US strikes revokes oil sales 🚢, Fed sees inflation ease 📉, De Beers slashes diamond prices 💎, Shell's profit bonanza ⛽

Ukraine's interception of Russian ballistic missiles has fallen to zero in recent large-scale attacks, highlighting a shortage of US-made Patriot interceptors. The recent Russian strikes, including 23 Iskander-M missiles, have resulted in increased casualties and destruction in Kyiv, intensifying the need for replenishment of air defense munitions.

Straitstimes · 3 minute read

Federal Reserve Bank of New York President John Williams expressed a more positive outlook on near-term inflation due to expected declines in energy prices, despite inflation still being considered too high. However, he maintained that the monetary policy stance remains unchanged, focusing on maximum employment and price stability, while recent geopolitical tensions affecting energy prices are easing.

Yahoo Finance · 3 minute read

De Beers has significantly reduced diamond prices in response to a decrease in its number of buyers, aiming to boost demand amid challenging industry conditions.

Miningweekly · 3 minute read

Goldman Sachs is focusing on stock picks within the 'HALO' trade — heavy assets, low obsolescence — as it moves into a more challenging phase where companies must prove themselves through earnings. The team recommends infrastructure, basic materials, aerospace and defense, manufacturing and consumer platforms, and technology sectors, with specific stock picks including Shell, Airbus, and ASML Holding among others.

Morningstar · 6 minute read

Deutsche Bank analyst Jim Reid predicts that while AI has significant potential to enhance productivity and create jobs, it may take years for its benefits to be fully realized in economies. Despite concerns of a potential tech bust due to rapid AI advancements, Reid believes the historical pattern of innovation suggests AI will be work-enhancing without causing aggregate job loss.

Yahoo Finance · 3 minute read

Ukrainian drones have attacked a dozen tankers, part of Russia's 'shadow fleet', over the past two days in the Sea of Azov, targeting vessels delivering fuel to Crimea amid Kyiv's intensified campaign to isolate the Russian-occupied peninsula. These strikes are part of broader efforts to disrupt Russian naval logistics and have led to fuel shortages in Crimea, prompting authorities there to declare a state of emergency.

Com · 3 minute read

Shell forecasts much higher oil and LNG trading profits for Q2 2026 due to extreme market volatility from the Iran war, reporting gains beyond those in Q1, as market conditions drive significant earnings increases for European energy majors.

Oilprice · 2 minute read

SpaceX debuted on the Nasdaq 100, with a Raymond James analyst predicting a $10.5 trillion valuation based on future AI ventures, while investor Jeremy Grantham criticized these projections, anticipating a 90% chance of a company crash.

Thenextweb · 3 minute read

Anastasiia Berezovska, suspected of a bomb attack in Monaco that injured a Ukrainian tycoon, was found dead near Kyiv. Ukrainian prosecutors arrested two men linked to the case, including a military officer, and are investigating their involvement in the attack, which may have repercussions for Ukraine's government.

The Guardian · 3 minute read

The U.S. Treasury Department is revoking its authorization of Iranian oil sales due to a series of Iranian attacks on tankers in the Strait of Hormuz, withdrawing the license that permitted the sale of Iranian oil via an interim deal with Tehran.

CNBC · 1 minute read

The US conducted strikes on over 80 sites in Iran, including military targets, in response to recent attacks on commercial vessels in the Strait of Hormuz. Additionally, the US revoked a waiver for Iranian oil sales, jeopardizing a peace agreement and causing Brent oil prices to rise.

Com · 5 minute read

China's central bank, the People's Bank of China (PBOC), has emerged as the largest buyer of gold in 2023, increasing its holdings amidst fluctuating bullion prices.

Theedgesingapore · 3 minute read

China has increased its purchases of US soybeans, signaling a ramp-up in a crucial area of agricultural trade between the two countries.

Theedgesingapore · 3 minute read

Russia is facing challenges with decreasing oil prices and unsold crude due to increased Ukrainian drone attacks on its refineries, which have hit facilities such as Lukoil's Norsi and Omsk refinery. This has led to increased exports as domestic processing declines, causing a build-up of oil at sea.

Yahoo Finance · 3 minute read

A US government report indicates that global crude oil production and flows are expected to return to pre-war levels by the end of this year, earlier than previously estimated, with most production resuming by early 2027 following disruptions from the Iran war.

Yahoo Finance · 2 minute read

SpaceX's IPO has significantly increased on-chain tokenized stock trading volume to $3.86 billion in June, with SPCX alone contributing $1.19 billion, accounting for 31% of the total volume.

Kucoin · 1 minute read

Bitcoin's price fell to $63,214.40 on Tuesday, marking its first decline this month after hitting a two-week high on Monday. Despite recent gains in the cryptocurrency market, derivative traders are not fully participating in the rally, raising concerns about the sustainability of the recovery, while total crypto market valuation has increased by 8.4% since July 1, reaching $2.16 trillion.

Cryptonews · 4 minute read