Bitcoin dips under $73,000, with $1 billion in liquidations over the past day amid escalating geopolitical tensions and US investors withdrawing capital from spot Bitcoin ETFs
China and Japan significantly reduced their U.S. Treasury holdings in March due to the Middle East war's impact on energy prices and local currencies. Other foreign holders also sold, with overall holdings falling, though the UK increased its stake.
China and Japan significantly reduced their U.S. Treasury holdings in March due to the Middle East war, which caused energy price surges and currency depreciation, forcing central banks to liquidate dollar reserves.
China and Japan significantly reduced their U.S. Treasury holdings in March due to the Middle East war's impact on energy prices and local currencies. Overall foreign holdings fell as central banks liquidated dollar reserves for currency intervention.
The S&P 500 has rebounded to all-time highs despite the ongoing U.S.-Iran war, fueled by strong company margins, tech companies' insulation from the war's impact, and the US economy's reduced reliance on oil.
OPEC+ is set to agree on a modest oil output increase of about 188,000 barrels per day in June, but the hike will remain largely symbolic as the U.S.-Iran war continues to disrupt Gulf oil supplies through the closed Strait of Hormuz. The seven members meeting include Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, Russia, and Oman. Oil prices have surged to a four-year high above $125 per barrel, with analysts warning of jet fuel shortages in one to two months and rising global inflation.
The U.S. and Israeli conflict with Iran is accelerating Asia's shift to electrification, particularly electric vehicles and battery storage systems. The potential loss of around 10 million barrels per day of crude and 20% of global LNG supplies from the Middle East is driving unprecedented growth in EVs, especially two- and three-wheelers, and battery energy storage systems across Southeast and South Asia.
Brent oil futures rose 3% to $105.07 per barrel on Thursday amid heightened tensions in the Strait of Hormuz, where both the U.S. and Iran are enforcing blockades. Oil tanker traffic remains very low as both nations have seized ships during a fragile ceasefire. Meanwhile, Israel's defense minister said Jerusalem is waiting for U.S. approval to resume the war against Iran following the killing of Supreme Leader Ayatollah Ali Khamenei.
Brent oil rose nearly 3% to $104.79 per barrel after Israeli broadcaster N12 reported that Iran's parliament speaker Mohammad Bagher Ghalibaf resigned as Tehran's lead negotiator with the U.S., citing interference from the country's Revolutionary Guard. The market concerns stem from potential harder line in nuclear negotiations. Meanwhile, Strait of Hormuz tanker traffic remains low amid competing U.S. and Iranian blockades.
Oil prices fluctuated as President Trump extended a ceasefire with Iran, despite the collapse of planned peace talks in Pakistan. The ongoing U.S. naval blockade and Iranian refusal to negotiate keep global energy markets in a state of high uncertainty.
South Korean stocks reached a new historic high on Tuesday, recovering all losses since the U.S.-Iran conflict began, driven by expectations of peace talks progress and strong performance in tech stocks. The Korean won also strengthened against the U.S. dollar.
