π° Hourly Briefing | 2026-07-09 17:00 CST
Ukraine claims hitting 12 Russian oil tankers in the Azov Sea, yet oil drops 2.3%; London asset manager dumps all US Treasuries for first time in nearly a decade; BYD Energy Storage signs 11.275 GWh deal with Masdar
π Market Snapshot
| Asset | Price | Change | % |
|---|---|---|---|
| Spot Gold (XAUUSD) | 4107.38 | +29.96 | +0.73% |
| WTI Crude (USOIL) | 72.82 | -1.70 | -2.29% |
Gold near session highs at 4117, supported by safe-haven demand. Crude fell 2.3% despite news of Russian oil tankers being hit β the market shrugged off supply disruption fears, with demand concerns dominating.
π₯ Key News This Hour
βοΈ Ukraine Claims Hitting 12 Russian Oil Tankers & Oil Terminal
Ukraine’s military claims striking 12 Russian oil tankers, 1 tugboat, and 1 cargo ship in the Azov Sea, along with a Russian oil terminal. The vessels were allegedly used to supply fuel to Russian forces and transport oil in circumvention of international sanctions. Oil prices fell despite the news, suggesting the market views this as a localized escalation with limited impact on global supply.
π¦ London Asset Manager Dumps All US Treasuries β First Time in Nearly a Decade
A major London asset manager’s fund has reduced its US Treasury holdings to zero for the first time in nearly a decade. Fund managers cited an overheating US economy, greater Fed rate hike potential vs. Europe, and multiple risks including debt, inflation, and Fed independence β flagging a clear mispricing between US and European interest rates.
π BYD Energy Storage Signs 11.275 GWh Deal with UAE’s Masdar
BYD Energy Storage will provide round-the-clock energy storage solutions for Masdar’s RTC project in Abu Dhabi, totaling 11.275 GWh. Middle East storage demand continues to surge as China’s battery supply chain accelerates its global expansion.
π¨π³ Reuters Poll: RMB Only Asian Currency with Bullish Bets
The latest Reuters FX survey shows short positions on the Korean won have eased but remain elevated, while the Chinese yuan is the only Asian currency receiving bullish bets in this round.
π’οΈ Goldman Warns: Hormuz Blockage Threatens Global Oil Supply Recovery
Goldman Sachs notes that if negotiations over the next 60 days can proceed with security guarantees and new sanctions waivers, oil supply could recover by late July; otherwise, flows will tighten further.
π MiniMax Crashes Nearly 20% on Lockup Expiration
MiniMax saw approximately 45% of its shares become tradable upon its six-month IPO lockup expiry β far above recent IPO norms β sending the stock down nearly 20% intraday.
π°π· South Korea & Mongolia Sign 21 Cooperation Agreements
The two nations signed deals covering critical minerals, energy, and other sectors, as South Korea diversifies its critical mineral supply chain.
π§ Market Assessment
Gold holding firmly above 4100 β with dual geopolitical risks from Russia-Ukraine and the Middle East, plus US Treasury credibility concerns, the safe-haven bid is unlikely to fade in the near term.
Crude tumbled 2.3% as the market ignored the Ukraine tanker strike β a clear signal that supply-side narratives are secondary right now, with weakening demand expectations and the on-again-off-again US-Iran ceasefire driving the price action.
The London manager’s full exit from US Treasuries is a notable signal β institutional confidence in US fiscal discipline and the inflation outlook is materially eroding, which is structurally bullish for gold in the medium-to-long term.
China’s A-share mid-year earnings season is ramping up with stark divergence: Shenhuo (+152%), Luoman (+429-580%) surging on cyclical strength, while Zhengbang (-700 to -800M loss) struggles β structural rotation continues.
β° Upcoming Key Data
- Today: US Initial Jobless Claims (20:30 CST)
- Tomorrow: China June CPI/PPI, US June CPI