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BlockBeats News, May 15th - In response to a user suggesting that he join the cryptocurrency circle, Jia Yueting (Luo Yonghao) said, "You want me to learn from you? If I had no shame, I would have conducted an ICO to scam people in 2018 and bought a small island for retirement long ago. Back then, many scammers approached me, saying that I didn't even need to endorse their projects publicly. They just asked me to stay silent and they would send me a certain amount. I have mentioned this to the media before."

⑴ Asia’s naphtha refining margins fell on Friday, as continued supply concerns in the Strait of Hormuz pushed crude oil prices higher. The naphtha cracking spread narrowed to about $243 per ton above Brent crude oil, down from $266.88 the previous day. The backwardation for cargoes loading in the second half of June versus the second half of July narrowed from $60 per ton to $54 per ton. ⑵ In the gasoline market, the price of high-octane 95 gasoline dropped about $3 to $136.50 per barrel, with the crack spread over Brent crude narrowing to $21.66 per barrel. Two naphtha deals and one gasoline deal were concluded in Singapore’s spot trading window. ⑶ Asia’s diesel market was largely steady on Friday, but both the crack spread and the spot premium recorded weekly gains. Spot sales by refineries for June loading are in full swing, with at least three major Northeast Asian refineries selling at single-digit premiums. The crack spread held around $52 per barrel, up about $2 from a week earlier. ⑷ In fuel oil, the hi-5 spread widened this week to above $92 per ton, rising by more than 14% from last week. Ultra-low sulfur fuel oil is experiencing spot tightness due to limited supply of blending components, while high sulfur fuel oil supply remains ample. No spot trades were concluded for diesel or jet fuel in Singapore’s spot window.

Driven by optimism over strong chip manufacturing performance, investors are shrugging off inflation concerns and continuing to pursue AI-driven tech stocks. According to data from London Stock Exchange Group (LSEG Lipper), global equity funds saw a net inflow of $39.15 billion in the past week, marking the largest single-week net inflow since April 22 (which was $48.55 billion).