Compilation of some information for the day for you guys!
🛢️ Oil / Energy
• OPEC in June cuts its forecast for 2026 oil demand growth to 0.78 million bpd (from 0.97 mbpd)
• Kuwait sharply reduces its August crude oil selling prices, offering a $5 per barrel discount for Asia (vs a $5.25 premium)
• Iran lifts the ban on exporting petrochemical products, but still restricts industrial grease and sulfonic acid
• Iran & Russia are about to finalize a natural gas deal—energy giants to collaborate
• Nigeria’s June crude oil production hits 1.56 million bpd, exceeding OPEC quotas, the highest in 74 months

⛽ Other Energy
• LNG flows through Hormuz are paralyzed; Kpler: 0 vessels pass through from 11/7, impacting Qatar & the UAE

🌍 Geopolitics
• The UK lists Iran’s Islamic Revolutionary Guard Corps as a terrorist organization, summons the Iranian ambassador to “talk”
• Yemen says it carried out airstrikes on Sana’a airport to prevent Iranian aircraft from landing, blaming Saudi Arabia for breaking the ceasefire
• Iran says “Hormuz cannot be passed because of the US’s hostile actions”; Trump says “the US will operate and charge fees for the strait”

🏦 Monetary Policy
• Germany’s 10-year government bond yield rises by 2.4bp to 3.0585%, the biggest weekly jump since June, driven by surging oil + inflation
• Speculation: the BoE could be more hawkish if oil prices rise; market pricing shows a 28% chance of further rate hikes by year-end

💱 FX / Currency
• The dollar benefits from safe-haven demand & expectations of a hawkish Fed; MUFG warns it will flop if core CPI is weak
• ECB banking center: overnight deposits are still huge at €2,037 billion, liquidity signals “extreme surplus”

🥇 Gold / Metals
• India’s gold imports in June are just $1.97 billion, less than expected (affecting buying demand)
• The EU bans purchases, importing & transshipping gold from Sudan, tightening supply sources further.
#Pada_Research