Wall Street analysts issued several key calls on AI-related stocks, with Raymond James initiating SpaceX with a bullish $800 target while Bernstein downgraded Salesforce due to weak feedback on its new AI product.
Russia is using small drones guided by fiber-optic cables to bypass electronic warfare and physical barriers, targeting critical components of Ukraine's electrical substations in a new, cost-effective tactic.
The International Energy Agency projects global oil demand will fall by 1 million barrels per day this year, the first annual drop since 2020, citing disruptions from the Middle East conflict. The agency also trimmed its outlook for Russian oil supply due to Ukrainian drone attacks.
China has reportedly instructed major oil refiners to maintain high production levels to safeguard domestic fuel supplies amid concerns that renewed U.S.-Iran conflict could disrupt crude shipments through the Persian Gulf.
The U.S. military has conducted strikes against Iran following an attack by the Islamic Revolutionary Guard Corps on a container ship, which left a crew member missing and the vessel disabled in the Strait of Hormuz.
Claudio Descalzi, CEO of Italian energy major Eni, cautioned that crude prices could break above $100 per barrel by early 2027 if regional conflicts continue, depleting global inventories and straining supply chains.
The British pound traded nearly flat against the U.S. dollar on Monday, as currency markets looked past last week's soft employment figures and focused on the potential for a hawkish tone in upcoming Federal Reserve minutes.
Taiwan's central bank acknowledged it sold foreign currency in June to intervene in the market, causing its foreign exchange reserves to drop to $597.15 billion amid a strengthening U.S. dollar.
The U.S. military has reportedly targeted Iranian missile and air defense systems, along with IRGC speed boats, in a significant escalation of tensions in the vital oil shipping lane, according to Axios.
