News

BlockBeats News, June 24th, affected by the resumption of navigation in the Strait of Hormuz, oil prices dropped to their lowest level since the outbreak of the conflict. According to the US-Iran agreement, more ships have resumed passage through the Strait of Hormuz, alleviating market concerns about the disruption of crude oil transport. Trump stated that Iran has not charged tolls or any other fees for vessels using the route. In addition, rising supply, weakening demand, and a stronger dollar have also put pressure on oil prices. However, supply-related risks still persist.

On June 24, Bloomberg reported that Meta Platforms Inc. and Microsoft Corp. each committed billions of dollars in additional data center leasing expenditures during their most recent fiscal quarters, further increasing the overall investment in the AI sector. These commitments have pushed the total future data center leasing commitments of major cloud computing companies to over $850 billion. An analysis of regulatory filings shows that as tech giants compete to expand their server clusters, the amounts of these leasing commitments have continued to rise over the past year. These future leasing costs are additional to existing leasing contracts and will not appear on the balance sheet until the companies begin actual payments. While these leasing commitments typically pertain to data centers, they may also encompass facilities such as offices or warehouses. Some leasing contracts include specific clauses that allow companies to terminate future performance obligations under certain conditions.

On June 24, the near-term spread of Brent crude oil turned to a futures premium for the first time since February.