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US-Iran Strikes Continue Overnight, FOMC Minutes Lean Hawkish

Stocks rally on Trump deal comments, Fed stays hawkish, China CPI misses, AI cash flows weaken, and fund manager cash hits record lows.
9 July 2026

US Strikes Iran, KOSPI Breaks Support, Chinese Real Estate Collapses

US strikes Iran; Brent +6%, stocks fall, yields and USD rise, while AI and broader market fragility remain in focus.
8 July 2026

Latest reports

Truce Abuse

VLSFO cracks rally on renewed US-Iran hostilities; diverging sentiment between pricing and prompt 380 spreads
9 July 2026

Brent trades lower to $77 as US and Iran threaten further strikes

Brent traded lower to $77 even as the US and Iran launch strikes for a second day, threatening further military action
9 July 2026

Funds Risk-On Across Crude & Products

Brent rebounded on renewed Iran tensions. We expect funds to add longs across crude/products, while producers stay more defensive.
8 page report
9 July 2026

Brent Breaks $80/bbl Following US-Iran Escalations

Brent breaks $80 as Iran tensions escalate, Hormuz risks rise, tanker flows halt, and China resumes fuel exports.
8 July 2026