21Shares: Bitcoin Poised to Reach $138,555 by Year-End, Supported by Macro Resilience and On-Chain Data

Qatar is assembling a group of empty LNG (liquefied natural gas) carriers in the Persian Gulf, suggesting that one of the world's major LNG exporters may be preparing to increase exports through the Strait of Hormuz. According to analysis from foreign media based on satellite images and ship-tracking data, at least twelve empty LNG carriers owned or leased by QatarEnergy are currently waiting in waters near Qatar. These vessels have a combined loading capacity of about 1.1 million tons of LNG, which is approximately 2% of the total global LNG shipping fleet capacity. However, even if these ships are fully loaded, it does not guarantee that they will eventually pass through the Strait of Hormuz, especially as attacks on vessels by Iran have intensified recently. According to a report by Athens News Agency on Tuesday citing sources from the Greek shipping sector, an LNG carrier owned by a Greek shipowner was recently attacked near the Strait of Hormuz but continued its voyage afterward.

According to Zhitong Finance APP, the oil trading business is expected to deliver strong results in the third quarter, as tightening global fuel supplies have pushed refining margins to record highs.

October 7th - Chipmaker Intel (INTC.O) shares rose 1.5% in pre-market trading to $114.23. According to Bloomberg, CEO Chen Liwu stated that Intel (INTC) will continue its involvement in Elon Musk’s Terafab chip manufacturing project. This report comes just days after Musk revealed that TSMC (2330.TW) and Terafab had discussed potential cooperation. Terafab is a chip manufacturing plant planned by Elon Musk to produce artificial intelligence chips for Tesla and SpaceX. Intel and Tesla did not immediately respond to Reuters’ request for comment outside regular business hours. As of the previous trading day’s close, Intel (INTC) had more than tripled its gains so far this year (For the convenience of non-English speakers, Reuters provides automated translations of its reports into several other languages. As automated translations may have inaccuracies or fail to deliver the intended context, Reuters does not guarantee the accuracy of the automated texts and provides them purely for reader convenience. Reuters accepts no liability for any damages or losses resulting from the use of automated translation functions.).

The euro has fallen against the Canadian dollar for the third consecutive trading day, hovering around 1.5920 during Wednesday’s European session. Despite Germany’s stronger-than-expected industrial performance, the euro remains under pressure, causing the EUR/CAD pair to continue its decline. Official data show that German industrial output surged by 2% month-on-month in September, far exceeding the market’s forecast of 0.5% and reversing August’s 1.2% decline. Year-on-year, industrial output rose by 2.3%, compared to a previous decrease of 1.6%. However, these strong economic figures were overshadowed by prevailing risk-averse sentiment, and the euro remained pressured. Escalating geopolitical tensions in the Middle East pushed Brent crude prices back above 100 dollars per barrel, sparking concerns over energy-driven inflation and a slowdown in eurozone economic growth. Rising oil prices provided solid support for the Canadian dollar, which is highly correlated with commodity prices, further weighing on the euro. As long as global energy supply risks continue to drive up oil prices, the strength of the Canadian dollar may continue to drag down the EUR/CAD exchange rate.