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US Oil Prices Expected to Surge Above $90, Jump 34% Since July
Analysts forecast US oil prices will top $90 per barrel by month-end, representing a 34% increase since July 2. This would push US gas prices toward $4.20 per gallon.
Open Models Challenge Economics of AI Boom
A new tremor in AI comes not from lost investor faith but from a tougher question: how will the economics of the boom hold up as capable models become cheaper, lighter, and easier to use?
US oil jumps to $85 after Iran claims strikes
US oil prices surged to $85 per barrel after Iran announced it struck an Amazon datacenter in Bahrain and water desalination plants in Kuwait in retaliation for US strikes.
US Stock Indices Open Higher: Nasdaq +1.01%, S&P +0.61%, Dow +0.36%
US major stock indices opened higher on the day, with the Nasdaq Composite leading gains up 1.01%, followed by the S&P 500 (+0.61%) and the Dow Jones (+0.36%).
Russian State Duma Passes Law on Digital Currencies
The Russian State Duma adopted a law recognizing digital currencies as property and setting rules for their circulation. The bill now requires approval from the Federation Council and the president's signature to become law.
Trump Plans 10% Tariffs on Dozens of Countries This Week
President Trump is preparing to announce 10% tariffs on 'dozens of countries' this week, according to the Financial Times. The move comes as current 10% tariffs expire, and advisors have reportedly warned against it.
Iran Tensions Resurface as Top Economic Factor, Analysts Warn of Escalation Risks
Geopolitical tensions with Iran have returned as a leading factor in global economics, with intelligence experts stating that the current cycle of offense and retaliation is unlikely to shift Tehran's stance. US President Trump reportedly fears an all-out war that would require ground troops.
Aluminium Output Declines in June on Regional Disruptions – ING
Global primary aluminium production fell in June both month-on-month and year-on-year, according to ING analysts Warren Patterson and Ewa Manthey, who highlight a softening supply picture due to regional disruptions.
US Private Sector Hiring Slows: ADP 4-Week Average Drops to 16.5K
The four-week moving average of US private-sector job gains fell to 16,500 in early July, indicating further cooling in the labor market according to the ADP National Employment Report's weekly companion.
Iran Strikes Amazon Datacenter in Bahrain, US Base in Jordan in Retaliation
Iran claims it struck an Amazon datacenter in Bahrain and a US military base in Jordan, destroying an F-15 fighter jet and missile defense radar, in retaliation for a US attack on its Darkhovin nuclear project.
Oil Geopolitical Premium Intensifies as Gulf Conflict Escalates – BNY
BNY strategist Geoff Yu notes that the US–Iran standoff and Houthi Red Sea threats sustain a geopolitical premium in Brent and WTI, with Brent approaching $88 per barrel.
Crude Oil Swings $5 Intraday, Ends Nearly Flat at $83.25
Crude oil saw a $5 intraday swing from $80.43 to $85.50 but closed almost unchanged at $83.25, reflecting institutional holding amid market anxiety.
UAE Reaffirms Solidarity with Bahrain, Kuwait, and Jordan
The UAE Ministry of Foreign Affairs has renewed the Emirates' full solidarity with Bahrain, Kuwait, and Jordan, expressing support for measures preserving their security and stability.
Iran Economists Warn Renewed US Conflict Risks Worse Inflation Crisis
Iranian leading economists warned Monday that renewed conflict with the United States could push the country's economic problems into a more dangerous phase, as inflation becomes increasingly difficult to contain.
Silver Rises to $58.96, Up 4.54%
Silver prices climbed on Tuesday, reaching $58.96 per troy ounce, a 4.54% gain from the previous $56.40, according to FXStreet data.
OCBC Warns Oil Could Surpass $100 on Middle East Escalation
OCBC analysts Sim Moh Siong and Christopher Wong warn that rising geopolitical risks around Middle East supply routes could push oil back above $100 per barrel, supported by the dollar.
South Korea Expands Digital Payment Pilot to 500,000 Wallets
South Korea will expand its digital payment pilot from 100,000 to 500,000 wallets, involving nine banks in the second phase. Testing may begin in September, with users paying via deposit tokens and a higher storage limit of 10 million won per wallet.
WTI Struggles Below $82, Bullish Potential Intact
WTI crude oil trades with a negative bias in early European trading, unable to extend the late rebound from the $79.50 area but still holding bullish potential.
Bahrain intercepts Iranian aerial attacks, accuses Iran of endangering civilians
Bahrain's air defenses intercepted and destroyed several Iranian aerial attacks on Tuesday, the Bahrain Defense Force said, accusing Iran of endangering civilians with missiles and drones.
Copper Prices Supported by Tightening China Conditions – ING
ING strategists report that copper prices are underpinned by tightening physical conditions in China, including scrap shortages, smelter maintenance outages, and declining inventories.
Iranian Officials Discuss Possible Petrol Price Hike, Parliament Not Yet Formally Presented
Iranian officials are considering an increase in petrol prices, but no formal proposal has been submitted to parliament, according to the spokesman for parliament’s energy committee.
UK PM Burnham's Tax Cut Pledge Faces Funding Doubts
A UK lawmaker has questioned the funding source of Prime Minister Andy Burnham's proposed tax cuts on energy bills, casting doubt on the new government's fiscal credibility and political stability.
UK Faces Water Shortage for Planned AI Data Centers, Report Says
The UK government aims to triple computing capacity by 2030, but official water consumption forecasts exclude data centers, which require significant water for server cooling. Current usage of 6.6 million liters per day could jump to 19.8 million liters.
Iran Strikes and UK Gilt Test Weigh on Dow, Inflation Surprises
The Dow Jones fell for a third consecutive session, absorbing the 52,000 level, as geopolitical tensions from Iran strikes and a UK gilt test against inflation surprises weighed on sentiment.