Bank of America boosts dividend 14% to $0.32 as buybacks continue

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Jul 24 2026, 14:53

Iran blames US policy for deadlock as oil tops $100 a barrel

Iran's top diplomat blamed Washington's policies for the collapse of ceasefire talks, as Brent crude surged past $100 a barrel and bond yields climbed on renewed Middle East hostilities. "There is no shortage of mediators between the US and Iran — the problem lies with the policies and actions of the United States itself," Foreign Minister Abbas Araghchi said in an interview Thursday, according to state media. The comments came as Brent crude topped $100 a barrel for the first time since May, while the 10-year US Treasury yield breached 4.7 percent, its highest level this year. The average 30-year fixed mortgage rate rose to 6.58 percent, the highest since August, Freddie Mac data show. The diplomatic impasse threatens to prolong a conflict that has already cost the US $37.5 billion, according to Defense Secretary Pete Hegseth, and killed at least 18 American service members. With the Strait of Hormuz — which carried one-fifth of global oil shipments before the war — effectively closed and Iran-backed Houthis now targeting Saudi tankers in the Red Sea, the risk premium embedded in energy prices shows no sign of dissipating. **Oil at $100 and the inflation feedback loop** The resumption of US-Iran hostilities after a brief ceasefire collapsed in June has reignited inflation concerns across bond markets. The June consumer price index report had shown tame inflation, partly because the earlier truce had cooled oil prices. But the renewed conflict is driving a reassessment. "Barring a near-term pullback in hostilities from both the US and Iran, oil prices may stay higher for longer, renewing inflation concerns and sustaining the pressure on bond yields," wrote John Canavan, lead analyst at Oxford Economics. The bond market is "once again beholden to geopolitical headlines and the real-time fluctuations in oil," said Vail Hartman, a US rates strategist at BMO Capital Markets. Markets are "clearly viewing the June CPI report as a one-off that is unlikely to be repeated," Hartman added. The Federal Reserve's July 28-29 meeting now carries heightened significance. While most analysts expect the central bank to hold short-term rates unchanged, an inflation rebound makes rate hikes more likely. "An elevated pace of core inflation during July and August would provide sufficient justification for a rate hike on Sept. 16," Hartman said. **Escalation across two strategic waterways** The conflict has spread beyond the Strait of Hormuz. Iran-backed Houthi forces in Yemen struck two Saudi oil tankers in the Red Sea this week, announcing a naval blockade of Saudi ships through the Bab al Mandeb strait — the only southbound route for Saudi crude headed to Asian markets. Saudi Arabia had diverted about 4.5 million barrels per day of exports to its Red Sea ports after Iran choked the Persian Gulf route. The Houthis' military spokesman, Yahya al-Sarea, said the group forced 10 other ships to turn back and would "continue imposing the equation of blockade against blockade." President Donald Trump responded by threatening to hold Iran responsible and inflict "major military punishment" on the Houthis and Tehran. The last time the US faced a comparable disruption across two major oil chokepoints was during the 2019 Abqaiq-Khurais attacks, which knocked out 5.7 million barrels per day of Saudi production and sent crude prices spiking 15 percent in a single session. The current situation is more protracted, with no ceasefire framework in place after the June agreement collapsed. **Global travel warnings and diplomatic fallout** The State Department issued a worldwide caution for Americans abroad, citing "the potential for unforeseen escalation" and noting that groups supportive of Iran may target US interests globally. Saudi Arabia remains under a Level 3 travel advisory — one step below "do not travel" — after the Houthis fired a ballistic missile at the kingdom's airport. Iran has also suspended its commitments to a recent memorandum of understanding with the US, Deputy Foreign Minister Kazem Gharibabadi said Saturday, accusing Washington of violating the agreement. The diplomatic breakdown comes as Secretary of State Marco Rubio met with Lebanese President Joseph Aoun, who is scheduled to visit the White House on July 21 to discuss a framework agreement between Israel and Lebanon. This article is for informational purposes only and does not constitute investment advice.

Jul 24 2026, 14:50

Silver's record crash from all-time high puts $100 target in doubt

Silver has experienced one of the most extreme price swings in its history during the first half of 2026, surging to an all-time record high before collapsing in a crash that has put the metal's $100 price target under serious scrutiny. "The magnitude of silver's correction reflects a broader repricing of precious metals as macro conditions shifted," said Omar Tariq, commodities analyst at Edgen. "The question is whether the fundamental drivers that pushed silver to its record remain intact." The metal's rally to a record was fueled by a convergence of factors: strong industrial demand from solar manufacturing and electronics, supply constraints across major mining regions, and silver's dual role as both an industrial commodity and a monetary hedge. The subsequent crash erased a substantial portion of those gains, driven by shifting macro sentiment and profit-taking across the precious metals complex. At the heart of the mid-year debate is whether silver can reclaim its upward trajectory and approach the $100 level that bulls have targeted. A recovery of that magnitude would require a sustained rebound in industrial offtake, particularly from China's solar panel sector, which has been the largest single driver of silver demand in recent years. Supply-side dynamics also matter — mine production has struggled to keep pace with consumption, creating a structural deficit that could support prices if demand holds. **The $100 question** The $100 target, once seen as a ceiling for the current cycle, now represents a recovery of more than 100% from post-crash levels. Achieving it would require silver to outperform gold significantly, reversing the gold-to-silver ratio that widened during the selloff. Historical precedent offers some support: silver has staged recoveries of similar magnitude after previous corrections, most notably in 2020 and 2011. **Supply and demand fundamentals** On the supply side, global silver mine output has been constrained by declining ore grades at primary silver mines and reduced by-product output from copper and lead-zinc operations. The structural deficit — where annual consumption exceeds mine production — has persisted for several consecutive years, drawing down above-ground inventories. Industrial demand, which accounts for more than half of total silver consumption, has grown at a compound annual rate of about 7% since 2020, driven by photovoltaic manufacturing and electronics. The second half of 2026 will be decisive. Key catalysts include the pace of China's solar installation targets, the trajectory of US interest rates, and whether industrial recession fears that contributed to the crash materialize or recede. For silver to approach $100, all three would need to align favorably. *This article is for informational purposes only and does not constitute investment advice.*

Jul 24 2026, 14:44

U.S. sanctions 13 Iranian-linked targets as pressure campaign intensifies

**The Treasury Department's latest designations bring the financial campaign against Iran to 13 new targets spanning Turkey and the UAE.** The U.S. Treasury imposed sanctions on four individuals and nine entities linked to Iran on July 24, targeting networks in Turkey and the UAE as the administration widens its "Economic Fury" campaign. "The Trump administration will relentlessly pursue terrorists, and those who finance them," Treasury Secretary Scott Bessent said in a statement. "Whether operating under the guise of charities, businesses, or underground financial networks, those who enable Iran will be exposed, sanctioned, and held accountable." The designations include one firm based in Turkey and two based in the UAE, according to the Treasury. The action follows a separate round of sanctions on July 23 that targeted front organizations moving funds for the Muslim Brotherhood and Hamas, including UK-based Egyptian official Mahmoud al-Abyari and three other individuals and three entities, State Department Spokesman Tommy Pigott said. The latest sanctions add to a strategy that has pushed oil above $100 a barrel and sent Iran's currency to a record low against the dollar, with inflation estimated at more than 180 percent, Bessent said. The Treasury is also tracing more than $100 million in properties linked to Iran's supreme leader, with plans to publicly disclose the assets and their addresses. The July 24 designations are the latest in a series of escalating financial measures that have accompanied U.S. military operations against Iranian targets over the past 12 days. President Donald Trump said Thursday that Iranian money under U.S. control should be used to pay for any future damage to ships and cargo, warning of "major military punishment" if Houthi attacks on commercial vessels continue. The Strait of Hormuz handles about 21 percent of global oil trade, and the conflict has disrupted maritime traffic through the waterway. The U.S. Central Command said it redirected 12 commercial vessels and disabled one to stop ships from entering or leaving Iranian ports since resuming a naval blockade nine days ago. The Treasury's broader financial strategy includes tracing assets worldwide, freezing accounts, and restricting access to funding. Bessent said Chinese purchases of Iranian crude had fallen by roughly 40 percent in recent months, targeting a key revenue stream for Tehran. The administration has also warned financial institutions in China, Hong Kong, the UAE, and Oman that they could face secondary sanctions for handling Iranian money. The last time the U.S. imposed sanctions of this scope against Iranian financial networks was in 2019, when the Trump administration designated the Islamic Revolutionary Guard Corps as a foreign terrorist organization, sending Brent crude up 2 percent within a week and widening credit default swaps on regional sovereign debt. This article is for informational purposes only and does not constitute investment advice.