Crude oil futures jumped significantly last week, with July WTI crude rising over 11% to $101.16 and Brent crude up more than 8.5% to $109.71. The surge is driven by ongoing disruptions in the Strait of Hormuz, a critical oil shipping route, causing tighter supply and falling U.S. oil inventories. Stalled U.S.-Iran talks and military tensions add upward pressure on prices, signaling a market shift from expecting a quick resolution to pricing in prolonged supply constraints. Key resistance levels for WTI are $103.78 and $110.93, while Brent faces tests at $115.24 and $119.44, with further rallies possible if these are breached. The market will closely watch upcoming U.S. inventory reports and diplomatic developments for direction.
Anthony Scaramucci criticized the US decision to grant China permanent trade relations and WTO membership, saying it allowed China to protect its economy while exporting freely to the US. He argued that China used this advantage to take US technology...
Bitcoin's on-chain data reveals nearly 60% of its supply hasn't moved in over a year, indicating strong long-term holder conviction. Exchange-held Bitcoin has dropped to a six-year low as about 500,000 BTC have left exchanges, reducing sell-side supp...
AlphaPepe's presale is nearing sell-out at Stage 16, having raised over $1.25 million and attracted more than 8,700 holders. The project also boasts over 4,000 active users on its AlphaSwap AI-powered decentralized exchange demo and has completed a 1...
South Korean President Lee Jae Myung urged balance between labor and management as Samsung Electronics faces a potential 18-day strike starting May 21. The union demands higher performance bonuses, seeking 15% of operating profit, while Samsung offer...
Cerebras (CBRS) debuted with a valuation exceeding $100 billion, driven by hype despite having only two paying customers in the UAE. The stock quickly dropped nearly 28%, trading at 134 times trailing revenue, far above Nvidia's multiple, amid concer...
