1.2%.In corporate news, Vera Therapeutics' (VERA) Trutakna has been approved to reduce proteinuria in adults with primary immunoglobulin A nephropathy, the US Food and Drug Administration said in a Tuesday statement. Vera Therapeutics shares jumped past 7%.

$VERA

Treasury29d ago

US Treasury Closing Levels

3:00 Tuesday vs 3:00 Monday2yr 99-29 vs 100-00; 4.160% vs 4.123%5yr 99-12 vs 99-19+; 4.255% vs 4.338%10yr 98-24 vs 99-05; 4.529% vs 4.479%30yr 99-09+ vs 100-03; 4.503% vs 4.993%2/10 36.505 bps vs 35.463 bps5/30 78.597 bps vs 77.992 bps

Oil & Energy29d ago

Abu Dhabi Royal-Linked Firm to Invest $1.13 Billion in MidOcean Energy

An Abu Dhabi royal-linked investment firm has committed to invest $1.13 billion in MidOcean Energy, the company said on Tuesday.The transaction also establishes a strategic partnership between the Private Department of Sheikh Mohammed bin Khalid Al Nahyan and EIG, the global energy and infrastructure investment firm that manages MidOcean.The two entities plan to collaborate on capital aggregation, deal origination, and the development of institutional investment opportunities across the UAE and broader regional markets.For MidOcean, the capital infusion strengthens its institutional shareholder base as it continues to build a global LNG platform. The LNG producer, which is also backed by Saudi Aramco, currently holds interests in projects across Canada, Australia, and Latin America.

US Markets29d ago

Foreclosed Home Listings Surge to Six-Year High, Realtor.com Says

US foreclosed home listings climbed to their highest level in six years as properties continued to hit the market following the end of pandemic-era housing protection programs, News Corp's (NWS, NWSA) Realtor.com said Tuesday.Foreclosure listings made up 1.3% of all for-sale homes in April, up from a recent low and approaching the 1.7% share in April 2020, according to a report by the online real estate portal."Foreclosures are normalizing, not accelerating into a crisis," Realtor.com Senior Economist Joel Berner said. "This rise is happening because pandemic-era forbearance and moratorium programs fully wound down in 2024, and the homeowners feeling it most are the ones who bought at peak prices and are now squeezed by rising insurance, taxes, and adjustable-rate payments."Foreclosure is the process by which a lender terminates a homeowner's right to their property after the borrower fails to meet their obligations. The lender takes possession of the property and sells it to recover the outstanding loan balance.The median foreclosed home sold for 27% below its estimated value in April."In a market where affordability is still the dominant challenge, foreclosures offer a path to a meaningful discount," Berner added. "The process takes patience, but for buyers who are prepared and can navigate the challenges of buying this type of home, the savings are real."Foreclosed properties drew 27% more page views in the first half of the year than standard listings, while they spent an average of 11 days longer on the market, Realtor.com said.US home asking prices in June experienced their steepest annual decline since 2017 as sellers increasingly cut prices to attract buyers, Realtor.com data showed last week.Price: $30.65, Change: $+0.63, Percent Change: +2.08%

$NWS$NWSA

Mining & Metals29d ago

WTI Crude Oil Closes Up 2.8%; Settles at $70.44 per Barrel

$CLQ6$LCOU6$USO

US Markets29d ago

Update: Chip Stocks Weigh on Equities Intraday; Oil Rises on Hormuz Tensions

(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday, with chip stocks among notable laggards, while oil prices jumped following reports that Iran hit a Qatari liquefied natural gas tanker near the Strait of Hormuz.The Nasdaq Composite was down 0.7% at 25,946.1 after midday Tuesday, while the S&P 500 shed 0.3% to 7,516.6. The Dow Jones Industrial Average dropped 0.3% to 52,913.7 after having hit a new high in the previous session.Among sectors, industrials saw the steepest decline intraday Tuesday, while energy and real estate paced the gainers.Chipmaker Intel's (INTC) shares were down 9.3%, the second-worst performer on the S&P 500. Western Digital (WDC), Applied Materials (AMAT), Marvell Technology (MRVL), Micron Technology (MU), and Advanced Micro Devices (AMD) also saw sharp declines."Equities are rotating out of technology after Monday's rebound, as an Asian chip selloff revived (artificial intelligence)-valuation worries and pushed (South Korea's) KOSPI down 7.5%," Saxo Bank said in a report.A global tech sell-off on Tuesday followed the release of preliminary quarterly results by Samsung Electronics, as well as a Reuters report on Chinese firm DeepSeek developing its own AI chip that could allow it to rely less on US chipmaking giant Nvidia (NVDA) and Huawei.West Texas Intermediate crude oil was up 2.9% at $70.50 per barrel intraday, while Brent advanced 3.1% to $74.22.Iran attacked a Qatari LNG ship transiting near the Strait of Hormuz, the world's most important chokepoint for crude flows, according to Qatar's foreign ministry spokesperson Majed Al Ansari."We demand that the Islamic Republic of Iran immediately cease all practices that undermine regional security or threaten the safety of international maritime navigation, (and) refrain from endangering global energy supplies (and) the resources of the countries of the region in pursuit of narrow interests," Al Ansari said in a social media post Tuesday.US Treasury yields were higher intraday, with the 10-year rate up 4.2 basis points at 4.52% and the two-year rate rising 2.7 basis points to 4.15%.In economic news, the US trade deficit grew in May to its widest since March 2025, as imports increased and exports fell, government data showed."Surging imports and a rare decline in exports spiked the US trade deficit to its highest level in more than a year," BMO Capital Markets said in a note. "Despite tariffs, the trade deficit has returned to levels of late 2024, before importers began front-loading purchases, suggesting little overall progress in shrinking the trade gap."In company news, SpaceX (SPCX) drew bullish views from Wall Street as the rocket and satellite company joined the Nasdaq 100 index, with analysts pointing to AI, satellite connectivity and space-enabled solutions as key growth drivers.Deutsche Bank, RBC Capital Markets and Morgan Stanley initiated coverage of SpaceX with their highest ratings.The stock was down 5.2% intraday.Gold fell 0.2% to $4,157.30 per troy ounce, while silver lost 1.4% to $61.46 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMAT$AMD$INTC$MRVL$MU$NVDA$SPCX$WDC

Mining & Metals30d ago

Diagnos Announces Warrants Extension

Diagnos (ADK.V) said Tuesday it will amend the expiry date of 6.72-million warrants from August 5, 2026 to June 5, 2027.The warrants were issued as part of a non-brokered private placement of units in February 2025.All other provisions of the warrants, including the exercise price of C$0.40 per share, remain unchanged.Diagnos shares were last seen up C$0.00, to C$0.27 on the TSX Venture Exchange.Price: $0.27, Change: $+0.01, Percent Change: +1.89%

$ADK.V

Oil & Energy30d ago

US Oil Update: Futures Rise as Vessel Attacks in Hormuz Stoke Supply Risks

Crude oil futures advanced on Tuesday after two tankers were struck by projectiles while transiting the Strait of Hormuz, stoking fears of disruptions to shipping through the strategic waterway.Front-month West Texas Intermediate crude futures gained 3% to $70.61 per barrel, while Brent futures climbed 3.2% to $74.26/bbl.Saxo Bank strategists said oil prices rose after a Qatari LNG ship was struck by a projectile near the Omani coast as it exited the Strait of Hormuz, raising unease among shipowners while once again testing the US-Iran peace deal.On Tuesday, two tankers were struck by projectiles in the Strait of Hormuz, the UK Maritime Trade Operations said, the latest attacks targeting vessels transiting the strategic waterway that is central to the US-Iran negotiations.This takes the total tally of vessels attacked in the strait this week to three, as the UKMTO reported that a tanker was also struck on Monday.Iran's Islamic Revolutionary Guard Corps attacked a liquefied natural gas carrier after ignoring warnings while passing through the Omani route, according to Iranian media reports.Qatar's foreign ministry spokesperson, Majed Al Ansari, said the targeting of the Qatari tanker near the Hormuz was an unacceptable attack on the security of international navigation and global energy supplies.Al Ansari called on Tehran to "immediately cease all practices that undermine regional security or threaten the safety of international maritime navigation." A Saudi-flagged crude oil tanker was also reportedly damaged off Oman's coast.Soojin Kim, a research analyst at MUFG, said crude prices edged higher after renewed attacks on commercial vessels in the Strait of Hormuz highlighted persistent security risks.Meanwhile, global crude prices are projected to face renewed downward pressure as crude production rebounds and trade flows via the strategic waterway recover following the US-Iran peace deal to end the Middle East conflict, according to the Energy Information Administration.The EIA in its Short-Term Energy Outlook slashed its Brent spot price forecast for Q3 to an average of $74/bbl, about $27 lower than its previous outlook.The EIA said that the recovery in supply and the restoration of oil trade flows are expected to ease pressure on global inventories.The agency now forecasts global oil inventories to decline by 2.2 million barrels per day in Q3, lower than its previous forecast of over 7 million b/d.Curbing the gains, OPEC+ countries agreed to another modest hike in their oil production quotas for August, adding to prospects of more supply as crude prices fall.The seven countries, led by Saudi Arabia and Russia, agreed to increase quotas by 188,000 barrels per day, on top of similar increases for June and July.

Mining & Metals30d ago

Pacifica Silver Appoints Stephen Redak as Vice President of Exploration

Pacifica Silver (PSIL.CN) said Tuesday it appointed Stephen Redak as vice president of exploration.Steve Weiss, who was the interim vice president of exploration, will continue as a technical advisor, said the company.Redak held the role as exploration manager for Mexico and Nevada at Hecla Mining Company, (HL), the company added."His proven track record in Mexico's Sierra Madre Occidental, deep understanding of epithermal vein systems and operational experience will be instrumental as we accelerate drilling and advance the Claudia Project," said Chief Executive Officer Todd Anthony. "We are also grateful that Dr. Weiss will stay on as technical advisor to ensure a seamless transition and ongoing technical rigor as Pacifica Silver moves forward with its aggressive exploration plans."Shares of the company were last seen up C$0.01, or 0.8%, to C$1.30 on the Canadian Securities Exchange.Price: $1.30, Change: $+0.01, Percent Change: +0.78%

$PSIL.CN

Oil & Energy30d ago

Global Oil Production, Trade to Return Near Pre-Conflict Levels by End-2026, EIA Says

The US Energy Information Administration expects global crude oil production and trade to return to near pre-conflict levels by the end of 2026, earlier than it projected last month, according to its monthly Short-Term Energy Outlook for July on Tuesday.The agency expects most Middle East crude production and trade to recover by year-end, with 1.4 million barrels per day still shut-in during Q4 2026 before most remaining output returns in Q1 of 2027.The improved outlook follows the June 18 memorandum of understanding between the US and Iran that ended the conflict and reopened the Strait of Hormuz, which had remained effectively closed since Feb. 28.The EIA said global oil markets adjusted faster than it expected as weaker demand, particularly in Asia, supply rerouting by Persian Gulf producers, higher exports from North and South America, and strategic stock releases eased supply disruptions.Brent crude spot prices averaged $85 per barrel in June, down $22/bbl from May, and $32/bbl from its April peak. Spot prices dropped below $70/bbl on July 1 as tanker traffic through the Strait of Hormuz accelerated and oil flows recovered, the report said."We expect ongoing oil inventory accumulation over the next year will continue to put downward pressure on crude oil prices, with Brent falling to an average of $65/bbl in 2027," according to EIA analysts.EIA forecasts Brent spot prices will average $74/bbl in Q3, down $ 27/bbl from last month's outlook. In Q4, Brent spot prices are estimated to average $70/bbl in Q4 2026, down from $103/bbl in Q2.The full-year Brent spot forecast is now estimated to average $82/bbl, down from $95/bbl in last month's outlook. For 2027, the Brent spot forecast was revised downwards by $15 to $65/bbl.WTI spot prices are expected to average $76.26/bbl in 2026 and $60.76/bbl in 2027, according to the STEO.The agency estimated that Middle East crude production shut-ins averaged 8.3 million b/d in June, down from 11.2 million b/d in May, reflecting improving supply conditions.Global oil inventories fell by an average of 5.1 million b/d in Q2 2026 and are expected to decline by another 2.2 million b/d in Q3 as previously stranded tankers continue unloading cargoes, the EIA said.The EIA expects the market to return to its pre-conflict oversupply during the second half of Q3, forecasting inventory builds averaging 2.7 million b/d in Q4 of 2026 and 5 million b/d in 2027.High fuel prices, supply shortages and government conservation efforts reduced global oil demand during the conflict, helping limit inventory declines despite significant production losses, according to the report.The EIA expects global oil consumption to decline by an average of 1.2 million b/d in 2026, including an 800,000 b/d decrease in non-OECD countries, before rebounding by 2million b/d in 2027 to 104.8 million b/d.Meanwhile, US gasoline inventories fell below the five-year range during April and May as lower production, fewer imports and stronger exports tightened supplies.The EIA expects higher refinery output and imports to stabilize inventories by Q4 2026, before inventories return to five-year averages early in 2027.The agency expects US retail gasoline prices to fall about 41 cents per gallon in Q3 from the second quarter to just under $3.80/gal as crude prices decline, although stronger wholesale and retail margins will offset part of the drop.The EIA forecasts retail gasoline prices will ease further to about $3.40/gal in Q4 2026 and average close to $3.10/gal in 2027 as inventories recover, crude prices decline and seasonal demand weakens.

Mining & Metals30d ago

Western Uranium Reports Over a 40% Grade Increase in the Final Assays of Uranium Deliveries

Western Uranium & Vanadium (WUC.CN) on Tuesday said it completed its uranium ore delivery program from the Sunday Mine Complex to Energy Fuel's (EFR.TO) White Mesa Mill in Utah.Post-processing assays performed by Western's customer showed natural uranium grades were more than 40% higher than the initial probe estimates at delivery, leading to a significantly larger final payment to Western, the company said."We are extremely pleased with the results of the Uranium Ore Delivery Program" said Chief Executive George Glasier. "The material increase between our probe-indicated grades and the final chemical assay results is a strong testament to the quality of Western's mineral resources at the Sunday Mine Complex."Western Uranium shares were last seen down C$0.03, or 5.4%, to C$0.53, on the Canadian Securities Exchange.Price: $0.53, Change: $-0.03, Percent Change: -5.36%

$WUC.CN

Mining & Metals30d ago

Update: Gold Edges Lower as the Dollar and Yields Move Up

(Updates price in the second paragraph.)Gold edged lower midafternoon on Tuesday as the dollar and bond yields rose, with the metal remaining rangebound even as inflation worries eased with lower energy prices.Gold for August delivery was last seen down $9.70, or 0.2%, to $4,157.80 per ounce.The price of the precious metal has stayed above $4,000 per ounce for much of the last month as energy prices ease following the June 17 ceasefire agreement between Iran and the U.S. Oil has returned to prewar levels, lowering concerns rising inflation would force central banks to lift interest rates, though yields remain elevated after the Federal Reserve last month warned it may need to increase the benchmark before year end."Bullion remains rangebound as it attempts to shift from capitulation to consolidation, supported by softer US data and a less hostile dollar and yield backdrop," Saxo Bank said in a note. "However, with short-dated US yields still signalling a risk of a rate hike later this year, a further easing in rate expectations is needed to support a more durable recovery."The dollar rose, with the ICE dollar index last seen up 0.12 points to 100.97. Treasury yields were higher, with the US two-year note last seen up 4.2 basis points to 4.158%, while the 10-year note was paying 4.523%, up 4.9 points.

$GCQ6$GLD

US Markets30d ago

May Trade Deficit Grows to Widest Since March 2025 as Imports Rise, Exports Drop

The US trade deficit grew in May to its widest since March 2025, as imports increased and exports fell, government data showed Tuesday.The goods and services deficit widened 42% sequentially to $77.59 billion in May on a seasonally adjusted basis, according to the Census Bureau and the Bureau of Economic Analysis. The consensus was for a deficit of $78.4 billion in a Bloomberg-compiled survey."Surging imports and a rare decline in exports spiked the US trade deficit to its highest level in more than a year," BMO Capital Markets Senior Economist Sal Guatieri said in a note. "Despite tariffs, the trade deficit has returned to levels of late 2024, before importers began front-loading purchases, suggesting little overall progress in shrinking the trade gap."Imports rose 3.3% to $395.26 billion in May, also the highest level since March 2025. Exports dropped 3.2% to $317.68 billion amid declines across industrial supplies, capital and consumer goods, official data showed.The exports and imports of services were the highest on record in May, according to the report.The US ran a $19.39 billion deficit in goods trade with Taiwan in May, compared with a $19.34 billion gap the month prior. The deficit with China grew to $14.47 billion from $12.02 billion. The goods trade deficit with the European Union rose to $9.32 billion from April's $7.19 billion. The shortfall with Vietnam swelled to $20.58 billion from $19.3 billion.In the year through May, the goods and services deficit decreased about 41% from a year earlier, official data showed."The large widening in the trade gap suggests some downside risk to our second-quarter real (gross domestic product) growth call of 2.1% annualized," Guatieri said.

Asia Markets30d ago

Update: US Equity Indexes Retreat as Chipmakers Hit Technology While Crude Oil Jumps Following Hormuz Missile Strike

(Updates with index/price moves and company/political news)US equity indexes declined as chipmakers helped push technology lower, while a missile strike on a Qatari vessel sent crude oil higher.The Nasdaq Composite fell 0.6% to 25,972.1, the S&P 500 fell 0.2% to 7,519.8, and the Dow Jones Industrial Average retreated 0.4% to 52,869.1 after midday Tuesday. The technology sector led decliners, followed by industrials and materials. In addition to energy, the top gainer, other sectors in the lead included real estate, healthcare, and utilities.Among stocks with market capitalization exceeding $200 billion each, 14 out of the bottom 20 names were technology firms, according to data compiled by Finviz. More than half of the decliners were semiconductor firms. The worst performer was Intel (INTC), down 9.2%, after Samsung Electronics' preliminary earnings disappointed investors.Shares of Space Exploration Technologies (SPCX) slumped 5.3% after the company was added to the Nasdaq 100 on Tuesday.In geopolitical news, Iran's Revolutionary Guard Corps fired missiles at vessels in the Strait of Hormuz, striking a liquefied natural gas carrier, according to media reports.The front-month global benchmark North Sea Brent jumped 3% to $74.17 a barrel, and the US West Texas Intermediate advanced 2.8% to $70.48 a barrel."Oil prices and especially LNG rose after a Qatari LNG ship was struck by a projectile near the Omani coast as it exited the Strait of Hormuz, raising unease among shipowners while once again testing a US-Iran agreement intended to halt attacks and keep the narrow strait open," Saxo Bank said in a note.France and Britain will outline plans for a multinational maritime mission in the Strait of Hormuz at talks between NATO and Gulf Arab foreign ministers on Tuesday, Reuters reported, adding that diplomats noted Iran's rejection of the initiative makes it unlikely to break the deadlock over the critical waterway in the Persian Gulf.In economic news, consumer expectations for one-year US inflation growth jumped to 3.7% in June from 3.5% in the previous month, according to a survey released by the New York Federal Reserve Bank. The print is the highest since September 2023. Median inflation expectations rose to 3.3% from 3.1% three years ahead, and remained unchanged at 3.0% over five years.The US international trade deficit widened to $77.59 billion in May from a revised $54.57 billion gap in April, compared with a wider shortfall of $78.4 billion expected in a Bloomberg-compiled survey. Imports rose in the month, while exports fell.Consumer confidence for July rose from the prior month, with the RealClearMarkets' monthly index rising to 45.5 from 42.5 in June. A print above 50 suggests optimism, while a reading below 50 suggests pessimism.Redbook US same-store sales surged almost 12% from a year earlier in the week ended July 4 after a year-over-year increase of nearly 1% in the previous week. "Significant nationwide temperature increases, combined with Independence Day promotions, led to increased demand for summer merchandise and brought more shoppers into air-conditioned stores," Redbook noted.Most US Treasury yields rose. The two-year yield climbed 2.4 basis points to $4.15%, and the 10-year jumped 4.4 basis points to 4.52%.Gold futures slipped 0.4% to $4,152.8, and silver futures dropped 1.7% to $61.26.In company news, Amazon (AMZN) is seeking to raise at least $25 billion from a sale of US-dollar bonds, Bloomberg reported, citing people familiar with the matter.

Dow JonesNasdaq CompositeS&P 500$AMZN$INTC$SPCX

Oil & Energy30d ago

EMEA Oil Update: Crude Climbs as Hormuz Vessel Attacks Stoke Supply Concerns

EMEA crude futures climbed in after-hours trading on Tuesday after a series of attacks on tankers in and around the Strait of Hormuz heightened concerns over potential disruptions to the strategic waterway.Brent crude futures rose 2.9% to $74.13 per barrel, while Murban crude futures advanced by 3% to $68.70/bbl.Soojin Kim, a research analyst at MUFG, said crude prices edged higher after renewed attacks on commercial vessels in the Strait of Hormuz highlighted persistent security risks.On Tuesday, two separate incidents of tankers transiting the Strait sustained minor structural damage after being struck by uncrewed aerial vehicles, the UK Maritime Trade Operations said, taking the total number of tanker attacks since Monday to three.Iran's Islamic Revolutionary Guard Corps attacked a liquefied natural gas carrier after ignoring warnings while passing through the Omani route, according to Iranian media reports.Qatar's foreign ministry spokesperson, Majed Al Ansari, said the targeting of the Qatari tanker near the Hormuz was an unacceptable attack on the security of international navigation and global energy supplies.Al Ansari called on Tehran to "immediately cease all practices that undermine regional security or threaten the safety of international maritime navigation." A Saudi-flagged crude oil tanker was also reportedly damaged off Oman's coast.Saxo Bank strategists said that crude prices rose after a Qatari LNG ship was struck by a projectile near the Omani coast, raising unease among shipowners while once again testing the US-Iran peace agreement.Shipping via the Hormuz has continued to recover but remains below pre-conflict levels, with MarineTraffic reporting 108 confirmed crossings between Jul 3 and 5.Kpler said improving Strait flows and weak Chinese demand have left Asia well supplied, shutting west-to-east arbs.Meanwhile, global crude prices are projected to face renewed downward pressure as crude production rebounds and trade flows via the strategic waterway recover following the US-Iran peace deal to end the Middle East conflict, according to the Energy Information Administration.The EIA said in its Short-Term Energy Outlook that Brent crude prices averaged $85/bbl in June, down $22 from May and $32/bbl below their April 2026 peak. The agency slashed its Brent forecast for Q3 to an average of $74/bbl, $27 lower than its previous outlook.The EIA said that the recovery in supply and the restoration of oil trade flows are expected to ease pressure on global inventories. The agency now forecasts global oil inventories to decline by 2.2 million barrels per day in Q3, lower than its previous forecast of over 7 million b/d.

Treasury30d ago

US 3-Year Auction High Yield Falls From Previous Month, Demand Lower

The US Treasury's 3-year auction hit a high yield of 4.179% on Tuesday, down from the 4.192% high in the previous auction.The bid to cover ratio for the auction was 2.60, below the 2.64 ratio in the previous auction.Dealers represented 53.48% of the bids, with direct bidders at 11.73% and indirect bidders at 34.79%.For takedown, dealers took 7.74%, with direct bidders at 24.75% and indirect bidders at 67.50%.

Treasury30d ago

US 3-Year High Yield 4.179% vs 4.192% Previous; Bid/Cover 2.60 vs 2.64 Previous

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Asia Markets30d ago

Update: US Equity Indexes Retreat as Chipmakers Hit Technology While Crude Oil Jumps Following Hormuz Missile Strike

Dow JonesNasdaq CompositeS&P 500$AMZN$INTC$SPCX