News

Jefferies Group stated on July 1 via Gelonghui that once South32 completes the transaction to sell its aluminum-related assets (excluding the idle Mozal smelter) to Alcoa, the company is expected to accelerate capital management initiatives. These initiatives may include larger-scale share buybacks, and the possibility of adopting a more aggressive external M&A expansion strategy cannot be ruled out.

(1) Analysis: The reopening of navigation in the Strait of Hormuz has brought supply back into the market, easing concerns over a disruption in Middle Eastern supply and causing risk premiums to continue to retreat. At the same time, indirect communications between the US and Iran remain uncertain, but short-term expectations of supply surplus dominate pricing. EIA inventory and US travel season demand provide partial support, but are unlikely to change the overall pressured structure. Technically, prices are oscillating around $70, with direction yet to be confirmed.(2) Key focus: Geopolitical situation, inventory data, US Dollar Index(3) Resistance: 70.50, 71.00, 71.80(4) Support: 69.50, 69.00, 68.50

BlockBeats News, July 1st, a man from Florida, USA, Christopher Alexander Delgado, pleaded guilty to multiple charges including telecom fraud and money laundering. The prosecution stated that he carried out a Ponzi scheme under the name of "Cryptocurrency Liquidity Pool Investment Return" through Goliath Ventures (formerly Gen-Z Venture Firm), attracting approximately $4 billion in investment funds, resulting in actual losses of around $2.5 billion. The related funds were used to purchase multiple million-dollar mansions, Lamborghinis and Rolls-Royces, as well as a large amount of luxury goods and jewelry, and were spent on high-end parties and travel. Currently, he has agreed to forfeit multiple assets, including real estate, vehicles, and luxury goods.