US PMI Surveys Signal Growth Rebound In Q3, Strongest Among Global Peers, But...

"Dark" Tanker Fleet Shatters Iran's Hormuz Stranglehold As Gulf Oil Exports Top Two-Thirds Of Pre-War Level Brent crude futures initially jumped overnight after The Wall Street Journal reported that President Trump has no interest in reviving the memorandum of understanding (interim peace deal) reached with Iran in June. The war-risk premium in Brent has since faded in New York premarket trading amid mounting developments this week that major Gulf producers, including Kuwait and Qatar, are increasing tanker flows through the Strait of Hormuz. Emerging diplomatic traction between Oman and Iran...

Amazon Prime Day Sales Rise 9% Year Over Year, Topping $26 Billion Americans spent a record $26.4 billion during Amazon's four-day Prime Day sales event, a 9.3% increase from a year earlier, per Adobe Analytics and according to Reuters.  The gains were fueled by heavy promotions across categories including electronics, appliances, clothing, toys, personal care products, and household necessities, as consumers looked to maximize savings amid ongoing cost pressures. Industry analysts said several factors contributed to the stronger spending, including larger tax refunds and early back-to-school purchases, which gave many households extra...

Oil Tumbles As Tehran Pushes Draft Peace Framework While Sidestepping Uranium Question Summary Iran only having 'indirect' US contacts while asserting that enriched uranium is 'off the table' for negotiations: state TV says Tehran has a draft of the initial unofficial framework for MOU with US. IRGC keeping up the rhetoric: warns that Iran would "turn the area from Chabahar to Mahshahr into a graveyard for aggressors" if the ceasefire collapses. CENTCOM: "Clearly the Iranians are trying to hedge their bets here and put more pressure on the US." Iranian president: "The main battleground...