Finance

Crude oil prices have plummeted this week following the signing of a memorandum of understanding between the United States and Iran to extend a ceasefire and reopen the Strait of Hormuz. This geopolitical breakthrough has significantly eased supply concerns, leading Brent crude to trade near $80 per barrel after a peak earlier this year.

Chipmakers outperformed the broader market this week, with the Philadelphia Semiconductor Index reaching a record high following a major manufacturing partnership between Intel and Apple. Micron Technology shares also surged in anticipation of its upcoming earnings report, which investors are using as a benchmark for sustained demand in AI-specialized memory chips.

Bitcoin and Ethereum have extended their declines for a fourth consecutive day as market sentiment sours over potential forced liquidations from major holders and stressed miners. Analysts are closely watching critical support levels near $60,000, as derivatives data indicates rising demand for protective puts and a bearish shift in funding rates.