U.S. stocks rose for a third day as investors awaited the start of second-quarter earnings season and euro-area finance ministers approved aid for Greece. European equities recovered from a July 5 slide, while shares and currencies in Asia declined.
Oil prices fall as U.S. oil supply rises to a record for as long as the Energy Information Administration has been keeping records. You have to go back almost 70 years to find a time when energy supplies were this high at this time of year.
It is obvious that the simmering tensions in the Strait of Hormuz are starting to boil over. Yesterday a report that a US ship fired on a boat just outside of the Strait, sent Brent and WTI up to a new high for the session.