WS #12020
The US-Iran conflict continues to escalate, with new developments confirming intensification. Al Jazeera reports US launched more attacks on Iran, with explosions in Kish, Qeshm, and Bandar Abbas. Bahraini air defences intercepted Iranian aerial attacks. The Strait of Hormuz closure has driven Brent crude above $100 per barrel, and crude oil soars more than 9% as Trump reimposes Hormuz blockade and resumes military strikes. Singapore's economy expanded 5.7% in Q2, beating expectations, but downside risks from Middle East conflict remain. The Google EU antitrust fine of €4.1B was upheld, pressuring big tech. BOJ hiked rates to 1.00%, creating tension for AI leaders. Gold holds decline on renewed Hormuz blockade and hawkish Fed. CPI report due Tuesday 8:30 AM ET is a key macro event. The dominant theme is ESCALATING US-Iran conflict with no de-escalation signals.
Topics
Key developments
- US launches more attacks on Iran; explosions reported in Kish, Qeshm, Bandar Abbas
- Bahraini air defences intercept Iranian aerial attacks
- Strait of Hormuz closure drives Brent above $100; crude oil soars 9%
- Singapore Q2 GDP +5.7% yr/yr beats +5.5% estimate
- Google loses EU court fight over €4.1B Android antitrust fine
- BOJ hikes rates to 1.00%, historic pivot
- Gold holds decline on renewed Hormuz blockade and hawkish Fed
- CPI report due Tuesday July 14 at 8:30 AM ET