Southeast Asian governments face renewed energy shocks and trade disruptions due to revived US-Iran hostilities, prompting ASEAN foreign ministers to express grave concern and urge an immediate cessation of fighting.
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.
A Saudi-owned vessel was attacked in the Red Sea, causing a fire, confirmed by Saudi state media. Yemen's Iran-backed Houthi group claimed responsibility, stating it launched missile and drone attacks on two Saudi oil tankers as part of a 'maritime blockade' linked to the US-Iran conflict, raising concerns about escalating regional tensions and global oil supply disruption.
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.
Russia maintains contact with the US on Ukraine but sees no escalation in conflict resolution efforts. Tensions between the US and Iran persist, with experts speculating on the use of ceasefires for strategic planning. The EU struggles to agree on new sanctions against Russia.
Yemen's Houthi militia claimed responsibility for attacking two Saudi oil tankers, Encelia and Layla, in the Red Sea using missiles and drones. A Saudi news agency confirmed the Encelia was ablaze near Jizan. This comes amidst ongoing US military strikes in Iran and escalating regional tensions.
Bitcoin held firm near five-week highs despite escalating US-Iran tensions, with US stocks also shrugging off risks. Analysts suggest a potential short squeeze in the S&P 500, while some traders predict Bitcoin will outperform US stocks in the foreseeable future.
Southeast Asian foreign ministers expressed "serious concern" over renewed US-Iran hostilities, urging de-escalation to protect global energy and trade. The bloc also addressed South China Sea tensions, with US Secretary of State Marco Rubio criticizing China, coinciding with a deepening China-Philippines standoff near Second Thomas Shoal.
Analysts warn of renewed inflation fears driven by escalating US-Iran tensions in the Middle East, which keep oil prices high. BlackRock estimates a 0.8 percentage point increase to global inflation, particularly affecting energy-reliant regions like Europe and Asia. This environment reinforces the Federal Reserve's hawkish stance, prompting calls for diversified portfolios.
Vessel crossings in the Strait of Hormuz significantly decreased after US-Iran attacks. Yemen's Houthis declared a naval blockade on Saudi Arabia, threatening global energy supplies, and a tanker reported being struck by a projectile in the strait.
Oil prices surged after President Trump vowed retaliation for US soldier deaths, and Houthi militants declared a maritime embargo on Saudi Arabia, escalating US-Iran tensions and raising concerns about global supply disruptions.
During a White House press conference, President Trump addressed Iranian Supreme Leader Khamenei, claiming US strikes obliterated Iranian nuclear sites and threatening further bombing if Iran enriches uranium. Iran's Foreign Minister Abbas Araghchi demanded a respectful tone for any deal, while debate continues over the effectiveness of US strikes and Iran's retaliatory actions.
Oil prices showed mixed movements Monday, paring gains after Iran indicated potential negotiations with the U.S. amid ongoing American strikes and casualties. Renewed hostilities raise concerns over the Strait of Hormuz's oil transit security.
US diesel prices have again risen above $5 a gallon, with gas nearing $4, returning to pre-June highs. This surge is attributed to renewed US-Iran diplomatic uncertainty, new airstrikes, and unpredictable White House rhetoric, leading to universal cost increases.
Bitcoin dipped below $62,500 at Wall Street's open, extending losses as fresh US-Iran military strikes and earnings disappointments pushed stocks and crypto lower. Traders noted choppy, rangebound price action, with some analysts identifying a bear-market trend line forming.
Observable ship traffic in the Strait of Hormuz has ceased as vessels opt for "dark crossings" with transponders off, following renewed US-Iran fighting. Iran demands transit permissions, while the US asserts pathways remain open.
Chip stocks, led by South Korea's SK Hynix, experienced steep losses triggering circuit breakers. Oil prices rose amid US-Iran exchanges of strikes over the weekend. Reporting season begins with major companies like JPMorgan and Netflix.
Oil prices rose sharply Sunday evening as the US and Iran engaged in retaliatory strikes, contesting control of the vital Strait of Hormuz. US crude futures climbed 4.1% to $74.33, while Brent gained 3.88% to $78.96 amid escalating military actions.
Oil prices surged as the US and Iran engaged in strikes around the Strait of Hormuz. US crude futures rose 3.4% to $73.87 and Brent futures gained 3.5% to $78.67 amid escalating conflict over the vital energy trade route.
Fighting between the U.S. and Iran appears to have paused after intense strikes. A Supreme Court ruling puts TPS for over 300,000 immigrants at risk. Nominations open for UK Labour leader, with Andy Burnham expected to take the role.
Maritime traffic through the Strait of Hormuz has dropped by more than half following recent tit-for-tat strikes between the US and Iran. Data shows a significant decrease in cargo ships and tankers, raising concerns about global economy and oil supply.
Fighting between the U.S. and Iran appears to have paused after intense strikes. A Supreme Court ruling puts over 300,000 immigrants with TPS at risk of losing work permits. Nominations opened for the UK Labour Party election to succeed Keir Starmer.
Ayatollah Ali Khamenei, Iran's supreme leader, was buried in Mashhad after six days of funeral ceremonies. His burial coincided with escalating tit-for-tat attacks between the US and Iran, raising fears of all-out war. The successor, Mojtaba Khamenei, remained absent from public view.
Indian ship Lila Vadinar, carrying Kuwaiti crude, transited the Strait of Hormuz after being asked to turn back by Iran. Another Indian vessel also passed through. Seven India-bound ships, including fertilizer carriers, await evacuation amid escalating conflict restricting vessel movement.
