Published July 29, 03:29 UTC · Reuters
Reuters reported that U.S. and Saudi forces hit Iran-backed groups in eastern Iraq after drone attacks on Saudi oil facilities, while Iran’s Revolutionary Guards said they had struck three oil tankers in the Strait of Hormuz. Iraq warned of a “major miscalculation,” and oil rose by more than $3 a barrel.
Why it matters: the conflict is now spreading through the infrastructure of the global energy system: tankers, pipelines, bases, militia networks and air defenses. Even limited attacks around Hormuz can reprice inflation, central-bank decisions and political risk far beyond the Middle East.
Source: Reuters
Published July 29, 10:16 UTC · Reuters
U.S. equity futures were mixed ahead of the Federal Reserve decision, with traders seeing about a 35% chance of a rate hike. Reuters noted that crude rose 3.3% to $86.80, chip stocks wobbled, and investors were questioning whether the AI spending boom is sustainable as Big Tech earnings approach.
Why it matters: the same economy is absorbing two capital shocks at once: geopolitical energy volatility and hundreds of billions in AI infrastructure spending. That makes the Fed’s inflation problem less like a normal cycle and more like a test of whether markets have over-capitalized a technology transition before productivity gains arrive.
Source: Reuters
Published July 29, 10:06 UTC · Reuters
Reuters verified footage from a California-made Seasats autonomous vessel showing a Chinese Type 052D guided-missile destroyer inside the Philippines’ exclusive economic zone. The drone filmed the ship northwest of Luzon, demonstrating that cheap unmanned surface vessels can approach billion-dollar warships.
Why it matters: Ukraine showed how drones can change land and air warfare; the South China Sea is becoming the maritime version. Low-cost autonomous vessels make surveillance, harassment and potential attacks cheaper, complicating deterrence in one of the world’s most contested waterways.
Source: Reuters
Published July 29, 09:01 UTC · Reuters
Using the European Southern Observatory’s Very Large Telescope in Chile, researchers directly observed a companion star orbiting Betelgeuse, the red supergiant in Orion. The discovery confirms the famous star is part of a binary system roughly 500 to 600 light-years away.
Why it matters: Betelgeuse is a benchmark object for understanding how massive stars die. A companion changes the model: interactions between the two stars could delay or accelerate the eventual supernova, reminding us that even familiar cosmic objects can hide basic facts until instruments improve.
Source: Reuters