Oil prices retreat after rising over 3% Tuesday amid diplomatic progress between Washington and Tehran despite regional clashes. West Texas Intermediate crude fell to $91.90 per barrel in Asian trading Wednesday, paring gains after a 3% rally the prior session. The decline
Oil falls on US-Iran deal hopes to reopen Strait of Hormuz Oil prices fell in early Asian trade as traders weighed the prospect of a US-Iran agreement to reopen the Strait of Hormuz. The decline came despite a backdrop of renewed hostilities, with Tehran signalling th
David Hoffman reallocates capital after concluding Ethereum’s valuation reflects its progress, limiting further ETH rerating potential. Bankless co-founder David Hoffman sold his ETH holdings, stating the 'ETH Is Money' thesis has largely played out. He believes Ethereum’s
The People’s Bank of China’s daily yuan fixing influences onshore trading within a 2% band, signaling policy intent amid market pressures. The People’s Bank of China is expected to set its daily USD/CNY reference rate at 6.7883, a key benchmark for onshore yuan trading. Th
Bank of Japan Governor highlights wage and exchange rate conditions could turn temporary oil price surges into sustained inflation. Bank of Japan Governor Kazuo Ueda cautioned that the current Middle East conflict poses Japan’s fifth major oil shock, with potential for tem
April data shows slower-than-expected services inflation, signaling easing upstream cost pressures in Japan’s corporate sector. Japan’s services producer price index climbed 3% year-over-year in April, missing the 3.3% consensus forecast and decelerating from March’s 3.1%
Bitcoin drops after briefly reaching $78K Bitcoin's price dropped after briefly reaching $78,000. The cryptocurrency's inability to hold above $78,000 was due to selling via derivatives putting pressure on its price. The spot market absorbed some of the selling, sof
BOJ Governor Kazuo Ueda opens two-day conference The Bank of Japan has begun its two-day IMES conference in Tokyo, featuring speakers from the Fed, RBA, IMF, and BIS. The conference comes at a critical time for the BOJ, which is navigating a path to normalize monetary
SpaceX’s upcoming Nasdaq debut at a $1.25 trillion valuation sparks merger talks with Tesla, valued at $1.6 trillion. Elon Musk has discussed merging SpaceX and Tesla with colleagues as SpaceX prepares for its Nasdaq debut at a $1.25 trillion private valuation. The move fo
Energy firms bid a record $163 million for 5.5 million acres in Alaska’s National Petroleum Reserve as secure supply demand rises. A Bureau of Land Management lease sale for 5.5 million acres in Alaska’s National Petroleum Reserve attracted a record $163 million in bids. M
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