Oil Gains on Tanker Attacks, Investors Await US Retail Sales

Oil prices rose yesterday following attacks on two oil tankers in the Gulf of Oman. The attacks sparked fresh tensions between Iran and the US and generated concerns over supply flows through one of the globe’s most vital sea lines. Today, investors will turn attention to the US retail sales as they try to figure out whether and by how much the FOMC is willing to cut rates in the months to come. In the UK, Boris Johnson took a strong lead in the first voting round among Conservative MPs, while in Switzerland, the SNB stood pat, revising slightly higher…