π° Hourly Briefing | 2026-08-01 23:00 CST
Turkey and Iraq sign one-year oil pipeline agreement; WTI crude surges 2.9%; IAEA reports Zaporizhzhia nuclear plant loses external power for 23rd time; US EUCOM warns of insufficient naval forces to protect Israel; Gold drops 1.5% to $4,043.
π Market Overview
| Asset | Latest | Daily Change |
|---|---|---|
| Gold (XAUUSD) | $4,043.60 | -1.46% β |
| WTI Crude Oil (USOIL) | $85.04 | +2.88% β |
Gold retreated from above $4,100, with intraday range of nearly $90 (high $4,111.72 β low $4,020.94). Oil strengthened on the Turkey-Iraq pipeline agreement.
π₯ Key News This Hour
1. Turkey-Iraq Sign One-Year Oil Pipeline Agreement Turkey’s Energy Minister announced a one-year agreement allowing use of the pipeline to Ceyhan, with a daily capacity of 750,000 barrels. Efforts continue for a long-term deal. This is the direct catalyst behind today’s oil rally.
2. Zaporizhzhia Nuclear Plant Loses External Power for 23rd Time IAEA confirmed the plant lost external power for the 23rd time during military conflict. Cause of the latest ~2-hour outage remains unclear. Nuclear safety remains under pressure.
3. US EUCOM Warns: Insufficient Naval Forces to Protect Israel According to The Washington Post, US EUCOM commander Alexus Grynkewich privately warned the Pentagon this week that there are insufficient naval forces to continue protecting Israel from ballistic missile attacks. Military resources stretched thin.
4. US Treasury Secretary Pursuing Iranian Assets Globally Bessent stated during a Camp David cabinet meeting that, under President Trump’s direction, the Treasury is conducting an economic offensive against Iran and pursuing Iranian assets worldwide.
5. Lebanon-Israel 7th Round of Negotiations to Begin Tuesday in Rome Lebanese sources say the talks will last three days. Lebanon will not accept Israeli verification of “Phase 1” implementation. Diplomatic process continues but significant disagreements remain.
6. Hungary’s Danube Water Level Drops, Paks Nuclear Plant Output Plummets Hungarian PM announced Paks nuclear plant output has dropped to 480 MW (normal: 2,000 MW). Danube water level decline raises regional energy crisis concerns.
7. Rhine River Water Level Hits Record Low Cologne gauge station measured water level at 67-68 cm, breaking the 2018 record low. Inland shipping logistics under sustained pressure.
8. China July New Energy Vehicle Sales Results BYD July sales exceeded 419,000 units (record high, nearly 180,000 overseas); Leapmotor surpassed 100,000; Xiaomi Motors sustained above 30,000; SAIC Group sold 339,000 units in July.
π§ Situation Assessment
Crude oil is rallying strongly; the Turkey-Iraq pipeline agreement provides short-term supply certainty, but the impact of Iran’s Hormuz Strait suspension continues to simmer.
Gold’s significant retreat from highs may reflect that geopolitical risk pricing has become fairly saturated, with increasing profit-taking pressure in the near term.
The Middle East situation is growing more complex: insufficient US military resources, Iranian assets being pursued, Lebanon-Israel talks advancing but disagreements persisting β the multi-party game is entering deep waters.
European energy infrastructure is under stress: frequent power outages at Zaporizhzhia, reduced Hungarian nuclear output, Rhine River shipping disruptions β multiple risks compounding.
Weekend liquidity is low; watch for new Middle East developments before Monday’s open, especially regarding Hormuz Strait navigation status.
β° Upcoming Key Events
- Aug 3-9 Next week’s economic calendar has been released; check Jin10’s weekly calendar wallpaper for detailed timings
- Friday (Aug 1) US reported to intervene in JPY; watch USD/JPY volatility impact on Monday’s open
- Continued monitoring of Iran’s Hormuz Strait navigation status
- Lebanon-Israel 7th round of negotiations (Tuesday, Rome)