Iran’s order to close the Strait of Hormuz lifts WTI crude to $91.00, up 1.03% after US military action. The US military conducted strikes on multiple Iranian targets Wednesday, citing self-defense in response to Tehran’s ongoing aggression. The operation followed Presiden
Markets price nearly 300 basis points of RBNZ tightening by December but dismiss the Kiwi due to negative carry versus the USD. The New Zealand Dollar holds the steepest implied tightening path among developed economies, with markets pricing nearly 300 basis points of Rese
Weak Chinese consumer demand and rising producer costs pressure Australia’s export-driven currency despite higher commodity prices. The Australian Dollar fell to its lowest level since April, closing below 0.7000 against the USD after a 300-pip drop from May’s peak. A soft
XAU/USD drops to its lowest level since November 2025 as US CPI rises 4.2% YoY, reinforcing expectations for prolonged Fed tightening. Gold prices fell to around $4,050 per ounce, the lowest since November 2025, as US inflation data bolstered expectations for higher-for-lo
Closure of the key oil transit route disrupts 20% of global crude flows, escalating tensions after military strikes on vessels. Iran’s military declared the Strait of Hormuz closed to all vessels, including oil tankers, and struck two ships attempting passage. The move dir
Algeria aims to increase gas exports to Europe Algeria is preparing for its 2026 hydrocarbon bidding round, seeking to capitalize on high oil and gas prices. The country is trying to cement its position as Europe's second-largest natural gas supplier. Europe is l
DCC shareholders are offered £66.72 per share in a revised buyout proposal from KKR and Energy Capital Partners. Ireland’s DCC has agreed to support a revised £5.7 billion ($7.63 billion) takeover bid from a consortium led by KKR and Energy Capital Partners. The offer valu
Trans Mountain pipeline hits full capacity due to Strait of Hormuz disruption The Trans Mountain pipeline has reached full capacity for the first time since its 2024 expansion, with 890,000 bpd. The pipeline's full capacity is attributed to the Strait of Hormuz dis
Traders increased short bets on Brent crude threefold since March as geopolitical risks in the Middle East appear priced out of oil markets. Portfolio managers have ramped up short positions in Brent crude futures, tripling them between late March and early June. The lates
US strikes Iran navy bases to force deal The US has launched a second day of strikes against Iran, targeting navy bases and air defences. The aim is to pressure Tehran into signing an agreement. The strikes have hit southern Iran, including air defence syst
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