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13.07.26 - 09:00
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Oil price jumps over 4% and gold slides as the US and Iran trade attacks –business live (The Guardian)
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Asian shares tumble with South Korea's Kospi down nearly 10%Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.It's a gloomy start to the week as attacks between the US and Iran in the Gulf continue. Tehran said it had closed the strait of Hormuz, while Donald Trump insisted the key shipping passage remained open and US officials said 20 ships were escorted through the waterway in the past 24 hours.For now, we remain hopeful that both parties would return to the negotiating table and traffic would start to flow through the strait. We are not looking for oil prices to go back to the March highs.This week would be an important week to determine which direction geopolitics takes. Focus would also be on US CPI [consumer prices index], particularly with oil prices threatening further inflationary pressure in the pipeline. It's also likely to an important week for central bank speech with Warsh testimony in front of the House (Tuesday) and Senate (Wedne...
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13.07.26 - 04:24
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Chaos returns to Middle East: Oil prices jump 4% as US-Iran exchange strikes (Times of India)
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Oil prices surged sharply as renewed military action between Iran and the United States escalated tensions. Fresh strikes expanded to Qatar and the United Arab Emirates over the weekend. This escalation has clouded the future of the interim US-Iran agreement signed last month. Market participants remain cautious about how the developing situation could unfold. Iran's Ministry of Foreign Affairs issued a strong condemnation of the latest US military strikes....
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13.07.26 - 03:48
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Oil Jumps, Futures Drop On Fresh Iran Strikes, Hormuz Confusion (ZeroHedge)
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Oil Jumps, Futures Drop On Fresh Iran Strikes, Hormuz Confusion
Oil jumped and US equity futures fell after the US launched another round of strikes against Iran, while conflicting claims over the status of the Strait of Hormuz heightened uncertainty.
S&P 500 futures dropped 0.2% in early trading Monday after the cash index closed 0.4% higher on Friday.
WTI crude climbed 3% at the open, trading around $74, while the dollar rose against most major peers.
Risk crept in after the US military launched several rounds of strikes in recent days, culminating with the latest barrage around 5pmET on Sunday aimed at further weakening Iran's ability to strike civilian vessels transiting the Strait of Hormuz, the US Central Command said. The latest action followed Iranian drone and missile attacks on US allies including Kuwait, Jordan and Qatar in response to earlier US strikes.
At 5 p.m. ET today, U.S. Central Command forces began launching more strikes against Iran to continue degrading their abil...
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12.07.26 - 17:01
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Trump widerspricht Iran: Straße von Hormus ist offen (DPA-AFX)
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US-Präsident Donald Trump hat die Straße von Hormus entgegen iranischer Aussagen als offen für den Schiffsverkehr erklärt. "Sie ist offen", sagte Trump am Sonntag in der NBC-Sendung "Meet the Press" --- Die Iranischen Revolutionsgarden (IRGC) hatten in der Nacht bekanntgegeben, dass die Meerenge bis auf weiteres und bis zum Ende der US-amerikanischen Eingriffe in der Region geschlossen bleibe. Die Durchfahrt sei verboten..
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10.07.26 - 17:54
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IEA Warns Escalation In US-Iran Hostilities Could Upend Oil Surplus Forecast (ZeroHedge)
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IEA Warns Escalation In US-Iran Hostilities Could Upend Oil Surplus Forecast
Despite the tentative recovery of oil flows through the Strait of Hormuz and the first build-up in global stocks since the war began, this week's re-escalation of the U.S.-Iran hostilities could flip the outlook for an oil market surplus for next year, the International Energy Agency said on Friday.
Oil prices have plunged since the United States and Iran signed the memorandum of understanding (MoU) in the middle of June, with North Sea Dated prices down by $31 per barrel in June to $68 a barrel by early July, their lowest since January and $2 per barrel below pre-war levels, OilPrice reported.
And while the oil market is still expected to move to significant surplus towards the end of the year, IEA said that this is heavily predicated on the assumption that tanker flows through the Strait will gradually recover: “An escalation in hostilities on 7-8 July, however, clouds the outlook and could upend the forecast...
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