Oil's Roaring Week, Crypto's Wobble, and a Tech Selloff

Welcome to Venor News, Weekend Edition. I'm Gracy Skai.

Oil had the biggest weekly move of any market we cover.

CNBC and the wires reported software and chip stocks fell together, citing AI and interest-rate fears.

Banks and regulators pushed crypto infrastructure forward while prices fell.

US crude had the biggest weekly move of any market we cover. Ethereum fell 4.2 percent and Bitcoin 2.6 percent. The pound firmed 0.6 percent. It was a week that split three ways: oil roaring, crypto wobbling, and the majors going nowhere.

Our number of the week: 9.6 percent. That's how far US crude oil rose this week.

US crude closed at 100.09 dollars, its biggest weekly move. Separately, Bloomberg reported Houthis hit Yemen airport while Saudi Arabia intercepted attacks. The Wall Street Journal reported Iran is giving Houthis targeting and intelligence for attacks on Saudi Arabia. Reports said Yemen's central bank sanctioned 569 entities and individuals linked to Houthi financial networks.

Crypto prices fell, but the plumbing kept being built. White and Case reported the SEC proposed a new rulemaking it calls Regulation Crypto Assets. The Paypers reported the EU named Circle's USDC the first significant e-money token under its MiCA rules. And TradingView reported Deutsche Bank will launch Bitcoin and Ethereum custody within weeks. CoinDesk also reported the CFTC's Michael Passalacqua has a fallback plan for crypto regulation after the Clarity Act stalled.

Next week's full economic calendar is on our website.

Finally, the barometer at Friday's close, going into the new week: US crude oil is clearly bullish, Bitcoin leans bearish, and Ethereum leans bearish. The Session's Briefing returns when markets reopen on Sunday, and for live updates from the open, watch Market Pulse on our website.

That's all from Venor News. Goodbye, and happy trading.