πŸ“Š Market Snapshot

  • Spot Gold (XAUUSD): 4119.27, -0.11% (Friday close)
  • WTI Crude (USOIL): 71.423, -0.35% (Friday close)
  • Markets closed for the weekend; prices reflect Friday’s close

πŸ”₯ Key Headlines This Hour

🌍 Middle East Tensions Escalate Dramatically

  • Iran Attacks Kuwait: Kuwait’s Foreign Ministry strongly condemned Iran’s “vicious attack” on Kuwait this morning. This marks the first time Iran has directly expanded military action to a GCC member state during the current US-Iran standoff.
  • Iran Declares Control Over Strait of Hormuz: The spokesperson for Iran’s Parliamentary National Security and Foreign Policy Committee stated Iran “controls the Strait of Hormuz with power and will maintain it with power,” hinting at a potential blockade.
  • Commercial Vessel Attacked Off Oman: Container ship GFS Galaxy suffered stern damage and caught fire east of Oman; crew rescued by local authorities. Of 11 Indian nationals aboard, 10 have been rescued and 1 remains missing. India’s Foreign Ministry condemned the attack and called for immediate de-escalation.
  • Bahrain Activates Alert as regional tensions spread across the Gulf.
  • Pakistan’s Foreign Minister spoke with Iran’s Foreign Minister, urging all parties to adhere to the US-Iran Memorandum of Understanding. Qatari representatives previously flew to Iran for mediation.

πŸ‡ΊπŸ‡Έ United States

  • Trump mourned the passing of Senator Lindsey Graham, calling him “one of the greatest Senators” and a “true American Patriot.” Graham was a senior member of the Senate Foreign Relations Committee.

πŸ‡ΊπŸ‡¦ Ukraine-Russia

  • Ukraine claims to have sunk 14 Russian vessels on Sunday.

πŸ’» Tech / Semiconductors

  • Industry reports indicate HBM4 prices could rise from $2 to $4-5 per Kbit in H2 2026, driven by surging AI demand and structural capacity bottlenecks, with half of global DRAM capacity already locked in by major players.

πŸ‡¨πŸ‡³ China Markets

  • Shanshan shares projects H1 2026 net profit growth of 262%-334% YoY, driven by anode materials and polarizer businesses.
  • Sanyou Chemical projects H1 net profit growth of ~129% YoY, with chemical fiber and silicone segments recovering.
  • China Satellite projects H1 net profit of 30.5-36.5 million yuan, turning profitable YoY.
  • Beijing lifts city-wide flood emergency response.

🧭 Situation Assessment

The Middle East situation is rapidly evolving from a bilateral US-Iran standoff into a regional conflict.

Iran’s direct attack on Kuwait this morning is a major escalation signal, indicating Tehran is expanding the conflict scope to include GCC member states.

Iran’s simultaneous public declaration of control over the Strait of Hormuz, combined with the commercial vessel attack off Oman, poses a material threat to the world’s most critical oil transit route.

High alert for crude oil gap-up risk at Monday open; WTI could test above $75.

Gold, driven by geopolitical safe-haven demand, could break through the $4,150-$4,200 range on Monday.

Senator Graham’s passing may shift the balance of power on the Senate Foreign Relations Committee, indirectly influencing US policy direction toward Iran.

⏰ Upcoming Key Events

  • Monday (7/14): Fed Vice Chair Warsh Congressional testimony
  • Tuesday (7/15): US June CPI release
  • This week’s focus: Warsh testimony + CPI will determine near-term rate pricing dynamics
  • Indian Commerce Minister leads delegation to Spain, Belgium, Finland (7/13-17)