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Monday Jul 20 2026 07:28
1 min
Today's Market Movers
Oil: Brent Breaks $90 as the US-Iran Conflict Deepens
Brent crude surged past $90 a barrel for the first time since mid-June, up 3% in early Asian trade after extending last week's near-16% gain — its biggest weekly advance since April. US forces have entered a ninth consecutive night of strikes on Iran, with a third American service member confirmed killed, while Iranian attacks spread to Kuwait and Bahrain, leaving the ceasefire in ruins. The Strait of Hormuz is nearly at a standstill: just four vessels transited on Sunday, and Saudi Arabia is rerouting the bulk of its crude exports through the Red Sea. With inventories tightening, markets are weighing how far the risk premium can run.
Chips: SK Chief Flags a Widening AI Memory Gap
SK Group Chairman Chey Tae-won said customers are asking for 60–100% more AI memory in 2027 than this year, with total semiconductor demand set to grow at least 50–60% — while next year's supply will barely increase at all. Calling rapid capacity expansion the "lifeline" of Korea's chip industry, he said SK Hynix will look worldwide, including the US, for the fastest places to build. Notably, Chey also described current memory prices as "abnormal," warning that sustained high prices would invite new competitors — his case is for expanding supply to normalize prices, not for prices rising further.
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