π° Hourly Briefing | 2026-07-13 22:00 CST
Hormuz Strait crisis escalates as Iran's IRGC issues stark warnings to the US; spot gold plunges 1.89% to $4,041; WTI crude surges 2.87% to $73.48 on geopolitical risk premium; BofA raises AMD target to $620.
π Market Snapshot
- Spot Gold XAUUSD: 4041.43 (-1.89%) β | H 4103.31 / L 4040.72
- WTI Crude USOIL: 73.475 (+2.87%) β | H 74.942 / L 72.517
- Gold under significant pressure, breaking below the 4050 key level; crude buoyed by Middle East geopolitical risk premium
π₯ Key News This Hour
Hormuz Strait Crisis Intensifies Iran’s Revolutionary Guard declared it “will never allow the Strait of Hormuz to escape Iranian sovereign jurisdiction,” warning the US will face “unprecedented humiliation.” This follows Trump’s earlier statement claiming he would take over the strait and demand massive compensation from relevant nations. Iran’s Foreign Ministry also vowed revenge for the death of Supreme Leader Khamenei. DP World is planning a new port in Fujairah to bypass Hormuz.
Ukraine Extends Martial Law by 90 Days Zelensky submitted a draft to the Verkhovna Rada proposing to extend martial law and mobilization until October 31. Meanwhile, Ukrainian forces are accelerating attacks on Russian oil tankers. Putin acknowledged the operations are causing problems for Russian oil products but said the situation will gradually improve. European companies are rushing to buy Russian gas ahead of sanctions.
BofA Raises AMD Target to $620 Bank of America raised its AMD price target from $550 to $620, maintaining a bullish stance.
SpaceX Starship Flight 13 Cleared The FAA concluded its investigation into Starship Flight 12’s anomaly, clearing the way for Flight 13 planned this week.
Yemen Situation Deteriorates Houthi rebels accused Saudi Arabia of airstrikes on Sanaa International Airport, triggered by the first direct Iran-Sanaa flight in nearly a decade. The 2022 UN-brokered ceasefire framework faces severe strain.
Climate Tech Deal Volume Hits Record Global climate tech IPO and M&A activity reached an all-time high in H1 2026, driven by surging electricity demand unlocking decarbonization capital.
π§ Assessment
Gold’s break below 4050 weakens the technical picture, but geopolitical risks (Hormuz + Yemen) may provide support near 4000 β chasing shorts is not advised.
Crude oil is driven higher by Middle East tensions in the near term, but Trump’s “takeover” rhetoric is likely a negotiating tactic rather than actionable policy, so the risk premium could reverse quickly.
The Strait of Hormuz is today’s dominant narrative. Further escalation would simultaneously lift both gold and crude, creating a dual driver of safe-haven demand plus supply disruption fears.
On equities, AMD’s analyst upgrade is noteworthy. The Q2 earnings season is about to begin with earnings estimates revised up 3.4% against seasonal trends β market sentiment remains constructive.
β° Upcoming Key Events
- This week: US Q2 earnings season kickoff, SpaceX Starship Flight 13
- Ongoing: Hormuz Strait developments, Iran-US brinkmanship, Yemen ceasefire status