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WTI Holds Near $79 After Bearish Gap on Peace Talks, OPEC+ Output Expansion
West Texas Intermediate crude recovered from an initial bearish gap to trade around $79.30, still nursing a nearly 7% decline, as Middle East peace talks and a planned OPEC+ output boost loom.
Oil Plunges, U.S. Futures Rise on U.S.-Iran Talks
Brent crude dropped as much as 7.3% and U.S. equity futures climbed after Trump announced fresh U.S.-Iran talks starting Monday, boosting hopes for a Strait of Hormuz deal. A small OPEC+ quota increase added to oil's pressure.
Central Bank Gold Buying Hits 289 Tonnes in Q2 2026
Central banks globally purchased 289 tonnes of gold in Q2 2026, a 62-tonne increase year-over-year and the largest quarterly addition since Q4 2024. The quarterly surge from the previous quarter was 231 tonnes (+407%).
Japan's MOF Plans to Use Fed's FIMA Repo Facility; Bessent Backs Expansion
Japan's Ministry of Finance said it intends to use the Federal Reserve's FIMA repo facility in the future. U.S. official Bessent described the facility as a crucial backstop and encouraged its expansion in the coming months.
Japan and U.S. Conduct Coordinated Yen-Buying Intervention
Japan's Finance Ministry confirmed it carried out a yen-buying operation with U.S. authorities on Friday to counter disorderly forex moves, and warned of further joint action.
OPEC+ to Increase September Oil Output by 188,000 bpd
OPEC+ agreed on Sunday to raise oil production by 188,000 barrels per day starting in September, amid ongoing Middle East disruptions.
U.S. Treasury Ready to Join Coordinated Intervention to Curb Yen Swings
Treasury Secretary Bessent says the U.S. will not hesitate to join additional coordinated intervention to address disorderly yen moves, maintaining close contact with Japan's MOF and BOJ.
Bessent Backs Japan’s FX Steps Targeting Yen Undervaluation
U.S. Treasury Secretary Bessent voiced strong support for Japan’s decisive market and monetary actions to address the yen’s significant undervaluation, citing Friday’s coordinated moves as effective in curbing disorderly swings.
Traders Eye Yen for Further U.S.-Japan Intervention After Sharp Rebound
Market participants are monitoring the Japanese yen for signs of additional coordinated intervention by Japan and the U.S., following last week’s joint operations that caused a sharp rebound. Finance Minister Katayama may announce as soon as Monday that both governments are working together.
Brent Crude Plunges Over 7% as Trump Nixes Iran Attack and OPEC+ Hikes Quotas
Brent crude tumbled more than 7% at the open Monday after President Trump said he scrapped a massive strike on Iran at the request of Saudi Arabia and other allies, while a fresh OPEC+ supply increase added to the selling pressure. WTI fell 6.7% to $78.98 a barrel.
Oil Falls, U.S. Futures Rise on Iran Talks Optimism
Oil slumped and U.S. equity futures advanced after President Trump said talks with Iran would begin Monday, raising hopes for a deal to reopen the Strait of Hormuz. S&P 500 futures rose 0.4%, with the risk-sensitive Australian dollar gaining and the yen edging higher.
Ukraine Strikes Russian Oil Refineries and Air Base
Ukraine’s military and security services reported strikes on an oil refinery, air base, and multiple refineries deep inside Russia, disrupting energy infrastructure.
UKMTO Reports Explosion Near Tanker Northeast of Khasab, Oman
The United Kingdom Maritime Trade Operations reported an incident 20 nautical miles northeast of Khasab, Oman, where a tanker's master reported hearing an explosion nearby. All crew were reported safe.
Trump Holds Off Iran Strikes, Signals Hormuz Deal May Be Near
President Trump delayed military action against Iran after receiving pledges that a deal on the Strait of Hormuz is close, a move likely to calm markets.
Trump Says U.S. Intervenes in Yen Market Due to Good Japan Ties, Receives Financial Benefit
President Trump stated that the U.S. is intervening in the yen because of its strong relationship with Japan, adding that America is 'always there' for Japan and gains a financial benefit from the arrangement.
Trump Says Iran Talks Will Start Tomorrow Afternoon After Massive Attack Was Paused
President Trump announced that negotiations with Iran are set to begin tomorrow afternoon and revealed a planned massive attack was halted at the request of Iran, Saudi Arabia, Qatar, and the UAE.
US stock futures rise after Trump says Iran deal is near, cancels strikes
S&P 500, Nasdaq 100 and Dow futures gained, while crude oil plunged, after President Trump called off strikes on Iran and signaled a peace deal was close.
Israel Distrusts Hamas, Vows No Gaza Withdrawal Until Full Disarmament
Israel has warned the U.S. it will not withdraw from Gaza unless Hamas fully disarms, citing rearming and continued military ambitions, despite a ceasefire deal that includes a phased pullout.
Body of Sailor Killed in Ukrainian Attack on Iranian Ship Returned to Iran
A week after a Ukrainian attack on an Iranian commercial ship, the body of the killed sailor, eight survivors, and the ship's owner have all returned to Iran, according to ISNA.
Iran's President Vows to Compel Adversary to Honor Agreement, Sees Security Boost
Iran's president stated the country must force its adversary to abide by a signed agreement, adding that a memorandum will enhance security for Iran, the region, and its allies.
Iran President: Signed Memo to Anchor Future Foreign Policy
Iranian President Masoud Pezeshkian stated that a recently signed memorandum reflects the collective wisdom of the Shura Council and will become the center of gravity for Iran's foreign relations.
Japan, U.S. Jointly Intervene to Halt Yen’s Decline, Finance Minister Says
Finance Minister Katayama will announce Monday that Tokyo and Washington conducted coordinated intervention to stem the yen’s slide, with the operation still ongoing.
Ten Drown, One Dies in Mass Migration Attempt to Spanish Enclave Ceuta
At least 11 people died as around 40,000 migrants attempted to cross into the Spanish enclave of Ceuta from Morocco, with others attempting to enter Melilla, according to Moroccan authorities.
Morocco Blames Social Media, Smugglers for Ceuta Migration Surge
Morocco's Interior Ministry attributes the recent spike in Ceuta migration to misinformation on social media, smugglers, and a Spanish court ruling limiting rapid sea returns.