30/05/2026
Weekly digest: Oil prices fall as chipmakers join $1tn club
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1/8🛢️ Oil prices drop. Oil prices fell by over 3% midweek as the number of ships passing through the Strait of Hormuz increased, despite peace talks between the US and Iran being dampened by fresh US strikes on Iran. (Reuters)
2/8🥇 Gold loses shine. Gold rose 0.5% to $4,520/oz on Friday after reports of a possible US-Iran ceasefire extension, but remained on track for a third straight monthly loss as inflation and high-rate worries weighed.
3/8💾 Chipmakers join $1tn club. Micron Technology and SK Hynix both joined the $1 trillion club on Wall Street this week, albeit only briefly for the former. Both companies have seen share prices jump ten-fold in the last year, and join Samsung Electronics, which hit $1tn on 6 May. (Reuters)
4/8 🇩🇪 German growth forecast cut. The German Council of Economic Experts has cut its growth expectations in Europe’s largest economy from 0.9% to 0.5%, driven largely by conflict in the Middle East, high energy prices and US trade policy. (Reuters)
5/8 ₿ Bitcoin demand cools. After hitting around $126,000 in October, bitcoin is now struggling to break above $80,000, as US spot-bitcoin ETFs have seen net outflows of about $1 billion in May so far. Volatility is also nearing an all-time low, as the Bitcoin Volmex Implied Volatility Index fell to 36.11 on Monday. (Bloomberg)
6/8📈 Stoxx 600 on the up. European stocks this week approached a record high last seen in February, driven by a global rally in tech, falling oil prices, easing concerns around inflation and cooling geopolitical tensions. (Bloomberg)
7/8🇺🇸 US launches further strikes. Iran has accused the US of a “gross violation” of a ceasefire by targeting areas near the Strait of Hormuz. The US responded saying the attacks were a defensive move against missile sites and mine-laying boats. (Reuters)
8/8🇺🇦 Clash over Kyiv strikes. The US urged Russia not to carry out further strikes on Kyiv after an attack that Ukraine said killed at least two civilians and injured around 100. Russia said it had targeted military and intelligence sites, and said the strikes followed a Ukrainian attack on Donetsk. (Reuters)