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Last updated: July 23, 2026, 8:30 AM ET

Oil Prices Surge Amid Geopolitical Tensions, Impacting Global Markets

Brent crude oil, reaching a three-year high, as escalating tensions in the Middle East and attacks on tankers in the Red Sea. Houthi rebels claimed responsibility for attacking two Saudi Arabian tankers, prompting Asian refiners to around Africa. This disruption, coupled with heat waves, has also, sparking concerns over further food inflation. The oil price surge led to a, with German bond yields hitting a 15-year high and the US 30-year bond yield holding above 5% for the longest stretch since the financial crisis. The Japanese yen and Swiss franc as oil prices rallied.

Corporate Earnings Mixed Amid Economic Headwinds and Strategic Shifts

Corporate earnings presented a mixed picture, with some companies driven by factors such as restructuring, lower costs, and