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News alert: Oil's rough year
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Global demand is set to fall for the first time since COVID.
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Global oil demand is on track to
contract for the first time since the COVID pandemic
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Global oil demand is poised to fall by one million barrels per day in 2026 — the first annual contraction since COVID froze the global economy in 2020 — as the Middle East war continues to strangle regional oil flows, the IEA said Friday. The worst of the downturn
appears to be behind us: a 4.8 million barrel-a-day collapse in the second quarter is expected to give way to a gradual recovery through year-end. But fresh fighting between U.S. and Iranian forces this week has brought Strait of Hormuz traffic nearly to a standstill again, clouding the outlook.
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<td class="editor-cell-text td100" colspan="4" style="background-color:#EFEFEF;padding:10px;font-size:15px;font-family:Arial,Helvetica,sans-serif;width:66.6667%;line-height:1.4;vertical-align:top;color:#000000;mso-line-height-rule:exactly">
<div>
<strong style="color: var(--blue-cta-default)">
<a data-linktext="The Senate panel will vote on a bill to ban Chinese vehicles." data-linktype="Normal" style="color:#105C8E" target="_blank">
The Senate panel will vote on a bill to ban Chinese vehicles.
</a>
</strong>
The legislation would make permanent a rule that already blocks Chinese cars. A related provision could affect automakers with some Chinese ownership, including Mercedes-Benz. General Motors and the UAW back the measure.
</div>
</td>
</tr>
<tr style="background-color:#EFEFEF">
<td class="td100" colspan="6" height="24" style="background-color:#EFEFEF;width:100%;height:24px;font-size:1px;vertical-align:top;font-family:Arial,Helvetica,sans-serif;color:#000000">
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</td>
</tr>
<tr class="trpad10" style="background-color:#EFEFEF">
<td align="left" class="editor-cell-image td100" colspan="2" style="background-color:#EFEFEF;background-repeat:no-repeat;background-size:auto;vertical-align:middle;width:33.3333%;text-align:left;font-family:Arial,Helvetica,sans-serif;font-size:16px;color:#000000">
<a aria-label="Bloomberg / Getty Images" style="color:#168DD9" target="_blank" title="Bloomberg / Getty Images">
<img alt="Bloomberg / Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2271917832.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3ODM2ODkxNDMuMDY5NjgzNn0:1wiB1j:AQT_3TueWDKmPP5wMzP_YcjI_8yna8mSFx0sDw5H3PI" style="width:200px;max-height:338px;vertical-align:middle;border:0" width="200"/>
</a>
</td>
<td class="editor-cell-text td100" colspan="4" style="background-color:#EFEFEF;padding:10px;font-size:15px;font-family:Arial,Helvetica,sans-serif;width:66.6667%;line-height:1.4;vertical-align:top;color:#000000;mso-line-height-rule:exactly">
<div>
<strong style="color: var(--blue-cta-default)">
<a data-linktext="SK Hynix's U.S. listing is more than seven times oversubscribed." data-linktype="Normal" style="color:#105C8E" target="_blank">
SK Hynix's U.S. listing is more than seven times oversubscribed.
</a>
</strong>
The company attracted significant institutional demand for the 177.9 million shares on offer, putting it on track to
raise about $25.71 billion and top Alibaba's 2014 offering as the largest ever. Proceeds will help expand chip plants.
</div>
</td>
</tr>
<tr style="background-color:#EFEFEF">
<td class="td100" colspan="6" height="24" style="background-color:#EFEFEF;width:100%;height:24px;font-size:1px;vertical-align:top;font-family:Arial,Helvetica,sans-serif;color:#000000">
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<td align="left" class="editor-cell-image td100" colspan="2" style="background-color:#EFEFEF;background-repeat:no-repeat;background-size:auto;vertical-align:middle;width:33.3333%;text-align:left;font-family:Arial,Helvetica,sans-serif;font-size:16px;color:#000000">
<a aria-label="NurPhoto / Getty Images" style="color:#168DD9" target="_blank" title="NurPhoto / Getty Images">
<img alt="NurPhoto / Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2270583435.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3ODM2ODkxNDMuMDY5Nzk1fQ:1wiB1j:upj8JXiA_VIPngPsqX8c36-sAuf3m6cyjoHrM6nHBhQ" style="width:200px;max-height:338px;vertical-align:middle;border:0" width="200"/>
</a>
</td>
<td class="editor-cell-text td100" colspan="4" style="background-color:#EFEFEF;padding:10px;font-size:15px;font-family:Arial,Helvetica,sans-serif;width:66.6667%;line-height:1.4;vertical-align:top;color:#000000;mso-line-height-rule:exactly">
<div>
<strong style="color: var(--blue-cta-default)">
<a data-linktext="China flags a backdoor flaw in Anthropic's Claude Code." data-linktype="Normal" style="color:#105C8E" target="_blank">
China flags a backdoor flaw in Anthropic's Claude Code.
</a>
</strong>
China's vulnerability database says the tool secretly sent users' location and identity data to outside servers without their consent. Anthropic notes access to Claude Code is barred in China, making affected users unauthorized to begin with.
</div>
</td>
</tr>
<tr style="background-color:#EFEFEF">
<td class="td100" colspan="6" height="24" style="background-color:#EFEFEF;width:100%;height:24px;font-size:1px;vertical-align:top;font-family:Arial,Helvetica,sans-serif;color:#000000">
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<a aria-label="Laurent Hou/Hans Lucas / AFP via Getty Images" style="color:#168DD9" target="_blank" title="Laurent Hou/Hans Lucas / AFP via Getty Images">
<img alt="Laurent Hou/Hans Lucas / AFP via Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2256811527.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3ODM2ODkxNDMuMDY5OTExfQ:1wiB1j:8uWfu4XFYZt72XJz7G761EXJF9i-yrUq6kQA4cN5z6s" style="width:200px;max-height:338px;vertical-align:middle;border:0" width="200"/>
</a>
</td>
<td class="editor-cell-text td100" colspan="4" style="background-color:#EFEFEF;padding:10px;font-size:15px;font-family:Arial,Helvetica,sans-serif;width:66.6667%;line-height:1.4;vertical-align:top;color:#000000;mso-line-height-rule:exactly">
<div>
<strong style="color:#105C8E">
<a data-linktext="Meta will begin production of its Iris chip in September." data-linktype="Normal" style="color:#105C8E" target="_blank">
Meta will begin production of its Iris chip in September.
</a>
</strong>
The processor, built with Broadcom and made by Taiwan Semiconductor, passed six weeks of testing with no major
issues. Meta hopes to cut its reliance on Nvidia and AMD as AI spending nears $145 billion this year.
</div>
</td>
</tr>
<tr style="background-color:#EFEFEF">
<td class="td100" colspan="6" height="24" style="background-color:#EFEFEF;width:100%;height:24px;font-size:1px;vertical-align:top;font-family:Arial,Helvetica,sans-serif;color:#000000">
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</table>
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<table align="center" style="width:100%;border-collapse:collapse;margin-left:auto;margin-right:auto">
<tbody style="padding:0;margin:0;touch-action:auto">
<tr style="margin:0">
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</a>
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<table align="center" border="0" cellpadding="0" cellspacing="0" style="border:0 #9B9B9B;height:1px;width:100%;text-align:center;background-color:#999999;color:#9B9B9B;margin:0 auto;border-left-width:0;border-right-width:0">
<tr>
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<table align="center" border="0" cellpadding="0" cellspacing="0" class="email-cell-group" style="border-collapse:collapse;width:100%;table-layout:fixed;margin-left:auto;margin-right:auto">
<colgroup>
<col width="17%"/>
<col width="17%"/>
<col width="17%"/>
<col width="17%"/>
<col width="17%"/>
<col width="17%"/>
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<a data-linktext="TERMS OF SERVICE" data-linktype="Normal" style="color:#168DD9;text-decoration:none" target="_blank">
TERMS OF SERVICE
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|
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<a data-linktext="PRIVACY POLICY" data-linktype="Normal" style="color:#168DD9;text-decoration:none" target="_blank">
PRIVACY POLICY
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848 N. Rainbow Blvd. 3017 Las Vegas, NV 89107 United States
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