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Mobility

China\'s June crude imports plunge 41 percent, focuses on electric taxis to ease oil supply strain

China’s crude oil imports fell to their lowest level in nine years in June, with rising electrification in taxis and ride-hailing seen as a key driver of lower oil use amid supply worries around the Strait of Hormuz. June imports dropped 41.3 percent year on year to 29.27 million tons. Gasoline and diesel consumption fell even as travel and freight rose, while analysts and experts expect further declines in fuel demand and refinery utilisation.

Finance

Woori Investment Securities arranges 600 billion won acquisition financing, largest since launch

Woori Investment Securities has completed its largest acquisition financing arrangement since its launch, as it expands participation in big-ticket investment banking deals after a 1 trillion won rights issue. The firm said it completed on June 30 the acquisition financing arrangement for a deal in which a consortium led by STIC Alternative Asset Management and Korea Investment Private Equity is buying stakes in Ulsan GPS and SK Multi Utility. The overall transaction is worth 1.6 trillion won.

Crypto

Bitcoin lacks direction; September FOMC remains variable despite oil price relief

Bitcoin is holding in a range near $64,000, with fears over a sharp rise in oil prices largely easing. Analysts say a clear directional move may be hard before late in the third quarter because the inflation impact of energy shocks is reflected with a lag and could shape the Federal Reserve\'s September policy meeting. Oil futures suggest supply concerns are easing, but structural factors and ETF flows may still cap any breakout.