climb

Published on 13/07/2026 – 6:56 GMT+2•Updated
6:59

The price of Brent crude, the international benchmark, gained 3.9% to $78.96 per barrel, while the US benchmark crude oil price rose 4% to $74.26 per barrel.

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Prices for both types of crude oil had recently slipped back to the levels seen before the war with Iran began, after the two sides reached an interim agreement to end the conflict and ships resumed transporting oil through the Strait of Hormuz.

However, the United States launched several waves of strikes on Iran early on Monday morning following an Iranian attack on a container ship in the Strait of Hormuz that set the vessel ablaze and left one crew member missing over the weekend. Iran retaliated by targeting countries across the Middle East.

US stock futures fell, with the contract for the S&P 500 down 0.4% and that for the Dow Jones Industrial Average 0.3% lower. Nasdaq Composite futures lost 1%.

In Asian trading, Tokyo’s Nikkei 225 index lost 1.1% to 67,786.86, while in Seoul, the Kospi declined 5.6% to 7,060.69.

Shares in South Korean memory chipmaker SK Hynix, which soared 13% on their Wall Street debut on Friday, slumped 10.6% in Seoul. Its bigger rival, Samsung Electronics, fell 6.7%.

Elsewhere in Asia, Hong Kong’s Hang Seng edged 0.1% higher to 24,202.41, and the Shanghai Composite index shed 1.2% to 3,947.34.

In Australia, the S&P/ASX 200 declined 0.3% to 8,777.00.

US stocks ticked higher on Friday after investors showed sustained appetite for winners of the artificial intelligence (AI) boom. The S&P 500 rose 0.4% and the Dow Jones Industrial Average added 0.3%. The Nasdaq Composite climbed 0.3%.

SK Hynix’s shares jumped after trading began at midday after it raised roughly $26.5 billion by selling American depositary shares at a price of $149 each.

SK Hynix’s stock in Seoul had already surged more than 600% over the past year thanks to enthusiasm for AI. The boom has translated into real profits, driven by soaring demand for computer memory. But it has also raised concerns that AI stock prices have climbed too high and that the world’s spending on chips and data centres will not generate enough productivity and profit growth to justify the investment.

That has led to sharp swings in AI stocks, which have become some of Wall Street’s most influential because of their enormous market values.

Nvidia was the single biggest force lifting the S&P 500 on Friday, rising 4%.

Beyond the uncertainty surrounding AI, investors are turning their attention to the upcoming corporate earnings season.

Companies across industries will need to deliver strong profit growth to justify their elevated share prices, which remain close to record highs. This week will bring earnings reports from many of the biggest US banks, including Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs and Wells Fargo, with several reporting on Tuesday alone.

Concerns about how the continued fighting with Iran will affect the global flow of crude oil are clouding the outlook for both energy costs and overall inflation.

High bond yields have been weighing on financial markets worldwide because more expensive oil and persistently high inflation could prompt the Federal Reserve and other central banks to raise interest rates.

Higher interest rates can help keep inflation under control, but they also slow economic growth and weigh on the prices of all kinds of investments.

Additional sources • AP

Brent crude rises after cargo ship comes under attack in key waterway.

Oil prices have jumped after the United Nations maritime agency called off its planned evacuation of ships stranded around the Strait of Hormuz following an attack on a cargo vessel in the waterway.

Brent crude, the international benchmark, rose as much as 4 percent on Thursday after the International Maritime Organization paused its evacuation plan amid renewed violence in the strait.

Brent futures for August delivery stood at $74.89 per barrel as of 02:00 GMT, after earlier dropping below $72.48, their closing price the day before the United States and Israel launched their war on Iran.

After dropping sharply following the US and Iran’s signing of a memorandum of understanding on ending the war last week, the price of Brent currently stands at about 3 percent above its pre-war level.

Asian markets opened lower on Friday, with key indices in Japan, South Korea, Hong Kong and Taiwan seeing steep losses.

Tokyo’s Nikkei 225 and Seoul’s Kospi both fell more than 3 percent in morning trading, while the Taiex dropped about 1 percent.

In Hong Kong, the Hang Seng Index was down about 1 percent.

The latest attack in the strait, through which about one-fifth of global oil and liquified natural gas supplies transit in peacetime, dealt a blow to hopes for a return to normal shipping in the region after a recent resurgence in traffic.

On Wednesday, 70 vessels transited the waterway, a more than twofold increase from the previous day and the highest daily figure since March 1, according to ship tracking platforms MarineTraffic and Kpler.

The United Kingdom Maritime Trade Operations (UKMTO) centre said on Thursday that a cargo vessel reported being struck by an “unknown projectile” on its starboard side while attempting to cross the strait near the Omani coast.

Multiple media outlets, including The New York Times, CBS News and the Reuters news agency, cited unnamed US officials as saying the attack had been carried out by Iran.

Iran’s Persian Gulf Strait Authority, which claims the right to regulate shipping in the strait, said after the attack that any vessel attempting to use routes outside its designated “framework” would not be guaranteed safe passage.

“The consequences arising from passage through unauthorized routes shall be the responsibility of the owner, operator, and vessel commander,” the authority said on X.

June Goh, a senior oil market analyst at Sparta in Singapore, said the attack was a reminder to markets of the fragility of peace in the strait amid the tenuous US-Iran ceasefire.

“There is a pressing need for tankers to enter and offload the high crude stocks from onshore tanks in order for normal production to resume again,” Goh told Al Jazeera.

“Thus, security of the passageway is paramount to recover the lost supply.”

WARNER, N.H. — For Rahm Emanuel, the road to the White House runs through the uphill climbs of rural New Hampshire.

The onetime Democratic congressman, White House chief of staff, Chicago mayor and U.S. ambassador to Japan hasn’t formally announced his ambition to return to power in Washington. But his weekend trip through the state that typically holds the first presidential primary was hardly subtle.

There were the union hall visits and intimate house parties, staples of New Hampshire political rituals. At one event in the backyard of a handsome home in Concord, Emanuel greeted voters and practiced a stump speech that highlighted strains on the middle class and the excesses of the tax system.

And then there was the bike tour.

Over the course of three days, Emanuel pedaled more than 117 miles across New Hampshire from Portsmouth on the coast to Hanover on the Vermont border in what he dubbed the “Spin-Free Tour,” a nod to his blunt demeanor that he sees as an asset for a Democratic Party trying to move beyond its devastating losses in 2024.

“Tough times require a tough leader,” Emanuel told the Associated Press during a break at a coffee shop in Warner. “I don’t think this is just about learning the words to ‘Kumbaya.’”

For someone who has spent the better part of three decades in the highest orbits of political power, the 66-year-old Emanuel is in the unusual position of lacking a natural platform. His likely rivals in a Democratic presidential contest are mostly younger and, as governors, senators or a recently departed vice president, can more easily attract attention.

And despite his thick resume, Emanuel isn’t especially well known outside political circles, as demonstrated by a woman who asked who he was after he left the coffee shop. When informed that it was Emanuel and that he was considering a campaign, she responded, “A campaign for what?”

How Emanuel taps into tenacity to overcome hurdles

Emanuel is tapping into his hard-wired tenacity in hopes of overcoming such challenges.

As many prominent Democrats focus on castigating President Trump, Emanuel has released a flurry of policy proposals addressing everything from social media bans for children to prediction markets and a mandatory retirement age of 75 for those in public office. That would prevent him from seeking a second term if he were elected.

Emanuel is often on the road, talking education in Mississippi and Michigan. He’ll travel to Israel next month to address the U.S.-Israeli relationship as the war in Gaza has spurred new divisions in both political parties, especially among younger voters.

He is a regular guest on podcasts ranging from those hosted by Katie Couric and Kara Swisher to shows focused on fly fishing. He often uses the appearances to knock his own party for overreaching in cultural debates, particularly those involving the rights of transgender people. It’s a message of centrism that has echoes of that of the first president he served, Bill Clinton.

“We did things that were really ridiculous,” he said of Democrats on an episode of Couric’s podcast that posted last week. “Rather than worry about classroom excellence, we were worried about bathroom and locker room access.”

And he hops on the bike.

The tour gives him a chance to both demonstrate his physical fitness at a time of heightened awareness of the nation’s aging political leaders and to introduce himself to the state’s notoriously picky voters before the rest of the field swoops in after the November midterms.

“It is early,” said Rep. Maggie Goodlander, D-N.H., who appeared alongside Emanuel at the Concord house party. “But what I’d say is the people in New Hampshire know how to vet candidates and they’re the most engaged electorate in the country.”

Martha Kruse, a 76-year-old retired special education teacher from Laconia, New Hampshire, is just that type of voter. Active in her local Democratic Party, she traveled to the Concord event to see Emanuel after hearing him in interviews.

“I’m going away really enthused about him,” she said, adding that he was “right on” to prepare a campaign so early.

Riding through the hills of rural New Hampshire

The future of the presidency seemed a world away during a hilly 20-mile stretch of the ride on Saturday, which included an elevation gain of more than 1,300 feet. Along with a cadre of friends and aides, Emanuel cycled past homes where residents were tending to their yards or celebrating a recent graduation on their front patio. He was chatty at times as he rode with the pack and cycled alone at other points, showing little strain in navigating the steep hills.

With summer finally creeping into New England, the humidity was high and the rain was occasionally intense. The group stopped for water and snacks every 10 to 15 miles, huddling under a barn during one rainy stretch. A small group of local activists met up with Emanuel at the coffee shop in Warner, where he held court from a rocking chair.

But the realities of modern politics occasionally asserted themselves. The group cycled past signs praising Trump and denigrating his predecessor, Joe Biden. As the miles dragged on, a chase vehicle crept by periodically with cameras poking out the window to capture scenes that could later be shared on social media, where Emanuel now has an almost daily presence.

And the whir of the midterms wasn’t far away. In neighboring Maine, Graham Platner was contending with a drumbeat of reports about his history with women that has left some Democrats worried that the party’s path to a Senate majority is suddenly imperiled. Emanuel, who helped power Democrats to their sweeping 2006 victories in the U.S. House, said the “jury is still out” on whether Platner can win the Senate race.

“Everybody is holding their breath whether this is the start of something or the end of something,” he said.

Emanuel hopes voices of moderation are prevailing

But as the broader debate over the Democratic Party’s ideological future unfolds, Emanuel said he thought voices of moderation were prevailing. He noted recent wins by Rebecca Bennett, who emerged from a crowded Democratic primary in New Jersey with the nomination for a competitive House seat, along with Josh Turek, the new Democratic Senate nominee in Iowa.

“There’s a bigger character piece to this than ideological,” Emanuel said. “There’s radical moderates and their profile and character speak to kind of fighting a system, which is what’s needed right now.”

The bike tour was certainly not John McCain’s “Straight Talk Express,” the 2000 campaign bus from which the Arizona Republican senator opined on any question that came his way to seize attention and mount a surprise New Hampshire win over front-runner George W. Bush. But some voters said they were open to Emanuel.

Don Daley, a 60-year-old state employee from Concord, watched Emanuel talk from a bench in the backyard of the house party. He said that Emanuel probably “steps on a few toes.”

“But I think that’s what we need right now,” he said. “Some of our Democratic leaders haven’t been strong enough.”

Sloan writes for the Associated Press.

Published on 01/06/2026 – 7:06 GMT+2•Updated
7:10

Crude prices climbed in early Asian trading on Monday after Israeli troops pushed further into Lebanon over the weekend, fuelling investor fears that the broader Middle East conflict could escalate rather than move towards a peace deal.

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At the time of writing, West Texas Intermediate (WTI) crude was up 2.88% at $89.88 per barrel, while Brent crude rose 2.43% to $93.33 per barrel.

The Israeli advance has taken place despite a nominal ceasefire in place since 17 April and just days before the next round of direct talks between Lebanon and Israel, scheduled at the State Department on 2 and 3 June.

Asia-Pacific markets mixed

In other early trade dealings on Monday morning, Asia-Pacific markets were mixed with South Korea’s Kospi climbing 1.31%, while Japan’s Nikkei 225 edged up 0.17%. The broader Topix index, however, slipped 0.3%.

Australia’s S&P/ASX 200 fell 0.21%, while Hong Kong’s Hang Seng Index gained 0.73%. Mainland China’s CSI 300 dipped 0.32%.

Tokyo-listed shares in SoftBank Group, meanwhile, surged 5% after the Japanese conglomerate unveiled plans to invest €45 billion over the next five years to develop artificial intelligence infrastructure in France.

Wall Street pushes into record books

In the US, stock futures were flat after Wall Street pushed further into the record books on Friday. The major indexes extended the market’s recent winning streak and closed out a solid month of gains.

The S&P 500 rose 0.2%, notching its seventh consecutive gain and ninth straight winning week — the longest such streak since 2023. The benchmark index set an all-time high for the fourth day in a row.

The Dow Jones Industrial Average gained 0.7% and the Nasdaq composite added 0.2%. The Dow and Nasdaq also reached new heights after posting record highs earlier last week.

Big technology stocks have been behind much of the market’s record-breaking streak. Their pricey stock values give them more influence in directing the market higher or lower. In May alone, technology stocks within the S&P 500 rose more than 15%, while most of the sectors in the benchmark index actually lost ground.

“The rally has been largely tech-led and supported by resilient earnings, but the key question is whether it can be sustained,” wrote Angelo Kourkafas, senior global strategist at Edward Jones, in a research note.

Tech stocks also powered the market higher Friday. Microsoft rose 5.4% and Broadcom gained 4.7%.

Additional sources • AP