📰 Hourly Briefing | 2026-07-13 23:00 CST
Trump announces resumption of Iran blockade, oil surges 5%; gold crashes 2.5% below 4000 before rebound; US Navy combat drones strike Iran port in historic first
📊 Market Snapshot
| Asset | Price | Change |
|---|---|---|
| Spot Gold (XAUUSD) | 4014.15 | -2.55% ↓ |
| WTI Crude (USOIL) | 74.34 | +4.09% ↑ |
| Brent Crude | 79.74 | +5.00% ↑ |
| Shanghai Gold Futures | 874.32 | -2.00% ↓ |
| Shanghai Silver Futures | 14120 | -2.11% ↓ |
- Gold hit intraday high of 4103, briefly broke below 4000 before bouncing
- WTI surged above $75/bbl during the session
- European natural gas prices hit highest since May 20
- UK 2Y gilt yield surged 10bp+ to 4.3465%, highest since June 11
- German 2Y yield rose 7bp to 2.72%, also highest since June 11
- Markets now fully pricing a 25bp ECB rate hike by September
🔥 Key Headlines This Hour
🚨 Trump Announces Resumption of Iran Blockade; Oil Surges 5%
Trump declared the resumption of blockade measures against Iran, sending crude prices sharply higher. WTI broke above $75/bbl with intraday gains exceeding 5%; Brent surged 5% to $79.74/bbl. Chinese crude futures followed suit, with SC crude +2.21%, bitumen +3.13%, and fuel oil +2.51%.
🛥️ US Military Strikes Iran Port with Maritime Drones in Historic First
US Central Command confirmed that forces used multiple one-way attack unmanned surface vessels to successfully strike a submarine and vessel repair facility at Iran’s Bandar Abbas naval base. Three “Pirate” USVs struck the port — the first combat use of maritime drones by US forces — aimed at degrading Iran’s ability to continue attacking commercial shipping.
🛡️ Ten European Nations Form Anti-Ballistic Missile Coalition with Ukraine
Leaders from Denmark, France, Germany, Italy, the Netherlands, Norway, Spain, Sweden, Ukraine, and the UK reached agreement to establish an integrated anti-ballistic missile coalition with Ukraine. Germany’s Foreign Minister also called for recalibrating security, defense, and deterrence measures on NATO’s eastern and northern fronts against Russia.
🛢️ Russian Refinery Halts After Drone Strike; Europe Rushes to Buy Russian Gas
A Ukrainian drone attack forced Russia’s Syzran refinery to suspend production. Simultaneously, European companies are accelerating purchases of Russian natural gas ahead of an impending ban, pushing European gas prices to their highest since May 20.
🇮🇶 Iraqi PM Arrives in Washington; Gulf Tensions Escalate
Iraq’s Prime Minister has arrived in Washington for talks with US officials. DP World plans to build a new port on the UAE’s eastern coast to bypass the Strait of Hormuz. This follows Trump’s earlier threat to take control of the Strait and demand massive compensation, which Iran’s military forcefully rejected.
📉 Gold Crashes 2.5%, Briefly Breaks Below $4,000
Spot gold plunged $105 intraday, hitting a low of $4,000.36/oz. Precious metals were under broad pressure, with Shanghai gold futures down 2% and silver down 2.11%. A stronger dollar and rotation of safe-haven flows into energy markets were the primary drags.
⚖️ ~12 States to Sue to Block Paramount-Warner Bros Merger
According to sources, approximately a dozen states plan to file a federal antitrust lawsuit on Monday to block Paramount-SkyDance’s acquisition of Warner Bros Discovery.
🔋 California Offers $3,500 EV Subsidy for First-Time Car Buyers
Governor Newsom signed legislation providing a $3,500 state-level electric vehicle subsidy for first-time car buyers.
🧭 Strategic Assessment
Trump’s resumption of the Iran blockade was the absolute dominant force this hour, driving a 5% single-hour oil surge while diverting safe-haven flows from gold into energy assets.
The US military’s first-ever combat use of maritime drones marks a substantive escalation of military pressure on Iran — the Strait of Hormuz security premium is unlikely to fade anytime soon.
Ten European nations forming an anti-ballistic missile coalition with Ukraine, combined with the Russian refinery strike and European rush for Russian gas, signals a broad intensification of European energy security anxiety.
ECB rate hike expectations have been repriced to a full 25bp hike by September, with European and US bonds selling off in tandem — rate-sensitive assets are under pressure.
Gold briefly broke below $4,000 before recovering, but the 2.5% daily decline has disrupted the near-term uptrend; watch for defense of the $4,000 round-number support.
⏰ Upcoming Key Events
- This week: US June CPI (Wednesday), US June PPI (Thursday)
- Iraq PM Washington talks — ongoing developments
- Paramount-Warner Bros antitrust lawsuit filing (Monday)