{"id":64387,"date":"2026-07-07T15:38:16","date_gmt":"2026-07-07T19:38:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-revokes-iran-oil-waivers-after-tanker-attacks-teck-resources-secures-400m-strategic-metals-deal\/64387\/"},"modified":"2026-07-07T15:38:16","modified_gmt":"2026-07-07T19:38:16","slug":"us-revokes-iran-oil-waivers-after-tanker-attacks-teck-resources-secures-400m-strategic-metals-deal","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-revokes-iran-oil-waivers-after-tanker-attacks-teck-resources-secures-400m-strategic-metals-deal\/64387\/","title":{"rendered":"US Revokes Iran Oil Waivers After Tanker Attacks; Teck Resources Secures $400M Strategic Metals Deal"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>US Treasury revokes Iranian oil waivers<\/strong> following a series of projectile and drone attacks on commercial tankers in the <strong>Strait of Hormuz<\/strong>, causing <strong>Brent crude<\/strong> to surge over 3% to <strong>$74.16 per barrel<\/strong>.<\/li>\n<li><strong>Teck Resources (<a href=\"\/stock\/TECK\">TECK<\/a>)<\/strong> signed a strategic agreement with the <strong>Canada Growth Fund<\/strong> for a potential <strong>$400 million<\/strong> equity-like investment to expand critical metals production at its <strong>Trail smelter<\/strong>.<\/li>\n<li><strong>US 10-year Treasury yields<\/strong> climbed to a four-week high of <strong>4.533%<\/strong>, driven by rising energy prices and escalating geopolitical tensions in the Middle East.<\/li>\n<li><strong>K2 Airways flight KTA1732<\/strong>, a Boeing 737 cargo plane, is missing off the coast of <strong>Pakistan<\/strong> after reporting a navigation failure; a large-scale sea search is currently underway for the five crew members.<\/li>\n<li>The <strong>Federal Reserve<\/strong> proposed new amendments to <strong>anti-money laundering (AML)<\/strong> requirements, aiming to shift bank compliance toward a more risk-based, effective framework.<\/li>\n<\/ul>\n<h2>Geopolitical Tensions Flare in the Strait of Hormuz<\/h2>\n<p>The <strong>Trump administration<\/strong> moved to reimpose strict economic pressure on Tehran Tuesday, revoking a general license that had authorized the sale of Iranian oil. The <strong>Office of Foreign Assets Control (OFAC)<\/strong> rescinded the waiver, which was part of a recent memorandum of understanding (MOU), after at least three tankers were struck by projectiles and drones in the <strong>Strait of Hormuz<\/strong>. A US official stated the move was a direct consequence of &quot;wholly unacceptable&quot; Iranian actions, emphasizing that the MOU remains entirely performance-based.<\/p>\n<p>In Tehran, the <strong>Foreign Ministry<\/strong> rejected claims linking Iran to the vessel attacks, specifically calling <strong>Qatar\u2019s<\/strong> allegations inconsistent with friendly relations. However, Iranian officials simultaneously warned that ships failing to coordinate routes or those altering tracking signals could face &quot;dangers.&quot; The escalation has immediately impacted energy markets, with <strong>Brent crude<\/strong> gaining <strong>$2.17<\/strong> to settle at <strong>$74.16 per barrel<\/strong>, while <strong><a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">West Texas Intermediate<\/a> (WTI)<\/strong> saw similar gains.<\/p>\n<h2>Teck Resources Bolsters North American Critical Mineral Supply<\/h2>\n<p><strong>Teck Resources (<a href=\"\/stock\/TECK\">TECK<\/a>)<\/strong> announced a landmark agreement with the <strong>Canada Growth Fund (CGF)<\/strong> and <strong>Natural Resources Canada<\/strong> to expand production of strategic metals at its <strong>Trail Operations<\/strong> facility. The deal includes a potential <strong>$400 million<\/strong> investment from the CGF as part of a broader <strong>$850 million<\/strong> initiative by Teck to enhance the processing of <strong>germanium, gallium, and antimony<\/strong>. These metals are critical for semiconductors, defense applications, and clean energy technologies.<\/p>\n<p>The agreement also establishes an <strong>offtake structure<\/strong> with the Canadian government, ensuring a secure supply of these minerals for national security and industrial use. <em>Analysts view the move as a significant step in reducing North American reliance on Chinese-dominated supply chains for rare earth and strategic metals.<\/em><\/p>\n<h2>Financial Markets and Regulatory Developments<\/h2>\n<p>The surge in oil prices pushed <strong>U.S. bond yields<\/strong> higher, with the <strong>10-year Treasury yield<\/strong> advancing to <strong>4.533%<\/strong>. The <strong>U.S. Dollar Index<\/strong> also strengthened, rising <strong>0.25% to 101.1<\/strong>, as investors weighed the inflationary impact of renewed energy sanctions. Conversely, precious metals faced downward pressure; <strong>spot <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a><\/strong> slipped nearly 1% to <strong>$4,116.21\/oz<\/strong>, and <strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">silver<\/a><\/strong> plummeted 3% to trade at <strong>$60.16\/oz<\/strong>.<\/p>\n<p>On the regulatory front, the <strong>Federal Reserve<\/strong> requested public comment on a proposal to modernize <strong>anti-money laundering (AML)<\/strong> programs for banks. The proposed changes would require financial institutions to focus resources on higher-risk activities and incorporate <strong>FinCEN\u2019s<\/strong> national AML priorities into their internal risk assessments. Additionally, the <strong>FCC<\/strong> blocked a service request from <strong>DigitalSystem Technology<\/strong>, citing national security risks linked to the firm&#39;s Chinese ownership.<\/p>\n<h2>Aviation Emergency Off the Coast of Pakistan<\/h2>\n<p>A search and rescue operation is currently active in the <strong>Arabian Sea<\/strong> for a <strong>K2 Airways<\/strong> Boeing 737-400 cargo flight. The aircraft, registration <strong>AP-BOI<\/strong>, lost radar contact approximately <strong>155 nautical miles west of Karachi<\/strong> while en route from Sharjah. According to the <strong>Pakistan Airports Authority<\/strong>, the crew reported a &quot;navigational system problem&quot; shortly before radar showed a rapid descent from 1,100 feet. Multiple agencies, including the <strong>Pakistan Navy<\/strong> and <strong>Air Force<\/strong>, are involved in the search for the five crew members on board.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways US Treasury revokes Iranian oil waivers following a series of projectile and drone attacks on commercial tankers in 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