{"id":64342,"date":"2026-07-07T00:08:19","date_gmt":"2026-07-07T04:08:19","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/strait-of-hormuz-attack-jolts-energy-markets-as-trump-signals-f-35-pivot-for-turkiye\/64342\/"},"modified":"2026-07-07T00:08:19","modified_gmt":"2026-07-07T04:08:19","slug":"strait-of-hormuz-attack-jolts-energy-markets-as-trump-signals-f-35-pivot-for-turkiye","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/strait-of-hormuz-attack-jolts-energy-markets-as-trump-signals-f-35-pivot-for-turkiye\/64342\/","title":{"rendered":"Strait of Hormuz Attack Jolts Energy Markets as Trump Signals F-35 Pivot for T\u00fcrkiye"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/strait-of-hormuz-attack-jolts-energy-markets-as-trump-signals-f-35-pivot-for-turkiye\/64342\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/strait-of-hormuz-attack-jolts-energy-markets-as-trump-signals-f-35-pivot-for-turkiye\/64342\/#Geopolitical_Tensions_Flare_in_Middle_East_and_Pacific\" >Geopolitical Tensions Flare in Middle East and Pacific<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/strait-of-hormuz-attack-jolts-energy-markets-as-trump-signals-f-35-pivot-for-turkiye\/64342\/#Trump_Proposes_Major_Defense_Pivot_for_Turkiye\" >Trump Proposes Major Defense Pivot for T\u00fcrkiye<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/strait-of-hormuz-attack-jolts-energy-markets-as-trump-signals-f-35-pivot-for-turkiye\/64342\/#Corporate_M_A_and_Financial_Shifts\" >Corporate M&amp;A and Financial Shifts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/strait-of-hormuz-attack-jolts-energy-markets-as-trump-signals-f-35-pivot-for-turkiye\/64342\/#Energy_and_Commodities_Market_Update\" >Energy and Commodities Market Update<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/strait-of-hormuz-attack-jolts-energy-markets-as-trump-signals-f-35-pivot-for-turkiye\/64342\/#UK_Economic_Policy_and_Infrastructure\" >UK Economic Policy and Infrastructure<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Iranian forces attacked two commercial vessels<\/strong> in the <strong>Strait of Hormuz<\/strong>, including a <strong>Qatari LNG tanker<\/strong>, threatening a fragile 60-day ceasefire and sending ripples through energy markets.<\/li>\n<li><strong>President Trump is expected to restore T\u00fcrkiye&#39;s access<\/strong> to the <strong>F-35 fighter jet program<\/strong>, a major reversal of the 2019 ban, contingent on the removal of Russian <strong>S-400 systems<\/strong>.<\/li>\n<li><strong>Novartis (<a href=\"\/stock\/NVS\">NVS<\/a>)<\/strong> agreed to a <strong>$1.5 billion acquisition<\/strong> of London-based <strong>Myricx Bio<\/strong> to bolster its oncology pipeline ahead of a looming &quot;patent cliff.&quot;<\/li>\n<li><strong>HSBC (<a href=\"\/stock\/HSBC\">HSBC<\/a>)<\/strong> has reportedly <strong>halted lending to riskier private credit clients<\/strong> following a <strong>$400 million loss<\/strong> linked to a UK mortgage lender&#39;s collapse.<\/li>\n<li><strong>ADNOC Distribution<\/strong> reached a <strong>$1 billion deal<\/strong> to acquire <strong>Shell\u2019s (<a href=\"\/stock\/SHEL\">SHEL<\/a>)<\/strong> South African fuel station network, marking a significant retail expansion in Africa.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Geopolitical_Tensions_Flare_in_Middle_East_and_Pacific\"><\/span>Geopolitical Tensions Flare in Middle East and Pacific<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A <strong>Qatari-owned liquefied natural gas (LNG) tanker<\/strong>, the <em>Al Rekayyat<\/em>, was struck by a projectile in the <strong>Strait of Hormuz<\/strong> early Tuesday. The vessel, managed by <strong>Nakilat<\/strong>, suffered damage to its engine room, igniting a fire but resulting in no casualties. This escalation comes just as indirect <strong>U.S.-Iran talks<\/strong> concluded without a breakthrough, testing the stability of regional energy transit routes where 20% of global LNG typically flows.<\/p>\n<p>In the Pacific, the <strong>Solomon Islands<\/strong> lodged a formal protest against <strong>China<\/strong> following an <strong>intercontinental ballistic missile (ICBM)<\/strong> test. The missile reportedly landed 1,000 km northeast of the islands, prompting <strong>Australian Prime Minister Anthony Albanese<\/strong> to label the move &quot;destabilizing.&quot; The friction coincides with a powerful typhoon tracking toward <strong>Taiwan<\/strong> and southeastern <strong>China<\/strong>, threatening further logistical disruptions in the region.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Trump_Proposes_Major_Defense_Pivot_for_Turkiye\"><\/span>Trump Proposes Major Defense Pivot for T\u00fcrkiye<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>During the <strong>NATO summit in Ankara<\/strong>, President Trump is expected to signal his intent to readmit <strong>T\u00fcrkiye<\/strong> to the <strong>F-35 Lightning II<\/strong> program. The move would reverse a 2019 ban imposed after Ankara purchased Russian <strong>S-400 air defense systems<\/strong>. To bypass <strong>U.S. legal restrictions<\/strong>, options under discussion include transferring the Russian hardware to a third party or rendering it inoperable, though <strong>Congress<\/strong> may still move to block the sale.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_M_A_and_Financial_Shifts\"><\/span>Corporate M&amp;A and Financial Shifts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Novartis (<a href=\"\/stock\/NVS\">NVS<\/a>)<\/strong> is deploying up to <strong>$1.5 billion<\/strong> to acquire <strong>Myricx Bio<\/strong>, an <strong>Imperial College London<\/strong> spinout. The deal includes <strong>$1.1 billion upfront<\/strong> and focuses on a novel &quot;payload&quot; platform for <strong>antibody-drug conjugates (ADCs)<\/strong>. This acquisition is part of a broader trend of pharmaceutical giants seeking external innovation to offset an estimated <strong>$450 billion<\/strong> in revenue at risk from expiring patents over the next decade.<\/p>\n<p>In the banking sector, <strong>HSBC (<a href=\"\/stock\/HSBC\">HSBC<\/a>)<\/strong> has paused a planned <strong>$4 billion<\/strong> push into private credit. The decision follows a <strong>$400 million charge<\/strong> tied to the collapse of <strong>Market Financial Solutions<\/strong>. The bank is reportedly tightening its lending standards as global regulators increase scrutiny of the <strong>$3.5 trillion private credit industry<\/strong> amid concerns over transparency and weakening underwriting.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Energy_and_Commodities_Market_Update\"><\/span>Energy and Commodities Market Update<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>ADNOC Distribution<\/strong> has finalized a <strong>$1 billion enterprise value<\/strong> deal to buy <strong>Shell\u2019s (<a href=\"\/stock\/SHEL\">SHEL<\/a>)<\/strong> 600-station retail network in <strong>South Africa<\/strong>. This gives the UAE giant a <strong>10% share<\/strong> of the South African fuel market. Meanwhile, <strong>Spot <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a><\/strong> fell nearly <strong>1% to $4,123.49\/oz<\/strong>, reflecting shifting investor sentiment as <strong>Japan&#39;s 30-year bond sale<\/strong> saw its highest demand ratio since 2019, with yields averaging <strong>3.996%<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"UK_Economic_Policy_and_Infrastructure\"><\/span>UK Economic Policy and Infrastructure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Likely incoming Prime Minister <strong>Andy Burnham<\/strong> has ruled out splitting the <strong>UK Treasury<\/strong>, despite calls for a &quot;Treasury North&quot; to drive regional growth. Burnham is instead being urged to launch a <strong>\u00a3100 billion tax reform package<\/strong> to stimulate the economy. Simultaneously, <strong>Hong Kong<\/strong> and <strong>China<\/strong> announced plans for a new electronic platform for <strong>bond and forex trading<\/strong> to enhance cross-border capital flows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Iranian forces attacked two commercial vessels in the Strait of Hormuz, including a Qatari LNG tanker, threatening a 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