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Futures Hit Record High As Oil Tumbles After Bessent Says Hormuz May "Reopen Tomorrow"

S&P futures are trading at all time high with the latest push higher triggered by comments from Scott Bessent on CNBC who echoed Trump in saying that "we may have Iran deal tomorrow to open Hormuz" (or we may not). The Nasdaq also looks set to extend Monday’s gains: As of 8:00am ET, S&P futures are up 0.4% to an all…

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Saudi Aramco Profit Soars As CEO Warns Hormuz Closure Removes 100 Million Barrels A Week

Saudi Aramco, the world's largest oil producer by volume, reported a 33% jump in second-quarter profits on Tuesday as the war-driven surge in Brent crude, which averaged $97 a barrel, boosted earnings. The company maintained export flows by redirecting crude around the disrupted Strait of Hormuz through its East-Wes…

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Tech giant Palantir posts ‘otherworldly’ growth despite criticism over Gaza

United States artificial intelligence and data analytics giant Palantir Technologies has reported “otherworldly” quarterly results, sending its shares more than 14 percent higher in after-hours trading, as its growth shows no signs of slowing despite mounting criticism over its close ties to the US and Israeli gover…

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Iran and Oman discussing plan to split control of Hormuz shipping routes

Iran and Oman are discussing a plan that would give Tehran full control over inbound shipping in the Strait of Hormuz, a senior Iranian source told Reuters. For the outbound route, Oman would clear ships for exit after notifying Iran. The plan would give Iran visibility over outbound traffic in the Strait, with the …

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Jack Letts appeals for repatriations from Iraq in 'out of the blue' phone call to parents

The parents of Jack Letts, a British-born Canadian man who travelled to Islamic State-controlled territory in Syria as a teenager in 2014, have described their shock, relief and frustration after being phoned “out of the blue” by their son from an Iraqi detention centre nine years after they were last able to speak …

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