13/06/2026
Weekly digest: Stock markets wobble as gold and oil continue to slide
1 🔥 US inflation continues climb. The latest consumer price index report released Wednesday showed US inflation outpaced wages for a second straight month as the Iran war pushed energy prices up. The CPI rose 4.2% from a year earlier, the biggest hike since early 2023. (Bloomberg)
2 🥇 Gold Takes Another Hit. Gold slipped to $4,202/oz on Friday, down 6.63% over the week, as renewed US-Iran clashes rattled a fragile Middle East truce, leaving its value about a fifth below where it was trading pre-war.
3 📊 Wall Street wobbles. Wall Street lost momentum midweek, as renewed US-Iran tensions drove up volatility, dragging the S&P 500 and Nasdaq lower. A tech sell-off, inflation worries and anticipation around SpaceX’s IPO overshadowed gains in value stocks and the Dow. (Reuters)
4 🛢️ Crude premiums in retreat. Physical oil markets have cooled, with Dated Brent dropping to near $98 a barrel. This despite ongoing supply disruptions, though shrinking inventories may yet threaten renewed price pressure. (Bloomberg)
5 💵 Dollar holds firm. The dollar steadied this week, as investors balanced renewed US-Iran hostilities against expectations for US inflation data that could shape Federal Reserve policy. (Reuters)
6 🏦 Record government borrowing. Governments have borrowed a record $504 billion from syndicated bond markets so far this year, driven by increased spending on defence and protecting consumers from price shocks. Demand is particularly high for shorter maturities, despite uncertainty over interest rates. (Bloomberg)
7 🚢 Suez sees benefits. Oil tanker traffic through Egypt’s Suez Canal jumped 28% in April, lifting revenue to its highest level since early 2024, as the Strait of Hormuz closure redirected energy shipments via the Red Sea despite ongoing regional security risks. (Bloomberg)
8 🕊️ Peace deal imminent? President Trump has said a peace deal between Iran and the US could be signed as early as this weekend, with the Strait of Hormuz reopening immediately afterwards. Tehran meanwhile has “not reached a final conclusion” amid a tense week of further attacks. (Reuters)