Welcome to Markets Desk, your midday read on what's moving markets.
Washington escalated its pressure on Tehran today, revoking the sanctions waiver that had permitted Iranian oil sales following a series of tanker strikes in the Strait of Hormuz, with Qatari and Saudi vessels among the targets near the Omani coast. The move tightens global supply optics considerably and sent ripples across energy markets.
Those ripples were already forming before the waiver news broke. August Nymex natural gas settled up roughly six-tenths of a percent Tuesday, drawing carryover support from European nat-gas prices climbing to a three-week high. The catalyst there was the same Qatari LNG carrier attack in the Strait, raising fresh questions about whether European buyers can reliably source replacement supply.
Shifting to equities, Netflix sits roughly forty-two percent below its all-time high heading into second-quarter earnings due July sixteenth. The pullback is steep enough that some value-oriented investors are weighing entry, though the key question remains whether subscriber growth and advertising revenue can deliver a catalyst sharp enough to reverse that momentum deficit ahead of the print.
That's the tape. Markets Desk, signing off the floor.
