Pickaxe Diplomacy

NAB Morning Call · Jul 21, 2026 · 16m

Wednesday 22nd July 2026

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Intelligence suggests that Iran has moved its nuclear capability inside Pickaxe Mountain, which the US President has said they will attack, heavily. That, together with an IEA warning and Saudi ships turning around in the Red Sea has pushed oil higher, back into the nineties, with the potential to go much further. NAB’s Skye Masters joins Phil to talk through the market response to this, plus the rebound in equities, particularly for chipmakers, ahead of Alphabet and Tesla…