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Oil Prices Surge Near $108 as Middle East War Closes Strait of Hormuz

Key Points: Brent crude prices jumped 5% this week to near $108 a barrel as the conflict in the Middle East severely restricts the Strait of Hormuz. Global oil markets face a historic disruption with 10 million barrels of daily output halted across the Persian Gulf. President Donald Trump pushed to de-escalate energy attacks, widening...

Alibaba and Tencent Lose $66 Billion in Market Value Amid AI Profit Doubts

Key Points: Alibaba and Tencent saw a combined $66 billion wiped from their market value in just 24 hours. Investors are increasingly anxious about the massive investments Chinese tech giants are making in artificial intelligence without clear plans for generating revenue. Alibaba reported a massive 67% drop in its quarterly net income, further spooking the...

Oil Prices Surge Past $110 as War Destroys Gulf Energy Infrastructure

Key Points: Brent crude briefly crossed $119 per barrel after new attacks on Middle Eastern energy infrastructure. Israel struck Iran's massive South Pars gas field, sparking immediate retaliation. Iran attacked critical refineries and export terminals in Saudi Arabia, Kuwait, and the UAE. US Treasury Secretary Scott Bessent suggested removing sanctions on 191 million barrels of...