π° Hourly Briefing | 2026-08-01 12:00 CST
Oil tanker attacked near Oman, WTI crude surges to $85. Japan MoF declares intervention tools available. Gold retreats to $4,043. Chinese EV makers post strong July deliveries. Japan 5.8M earthquake near Aomori.
π Market Snapshot
| Asset | Latest | Change | % Change |
|---|---|---|---|
| Gold (XAUUSD) | 4,043.60 | -59.98 | -1.46% β |
| WTI Crude (USOIL) | 85.04 | +2.38 | +2.88% β |
Gold dropped from 4103 open to as low as 4020, down nearly 1.5%. Oil surged from 82.5 to 85.0, up nearly 3%, as the Oman tanker attack directly lifted geopolitical risk premium.
π₯ Key News This Hour
1. π’ Oil Tanker Attacked Near Oman, Engine Room Damaged UK Maritime Trade Operations received a report of an incident ~11nm NE of Oman’s Lima. A tanker’s security officer reported the vessel was struck by an unidentified projectile, damaging the engine room. The ship has lost control. No casualties or environmental damage reported. Middle East shipping risk escalates again, directly pushing oil higher.
2. π± Japan MoF Statement: Multiple Tools Available for Market Liquidity Japan’s Ministry of Finance posted on X that monetary authorities possess multiple tools including the Fed’s FIMA standing repo facility. This follows yesterday’s suspected $53B intervention and reports that the US may intervene in JPY on Friday. The statement is a continuation of intervention signaling.
3. π Chinese EV Makers Report Strong July Deliveries
- Leapmotor: 101,267 units, +102% YoY, first time exceeding 100k monthly
- Zeekr: 35,837 units, +111% YoY, record high
- HIMA (Harmony Intelligent Mobility Alliance): 45,046 units, 286k YTD, +13.7% YoY
4. π§ CXMT LPDDR6 Nears Validation Stage Chinese domestic memory chipmaker CXMT (Changxin Memory Technologies) is nearing the end of R&D validation for LPDDR6, a critical step before mass production.
5. π 5.8M Earthquake Off Aomori, Japan Depth 80km, maximum intensity 4, no tsunami risk.
π§ Situation Assessment
The Oman tanker attack, combined with Iran’s earlier closure of the Strait of Hormuz, continues to escalate Middle East shipping risks, providing strong geopolitical premium support for oil prices.
Gold’s nearly $60 pullback from above 4100 may be linked to cooling safe-haven sentiment from JPY intervention, but with Middle East tensions unresolved, downside appears limited.
Japan’s MoF statement is a continuation signal following yesterday’s massive intervention. The USD/JPY battle remains in progress, with the US also reportedly preparing to intervene today.
Chinese EV makers collectively delivered strong July volumes, with Leapmotor breaking the 100k monthly threshold for the first time, reflecting sustained industry momentum.
β° Upcoming Key Events
Saturday β US markets closed. Watch next week for:
- Potential US JPY intervention on Friday
- Middle East developments (Hormuz Strait status, shipping safety)
- US NFP data next week (if scheduled)