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On September 6th, U.S. Energy Secretary Frank Wright stated on Sunday that U.S. Navy escort ships are assisting oil tankers through the Strait of Hormuz, which is crucial for maintaining crude oil transport in the waterway, and hinted that the escort operation will not end anytime soon. Wright stated, "We are ensuring a large number of ships pass through, but this certainly requires the involvement of the U.S. military. Iran is still causing trouble, but the U.S. Navy is winning this battle." Wright claimed that more than 9 million barrels of oil are currently being transported daily through the Strait of Hormuz, and with more crude oil and refined products being transported via pipelines and other means, oil transport in the region has recovered to "two-thirds or more of pre-conflict levels." Last week, Wright stated that approximately 17 million barrels of oil passed through the Strait of Hormuz on Monday. Wright believes that with the end of the summer driving season and adjustments to the governments federal blending policy to increase supply, the price of unleaded gasoline may decline.SpaceX (SPCX.O): Confirmed that 27 Starlink satellites have been deployed in orbit.According to the Lebanese National News Agency, an Israeli drone strike in southern Lebanon has injured several people.Israeli Prime Minister Benjamin Netanyahu: If Iran attacks us, we will suffer unimaginable damage. We are determined to complete the task of overthrowing the Iranian regime.The U.S. National Hurricane Center reports that Karina is expected to weaken into a post-tropical storm tonight.

At market close, Israeli stocks are up; the TA 35 is up 1.09 percent

Aria Thomas

Jul 11, 2022 10:58

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Following Sunday's closing bell, the Biomed, Oil & Gas, and Banking sectors contributed to a surge in Israel's stock market.


At the close of trading in Tel Aviv, the TA 35 rose 1.09 percent.


Maytronics (TASE:MTRN) had the best performance on the TA 35 throughout the session, increasing 3.91 percent or 184.00 points to end at 4,890.00. Bank Hapoalim (TASE:POLI) climbed 2.92 percent, or 87.00 points, to end trading at 3,065.00, while Strauss Group (TASE:STRUS) gained 2.58 percent, or 228.0 points, to 9,050.00.


Bezeq Israeli Telecommunication Corp Ltd (TASE:BEZQ) ended the day with the lowest performance, down 1.88 percent, or 10.20 points, to 532.80. Teva Pharmaceutical Industries Ltd (TASE:TEVA) finished at 2,615.00, down 0.30 percent, or 8.00 points, whilst Shapir Engineering Industry (TASE:SPEN) closed at 2,885.00, down 0.14 percent, or 4.00 points.


On the Tel Aviv Stock Exchange, advancing stocks outnumbered declining ones by a ratio of 346 to 144, with 34 stocks closing unchanged.


The price per barrel of crude oil for delivery in August increased 2.01%, or $2.07, to $104.80. Brent oil for September delivery jumped 2.39 percent, or 2.50 cents, to $107.15 per barrel, while the August Gold Futures contract increased 0.07 percent, or 1.20 cents, to $1,740.90 per troy ounce.


The USD/ILS exchange rate decreased 0.21 percent to 3.46, while the EUR/ILS exchange rate stayed unchanged at 3.53.


US Dollar Index Futures were 0.25 percent down at 106.69.