Bloomberg L.P.
Global gold prices dropped below $4000 per ounce amid the escalation of the conflict around the Strait of Hormuz. Investors are also awaiting signals from the new Fed chair regarding interest rates.
The parasitic infection cyclosporiasis has spread to 31 US states, with the number of cases sharply rising. The highest number of infections has been recorded in Michigan – 2,640, where the incidence increased by 69% over the weekend.
Trump proposed a 20% compensation for cargo through the strait, which could amount to $30 million for a supertanker. Iran considers the rate excessive but agrees with the principle of payment.
Due to Ukrainian strikes, Russia's oil refining volume has dropped to 3. 91 million barrels per day, the lowest level since March 2005. This has caused a fuel crisis, shortages, and queues at gas stations.
Brent oil prices rose to $78. 50 per barrel due to the escalation of the US-Iran conflict. Investors fear supply disruptions and accelerating inflation.
Gold prices dropped to nearly $4,060 per ounce amid inflation fears and Fed rate hikes. Escalation in the Middle East increased pressure on the precious metals market.
Two heatwaves in 2024 may have caused over 2,700 deaths in England and Wales. More than 40% of them are linked to climate change, which raised temperatures by 3-4°C.
Leading AI developers OpenAI, Meta and SpaceXAI have introduced new models with higher token efficiency to reduce business costs. Businesses have started saving on AI due to multi-million dollar bills.
The US has launched a new round of strikes against Iran aimed at weakening its ability to attack vessels in the Strait of Hormuz. The operation continues amid conflicting statements from Washington and Tehran.
The death toll from two earthquakes in Venezuela has reached 235 people, with over 4,300 injured. Rescuers continue searching for people under the rubble, authorities have declared the state of La Guaira a disaster zone.
North Korea officially put into operation the new destroyer "Choe Hyon". Kim Jong Un announced plans to commission two new ships into the Navy each year for five years.
Global oil prices are heading for their biggest weekly drop after shipping through the Strait of Hormuz resumed. WTI crude fell to $75 per barrel, losing more than 9% over the week.
The US Department of Homeland Security has abandoned the initiative of former head Kristi Noem regarding a network of centers. New Secretary Markwayne Mullin has reviewed the strategy, abandoning seven of the 11 warehouses purchased for $700 million.
SpaceX shares rose 12% in the first week after the IPO, while Tesla lost 2. 9%. SpaceX briefly became the fifth most valuable company in the world.
Trump will propose that US companies produce weapons under license in Ukraine and Europe.
The tanker Mraikh, carrying Qatari gas, is heading to Pakistan following the US-Iran deal. This restores movement through the strategically important Strait of Hormuz.
Brent crude prices fell below $80 due to a peace agreement between the US and Iran. The restoration of traffic through the Strait of Hormuz has stabilized global supplies.
Apple will release the iPhone Air 2 with dual cameras and a better battery in 2027. The company will change its smartphone release schedule to compete with Samsung.
Due to the U. S. 250th anniversary, Reagan National Airport will restrict flights on July 3 and 4. Air shows and military flyovers will affect the schedule until the end of August.
The Finnish Parliament has authorized the import and possession of nuclear weapons for defense purposes. The country is strengthening its deterrence due to threats and integration into NATO.
An advisor to the President of the European Council held two conversations with a Russian official to prepare for future negotiations. The EU is considering the possibility of appointing a special envoy.
The UAE is expanding ports and building pipelines to export oil bypassing the Strait of Hormuz. The plan is aimed at achieving complete energy independence.
The US administration is asking Europe to fill defense gaps due to the withdrawal of American assets from NATO. The reductions will affect aviation, the navy, and drones.
Macron refused to scrap the digital tax despite Trump's threats to impose 100% tariffs on wine. The leaders will discuss the issue during the G7 summit in Evian.
Ukraine is expected to receive $700 million from the IMF without meeting a key condition. The Fund allowed the postponement of the tax on overseas parcels until July.
E3 leaders propose a ceasefire and security guarantees for Ukraine. At the G7 summit, they will ask Trump to support a new negotiations initiative.
Italian Prime Minister Giorgia Meloni called on the EU to appoint a representative for negotiations with the Russian Federation.
The price of gold dropped to $4,036 following US strikes on Iran. Investors are selling off precious metals en masse amid inflation rising to 4.2%.
Amazon raised a record 14 billion Canadian dollars through a bond issue. The deal triggered a sell-off of other assets and an increase in risk spreads.
Gold dropped to $4,170 due to the US-Iran conflict. Prices are also under pressure from expectations of tight Fed policy and rising bond yields.