Sources indicate that Saudi Arabia plans to expand its oil pipeline along the Red Sea, bypassing the Strait of Hormuz and increasing its daily transport capacity by 2 million barrels.
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Shipping data: At least five very large crude carriers (VLCCs) loaded with crude oil from Saudi Arabia have sailed out of the Strait of Hormuz.
According to trade sources and shipping data, at least five very large crude carriers (Odaily) have loaded a total of 10 million barrels of Saudi crude oil from Saudi Arabia's Ras Tanura port and have sailed out of the Strait of Hormuz. (Jinshi)
Saudi Arabia drastically cut crude oil prices, with the largest drop in at least 26 years.
Odaily Odaily reports that Saudi Arabia has cut its official selling prices for key crude oil grades to Asian customers in August, the largest reduction in at least 26 years, as surging global supply intensifies competition for buyers. According to a price list, Saudi Aramco lowered the price of its Arab Light crude oil exports to Asia by $11 per barrel in August, representing a discount of $1.50 per barrel to the regional benchmark price. This reduction is larger than the $8 per barrel expected in institutional surveys. Middle Eastern crude oil prices have recently declined. After resuming exports from the Rastanura port on the Persian Gulf, Saudi Aramco had increased its crude oil shipments to approximately 90% of pre-war levels. Before the war, Rastanula was Saudi Arabia's main port of call for crude oil exports. Due to the war's blockade of the Strait of Hormuz, Saudi Aramco diverted most of its crude oil to the port of Yanbu on the Red Sea. Previously, the OPEC+ oil-producing group had agreed to continue a small production increase in August. Now, with the resumption of shipping through the Strait of Hormuz, Gulf oil-producing countries such as Saudi Arabia, Iraq, and Kuwait will be able to utilize their higher quotas. (Jinshi)
Mistral and HUMAIN Are Building 'Sovereign AI' in Saudi Arabia
Mistral and HUMAIN announced plans to build sovereign AI infrastructure in Saudi Arabia and across the region—a tie-up valued in the hundreds of millions of euros that deepens Gulf money flowing into European AI.
Bitunix Analyst: Canceling Iranian Oil Waivers and Deteriorating Hormuz Situation Increase Risk Asset Volatility
According to BlockBeats, on July 8th, global markets were focused on the renewed deterioration of the situation in the Middle East. The US not only expanded its military strikes against Iran but also revoked waivers for Iranian oil sales, further escalating security risks in the Strait of Hormuz. International oil prices surged by approximately 5%, reflecting the market's re-inflation of energy supply uncertainty. The situation is no longer just a simple military conflict; rather, it involves a simultaneous increase in risks to energy transportation and the global supply chain. Iran continues to strengthen its claims to control the Strait of Hormuz, while the US military has raised the local shipping threat level to "serious," indicating that global energy transportation remains highly volatile. On the other hand, Saudi Arabia's plan to expand its Red Sea oil pipeline shows that major oil-producing countries have already planned alternative transportation routes to reduce their dependence on the Strait of Hormuz. Regarding monetary policy, New York Federal Reserve President Williams stated that lower energy prices have helped improve short-term inflation, but policy remains in an appropriate position. He did not provide clear guidance on future interest rate direction, and the Fed will continue to adjust policy based on economic data. It is worth noting that the risks in the US technology sector have also increased simultaneously. Nasdaq 100 volatility has reached a two-decade high, with AI-related trading remaining highly concentrated. Some Wall Street institutions have begun using options for hedging and are gradually shifting funds towards defensive sectors such as healthcare and consumer staples, reflecting profit-taking pressure on highly valued tech stocks. In the crypto market, Bitcoin remains range-bound. Short-term market liquidity is mainly concentrated in four key liquidation zones: $62,500 and $60,000 on the downside, and $64,300 and $67,700 on the upside. With continued macroeconomic disruptions, prices may still see liquidity liquidation around highly leveraged positions, and short-term volatility is expected to remain high. The market will continue to monitor developments in the Middle East, oil prices, and global risk sentiment.
Anthropic plans to acquire Australian data center computing resources.
According to Mars Finance, Australian sources indicate that artificial intelligence company Anthropic plans to secure at least 1.4 million kilowatts of data center computing power in Australia, with a total investment potentially reaching $15 billion. Australian media, citing a confidential tender document, reports that Anthropic plans to activate at least 1 million kilowatts of computing power by the end of next year at the latest. The report states that the AI company's baseline plan is to find long-term partners to jointly build a data center campus with a total capacity of 1.4 million kilowatts. Anthropic is about six weeks away from making a final investment decision, and this large deal may be broken down into four to five smaller cooperation agreements. (Cailian Press)
Saudi Arabia exits China-backed mBridge CBDC project: FT
Saudi Arabia has left mBridge, a cross-border CBDC platform that has drawn scrutiny from US policymakers, according to the Financial Times.