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Oil Surplus Shrinks Again on Sanctions and Demand, IEA Says

(Bloomberg) -- The International Energy Agency once again slashed expectations for a global oil surplus this year amid stronger demand growth in Asia and sanctions on OPEC+ nations.The agency now sees an overhang of 450,000 barrels a day in 2025, marking a cut of roughly 50% in just two months. It bolstered forecasts for world oil consumption this year by just under 100,000 barrels a day, to 1.1 million per day, and cut projections for output from OPEC+ nations including Russia and Iran as the U

Chinese Tech Stocks Slide as Strong Rally Spurs Profit Taking

(Bloomberg) -- Chinese technology stocks fell as traders took some money off the table following a rally driven by optimism over the country’s artificial intelligence potential.The Hang Seng Tech Index ended Thursday 0.9% lower, reversing an earlier advance that briefly saw the gauge reach a three-year high. The index pushed lower as shares of Alibaba Group Holding Ltd — the latest AI darling — trimmed gains to just 2.6%. Thursday’s setback may do little to dent insatiable demand for the sector,