WS #15358

Geopolitical tensions have escalated sharply, with the G7 announcing a coordinated release of 100 million barrels of strategic oil reserves to counter supply disruptions in the Gulf. This intervention dampens the immediate bearish impact on global indices but signals that underlying supply risks remain acute. Concurrently, Ukraine has struck a major fuel depot in the Moscow region, adding a secondary energy supply shock that complicates the G7's stabilization efforts. Chinese refiners have simultaneously paused October fuel exports to manage domestic shortages, tightening global liquidity further. In the technology sector, AMD CEO Lisa Su provided a bullish counter-narrative to recent semiconductor volatility, citing 'very high' chip demand and praising TSMC's expansion. This development offsets broader macro fears regarding AI capex slowdowns. Meanwhile, Alphabet is nearing a landmark $1 billion nuclear power deal with Constellation Energy, reinforcing the thesis that AI-driven energy demand is a structural, long-term tailwind for both tech and utility sectors. Bitcoin remains under pressure, trading 32% below its all-time high as ETFs shed $90 million in outflows, reflecting risk-off sentiment in crypto markets. European political instability is also rising, with Spain calling a snap election and France facing borrowing cost spikes, though Marine Le Pen's stated goal to reassure markets provides a potential floor for European sovereign debt.