The Bloomberg Open Interest program from July 13, 2026, focused on significant market movements and geopolitical developments. A major highlight was the chip selloff, which intensified after SK Hynix's US debut, creating volatility in tech stocks and causing a "tech speed bump" for markets. Investors were also bracing for upcoming bank earnings and critical inflation data.
Oil prices surged, with Brent crude futures climbing 3.89% to reach $86.54 and U.S. West Texas Intermediate futures soaring 2.83% to $80.35 per barrel, after fresh strikes and President Trump's announcement to impose a 20% toll charge on all cargo shipped through the Strait of Hormuz. These actions, including the reinstatement of a blockade on Iranian ports, raised concerns about disruptions to global crude supplies and materially increased the risk of further military escalation, according to Citi.
The program also delved into the escalating tensions between the U.S. and Iran in the Strait of Hormuz. This critical waterway, which previously carried about a fifth of the world's oil and liquefied natural gas supplies, saw traffic decline significantly. The U.S. Central Command completed strikes against Iranian military targets, while Iran retaliated by targeting two Emirati oil tankers, killing one Indian crew member and injuring eight, and triggering missile alerts in Bahrain. War risk premiums for the Strait of Hormuz were expected to increase sharply, causing shipowners and charterers to pause decisions to transit.
Additional discussions included interviews with Sunrun CEO Mary Powell on AI hubs, General Fusion CEO Greg Twinney after the company's Nasdaq debut, KBW's Chris McGratty on bank earnings risks, and Lazard's George Bilicic on powering the AI boom. The program also touched upon various high-interest topics, such as a potential Saudi-UAE rift, Shein's Hong Kong IPO, and the sale of the Seattle Seahawks.
