Journalist
John Na
han@ajunews.com
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Oil Jumps on Hormuz Strait Risk, but Forecasts Point to Lower Prices Later The war in the Middle East is jolting global oil prices. Traders are watching the Strait of Hormuz more closely than economic indicators, but the picture could shift over the next six months. After a short-term spike, prices may retreat as supply recovers and demand cools. According to the International Energy Agency, the U.S. Energy Information Administration and Reuters on the 23rd, the key near-term variable remains when shipping through the Strait of Hormuz returns to normal. Markets have been most sensitive to the risk of supply disruptions. Reuters reported that Brent crude on the 22nd rose above $100 a barrel (about 159 liters). The EIA said that even if Hormuz traffic resumes gradually, the Brent-WTI spread could widen to $15 a barrel in April, as bottlenecks for Middle Eastern crude headed to Asia push up shipping rates and procurement costs. Some factors could still drive prices higher in the near term. Citi said global crude and petroleum product inventories could fall by about 900 million barrels by the end of June even if a U.S.-Iran ceasefire is extended and Hormuz shipping and production normalize by late June. The IMF warned that if supply disruptions exceed its baseline scenario, global growth this year could slow to 2.5% while inflation could rise to 5.4%. Conditions that could pull prices down become clearer in the second half of the year. Eight OPEC+ countries agreed to raise output by 206,000 barrels a day starting in May, and Saudi Arabia and the United Arab Emirates are increasing volumes through alternative export routes. If bottlenecks ease even partly, prices could give back gains driven by disruption fears. Demand forecasts, however, diverge sharply. In its report this month, the IEA said global oil demand this year would fall by an average of 80,000 barrels a day, reversing its forecast a month earlier for a 730,000-barrel-a-day increase. OPEC, by contrast, projected demand would rise by 1.4 million barrels a day. The split underscores how prices may be swayed less by supply-demand balances than by how far the war spreads and how long it lasts. Over the medium term, institutions are leaning toward lower prices. The IEA said global energy demand growth slowed to 1.3% last year, while electric vehicle sales topped 20 million, about 25% of new-car sales. Growth in global oil demand was just 0.7%. U.S. crude output is expected to rise to 13.61 million barrels a day in 2026 and 13.83 million in 2027. The EIA forecast Brent spot prices would average $115 a barrel in the second quarter, then fall below $90 in the fourth quarter as production disruptions ease. The IMF put oil at $82.22 a barrel in 2026 and $75.97 in 2027. Morgan Stanley projected Brent at $110 in the second quarter this year, $100 in the third quarter and $80 in 2027.* This article has been translated by AI. 2026-04-23 14:55:41 -
Reuters: DeepSeek Seeks First Outside Funding at Valuation Above $20 Billion Chinese AI startup DeepSeek, which has previously ruled out outside funding, is now seeking its first external capital, according to reports. Reuters reported on April 22 (local time) that Tencent and Alibaba are discussing potential investments in DeepSeek. The Information, citing multiple sources, said DeepSeek is pursuing its first outside funding round based on a valuation above $20 billion. Reuters said the valuation and the amount to be raised could change because talks are ongoing. DeepSeek is an AI startup owned by Chinese hedge fund High-Flyer Capital Management. Reuters reported on April 17 that DeepSeek was in talks with investors to raise at least $300 million, based on a valuation of about $10 billion. At the time, The Information said DeepSeek was seeking outside funding to finance development of reasoning-focused AI and autonomous agents. The rising valuation comes as AI development costs climb. Reuters said the fundraising talks underscore that building and operating advanced AI models requires large amounts of capital as sophisticated reasoning models and agent-based AI spread.* This article has been translated by AI. 2026-04-23 14:05:58 -
U.S. Senate Again Blocks Bid to Limit Trump’s Authority for Military Action Against Iran The U.S. Senate again blocked an effort to limit President Donald Trump’s authority to take military action against Iran, rejecting a Democratic push to require congressional approval for any additional action. CBS and The Wall Street Journal reported that on April 22 (local time), the Senate voted down a motion to advance the war powers resolution to the floor, 51-46. The vote marked the fifth attempt in the Senate tied to limiting authority related to the Iran war. Republican Sen. Rand Paul voted in favor, while Democratic Sen. John Fetterman voted against. Sen. Ed Markey’s office said in a statement the same day that Markey supported the resolution introduced by Sen. Tammy Baldwin, but it failed on the 51-46 vote. Democrats argue that Trump is expanding the scope of the war without congressional approval and say Congress should strengthen oversight under the War Powers Act. Senate Democratic Leader Chuck Schumer has indicated he would keep forcing votes on the issue on a weekly basis. Republicans have maintained their opposition, citing self-defense and the president’s authority as commander in chief. Reuters previously reported that on April 15 the Senate blocked a similar effort, 52-47. With the April 22 vote, the pattern of the Senate repeatedly turning back attempts to curb Trump’s authority over the Iran war became clearer.* This article has been translated by AI. 2026-04-23 13:48:16 -
Trump Envoy Suggests Italy Replace Iran in 2026 World Cup, FT Reports Donald Trump’s envoy has suggested to FIFA that Italy take Iran’s place at the 2026 World Cup in North America, according to foreign media reports. The proposal appears to be only a suggestion by a U.S. figure, and it is not known whether FIFA has formally considered it. The Financial Times reported Tuesday (local time) that Trump envoy Paolo Zampolli proposed to President Trump and FIFA President Gianni Infantino that “Italy should be put in the World Cup instead of Iran.” Zampolli told the FT, “I’m Italian, and I want to see the Azzurri at a tournament hosted by the United States,” adding that Italy is “a team worthy of four World Cup titles.” The FT said the idea also appeared aimed at repairing ties between Trump and Italian Prime Minister Giorgia Meloni. Reuters, citing the FT, reported the two had fallen out over the Iran war and Trump’s criticism of Pope Leo XIV. The chances of the proposal being adopted remain unclear. Reuters said the White House, FIFA, the Italian Football Federation (FIGC) and the Football Federation Islamic Republic of Iran (FFIRI) did not immediately respond to questions. Iran, meanwhile, reiterated it is ready to participate. The FT reported Iran issued a statement Tuesday reaffirming its intention to play, and Anadolu Agency said an Iranian government spokesperson told state broadcaster IRIB, “We have completed the necessary preparations.” Infantino has also treated Iran’s participation as a given. In a CNBC interview, he said, “Iran must come,” adding that “sport must be outside politics.” Iran is scheduled to play three group-stage matches in the United States. It previously discussed with FIFA moving the venue to Mexico instead of the United States, but that was not accepted. Italy has not qualified. Last month, it lost 4-1 on penalties to Bosnia and Herzegovina in a playoff final, missing the World Cup finals for a third straight time.* This article has been translated by AI. 2026-04-23 10:13:17 -
Israel-Hezbollah Clashes Intensify as Lebanon Airstrikes Kill at Least 4 Ahead of Truce Deadline Israel and Hezbollah, the Iran-backed armed group in Lebanon, have stepped up clashes again. Tensions rose after Israeli airstrikes in southern Lebanon killed at least four people, days before a U.S.-brokered truce is set to expire. On April 22 (local time), Israel struck Tyre and Yohmor in southern Lebanon, killing at least four people, Reuters reported. The attacks came just days before planned truce talks in Washington. Hezbollah responded with a drone attack targeting Israeli forces, accusing Israel of repeatedly violating the ceasefire agreement. The truce is a 10-day, time-limited deal brokered by the United States and is due to end Sunday. Lebanon’s government says it wants to discuss extending the truce, an Israeli withdrawal, the return of detainees and border demarcation. However, Hezbollah opposes direct talks with Israel, Reuters reported, highlighting divisions inside Lebanon. Also on April 22, Lebanese journalist Amal Khalil was killed in an Israeli airstrike while reporting in southern Lebanon, and another journalist was wounded. Reuters said it was the deadliest day since the truce was announced. The Israeli military said it struck a Hezbollah-linked vehicle that entered a restricted area and denied deliberately targeting journalists.* This article has been translated by AI. 2026-04-23 09:36:45 -
Tesla Q1 Revenue Misses Estimates; Profit, Free Cash Flow Beat as AI Spending Rises Tesla said first-quarter revenue fell short of market expectations, while operating profit and free cash flow came in stronger than forecast. With its core electric-vehicle business still slowing, the company said it plans to expand investment in artificial intelligence, self-driving technology, robots and semiconductors. In its first-quarter report released Tuesday local time, Tesla posted revenue of $22.39 billion, below the market estimate of $22.6 billion. Operating profit was $941 million, with an operating margin of 4.2%. Free cash flow totaled $1.44 billion, remaining positive. Earlier sales results had disappointed. Tesla delivered 358,023 vehicles in the first quarter, up 6.3% from a year earlier but below Wall Street expectations. Reuters reported that the end of tax incentives and intensifying competition in lower-priced EVs have weighed on demand. After the earnings release, attention shifted to Tesla’s spending plans. The company raised its 2026 capital-expenditure outlook to more than $25 billion and said initial production of its self-driving taxi, the “Cybercab,” will begin this year. As the EV business slows, Tesla pointed to energy storage as a growth driver. Tesla also warned that as large-scale investment centered on AI and robotics accelerates, free cash flow could turn negative again over the remainder of the year. The company is also moving to expand its robotaxi business. It said the service, launched last year in Austin, Texas, has recently been extended to Dallas and Houston, and that it is preparing to expand to five additional cities in Arizona, Florida and Nevada.* This article has been translated by AI. 2026-04-23 09:11:59 -
Wall Street Rallies on Extended Iran Ceasefire, Earnings Optimism; S&P 500 and Nasdaq Hit Records President Donald Trump’s extension of a ceasefire with Iran, combined with optimism about corporate earnings, helped lift U.S. stocks to a strong finish on April 22. While Middle East tensions have not fully eased, investors focused more on the ceasefire holding and signs of improving profits than on the immediate risk of a wider war. The Dow Jones Industrial Average rose 340.65 points, or 0.69%, to 49,490.03. The S&P 500 gained 73.89 points, or 1.05%, to 7,137.90, and the Nasdaq climbed 397.60 points, or 1.64%, to 24,657.57. The S&P 500 and Nasdaq both closed at record highs. One driver was the ceasefire extension. Reuters reported that after Pakistan-mediated talks, Trump extended the ceasefire until Iran’s proposal is submitted and consultations are completed. The move did not mean a peace deal was imminent. With the U.S. blockade on Iran continuing and Iran maintaining a hard-line response, markets priced in some chance of de-escalation but did not fully dismiss regional risks. Earnings expectations also supported sentiment. LSEG estimates U.S. companies’ first-quarter profit growth at about 14%. Technology and semiconductor shares led the advance. Micron Technology jumped 8.48%, and the S&P 500 technology sector index rose 2.31%. The Philadelphia Semiconductor Index extended its winning streak to 16 sessions. GE Vernova gained after raising its annual revenue outlook, and Boeing rose after reporting a smaller-than-expected loss. United Airlines fell 5.58% on concerns tied to its earnings outlook. Middle East uncertainty remained. The AP reported that Iran fired on three vessels in the Strait of Hormuz and seized two. With the U.S. maintaining its blockade and maritime clashes adding to tensions, uncertainty around negotiations increased again. Oil prices, trading around $100 a barrel, also remained a potential source of stock-market volatility. Stephen Massocca, a senior vice president at Wedbush Securities, told Reuters that “corporate earnings have been good so far,” adding that “if the war drags on, that trend could weaken, but there are still many undervalued stocks in the market.”* This article has been translated by AI. 2026-04-23 08:15:19 -
KelpDAO Hit by $290M DeFi Hack; Possible Link to North Korea’s Lazarus Cited A major hack has hit the decentralized finance platform KelpDAO, with a North Korea-linked hacking group cited as a possible culprit. The attack has not been officially confirmed as North Korean. LayerZero, which operates the underlying infrastructure, said in a preliminary review that the incident may be connected to the Lazarus Group, specifically a subgroup known as TraderTraitor. LayerZero said on April 21 (local time) that the hack occurred April 18 and caused losses of about $290 million, or about 4.285 trillion won. Investigators believe the attacker interfered with KelpDAO’s process for verifying asset transfers, allowing nonexistent transactions to be approved as if they were legitimate — effectively tricking the validation system to siphon funds. The two sides are disputing how the breach was possible and who is responsible. LayerZero said KelpDAO’s verification design was overly simple, creating a single point of failure. KelpDAO countered that the root cause was a breach of LayerZero-provided infrastructure, not a flaw in KelpDAO’s service. Fallout is spreading. The Arbitrum Security Council froze 30,766 ether tied to the hack, worth about $71 million, or about 104.9 billion won. Crypto lending service Aave also temporarily halted transactions involving assets linked to the incident while it assesses the scale of losses.* This article has been translated by AI. 2026-04-22 11:34:29 -
Fed Chair Nominee Kevin Warsh Denies Being Trump’s ‘Puppet’ as Independence Concerns Persist Kevin Warsh, President Donald Trump’s pick to lead the Federal Reserve, told senators he is not the president’s “puppet,” but investors remain uneasy as Trump continues to publicly demand interest rate cuts. Warsh said at an April 21 Senate Banking Committee confirmation hearing that Trump had not asked him to promise a rate cut at any specific time. “I have not received such a request, and I would not have made such a promise,” he said. Asked by Republican Sen. John Kennedy whether he would become someone’s “human puppet,” Warsh replied, “Absolutely not.” The Washington Post and AFP reported that Warsh repeatedly called the Fed’s independence in monetary policy “essential.” Trump, however, kept up the pressure. Reuters reported that in a CNBC interview just before the hearing, Trump said he would be disappointed if Warsh did not cut rates soon after Senate confirmation. The AP reported that Trump has continued to argue the current rate level, in the mid-3% range, should be lowered to 1%. Democratic Sen. Elizabeth Warren accused Warsh of being Trump’s “sock puppet,” citing what she described as Trump’s rhetoric targeting Fed Chair Jerome Powell and an effort to remove Fed Gov. Lisa Cook. With politics appearing to intrude on central bank personnel and policy, concerns have grown that market anxiety could worsen. Warsh also drew criticism for not clearly distancing himself from Trump on several issues. Reuters reported that he avoided direct answers about an investigation involving Powell, the attempt to dismiss Cook and questions related to the 2020 election results. Bloomberg reported that while Warsh pledged independence, he did not directly address the current level of interest rates. Questions have also surfaced about whether Warsh’s policy stance has shifted. AFP described him as a leading inflation-focused hawk during his time as a Fed governor around the 2008 financial crisis. More recently, he has argued that artificial intelligence could lift productivity, a view that can support lower rates. Warsh’s finances have become another flashpoint. The Washington Post and AP reported he holds more than $100 million in assets and did not fully detail some private equity and unlisted investments, drawing sharp questioning at the hearing. Warsh said he would divest within 90 days if confirmed, but Warren said the disclosures still make it difficult to assess potential conflicts of interest. The confirmation timeline remains uncertain. Reuters and the Washington Post reported that Republican Sen. Thom Tillis has maintained he will block any Fed nominations until the matter involving Powell is resolved. Powell’s term as chair ends on May 15, but if confirmation is delayed, debate could intensify over a leadership gap. The article also noted that even if Powell steps down as chair, he can keep his remaining term as a Fed governor through January 2028, adding to the uncertainty.* This article has been translated by AI. 2026-04-22 11:05:39 -
USFK commander says THAAD remains on Korean Peninsula, urges caution on wartime control transfer U.S. Forces Korea Commander Gen. Xavier Brunson said the Terminal High Altitude Area Defense system, known as THAAD, remains on the Korean Peninsula, seeking to ease concerns that deterrence against North Korea has weakened after reports that some THAAD assets were moved to the Middle East. According to Reuters, Brunson told a U.S. Senate Armed Services Committee hearing on April 21 local time that "we have not moved any THAAD systems" and that THAAD "is still on the peninsula." He said the military is preparing for a forward movement of munitions and noted that it has previously forward-deployed the radar. Brunson said some equipment has not yet returned, but the THAAD system itself has not been relocated. Brunson also said the process of repositioning equipment at Osan Air Base to prepare for munitions movement contributed to confusion. He indicated the controversy grew after details of certain assets and munitions operations became public, not because a battery was withdrawn. On the transfer of wartime operational control, Brunson reaffirmed a conditions-based approach, saying the decision should be guided by the combined defense posture, operational capability and the security environment rather than political judgment or a set timetable. On the future posture of U.S. forces in South Korea, he said capability matters more than troop numbers, emphasizing what forces can actually be deployed and operated over the size of the force alone.* This article has been translated by AI. 2026-04-22 10:15:54