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Oil prices edged higher on Tuesday following a more than 2% decrease in both major crude benchmarks the previous day. Brent crude increased by 27 cents to trade at $92.44 per barrel at 0330 GMT, while U.S. West Texas Intermediate added 37 cents, reaching $85.38. This upward move came after a six-day rally that was halted by Monday’s broad market retreat in energy assets.
Alibaba Group has announced the pricing of an HK$80 billion share issuance as part of its strategy to boost investments in artificial intelligence and cloud technology infrastructure. The Chinese tech giant will distribute 710 million new ordinary shares at HK$112.70 each, valuing the offering at approximately US$10.2 billion based on current exchange rates. The company expects the deal to close on Aug. 26, subject to standard closing conditions. The funds raised are earmarked for expanding its AI operations.
PanStar Acro is carrying commercial cargo on South Korea’s Arctic shipping trial. During this journey, the ship will carry a cargo of 837 TEU, which includes 737 TEU of commercial freight such as chemical products, used vehicles, and automotive components, along with 100 empty containers. The vessel is operating under government support and is managed by PanStar Line. It is expected to enter Arctic waters around August 30, with the Arctic segment spanning roughly 6,400 kilometers and scheduled to conclude around September 7, based on the current timetable. Following its passage through Arctic conditions, PanStar Acro will continue to three designated European ports. The first stop will be Felixstowe in Britain on September 9, with Rotterdam scheduled for September 11. The vessel then plans to arrive at Gdansk on September 15. The return journey to South Korea will follow the same northern corridor, with the route from Busan to Rotterdam covering approximately 13,000 kilometers, significantly shorter than the nearly 20,000 kilometers via the Suez Canal. Commercial freight tests the viability of Arctic shipping lane To prepare for the challenging conditions of the northern passage, South Korean authorities provided specialized training for navigation officers in polar waters prior to departure. An experienced polar navigator, who previously served aboard the icebreaking research vessel Araon, joined as chief officer. The team also addressed insurance coverage, emergency protocols, and international administrative requirements. Throughout the Arctic segment, a 24/7 communications system
Record exports met an even larger import bill in Japan during July 2026. For the second month in a row, imports hit a record high, with crude oil accounting for a significant portion of the increase. Japan imported 5.5% more crude in volume compared to July 2025, while the shipment values soared by 87.8% over the same timeframe. These figures reflect considerably higher energy costs at a time when Japan remains heavily reliant on imported oil and other fuels for domestic use. Exports also reached a monthly record, extending their streak of year-on-year growth to 11 months. The July increase of 23.2% followed a 19.3% rise in June. Semiconductor-related products continued to be a key driver of export expansion. Increased demand for artificial intelligence infrastructure and data centres supported shipments of technology components and equipment. Additionally, the weakening yen boosted the yen value of overseas sales, contributing to the sharp rise in Japan’s total export figures.
U.S. equities finished on a higher note Wednesday, with the S&P 500 climbing 16.22 points, or 0.21%, to close at 7,707.98. The Dow Jones Industrial Average increased by 119.65 points, or 0.22%, ending the day at 53,463.05. The Nasdaq Composite added 41.38 points, or 0.16%, reaching 26,331.09. These gains ended a three-day losing streak across all three major U.S. stock indexes.
The US Federal Reserve and market analysts observed a downturn in global precious metals markets on Friday, with spot gold prices declining and signaling a potential weekly decrease. Data showed that spot gold slipped 0.5 percent to trade at $4,326.75 per ounce, while United States gold futures for December delivery fell nearly 1.0 percent to $4,382.50 per ounce. These market declines followed a sharp, temporary rally on Thursday, when bullion prices reached their highest levels in over two months before retreating 1.3 percent amid sudden profit-taking.