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Finance & Markets

Gold Holds Steady as Progress on Hormuz Trims Rate-Hike Bets

Gold traded in a narrow range, as the prospect of an interim deal to reopen the Strait of Hormuz eased inflation concerns and reduced the odds of the US Federal Reserve raising interest rates.

We haven't written up this one. Bloomberg has the full story — the link below goes straight to it.

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Middle East War Triggers New Global Refining Boom

For the second time this decade, a war has upended global oil markets and sent oil prices and refining margins to multi-year highs, benefitting the world’s biggest oil companies and top refiners.

  • Iran war disrupts global oil markets, causing record-high prices
  • Strait of Hormuz becomes crude oil bottleneck, reducing refining throughput
  • Shell, TotalEnergies report highest Q2 profits since 2022

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