Tag: @LCO26V
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‘Hormuz remains blocked’: Iran disputes Trump claims as traffic sinks to near 3-month lows
The Persian Strait Gulf Authority said “the Strait of Hormuz remains blocked and will not be reopened until Iran’s conditions are accepted.”
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Oil rises on worries over supply disruptions as spill near Oman worsens
News of recent deadly attacks on vessels in the Gulf of Oman and the Red Sea drove oil higher. An oil spill near Oman continued to worsen.
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Japan wholesale inflation eases slightly to 7.2%, undershooting expectations
The PPI reading was lower than the 7.4% expected by economists polled by Reuters, and was down from a revised 7.3% seen in June.
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Saudi Arabia ramps up oil exports through Mediterranean pipeline to avoid attacks in Red Sea
Oil exports from Egypt’s Mediterranean port of Sidi Kerir have more than doubled. The crude is mostly from Saudi Arabia, according to Kpler.
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Strait of Hormuz ship traffic near three-month low as U.S.-Iran deal in doubt
Traffic is about 90% lower than the daily average of 130 ships that transited Hormuz before the U.S. and Israel attacked Iran on Feb. 28.
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Here are five key takeaways from the July CPI inflation report
Readings for July on the prices consumers pay for goods and services came in pretty much on target.
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Tepid CPI report gives the Fed more breathing room
July’s consumer price index report favored investors and the Federal Reserve.
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Mortgage rates finally stop rising, causing demand to trickle back
Mortgage rates finally eased a tiny bit, but it was enough to bring some demand back to a very beleaguered mortgage market.
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Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says
The IEA expects oil demand to fall by 1.6 million barrels a day in 2026 as high fuel prices and Strait of Hormuz disruptions weigh on consumption.
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Oil prices rise as Red Sea, Gulf of Oman attacks heighten supply concerns
Oil prices rose on Wednesday after deadly attacks on vessels in the Red Sea and Gulf of Oman heightened concerns over risks to global shipping routes.
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