- Iraq to triple crude exports through Kurdistan-Turkey pipeline network to 770,000 barrels per day
- UAE to double Abu Dhabi National Oil Company's export capacity with new West-East pipeline to Fujairah
- Combined alternative capacity of 3.5-5.5 million barrels per day, but still short of pre-war levels
2026-06-09
Energy/Oil 2
- U.S. crude futures fell 3.4% to $88.20 per barrel.
- Brent futures dropped 2.97% to $91.45 per barrel.
- Energy Secretary said ship traffic through the Strait of Hormuz is rising markedly, without providing data.
- JPMorgan estimates up to 2 million barrels per day may be moving through Hormuz on vessels with transponders off.
Central Banks 1
- Fed will publish 2026 bank stress test results on June 24 at 4 p.m. EDT
- The test evaluated 32 large U.S. banks under a severe global recession scenario
- Capital buffer requirements will stay unchanged through 2027 per February announcement
- Results are not expected to alter banks' capital requirements immediately
Macro/Economy 2
- May CPI forecast at 4.2% annual, up from 3.8% in April
- Core CPI projected at 2.9% annual with 0.3% monthly rise
- Headline inflation driven by higher energy costs linked to Iran war
- Monthly CPI gain anticipated at 0.5% for May
- Foreign investors sold $29.5 billion worth of Indian equities this year, a record exodus.
- India's economy faces headwinds from weaker consumption, fragile investment sentiment, and higher energy costs.
- The country's net foreign direct investment (FDI) has reached a 'near all-time low'.