Global markets are navigating geopolitical tensions in the Middle East and the continued closure of the Strait of Hormuz. Meanwhile, iron ore producers in Australia are pushing for government support against Chinese monopsony buying power.
Key Takeaways
- 1.The Strait of Hormuz is expected to remain functionally closed until at least September, impacting global oil supply.
- 2.Global oil stocks continue to decline toward dangerous levels amid ongoing US-Iran tensions and supply losses.
- 3.Australian iron ore producers are seeking government intervention to counter Chinese monopsony buying power.
Table of Contents
- Weekly wrap
- FX Strategy
- Fixed Income Strategy
- Agri Commodity Markets
- Energy Markets
- Client coverage
- Disclaimer
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Authors
Benjamin Picton
Securities
DJIABrent Crude Oil
Themes
Energy supply disruptionGeopolitical instability in the Middle East
Regions
Middle EastAsia PacificUnited StatesIranIsrael