WTI crude oil futures soared as much as 31% on Monday, before easing back to trade 25% higher around $113 per barrel, amid a series of production cuts from major Middle Eastern producers following disruptions in the Strait of Hormuz. The spike marks the largest one-day gain since April 2020 and the highest price level since June 2022, building on last week’s 35.6% rally.
Brent crude soared 27% to $117.58 a barrel, the biggest daily gain since at least 1988, which came on top of a 28% rise last week.
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G7 finance ministers and International Energy Agency (IEA) Executive Director Fatih Birol will hold a teleconference at 8:30 AM (NY) to discuss the possibility of jointly releasing emergency oil reserves under the coordination of the IEA. Three G7 countries, including the US, have so far expressed support for this idea.
The 32 member countries of the IEA hold strategic reserves, part of a collective emergency system established to address the oil price crisis. US officials believe a joint release of 300 to 400 million barrels of oil reserves would be appropriate, equivalent to 25% to 30% of the total reserves of 1.2 billion barrels.
Donald Trump also commented on the rise in oil prices in the post on Truth Social.
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Tokyo and Washington are looking at building a display factory in the U.S. in partnership with Japan Display as part of Japan's planned $550 billion investment package. The plan is aimed at strengthening U.S. display manufacturing amid Washington's concerns over reliance on China for display technologies used in military systems at a time when fierce price competition has pushed most Japanese manufacturers out of the market.
The project is expected to be worth roughly $13 billion. Japan Display, formed in 2012 in a government-backed merger of the display units of Sony Group, Toshiba and Hitachi, was once one of the world's top vendors of liquid crystal display (LCD) panels and the primary screen supplier for Apple's iPhones.
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In a clinical study, many blind older adults who received the implant regained enough clarity to recognize letters and short words. Dr. Jose-Alain Sahel at the University of Pittsburgh reported meaningful improvements in 26 of the 32 participants who completed follow-up testing.
The device targets age-related macular degeneration, an eye disease that damages the center of the retina. The result is a permanent blank spot in the center of vision. The PRIMA implant, about 0.08 inches wide (2 millimeters), attempts to solve that problem by replacing the lost light sensors with a tiny electronic chip. Electrical signals stimulate nearby retinal neurons, which then send visual information through the optic nerve to the brain.
Future studies will need to track whether the visual signal remains stable for years and how continuing retinal degeneration might affect performance.
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The White House has released a new cyber strategy document titled 'President Trump's Cyber Strategy for America.' Notably, it is the first U.S. cybersecurity strategy to explicitly mention cryptocurrency and blockchain technology, emphasizing the need for their protection and security.
"Securing American innovation and protecting our national intellectual advantage will be paramount. We will build secure technologies and supply chains that protect user privacy from design to deployment, including supporting the security of cryptocurrencies and blockchain technologies. We will promote the adoption of post-quantum cryptography and secure quantum computing," - set out in this cyber strategy.
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The "Special Act on Strategic Investment Management between South Korea and the United States (Special Act on Investment in the U.S.)" was passed unanimously by the ruling and opposition parties on March 9. The legislation is expected to be reviewed by the National Assembly's Legislation and Judiciary Committee and is anticipated to pass in a full assembly meeting on March 12.
The act aims to establish the Korea-U.S. Strategic Investment Corporation with a government investment of 2 trillion won (approximately 9.299 billion RMB). This corporation will include a Risk Management Committee to oversee a $350 billion investment project in the United States.
The act also proposes the creation of the Korea-U.S. Strategic Investment Fund under the corporation. This fund will be used to invest in U.S. government-designated institutions and provide loans and guarantees for shipbuilding cooperation investments.
Investment information will be disclosed by default. If the special act is processed during the plenary session on the 12th, the U.S. is expected to withdraw its plan to raise tariffs.
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Starcloud aims to be the first to mine a coin in space. After proving it can run an Nvidia H100 GPU in orbit, US startup Starcloud plans to launch a dedicated bitcoin mining rig into space later this year.
"The company is pretty focused on the existing constellation for now. There’s also bitcoin mining... We’ll have some bitcoin mining ASICs on the second spacecraft launching later this year," - said Starcloud CEO Philip Johnston during the interview.
Johnston views bitcoin mining in orbit as a "future business" that could tap cheap energy by harnessing the Sun's power. Right now, bitcoin mining consumes about 20 GW of power continuously. Current bitcoin ASICs can run on any cheap energy source.
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Russian President Vladimir Putin said on Monday that Russia had repeatedly warned that destabilising the Middle East could lead to an energy crisis with grave implications for the global economy. But he noted that the spike in prices was probably temporary. Putin said that Russia is ready to work again with European customers if they wanted to return to long-term cooperation.
"Oil production dependent on the Strait of Hormuz risks halting completely within the next month," - Putin said. "We're ready to work with Europeans too. But we need some signals from them that they're ready and willing to work with us and will ensure this sustainability and stability."
The Trump administration is reportedly considering further easing of sanctions on Russian oil amid ongoing concerns about rising oil prices.
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"I think the war is very complete, pretty much," Trump said. "Iran has no navy, no communications, they've got no air force. Their missiles are down to a scatter. Their drones are being blown up all over the place, including their manufacturing of drones. If you look, they have nothing left. There's nothing left in a military sense."
On the Strait of Hormuz: US is "thinking about taking it over" and could do "a lot".
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Anthropic on Monday filed a lawsuit to block the Pentagon from placing it on a national security blacklist, escalating the AI lab’s high-stakes battle with the U.S. military over usage restrictions on its technology.
Anthropic said in its lawsuit that the designation was unlawful and violated its free speech and due process rights. The filing in federal court in California asked a judge to undo the designation and block federal agencies from enforcing it.
“These actions are unprecedented and unlawful. The Constitution does not allow the government to wield its enormous power to punish a company for its protected speech," Anthropic said.
Anthropic officials said the lawsuit doesn't preclude re-opening negotiations with the U.S. government and reaching a settlement. The company has said it does not want to be fighting with the U.S. government. Last week, a Pentagon official said the two sides were no longer active talks.
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Chinese device maker Oukitel has announced the world's first rugged solar-powered laptop, the RG14-P, featuring a 14.1" touchscreen and a solar panel array integrated into the back cover behind the laptop's display.
The laptop will come with an internal 3,000mAh main battery and a larger 5,200mAh backup battery, paired with 65 watts of fast charging. This is wired charging from the wall that does not account for the internal solar panel. Oukitel also announced that the laptop will come pre-installed with Windows 11. The exterior of the laptop features a metal chassis with rubber pads on each edge to protect the device.
The laptop is geared towards industrial workers who need a laptop that can operate in harsh conditions and remote environments for extended periods of time, likely away from a power outlet.
#BRICS
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OpenAI said Monday that it is acquiring the cybersecurity startup Promptfoo, which provides tools to help safeguard and test complex AI systems. The Sam Altman-led firm did not disclose the terms of the deal, but said Promptfoo’s team would join OpenAI. Promptfoo’s security tools will be brought within OpenAI’s Frontier platform for AI agents.
OpenAI said that it would also continue building Promptfoo’s popular open-source project that lets developers test various AI-related prompts and agents and compare the performance of large language models like ChatGPT, Anthropic’s Claude and Google’s Gemini.
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PizzAndy created a 3D printing prototype that mines Bitcoin. The hybrid device is based on an open-source 3D printer design with a custom bed that is heat-controlled by throttling the Bitcoin mining ASICs attached to it. The printer bed is basically a heatsink.
The compact prototype is capable of a humble 500 GH/s when the bed is at 75 °C, says PizzAndy, but there are already plans for scaling and a tile-based model using Intel ASICs targeting at least 10 TH/s.
PizzAndy says the thought initially popped into his head 5 years ago, when he was heating his basement workspace (in the cold months) to help his 3D printers work better. The 3D printer/BTC enthusiast thought it would be “a cool thing” to mix these two technologies, but wasn’t sure about its commercial value. Since that time, he has become convinced that a commercial product is worthwhile.
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Japan has approved ground-breaking stem-cell treatments for Parkinson's and severe heart failure. Pharmaceutical company Sumitomo Pharma said it received the green light for the manufacture and sale of Amchepry, its Parkinson's disease treatment that transplants stem cells into a patient's brain.
The study involved 7 Parkinson's patients aged between 50 and 69, with each receiving a total of either 5 million or 10 million cells. No major adverse effects were found, 4 patients showed improvements in symptoms. The treatments could be on the market and rolled out to patients as early as this summer, becoming the world's first commercially available medical products using (iPS) cells.
Japan's health ministry also gave the go-ahead to ReHeart, heart muscle sheets developed by medical startup Cuorips that can help form new blood vessels and restore heart function.
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Chipmaker Nexperia's Chinese subsidiary said that it has begun producing its own chips, a further step towards independence from its Dutch parent as a dispute that has disrupted automakers' supply lines continues.
The company has started making several types of chips also produced by Nexperia, but using 12-inch wafers - a size the Dutch company cannot manufacture in Europe - to make products including bipolar discrete devices, Schottky rectifiers and electrostatic discharge devices. The most likely supplier is WingSkySemi, a 12-inch wafer fab in Shanghai.
These chips are simpler than IGBTs, the insulated-gate bipolar transistors used for current regulation in applications like EVs and industrial equipment. The announcement demonstrates how far the company’s Chinese subsidiary has moved toward building a self-contained supply chain since its spat with Nexperia proper began in late 2025.
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Elon Musk has revealed plans to introduce an early public access version of X Money next month. Users will soon have the opportunity to experience the X Money service in a preliminary form.
One of the biggest questions surrounding X Money, however, is whether or not it will support cryptocurrencies?
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Recently, Brad Garlinghouse, Ripple CEO, and Monica Long, Ripple's president, along with others on the Ripple leadership team traveled to Dublin, London, Singapore and Sydney to meet with the Ripple Team.
A few notes from the road:
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Google announced on Tuesday that it’s bringing a slew of new Gemini-powered AI capabilities to Docs, Sheets, Slides, and Drive. The new features let users do things like quickly generate fully formatted first drafts, slides, and sheets based on information from their Gmail, Chat, and Drive.
The tools are designed to make the apps more personal and capable of helping users get things done faster, right within the platforms themselves, instead of needing to switch to a separate tool or chatbot. All the new features are rolling out today in beta and will first be available to Google AI Ultra and Pro subscribers. They’re available in English worldwide for Docs, Sheets, and Slides, and in the U.S. for Drive.
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U.S. Commodity Futures Trading Commission Chair (CFTC) Michael Selig said that "America is now the crypto capital of the world" during speech at the FIA's annual industry conference. The CFTC is drafting a crypto asset taxonomy and providing registration guidance for non-custodial software developers, while also reviewing rules for leveraged retail commodity transactions and the classification of true crypto-perpetuals.
"The U.S. is at the beginning of another great wave of innovation, as markets continue to digitize and crypto assets become mainstream," - said Selig.
The CFTC chair pointed to the adoption of blockchain technologies, crypto assets and smart contracts as forces introducing new methods for trading, clearing, settling and collateralizing commodity price exposure, alongside artificial intelligence systems executing orders at speeds and volumes far beyond human capacity.
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Engineers at RMIT University in Australia have built a remote-controlled robotic “Electronic Dolphin” designed to vacuum oil from the surface of water using a filter inspired by sea urchins. Its dolphin-like shape allows it to move easily across the surface while collecting contaminated liquid. At the front of the robot sits a specially designed filter. A small pump draws oil through the filter and into an onboard storage chamber.
The current prototype runs for about 15 minutes on its battery. Engineers expect future versions to run longer as pump power and storage capacity increase. By combining robotics with specialized materials, the research team aims to create a faster and safer way to remove oil from sensitive waterways without putting human responders at risk.
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YouTube viewers watching on TVs may soon have to sit through even longer ads, with Google rolling out new 30-second unskippable spots on its television app. The change means some ads that previously allowed users to skip after a few seconds will instead run the full half-minute with no option to bypass them except for subscribing to YouTube Premium.
“Google AI dynamically optimizes between 6-second Bumpers, 15-second standard, and 30-second CTV-only non-skippable ad formats, ensuring your campaign reaches the right audience at the right time,” - Google explained.
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