Oil Surge, AI Jitters Weigh on Markets | Open Interest 7/23/2026

ONGOING TRADE TENSIONS COULD GIVE RISE TO FRAGMENTED SUPPLY CHAINS, CURTAIL THE SUPPLY OF CRITICAL RAW MATERIALS, AND WORSEN CAPACITY CONSTRAINTS IN THE EURO AREA ECONOMY. EXTREME WEATHER EVENTS, AS ILLUSTRATED BY THE ONGOING HEAT WAVES AND THE UNFOLDING CLIMATE AND NATURE CRISIS MORE BROADLY COULD DRIVE UP FOOD PRICES BY MORE THAN EXPECTED. BY CONTRAST, INFLATION COULD TURN OUT TO BE LOWER IF THE CONFLICT IN THE MIDDLE EAST WAS RESOLVED SUSTAINABLY, OR IF INDIRECT OR SECOND ROUND OF FACTS PROVED LESS PRONO ...