News

U.S. 10-year Treasury futures fell 5 points, while federal funds futures fell slightly.

Futures on the three major U.S. stock indexes opened lower on Monday, with Nasdaq futures falling 0.3%.

Iranian Foreign Ministry: Saturday’s Muscat talks focused on the management of the Strait of Hormuz, but the United States prevented an outcome on the issue by pressuring Oman.

U.S. Senate Minority Leader McConnell: I cannot return to the Senate chamber to vote yet. I will return to the Senate as soon as possible.

According to Iran's Fars News Agency: Around 00:30 this morning, more than 10 explosions were heard in Bandar Abbas Port and Sirik, Iran. The exact location of the explosion is unclear.

The Iranian Foreign Ministry strongly condemned the aggressive attacks by the United States against Iran in the past 24 hours, saying that these attacks not only flagrantly violated the basic principles of the United Nations Charter, but also posed a serious threat to international peace and security, making efforts to reduce tensions and establish peace in West Asia over the past few months in vain.

Slovak President Pellegrini: Slovakia will not participate in a new round of 70 billion euros aid plan for Ukraine, nor will it provide weapons to Ukraine or fund its further arming.

Falling oil prices usually mean the price consumers pay for fuel also falls... but that's not necessarily the case this time. There is a risk that market models are too reliant on crude oil price trends, leading to widespread expectations that consumers and businesses will usher in lower energy costs. However, if you’ve paid attention to gas stations lately, you’ll find that’s not the case. A huge spread has emerged between the price of refined products and crude oil, even prompting Trump to threaten action against oil companies. But the problem is not the oil companies; Rather, the refineries lack adequate supplies of crude oil. The real problem lies in the "crack spread". The crack spread reflects a refinery's profit margin after processing crude oil into fuel. "Cracking" refers to the refining process of breaking down heavy hydrocarbon molecules into lighter oils. The most common "3-2-1 crack spread" assumes that a refinery purchases 3 barrels of crude oil to produce 2 barrels of gasoline and 1 barrel of distillate (such as diesel or heating oil). Currently, the 3-2-1 crack spread has surged to a record high of $65 per barrel. This means, Refineries can purchase crude oil at a spot price of US$71 per barrel and process it into refined oil products such as gasoline and diesel worth approximately US$136. This situation is likely because refineries cautiously replenished inventories during the war, or were unable to operate normally due to the conflict, especially in the Strait of Hormuz region, where more than 10% of the world's refined oil products are refined. "The upshot is that it is global supplies of refined products that are really tightening, not crude oil itself," National Bank of Canada wrote in its latest report. "As a result, consumers may see only a limited pullback in fuel prices in the short term. In the meantime, Diesel prices remain high and transportation costs remain high, which will also continue to put upward pressure on the prices of other consumer goods. "

The Yemeni Foreign Ministry reiterated that Yemen will continue to support Iran in the face of continued aggression by the United States and Israel.

An analyst said that as the mid-term elections for the U.S. Congress in November approach, time is becoming increasingly unfavorable for President Trump. Currently, the United States is locked in a costly and unpopular war with Iran. Wolfgang Pustel, a former Austrian defense attaché, said: "President Trump is very clear that the negotiations he originally hoped to start based on this memorandum of understanding have not succeeded." He said: "Iran has resumed work related to its nuclear program and continues to attack passing ships in the Strait of Hormuz. Therefore, Trump has nothing to deliver to American voters. "If Trump makes concessions to Iran now, the situation may be even worse for him, and the Republican Party will pay the price in the mid-term elections," Pustai added. "

U.S. Ambassador to NATO Whitaker: Turkey's F-35 fighter jet deal will be completed if legal conditions are met.

According to Iranian media Fars News: Iran’s Revolutionary Guards previously targeted U.S. rocket launch systems during a drone operation in Kuwait.

Military and diplomatic analyst Alexandru Hudistianou said that the current struggle between the United States and Iran over the Strait of Hormuz is "not new", but there is a serious risk of further escalation. Although Iran has long interfered with maritime traffic in the Strait of Hormuz "tit for tat" and tried to exert influence on it, Hudistianou believes that the US-Israeli attack on Iran in February provided "Iran with excellent conditions to control the Strait of Hormuz. Iran is trying to use it as a power tool to impose pressure. It declares to the outside world that it has near-absolute control of the strait."He pointed out that the U.S. Navy is countering Iran's strategy and has successfully escorted many ships to pass safely through the southern side of the Strait of Hormuz, the so-called Oman route, and has responded to Iran's attacks on merchant ships. Iran launched widespread strikes along the coast in response. "However, it is clear that the current situation is unlikely to continue," Hudistianou added. "In my estimation, we are probably in one of the highest risk periods in the two or three months since the actual ceasefire in April. This escalating tough stance by both sides in pursuit of the best interests may tilt the situation toward a more active conflict stage, which has not yet stopped. "

Market news: EU ambassadors once again failed to agree on a new Russia sanctions package.

According to Iran's Mahr News Agency: Preliminary news said that Iran launched an attack on the US missile launch base in Kuwait.

Market news: British Prime Minister-elect Andy Burnham plans to expand the size of the autumn budget. British officials are considering unveiling a budget in October.

U.S. military: The Strait of Hormuz is open to all vessels seeking legal passage through the international waterway. U.S. forces are positioned and ready to ensure freedom of navigation is maintained.

According to a Wall Street Journal survey, the probability of a U.S. recession has dropped to 25%, down from 33% in April.

According to a Wall Street Journal survey: Economists expect U.S. consumer price index (CPI) inflation to be 3.4% this year, higher than the 3.2% survey in April.

President Trump: Senator Lindsey Graham, one of the greatest men and senators I have ever known, has passed away! He was always hardworking and a true American patriot. Lindsay will be deeply missed! ! ! More details and arrangements will be announced later. So sad!