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US Travel Stocks Slide on Rising Oil Prices from Iran Tensions
Pre-market trading shows major US travel stocks falling as oil prices climb on renewed US-Iran tensions, with airlines and cruise lines declining between 2.5% and 4.2%.
Iranian Strikes Boost Brent to $76, but Upside Capped – DBS
DBS notes that Iranian attacks on shipping in the Strait of Hormuz pushed Brent crude from $72 to $76 and lifted US 2Y yields, but markets still see no return to full-scale war, keeping oil prices capped.
Aluminium Extends Gains on Deficit Outlook, ING Says
Aluminium has rebounded after hitting a four-month low, supported by a deficit outlook and lower prices attracting Chinese buyers, according to ING analysts Warren Patterson and Ewa Manthey.
US Energy Stocks Rise Premarket as Oil Surges After Trump Ends Iran Deal
Oil prices surged following President Trump's announcement that the Iran nuclear deal is over, lifting U.S. energy stocks in premarket trading. Major producers posted gains of 2-4%.
Gold Pressured by Oil Spike and Rate Concerns – OCBC
OCBC Bank analysts Sim Moh Siong and Christopher Wong note that gold and silver have come under renewed pressure due to a recent spike in oil prices, which is feeding through to inflation and rate expectations.
Trump Says MoU with Iran Is Over
President Donald Trump stated on Wednesday that the memorandum of understanding with Iran, intended to end the Middle East conflict, is finished.
Iran Threatens to Target Sites Supporting US Attacks
Iran's top military command has stated that any location providing support for US attacks on Iran is a legitimate target, according to Iranian state media. No independent confirmation has been reported.
WTI Dips Below $72 Despite Supply Concerns
West Texas Intermediate crude oil slipped below $72.00 per barrel during European trading, paring earlier gains even as supply worries persist.
Oil prices jump above $76/bbl on geopolitical risk – ING
Brent crude has risen above $76 per barrel as renewed tensions in the Persian Gulf and US strikes on Iran heighten supply concerns, according to ING analysts Warren Patterson and Ewa Manthey.
OCBC Analysts See Gradual Oil Downside with Security Premium
OCBC Bank analysts Sim Moh Siong and Christopher Wong highlight a gradual downside for oil, noting that oil and tech-led equity weakness have driven a stronger US dollar and higher global yields.
Gold Rebounds, but Broader Outlook Unchanged
Gold has rebounded from recent levels, but the broader technical picture remains weak according to a previous analysis that anticipated a potential drop toward $3,000.
Citadel's Frank Flight: US AI Story Is About Formation, Not Destruction
Frank Flight at Citadel argues that America's edge in AI is its ability to turn new tools into new businesses faster than the rest of the world.
Gold Edges Lower as Market Awaits Fed Minutes; Central Bank Demand Offers Support – ING
ING strategists report that gold has retreated from an earlier gain as traders look ahead to the June FOMC minutes. The metal remains supported by central bank demand and is moving in line with evolving US rate expectations.
Asian Equities Mixed on US-Iran Tensions – Deutsche Bank
Deutsche Bank notes Asian equities are mostly lower as investors digest heightened US-Iran tensions and surging oil prices, with South Korea's KOSPI falling over 5% while mainland Chinese indices and the Hang Seng show gains.
CEE Inflation Eases After Peaking in April-May
June inflation data for most CEE countries show headline inflation easing after a peak in April or May, with the Middle East conflict and higher commodity prices adding about 1 percentage point to inflation between March and May.
WTI Holds Above $72.00 Near Two-Week High on US-Iran Tensions
West Texas Intermediate crude oil consolidates near a two-week high above $72.00 as fresh US-Iran tensions provide price support.
Gold edges higher on subdued USD, but hawkish Fed and Iran tensions cap gains
Gold edged higher during Asian trade on Wednesday, breaking a two-day losing streak after falling below $4,100, though gains remain limited by hawkish Fed expectations and US-Iran geopolitical tensions.
China Test-Fires Submarine-Launched Ballistic Missile Into Pacific
China conducted a rare ballistic missile launch from a nuclear submarine into the Pacific Ocean, showcasing its sea-based nuclear deterrent and prompting regional nations to strengthen defense ties against Beijing.
Iran’s IRGC Claims Targeting 85 US Military Sites in Bahrain and Kuwait
Iran’s Islamic Revolutionary Guards Corps said it targeted 85 US military sites in Bahrain and Kuwait following a US ceasefire breach.
Iran Strikes Bahrain and Kuwait in Retaliation for US Airstrikes
Iran launched attacks on Bahrain and Kuwait early Wednesday, retaliating against a US airstrike on the Islamic Republic. The US had previously accused Tehran of striking three ships in the Strait of Hormuz.
Indonesia's Danantara Merges Four Firms to Form Largest Asset Manager
Indonesia's sovereign wealth fund Danantara has completed the merger of four local companies to create the nation's largest asset manager, aiming to better compete with regional financial institutions.
Iran Vows Decisive Retaliation After US Strikes on Southern Iran
Iran's Khatam al-Anbiya Central Headquarters condemned US airstrikes on southern Iran as aggression and vowed a decisive response, also reaffirming control over Strait of Hormuz traffic.
Iran Accuses US of Violating Ceasefire MoU
Iranian Parliament Speaker Mohammad Bagher Ghalibaf accused the United States of breaching key terms of the ceasefire memorandum of understanding in the Middle East.
RBNZ Signals Further Reduction in Monetary Stimulus, OCR Hike Ahead
The Reserve Bank of New Zealand indicated that additional reduction in monetary stimulus is likely needed to return inflation to target, with the MPC reaching consensus to increase the OCR.