Iran scraps Trump peace talks over Israeli strikes on Lebanon, sending markets lower
- U.S.-Iran talks were called off after Israeli strikes on Lebanon, and JD Vance canceled his Switzerland trip.
- Brent fell to $79.49, while WTI slipped to $76.36 as peace hopes weakened.
- Iran allowed tankers carrying more than 12 million barrels through Hormuz without firing on ships.
- Asian markets were mixed, OPEC stayed bullish on oil demand, and several major exchanges were closed.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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After Toshiba reported news of HDD production expansion, Morgan Stanley turned more bullish rather than bearish.
Morgan Stanley’s research indicates that the market has seriously overestimated Toshiba’s expansion scale — the doubling of capacity at its Philippines plant over two years translates to an annualized growth rate of about 30%, which is similar to the overall industry supply growth rate and far lower than demand growth. More importantly, channel checks show that Seagate and Western Digital have no intention of following suit with capacity expansion, and there are no signs of loosening in industry pricing.
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