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Last updated: July 16, 2026, 2:30 PM ET

Energy Markets Brace for Supply Shocks Amid Escalating Middle East Tensions

Oil prices surged on the news that U.S. strikes against Iran intensified, with an oil tanker near the country's main export terminal hit for the first time since the conflict began. Strait of Hormuz tanker traffic eroded further as the U.S. naval blockade of Iran continued, threatening a renewed oil supply crunch. Chevron Corp. plans sign with Iraq on Friday to invest in oil fields and a pipeline, seeking to boost Iraqi oil exports and explore alternatives to the Strait of Hormuz. Meanwhile, U.S. refiners are experiencing record-breaking profit margins for gasoline and diesel due to supply disruptions driven by war, though a sharp drop in diesel supplies again as truckers and farmers face a supply crunch pushing prices higher. U.S. natural gas futures ahead of storage data, while Canada's forgotten shale gas play reemerges as an oil hot spot. Middle East bond spreads as the U.S. and Iran resume fighting, with bond investors demanding the most compensation since October 2022.

Financial Sector Navigates Private Credit Boom, Regulatory Scrutiny, and Market Volatility

Apollo Global Management Inc. plans to put as much as $20 billion to work financing projects in Mexico as the asset manager seeks new outlets for its private credit business. Alternative asset manager Balbec Capital LP has obtained commitments of more than $930 million for its latest flagship fund. Citigroup's credit traders and analysts are recommending their hedge fund clients short bonds issued by French shipping giant CMA CGM Group, and Citigroup sees bondholders recovering less than 50% of Senegal’s debt under a revamp. Banca Monte dei Paschi di Siena SpA's board raised concerns over a takeover bid by Intesa Sanpaolo SpA, calling the price offered low and suggesting a potential tie-up with Banco BPM. U.S. Bancorp notched record second-quarter revenue due to strong loan growth and a boost from the recent acquisition of BTIG. Bond traders are scrambling to exit positions bought in anticipation of a Federal Reserve rate hike, following two benign inflation reports. Hoisington Investment Management Co., known for its bullish stance on U.S. Treasuries, has. Retail traders have moved from the stock market’s margins to its center, upending the established stock market order.

Corporate Earnings, Deal-Making, and Strategic Pivots Shape Industries

GE Aerospace on higher sales and profit, now expecting adjusted earnings per share between $7.65 and $7.85. Abbott Laboratories after a stronger-than-expected second quarter driven by improved performance across most of its business lines, though its second-quarter profit fell to $928 million from $1.78 billion a year earlier. Entain Plc will, or about 2% of its global workforce, as the gambling industry grapples with higher UK taxes, tighter regulation and growing competition from prediction markets. Ocado shares plunged 18% as its tech licensing division struggles, hitting a 13-year low. Raiffeisen Bank International AG in its bid to acquire Addiko Bank AG after shareholders representing more than 55% tendered their shares. Top shareholders oppose an "improved" £5.7 billion bid for DCC, saying the latest offer from KKR and Energy Capital Partners significantly undervalues the FTSE 100 energy group. Eli Lilly agrees to buy psychedelic biotech Ataibeckley for up to $3.8 billion.

Technology and AI Developments Drive Innovation and Regulatory Challenges

Google faces an order from European Union regulators to give AI rivals more access on Android smartphones, responding to fears of Google using its user base to gain an AI edge. Anthropic, the artificial intelligence lab, is said to have taken more steps consistent with in the fall. The German chemical industry remains in a structural crisis despite a brief breather, according to the industry's lobby. The operator of America’s biggest electricity network is entering an emergency process to plug a projected supply shortfall, as the U.S. power grid faces a defining test for the AI boom. Walmart's U.S. chief executive, John Furner, said REF:6