πŸ“Š Market Snapshot

  • Spot Gold (XAUUSD): $4,603.25, +1.86%, daily range 4,508.82 - 4,632.18
  • WTI Crude (USOIL): $86.30, +0.44%, daily range 85.46 - 87.12

πŸ”₯ Key News This Hour

  1. EU countries push for windfall tax: Germany, Italy, Austria, Poland, Portugal and Spain are stepping up calls for an EU-wide windfall tax on oil companies (11:44)
  2. Hormuz tensions escalate: Macron will meet the Saudi Crown Prince in Paris to discuss the Strait of Hormuz; former US diplomat Joy Hood doubts Trump’s claim that the US controls the Strait of Hormuz, noting countries are taking “different measures” to cope with the chaos (11:21 / 11:17)
  3. Iran’s ambassador to Russia says US military morale is low: citing poor infrastructure, food, logistics and morale, with many killed in large-scale conflicts (11:24)

🧭 Assessment

The geopolitical focus remains on the Middle East, with the dispute over control of the Strait of Hormuz running parallel to diplomatic mediation; oil prices are highly sensitive to shipping risks and volatility is likely to stay elevated.

If the EU’s calls for a windfall tax on oil companies translate into actual policy, it would weigh on energy-sector valuations; watch for progress in the legislative process.

Gold is strong at highs, with a single-day gain of 1.86% showing a confluence of safe-haven demand and a weaker dollar; short-term momentum remains, watch the $4,600 level.

Oil is slightly higher but broadly range-bound, with direction depending on whether actual shipping risk in the Strait of Hormuz materializes.

No major new macro data this hour; focus is on geopolitical and policy headlines.

⏰ Upcoming Key Data

Today is Sunday and US markets are in the weekend session, with no major macro data due this hour. The next focus is on US economic data next week; watch for subsequent briefings.