The House approved a non-binding resolution to remove U.S. forces from the war in Iran as the conflict escalates and oil prices jump. The newsletter also covers new tariffs, a fatal police shooting in Madison, and avocado oil adulteration.
Australian households are warned of a potential Reserve Bank interest rate hike and petrol prices exceeding $2 a litre due to the escalating Middle East crisis pushing global crude oil above $US100 a barrel, impacting inflation and household budgets.
Bitcoin dropped below $65,000 as rising oil prices, fueled by Red Sea tanker attacks and US threats against Iran, pushed Treasury yields higher and triggered a broader retreat from risk assets, impacting spot demand and ETF flows.
Donald Trump stated he is close to deciding on a "massive attack" against Iran, larger than previous strikes, as oil prices surge and regional tensions escalate. This follows US strikes on Iran and Houthi attacks on Saudi oil tankers, prompting diplomatic withdrawals and UN warnings of a region on the "edge of the unimaginable."
Houthi threats to Saudi oil shipments via Bab al-Mandab have pushed Brent crude above $100 a barrel and raised fears of a further spike. The disruption is also tightening global diesel, petrol and gas markets.
The EU unveiled its largest sanctions package in four years against Russia, leading FIDE President Arkady Dvorkovich to suspend his activity. The measures target 218 individuals and entities, including banks, vessels, and military-industrial complex, while Ukraine faces ongoing attacks.
Houthi attacks on Saudi oil tankers in the Red Sea, following their declaration of a naval blockade, have pushed Brent crude prices above $100 a barrel. Experts are monitoring which vessels the Houthis allow passage, particularly Chinese-owned ones, to gauge future market trends, while diesel prices are also impacted by Russian export bans.
US President Donald Trump threatened "major military punishment" for Iran and its Houthi allies after Houthi fighters struck two Saudi oil tankers in the Red Sea, extending the Middle East conflict. The attacks, coupled with US airstrikes on Iran, sent global oil prices surging and raised fears of a wider economic downturn.
Oil prices surged above US$100 a barrel amid US President Trump's threat of a "massive attack" on Iran and a Houthi blockade. The Commonwealth Games opened in Glasgow, while Australia faces domestic issues including an Origin Energy data hack and Labor party dissent.
Crude oil prices surpassed $100 a barrel, driven by new threats to Red Sea shipping from Yemen's Houthis, escalating the Middle East conflict. This surge is expected to lead to higher gas and diesel prices, impacting airline stocks and mortgage rates.
Oil prices surpassed $100 a barrel for the first time in two months due to escalating Middle East tensions, including Houthi militia attacks on Saudi oil tankers in the Red Sea. This renewed conflict threatens global oil supplies, pushing up government borrowing costs and causing stock market declines amid inflation fears.
U.S. stock indexes tumbled as investors priced in a prolonged Middle East conflict, with Brent Crude futures topping $100 and 10-year Treasury yields exceeding 4.7% after new attacks on tankers, raising concerns about inflation and borrowing costs.
Australia's car market is being reshaped by surging Chinese EV sales, while US stocks face volatility from tech spending concerns and rising oil prices due to Middle East conflicts. Australian small businesses are under pressure, and the US has imposed new tariffs on Australian exports, adding to economic uncertainty.
Yemen's Presidential Leadership Council announced oil export resumption from July 20, aiming to restore foreign currency and fund services. However, security challenges, Houthi threats, and restoring market confidence pose significant hurdles to sustained exports and economic stability.
Lego and Nintendo continue their partnership with the 1,371-piece Donkey Kong Arcade set, a playable replica of the classic game. Priced at $200, it features a working lever, joystick, and characters Jumpman, Donkey Kong, and Lady, launching August 1.
Oil prices surged to $100 a barrel for the first time since May due to escalating Middle East conflict, including US strikes against Iran and Houthi attacks in the Red Sea. This reignites global inflation fears, potentially leading to higher consumer prices and pressure on central banks to maintain high interest rates.
Oil prices surpassed $100 a barrel for the first time in two months due to escalating Middle East conflict, particularly Houthi attacks on Saudi oil tankers and rising US-Iran tensions over Red Sea and Strait of Hormuz oil flows.
The Iran war's reignition has disrupted oil flow through the Strait of Hormuz, pushing Brent crude to $100 a barrel. Gulf nations are accelerating at least seven major pipeline projects to reroute oil via the Red Sea, Suez Canal, and Gulf of Oman, with Iraq securing a $60 billion deal for a Syria pipeline.
Oil prices surged past $95 a barrel for the first time in six weeks due to escalating Middle East conflict, including renewed US-Iran aggression and Houthi threats to shipping in the Bab el-Mandeb strait. Analysts warn prices could hit $120 by year-end without a restart of Gulf exports via Hormuz, despite IEA efforts to cushion the market.
US President Trump threatens to destroy an Iranian bridge or power plant for each ship attacked in the Strait of Hormuz, prompting Iran to vow an 'eye for an eye' response amid escalating Middle East tensions
A US Navy-led maritime security group warned that Iran-backed Houthis in Yemen have completed preparations to attack Red Sea shipping, particularly near Bab el-Mandeb. The EU naval mission advised vessels linked to Israeli, US, or Saudi interests to avoid the area, while Iran has also increased attacks on tankers in the Strait of Hormuz.
Brazil's São Francisco River diversion project, designed to bring water to 12 million people in the drought-prone sertão, faces criticism for its uneven benefits. Displaced communities, like Maria de Fátima Ferreira da Silva's, still lack basic water access despite living near the new infrastructure, highlighting the human cost of large-scale development.
Japan imported approximately 1.53 million barrels of Russian oil in May and June at an average price of $103 per barrel, primarily from the Sakhalin-2 project, which is exempt from sanctions. This occurs amidst a domestic debate on energy security and continued cooperation with Russia despite G7 policies.
Market forecasts indicate a doubled likelihood of a Reserve Bank interest rate hike as escalating Middle East tensions drive fuel prices higher. Brent crude surged 23% to near $US90/barrel, impacting Australian motorists and raising stagflation concerns for the economy.
