Energy markets dominated global attention as tensions escalated around the Strait of Hormuz, with oil falling 2.8% to $96 despite geopolitical uncertainty. US Treasury Secretary Scott Bessent confirmed that Iranian tankers are being allowed through the critical shipping lane, while denying that Washington is intervening in oil markets. Trump’s demands for NATO allies to help secure the waterway drew protests in South Korea, highlighting growing international resistance to American security demands.
Cryptocurrency markets surged as institutional adoption accelerated, with Bitcoin climbing 3.1% to $74,000 and Ethereum jumping 8.2% to $2,284. MicroStrategy added another $1.57 billion in Bitcoin purchases, bringing their holdings to over 760,000 coins, while Japanese firm Metaplanet raised $255 million specifically for Bitcoin accumulation. The rally came as the SEC dropped its lawsuit against BitClout’s founder, signaling potential regulatory clarity.
In the UK, Prime Minister Starmer announced £53 million in heating oil support for vulnerable households while firmly stating Britain would not be drawn into wider Middle Eastern conflicts. This domestic relief package reflects the broader cost-of-living pressures stemming from regional instability, particularly affecting rural communities dependent on heating oil.
Technology stocks found support from Meta’s massive $27 billion AI infrastructure deal with Nebius, which jumped 14% on the news. Meanwhile, Google and Accel India’s accelerator program selected just 5 startups from over 4,000 applications, with 70% of pitches dismissed as mere “AI wrappers” — suggesting growing selectivity in the AI investment space as the bubble matures.
References
- U.S. is allowing Iranian tankers through Strait of Hormuz, says Bessent
- Bessent says Treasury is not intervening in oil commodities markets and has no authority to do so
- Nebius jumps 14% after inking $27 billion infrastructure deal with Meta
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- Netflix’s ‘Frankenstein’ wins three Oscars, ‘KPop Demon Hunters’ wins two
- Google, Accel India accelerator chooses 5 startups and none are ‘AI wrappers’
- Metaplanet raises $255 million to accelerate bitcoin accumulation
- Michael Saylor’s Strategy made another huge buy of bitcoin, adding $1.57 billion worth last week
- SEC drops lawsuit against BitClout’s Nader Al-Naji
- Corruption erodes social trust more in democracies than in autocracies
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- UK ‘will not be drawn into wider war’ over Iran, says Starmer as he announces £53m to help with heating oil costs – UK politics live
- UK will not be drawn into wider war in Middle East, says Keir Starmer
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- Starmer announces £53m to help households most hit by rising heating oil costs
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- War on Iran: How long can Iran control the Strait of Hormuz?
- South Korean protesters criticise Trump over Hormuz security demand | AJ #shorts
- UK will not be drawn into wider Middle East war: PM Starmer
- Trump warns Nato over securing the Strait of Hormuz | BBC News
- Iran’s FM spokesman denies responsibility in all Gulf attacks, warns of US–Israel ‘false flag’