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Last updated: July 25, 2026, 8:30 AM ET

Middle East Tensions Drive Oil Prices Higher, Impacting Global Markets

Oil futures as the conflict in the Middle East widened and Ukraine struck Russian infrastructure. Brent crude is threatened to leave hovering around the $100-a-barrel mark well past July and into the end of the year, according to Rapidan Energy Group. Saudi Arabia warned key energy sites are at risk of retaliatory attacks after Iran-backed Houthis targeted tankers. A Hong Kong-flagged supertanker before reaching the Bab el-Mandeb chokepoint, where recent attacks were launched. Ship insurers for Saudi Arabian cargoes in the Red Sea due to these attacks. Russia’s largest oil port in the Black Sea amid a surge in Ukrainian drone attacks. The dollar, little changed as a result of the ongoing geopolitical instability.

Big Tech's AI Investment Fuels Bond Sales Amid Market Jitters

Big Tech's insatiable appetite for AI investment is unleashing a relentless wave of bond sales, having a larger impact on the US corporate bond market than might be obvious. Meta Platforms Inc. faces higher in its latest $12 billion data center financing, with BlackRock Inc. seeing weaker-than-usual demand for a corporate bond sale tied to a Texas data center project. Investors are grappling with concerns about excessive AI infrastructure spending, leading to a selloff in tech stocks. The Nasdaq 100 Index tumbled Friday, capping its first back-to-back weekly loss since late March. Companies big and small, changing the economics and power players of the industry, although some are now pumping the brakes on AI spending. Despite this, corporate earnings, yet investors remain unenthused due to AI spending worries and economic growth concerns.

Global Wildfires and Extreme Weather Prompt Mass Evacuations

Huge blazes have forced tens of thousands of residents and vacationers to evacuate in France and Spain. More than 200,000 people fled towns in central Spain and southern France overnight as uncontrolled wildfires moved closer to Madrid and Bordeaux. Forecasters warned fires across regions in Oregon, Idaho, and Washington where dozens are already burning.

US Economy Shows Resilience Amid Inflation and Geopolitical Headwinds

Applications for US unemployment benefits to a near 60-year low, signaling a stable labor market that allows the Federal Reserve to focus on inflation. The US cattle herd grew modestly, indicating ranchers may be starting to retain more animals after a historic shortage. American Express, driven by increased card member spending. However, the US economy, sending oil and gas prices soaring, while President Trump has imposed new global tariffs that could push prices higher. The yield on the 10-year Treasury bond has risen steadily this year, influenced by the Iran war, government spending worries, and AI spending boosting growth.

Corporate Dealmaking and Investment Activity

Blackstone, KKR, and Brookfield in a $16 billion deal, representing the largest foreign investment in the Gulf state. Japan’s Seven & i Holdings Co. has ended talks over a potential investment in Poland's Zabka Group SA. Vitol Group through share buybacks, even as its profits more than halved. Fitch Ratings to investment-grade status.

Geopolitical Developments and Trade Tensions

Taiwan stepping up to secure fuel and vital imports as Chinese government ships practice blockade maneuvers. Ukraine is seeking a 30-year energy agreement with Canada, focusing on LNG supply. President Trump in retaliation for fines on US tech groups, potentially sharpening trade tensions. Small businesses are suing the Trump administration over new tariffs, represented by a legal group that has challenged past duties. The breakdown of the US-Iran ceasefire threatens to leave Brent crude hovering around $100 a barrel well into the end of the year.

Market Movements and Investor Sentiment

Comex Gold at $4,067.60, with silver also posting gains. Hedge funds have on the Canadian dollar in two years due to the threat of American tariffs. The European equity market has seen a narrow rally this year. Investors are, with oil prices falling and Elon Musk’s empire struggling.