{"id":53491,"date":"2025-09-23T03:08:34","date_gmt":"2025-09-23T07:08:34","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-markets-react-to-oil-supply-surge-crypto-expansion-and-tech-earnings\/53491\/"},"modified":"2025-09-23T03:08:34","modified_gmt":"2025-09-23T07:08:34","slug":"global-markets-react-to-oil-supply-surge-crypto-expansion-and-tech-earnings","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-oil-supply-surge-crypto-expansion-and-tech-earnings\/53491\/","title":{"rendered":"Global Markets React to Oil Supply Surge, Crypto Expansion, and Tech Earnings"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-oil-supply-surge-crypto-expansion-and-tech-earnings\/53491\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-oil-supply-surge-crypto-expansion-and-tech-earnings\/53491\/#Oil_Market_Faces_Oversupply_as_Iraqi_Pipeline_Restarts\" >Oil Market Faces Oversupply as Iraqi Pipeline Restarts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-oil-supply-surge-crypto-expansion-and-tech-earnings\/53491\/#Bithumb_Partners_with_Trump_Family-Linked_WLFI_for_DeFi_Expansion\" >Bithumb Partners with Trump Family-Linked WLFI for DeFi Expansion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-oil-supply-surge-crypto-expansion-and-tech-earnings\/53491\/#Raspberry_Pi_Reports_Stronger_H1_Profitability_Amid_Demand_Pickup\" >Raspberry Pi Reports Stronger H1 Profitability Amid Demand Pickup<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-oil-supply-surge-crypto-expansion-and-tech-earnings\/53491\/#UBS_Adjusts_Phillips_66_Target_Price_to_150\" >UBS Adjusts Phillips 66 Target Price to $150<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-oil-supply-surge-crypto-expansion-and-tech-earnings\/53491\/#UK_Payment_Regulation_Plan_Receives_Positive_FCA_Response\" >UK Payment Regulation Plan Receives Positive FCA Response<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Oil prices declined for a fifth consecutive session<\/strong> as Iraq and Kurdish authorities agreed to restart a key pipeline, poised to add <strong>230,000 barrels per day<\/strong> to global supply amidst oversupply concerns.<\/li>\n<li>South Korean crypto exchange <strong>Bithumb<\/strong> has partnered with <strong>World Liberty Financial (WLFI)<\/strong>, a DeFi project linked to the <strong>Trump family<\/strong>, for significant expansion into the robust South Korean market, despite initial <strong>WLFI token volatility<\/strong>.<\/li>\n<li><strong>Raspberry Pi (<a href=\"\/stock\/RPI\">RPI<\/a>)<\/strong> reported stronger-than-expected first-half profitability with <strong>revenue up 61% to $144.0 million<\/strong>, signaling a recovery in demand and successful new product introductions.<\/li>\n<li><strong>UBS (<a href=\"\/stock\/UBS\">UBS<\/a>) adjusted its price target for Phillips 66 (<a href=\"\/stock\/PSX\">PSX<\/a>) to $150 from $173<\/strong>, maintaining a &quot;Buy&quot; rating, following the company&#39;s strategic acquisition of the remaining stake in WRB Refining LP.<\/li>\n<li>The <strong>UK&#39;s Financial Conduct Authority (FCA)<\/strong> has responded positively to a government plan to streamline payment systems regulation, aiming to foster <em>innovation, competition, and security<\/em> in the sector.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Oil_Market_Faces_Oversupply_as_Iraqi_Pipeline_Restarts\"><\/span>Oil Market Faces Oversupply as Iraqi Pipeline Restarts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Oil prices continued their downward trend for a fifth straight session on Tuesday, driven by concerns of oversupply. Both <strong>Brent crude futures<\/strong> and <strong>U.S. West Texas Intermediate (WTI) crude<\/strong> saw declines, with Brent falling 0.63% to <strong>$66.15 a barrel<\/strong> and WTI down 0.58% to <strong>$61.92 a barrel<\/strong>. Both contracts have now lost approximately 4% over the past five sessions.<\/p>\n<p>The primary catalyst for this decline is a preliminary agreement between <strong>Iraq&#39;s federal government<\/strong> and the <strong>Kurdish regional government<\/strong> to restart crude exports via Turkey. This breakthrough will allow approximately <strong>230,000 barrels per day (bpd)<\/strong> of crude to resume flowing from Iraqi Kurdistan, exports that have been suspended since March 2023. <em>LSEG senior analyst Anh Pham noted that oversupply concerns and an uncertain demand outlook are pressuring prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bithumb_Partners_with_Trump_Family-Linked_WLFI_for_DeFi_Expansion\"><\/span>Bithumb Partners with Trump Family-Linked WLFI for DeFi Expansion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>South Korean cryptocurrency exchange <strong>Bithumb<\/strong> has announced a strategic partnership with <strong>World Liberty Financial (WLFI)<\/strong>, a decentralized finance (DeFi) project associated with the <strong>Trump family<\/strong>. This collaboration aims to boost DeFi expansion and strengthen global investor confidence. WLFI&#39;s governance token and its stablecoin, <strong>USD1<\/strong>, have been listed on major Korean exchanges including <strong>Upbit<\/strong>, <strong>Bithumb<\/strong>, and <strong>Coinone<\/strong>.<\/p>\n<p><strong>Donald Trump Jr.<\/strong> and <strong>Eric Trump<\/strong> are listed as co-founders and hold key executive roles within World Liberty Financial, with <strong>President Donald Trump<\/strong> serving as an honorary co-founder. The Trump family&#39;s cryptocurrency holdings are estimated to be worth around <strong>$5 billion<\/strong>, representing approximately <strong>25% of the total WLFI token supply<\/strong>. Despite the high-profile backing, the WLFI token experienced a <em>volatile debut<\/em>, plunging about <strong>20% from its listing price<\/strong> shortly after trading began.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Raspberry_Pi_Reports_Stronger_H1_Profitability_Amid_Demand_Pickup\"><\/span>Raspberry Pi Reports Stronger H1 Profitability Amid Demand Pickup<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Raspberry Pi Holdings plc (<a href=\"\/stock\/RPI\">RPI<\/a>)<\/strong> announced its results for the six months ended June 30, 2024, revealing stronger-than-expected profitability. The company reported a significant <strong>61% increase in revenue to $144.0 million<\/strong> compared to the supply-constrained first half of 2023. <strong>Adjusted EBITDA<\/strong> also saw a substantial rise of <strong>55% to $20.9 million<\/strong>, with gross profit reaching <strong>$34.2 million<\/strong>, up 47%. While basic earnings per share (EPS) decreased by 11% to 3.92 cents, adjusted EPS grew by 27% to 5.84 cents.<\/p>\n<p>The company has successfully completed its recovery from pandemic-related supply shortages, with most of its <strong>Single Board Computers (SBCs)<\/strong> and <strong>Compute Module products<\/strong> now freely available. CEO Eben Upton expressed confidence in <em>gradual improvements in end-demand for 2025<\/em> and increased engagement with direct-to-OEM channels. New product introductions, including the <strong>Raspberry Pi 5<\/strong> and the <strong>Raspberry Pi AI Kit<\/strong>, are expected to support future growth.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"UBS_Adjusts_Phillips_66_Target_Price_to_150\"><\/span>UBS Adjusts Phillips 66 Target Price to $150<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>UBS (<a href=\"\/stock\/UBS\">UBS<\/a>)<\/strong> has adjusted its price target for refining giant <strong>Phillips 66 (<a href=\"\/stock\/PSX\">PSX<\/a>)<\/strong> to <strong>$150 from $173<\/strong>, while reiterating a &quot;Buy&quot; rating on the stock. This adjustment follows Phillips 66&#39;s strategic move to acquire the remaining <strong>50% ownership interest in WRB Refining LP<\/strong> from <strong>Cenovus Energy subsidiaries<\/strong> for <strong>$1.4 billion in cash<\/strong>.<\/p>\n<p>The acquisition is expected to enhance Phillips 66&#39;s refining capacity by approximately <strong>250,000 barrels per day<\/strong>. UBS highlighted that the Central Corridor remains Phillips 66&#39;s most profitable region, and the newly acquired assets are anticipated to generate <em>higher profits in 2026 than in 2025<\/em>. Analysts polled by Capital IQ currently give Phillips 66 an average rating of &quot;outperform&quot; with price targets ranging from <strong>$122 to $182<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"UK_Payment_Regulation_Plan_Receives_Positive_FCA_Response\"><\/span>UK Payment Regulation Plan Receives Positive FCA Response<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>UK Financial Conduct Authority (FCA)<\/strong> has responded positively to the government&#39;s consultation on the future of payment systems regulation. This plan aims to create a <em>more streamlined and clear regulatory framework<\/em> for the UK&#39;s dynamic payments landscape. A key proposal involves consolidating the responsibilities of the <strong>Payment Systems Regulator (PSR)<\/strong> within the FCA&#39;s existing framework, thereby reducing regulatory burden and overlapping functions.<\/p>\n<p><strong>David Geale<\/strong>, FCA Executive Director, Payments and Digital Finance, and PSR Managing Director, stated that the consolidation is an &quot;important next step in simplifying and clarifying payments regulation.&quot; The FCA is committed to ensuring a clear, predictable, and proportionate framework that supports innovation, competition, and security. This initiative is part of a broader effort to strengthen safeguarding practices for customer funds and improve the FCA&#39;s ability to intervene in firms that do not meet expectations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Oil prices declined for a fifth consecutive session as Iraq and Kurdish authorities agreed to restart a key 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