> OIL SUPPLY REBOUND EASES MARKET FEARS
UBS SAYS NEARLY 80% OF OIL SUPPLY DISRUPTED BY THE MIDDLE EAST CONFLICT WILL RETURN WITHIN THREE MONTHS, RISING TO ABOUT 90% BY YEAR-END.
BRENT CRUDE HAS FALLEN BELOW $80 AS FLOWS THROUGH THE STRAIT OF HORMUZ RECOVER AND REGIONAL PRODUCTION RAMPS UP.
UBS CUT ITS Q3 SUPPLY-LOSS ESTIMATE TO 7 MILLION BPD FROM 12 MILLION, BUT WARNS FULL NORMALIZATION WILL TAKE TIME DUE TO LOGISTICAL AND OPERATIONAL BOTTLENECKS.
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UBS SAYS NEARLY 80% OF OIL SUPPLY DISRUPTED BY THE MIDDLE EAST CONFLICT WILL RETURN WITHIN THREE MONTHS, RISING TO ABOUT 90% BY YEAR-END.
BRENT CRUDE HAS FALLEN BELOW $80 AS FLOWS THROUGH THE STRAIT OF HORMUZ RECOVER AND REGIONAL PRODUCTION RAMPS UP.
UBS CUT ITS Q3 SUPPLY-LOSS ESTIMATE TO 7 MILLION BPD FROM 12 MILLION, BUT WARNS FULL NORMALIZATION WILL TAKE TIME DUE TO LOGISTICAL AND OPERATIONAL BOTTLENECKS.
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> JPMORGAN INCREASES S&P 500 YEAR-END PRICE TARGET TO 7,800 POINTS; SAYS OUTLOOK APPROACHING “BLUE SKY” SCENARIO
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> US MORTGAGE RATES DIP SLIGHTLY
THE AVERAGE 30-YEAR US MORTGAGE RATE FELL 1 BASIS POINT TO 6.59% IN THE WEEK ENDED JUNE 19, ACCORDING TO THE MORTGAGE BANKERS ASSOCIATION.
TOTAL MORTGAGE APPLICATIONS ROSE 1%, RECOVERING FROM THE PRIOR WEEK'S DECLINE.
REFINANCING ACTIVITY INCREASED 3%, WHILE HOME PURCHASE APPLICATIONS SLIPPED 0.6%, WITH BORROWING COSTS REMAINING NEAR THEIR HIGHEST LEVELS SINCE LAST AUGUST.
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THE AVERAGE 30-YEAR US MORTGAGE RATE FELL 1 BASIS POINT TO 6.59% IN THE WEEK ENDED JUNE 19, ACCORDING TO THE MORTGAGE BANKERS ASSOCIATION.
TOTAL MORTGAGE APPLICATIONS ROSE 1%, RECOVERING FROM THE PRIOR WEEK'S DECLINE.
REFINANCING ACTIVITY INCREASED 3%, WHILE HOME PURCHASE APPLICATIONS SLIPPED 0.6%, WITH BORROWING COSTS REMAINING NEAR THEIR HIGHEST LEVELS SINCE LAST AUGUST.
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> HORMUZ SHIPPING RESUMES UNDER UN ESCORT
COMMERCIAL TRAFFIC IS BEGINNING TO RETURN TO THE STRAIT OF HORMUZ UNDER A UN-LED EVACUATION SCHEME.
AT LEAST THREE SHIPS TRANSITED THE WATERWAY IN THE PAST 12 HOURS, INCLUDING DRY BULK AND CARGO VESSELS.
SHIP-TRACKING DATA SHOWS MORE THAN 35 ADDITIONAL COMMERCIAL SHIPS ARE PREPARING TO PASS THROUGH THE STRAIT, SIGNALING IMPROVING MARITIME ACCESS.
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COMMERCIAL TRAFFIC IS BEGINNING TO RETURN TO THE STRAIT OF HORMUZ UNDER A UN-LED EVACUATION SCHEME.
AT LEAST THREE SHIPS TRANSITED THE WATERWAY IN THE PAST 12 HOURS, INCLUDING DRY BULK AND CARGO VESSELS.
SHIP-TRACKING DATA SHOWS MORE THAN 35 ADDITIONAL COMMERCIAL SHIPS ARE PREPARING TO PASS THROUGH THE STRAIT, SIGNALING IMPROVING MARITIME ACCESS.
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> BINANCE SAYS IT WILL STAY IN EU AND MAKE NEW ATTEMPT TO GET CRYPTO LICENCE DESPITE FAILED BID
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> BINANCE FIGHTS TO STAY IN EUROPE
BINANCE SAYS IT REMAINS COMMITTED TO THE EU AND IS SEEKING ALTERNATIVE REGULATORY APPROVALS AFTER ITS LICENSE APPLICATION IN GREECE FAILED.
THE COMPANY HAS ONE WEEK TO SECURE AUTHORIZATION BEFORE ITS CURRENT OPERATING PERMISSION EXPIRES.
SOURCES SAY REGULATORS IN GREECE, IRELAND AND LATVIA RAISED CONCERNS OVER BINANCE’S PAST COMPLIANCE ISSUES, CORPORATE STRUCTURE AND RISK PROFILE.
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BINANCE SAYS IT REMAINS COMMITTED TO THE EU AND IS SEEKING ALTERNATIVE REGULATORY APPROVALS AFTER ITS LICENSE APPLICATION IN GREECE FAILED.
THE COMPANY HAS ONE WEEK TO SECURE AUTHORIZATION BEFORE ITS CURRENT OPERATING PERMISSION EXPIRES.
SOURCES SAY REGULATORS IN GREECE, IRELAND AND LATVIA RAISED CONCERNS OVER BINANCE’S PAST COMPLIANCE ISSUES, CORPORATE STRUCTURE AND RISK PROFILE.
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> $SPCX - ROBOTICS, SPACE STOCKS FACE BUBBLE RISK
KB SECURITIES WARNS ROBOTICS AND SPACE STOCKS COULD BE AMONG THE MOST VULNERABLE SECTORS IN A MARKET DOWNTURN, DRAWING COMPARISONS TO THE DOT-COM BUBBLE.
THE BANK SAYS COMPANIES RELIANT ON FUTURE GROWTH EXPECTATIONS RATHER THAN CURRENT EARNINGS ARE AT GREATEST RISK.
IN CONTRAST, SEMICONDUCTOR FIRMS WITH STRONG EARNINGS ARE SEEN AS BETTER POSITIONED TO WITHSTAND ANY MARKET CORRECTION.
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KB SECURITIES WARNS ROBOTICS AND SPACE STOCKS COULD BE AMONG THE MOST VULNERABLE SECTORS IN A MARKET DOWNTURN, DRAWING COMPARISONS TO THE DOT-COM BUBBLE.
THE BANK SAYS COMPANIES RELIANT ON FUTURE GROWTH EXPECTATIONS RATHER THAN CURRENT EARNINGS ARE AT GREATEST RISK.
IN CONTRAST, SEMICONDUCTOR FIRMS WITH STRONG EARNINGS ARE SEEN AS BETTER POSITIONED TO WITHSTAND ANY MARKET CORRECTION.
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> TRUMP: NO HORMUZ FEES, FOOD DEAL MOVES AHEAD
PRESIDENT TRUMP SAID IRAN HAS ASSURED THE U.S. IT IS NOT CHARGING TOLLS, INSURANCE FEES, OR OTHER COSTS ON SHIPS TRANSITING THE STRAIT OF HORMUZ.
TRUMP WARNED NEGOTIATIONS WOULD END IMMEDIATELY IF THAT PROVES FALSE.
HE ALSO SAID FROZEN IRANIAN FUNDS WILL BE USED TO BUY U.S. AGRICULTURAL PRODUCTS, INCLUDING CORN, WHEAT, AND SOYBEANS, FOR DELIVERY TO IRAN.
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PRESIDENT TRUMP SAID IRAN HAS ASSURED THE U.S. IT IS NOT CHARGING TOLLS, INSURANCE FEES, OR OTHER COSTS ON SHIPS TRANSITING THE STRAIT OF HORMUZ.
TRUMP WARNED NEGOTIATIONS WOULD END IMMEDIATELY IF THAT PROVES FALSE.
HE ALSO SAID FROZEN IRANIAN FUNDS WILL BE USED TO BUY U.S. AGRICULTURAL PRODUCTS, INCLUDING CORN, WHEAT, AND SOYBEANS, FOR DELIVERY TO IRAN.
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> TRUMP: ADDITIONALLY, NO MONEY HAS BEEN GIVEN TO IRAN, OR RELEASED FROM THEIR MONEY TO THEM, BY U.S.
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> TRUMP: IRAN HAS INFORMED THE U.S. THERE ARE NO TOLLS BEING SOUGHT ON STRAIT OF HORMUZ
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