Author: Fiona Craig

Oil prices moved lower on Wednesday, pulling back after three consecutive sessions of gains as markets weighed uncertainty surrounding the fragile situation in the Middle East and awaited high-level talks between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing.

Brent crude futures fell $1.47, or 1.4%, to $106.30 a barrel by 0630 GMT, while U.S. West Texas Intermediate crude declined $1.41, or 1.4%, to $100.77 per barrel.

Both benchmarks have traded near or above $100 a barrel since the United States and Israel launched military operations against Iran in late February and Tehran effectively closed the Strait of Hormuz.

Supply disruption fears continue to underpin prices

Despite Wednesday’s decline, concerns over energy supply disruptions continued to provide support to the oil market.

“Concerns over supply disruptions and uncertainty surrounding the Middle East are keeping oil prices well supported, even as traders struggle to establish a clear direction,” said Priyanka Sachdeva, senior market analyst at Phillip Nova.

“The market remains highly reactive to every update from the region, meaning sharp swings are likely to persist. Any further escalation or direct threat to supply flows could quickly revive strong upside momentum in both Brent and WTI,” added Sachdeva.

Oil had surged more than 3% on Tuesday after hopes for a lasting ceasefire agreement between the United States and Iran weakened further, reducing expectations that the Strait of Hormuz would reopen in the near future. Around 20% of global oil and liquefied natural gas shipments normally pass through the strategic route.

Trump says China’s help on Iran may not be needed

Trump said Tuesday that he did not expect to require China’s assistance to end the conflict with Iran, even as the likelihood of a long-term peace agreement appeared to diminish and Tehran tightened its control over the Strait of Hormuz.

China remains the largest purchaser of Iranian crude despite sanctions imposed by Washington. Trump is scheduled to meet Xi Jinping in Beijing on Thursday and Friday.

Analysts at Eurasia Group said in a research note: “The length of the disruption and the scale of the supply loss – already more than 1 billion barrels – means oil prices are likely to remain above $80 per barrel for the rest of the year.”

Rising fuel costs increase pressure on the U.S. economy

The conflict involving Iran is increasingly affecting the U.S. economy as elevated crude prices push fuel costs higher for households and businesses. Economists also expect broader knock-on effects to emerge in the coming months.

Inflation figures released in April showed U.S. consumer prices rose sharply for a second straight month, resulting in the strongest annual inflation increase in nearly three years. The data reinforced expectations that the Federal Reserve could keep interest rates elevated for longer.

“The marked increase in inflation across advanced economies has yet to cause real spending to contract, but the widespread decline in consumer sentiment and hiring intentions points to worse to come,” analysts at Capital Economics wrote in a note to clients.

Higher interest rates typically increase borrowing costs, which can slow economic growth and weaken oil demand.

U.S. oil inventories extend decline

Meanwhile, U.S. crude stockpiles declined for a fourth consecutive week last week, while distillate inventories also moved lower, according to market sources citing figures from the American Petroleum Institute.

Gold prices were little changed in Asian trade on Wednesday, with investors remaining cautious as hopes for a near-term peace agreement between the United States and Iran continued to fade ahead of scheduled talks between Donald Trump and Chinese President Xi Jinping.

Spot gold slipped 0.1% to $4,712.27 an ounce by 02:44 ET (06:44 GMT), while U.S. gold futures added 0.6% to $4,721.22 an ounce.

The precious metal had fallen 0.4% in the previous session as stronger U.S. inflation figures and a firmer dollar pressured bullion prices.

Markets monitor Trump-Xi meeting amid ongoing Middle East uncertainty

Investor confidence remained subdued after Trump said earlier this week that negotiations with Iran were on “life support” after Tehran rejected a U.S.-backed proposal intended to end hostilities and reopen the Strait of Hormuz.

The remarks weakened expectations for a near-term ceasefire and reinforced concerns over rising geopolitical risks.

The prolonged conflict has continued to disrupt shipping through the Strait of Hormuz, a crucial energy corridor through which roughly 20% of global oil supplies pass, heightening fears that elevated energy costs could keep inflation under pressure and complicate central bank policy decisions.

Investors are also closely watching the Trump-Xi summit scheduled for May 14-15 in Beijing. Discussions are expected to include trade tensions, Taiwan, the Iran conflict and broader supply-chain concerns.

Inflation and rising yields weigh on bullion

Gold has struggled to attract fresh buying this week after stronger-than-forecast U.S. inflation data pushed Treasury yields higher and supported the dollar, reducing demand for non-yielding assets such as bullion.

The U.S. Dollar Index rose 0.1% on Wednesday following a 0.4% gain in the prior session.

Data released Tuesday showed that U.S. consumer prices increased by 0.6% in April, while annual inflation accelerated to 3.8%, marking the highest reading since mid-2023. The rise was driven largely by surging energy prices linked to tensions in the Middle East. Core inflation also exceeded market expectations.

Markets have now largely abandoned expectations for Federal Reserve rate cuts this year, while pricing for potential rate increases edged slightly higher.

Higher interest rates typically pressure gold because they raise the opportunity cost of holding assets that do not generate income.

Traders are now awaiting U.S. producer price data due later Wednesday for further insight into inflation trends and the likely path of Federal Reserve policy. Expectations for rate reductions this year have continued to decline.

Silver mixed while copper prices rise

Elsewhere in metals markets, spot silver gained 0.1% to $86.68 an ounce, while platinum fell 0.5% to $2,121.80 an ounce.

Benchmark copper futures on the London Metal Exchange rose 0.8% to $14,142.33 per ton, while U.S. copper futures traded broadly unchanged at $6.64 per pound.

European equity markets moved higher on Wednesday as investors monitored ongoing tensions between the United States and Iran while U.S. President Donald Trump traveled to China ahead of a closely watched summit.

By 07:13 GMT, the pan-European STOXX Europe 600 had climbed 0.7%, while Germany’s DAX rose 0.6%. France’s CAC 40 gained 0.2% and the UK’s FTSE 100 advanced 0.8%.

Trump is expected to hold direct talks with Chinese President Xi Jinping later this week, with discussions likely to cover trade relations, Taiwan and broader geopolitical issues.

However, market attention remains heavily focused on the continuing standoff between Washington and Tehran. Analysts have suggested that China, as one of the largest buyers of Iranian crude oil, could potentially play a role in supporting a longer-term peace agreement, although expectations for a major diplomatic breakthrough from the summit have eased in recent days.

Efforts to secure an agreement between the U.S. and Iran appear to have reached a deadlock. Earlier this week, Trump rejected Iran’s response to a U.S. peace proposal, calling it “unacceptable” and a “piece of garbage.” Speculation has also continued over whether the White House may resume military strikes against Iran.

For its part, Tehran has given little indication that it intends to make further concessions to Washington.

The prolonged impasse has left the Strait of Hormuz — a strategically important shipping route off Iran’s southern coast through which around one-fifth of global oil supplies pass — effectively closed for several weeks.

As a result, oil prices remain significantly above pre-conflict levels, adding to inflationary pressures worldwide. The trend was reinforced by data released on Tuesday showing that U.S. consumer prices continued to rise rapidly in April following another notable increase the previous month.

As artificial intelligence rapidly reshapes industries across the globe, a new question is beginning to dominate technology and investment circles: who will own the infrastructure powering the next generation of AI?

That was the focus of a recent episode of Capital Compass, where host Ricki Lee sat down with Siam Kidd, CEO of Astrid Intelligence (AQSE:ASTR), to discuss the company’s ambitious vision for decentralized AI and its growing role within the Bittensor ecosystem.

Building the “Third Great Network”

According to Siam Kidd, decentralized AI could represent the next major leap in global digital infrastructure.

He compared Bittensor to two transformative technologies that came before it: the internet and Bitcoin. The internet enabled the global transfer of information, while Bitcoin revolutionized peer-to-peer value exchange. Bittensor, Kidd argues, introduces something even more powerful,  a decentralized network for intelligence creation and distribution.

Rather than operating as a centralized AI giant, Bittensor allows independent participants around the world to contribute computing power, models, and data in exchange for rewards. The result is an open-source ecosystem designed to accelerate innovation through incentives and collaboration.

Kidd described the platform as potentially becoming “the Linux for AI,” where specialized AI systems can evolve and compete across a wide range of applications, from weather forecasting to autonomous trading.

Astrid Intelligence: More Than an AI Investor

Unlike many companies entering the AI sector purely as investors, Astrid Intelligence is positioning itself as an active infrastructure operator.

The company is focused on building and acquiring systems directly within the Bittensor ecosystem. That means operating validators, supporting decentralized AI networks, and developing proprietary platforms designed to capture long-term value from emerging AI technologies.

Kidd emphasized that Astrid is not simply buying and holding digital assets. Instead, the company aims to participate directly in the mechanisms that power decentralized AI, similar to how early Bitcoin miners helped secure the Bitcoin network while benefiting from its growth.

This operational approach gives Astrid exposure to both the technological development and commercial opportunities emerging inside the ecosystem.

The Vision Behind Astrid Arena

One of the company’s most ambitious projects is Astrid Arena, a competitive platform where developers build autonomous AI trading agents.

The concept combines elements of AI research, algorithmic trading, and incentive-driven competition.

Participants submit trading agents that compete in simulated markets using a basket of assets including Bitcoin, gold, and other digital currencies. Every trade made by an agent is recorded alongside the reasoning behind it, allowing Astrid to gather valuable insights into how successful AI systems make decisions.

The competitions are structured with significant prize pools, encouraging developers worldwide to improve their models and strategies.

What has surprised Kidd most is the pace of improvement.

In the early stages, many agents struggled to generate profits. However, within just a few months, performance levels reportedly improved dramatically, with even average-performing agents achieving strong simulated returns over short trading periods.

For Astrid, the opportunity extends far beyond competition.

The long-term vision is to aggregate the intelligence generated through these battles and eventually develop institutional-grade trading systems that could be licensed to investment firms or deployed internally.

A Different Approach to AI Development

A major theme throughout the discussion was the contrast between centralized AI companies and decentralized AI ecosystems.

While major firms like OpenAI and xAI focus on building large, all-encompassing models, Kidd believes Bittensor thrives by encouraging highly specialized AI solutions.

Instead of one massive system trying to solve every problem, decentralized AI allows thousands of focused applications to emerge independently. Over time, the most effective capabilities can be adopted, integrated, or monetized across broader AI systems.

This modular approach could create a more resilient and innovative ecosystem, where developers are rewarded directly for solving specific challenges.

Leadership Built on Diverse Experience

Kidd’s unconventional background also plays a role in shaping Astrid’s strategy.

Before leading Astrid Intelligence, he built experience as a trader, entrepreneur, angel investor, former RAF pilot, and fund manager. He has previously built, scaled, and sold multiple businesses, while also spending more than two decades in financial markets.

That combination of technical curiosity, operational experience, and market knowledge appears central to Astrid’s approach as it navigates the fast-moving decentralized AI landscape.

Looking Ahead

As decentralized AI continues to evolve, companies like Astrid Intelligence are attempting to position themselves at the foundation of a potentially transformative industry.

Rather than chasing short-term hype, the company is focusing on infrastructure, incentives, and operational participation inside emerging AI networks.

Whether decentralized AI becomes the next major computing revolution remains to be seen. But if it does, Astrid Intelligence is aiming to be one of the companies helping to build the rails beneath it.

For more information visit – https://astrid.global/

VTY Vistry Group (LSE:VTY) reported a 32% increase in year-to-date sales rates, supported by accelerated sales of completed and near-completed open market homes. However, the company said achieving these higher sales volumes has required increased discounting across lower-margin developments, which is expected to place additional pressure on first-half profitability. Activity within the partnerships division also remains subdued as the market transitions to a new Social Affordable Housing Programme, although Vistry noted that its £4.5 billion forward order book and anticipated grant allocations later in the year should help support stronger partner revenues during the second half of 2026.

Management said cash generation and debt reduction have become the company’s primary priorities for the year. To support these objectives, Vistry is reducing inventory levels, tightening commercial terms on partnership agreements, slowing selected build programmes, introducing stricter land acquisition criteria and suspending its share buyback programme in order to target a year-end net cash position exceeding £100 million. While ongoing macroeconomic uncertainty and the near-term impact of discounting are expected to result in significantly weaker first-half earnings, the board said it still anticipates second-half profit to match last year’s level and expects full-year adjusted profit before tax to fall around the midpoint of current analyst forecasts. A broader strategic review led by recently appointed chief executive Adam Daniels is also expected later this year as the group looks to refine its operating model.

The company’s outlook is held back primarily by very weak technicals (price below all major DMAs with negative MACD and deeply oversold momentum). Financially, the company benefits from a relatively conservative balance sheet and currently positive free cash flow, but subdued revenue and materially lower margins versus prior years reduce confidence in near-term earnings power. Valuation is neutral at a ~15x P/E, with no dividend yield data to add support.

More about Vistry Group

Vistry Group is a UK-based housebuilder focused on delivering both open market housing and affordable homes through partnership arrangements with housing associations and public sector organisations. The group serves private homebuyers as well as social housing providers and positions itself as a significant contributor to addressing long-term housing supply demand across the UK.

PREM Premier African Minerals (LSE:PREM) has raised approximately £1 million through a direct subscription for new ordinary shares on AIM, with proceeds intended to support commissioning work at the Zulu Lithium and Tantalum Project, alongside operating costs, creditor obligations and general working capital requirements. Following completion of the fundraising, the company’s issued share capital will increase to 38.13 billion ordinary shares. Operationally, Premier said the new flotation plant, crushing circuit and conveyor infrastructure at Zulu have now substantially completed cold commissioning and remain on course to enter hot commissioning with ore feed during the second quarter of 2026.

At the Zulu Lithium project, water-based cold commissioning activities across the flotation system and associated crushing and milling facilities have largely been finalised. The company said testing has included successful operation of conveyor systems, bypass chutes and recommissioning of the crushing circuit using ore. The next stage will involve hot commissioning, including the introduction of reagents and ore to begin spodumene froth recovery, marking an important step toward bringing the processing plant into full commercial operation. Management stated that progress remains aligned with the previously communicated Q2 2026 commissioning schedule.

The company’s outlook is held down primarily by weak financial performance (persistent losses, negative gross profit, and continued cash burn) and a bearish technical setup (price below major moving averages with negative MACD). Valuation is also constrained by a negative P/E and no dividend yield data, offering limited support.

More about Premier African Minerals

Premier African Minerals is a multi-commodity mining and resource development business focused on projects across Southern Africa. Its portfolio includes assets such as the RHA Tungsten and Zulu Lithium projects in Zimbabwe and spans commodities including tungsten, lithium, tantalum and rare earth elements, covering both near-production brownfield developments and earlier-stage exploration opportunities.

OMI Orosur Mining (LSE:OMI) has reported additional positive drilling results from the Pepas West area within its Anzá gold project in Colombia, with recent drill holes intersecting broad zones of near-surface gold mineralisation. Highlights included intercepts of 23.45 metres grading 2.98 g/t gold and 16.1 metres at 2.68 g/t gold. The company also confirmed that a key step-out drill hole extended known mineralisation approximately 30 metres to the northwest of previous drilling, indicating a strike length of at least 100 metres with further exploration potential still untested. Drilling activities have temporarily shifted southward while geological teams analyse the latest results and prepare the next phase of work aimed at defining the overall scale of the discovery.

At the nearby APTA prospect, where around 39,000 metres of historic drilling have already outlined a sizeable epithermal gold system, the company said drill hole MAP-106 has now entered the intended target zone despite challenging ground conditions. The hole is designed to test updated geological interpretations that could contribute toward a future mineral resource estimate. Combined with the existing maiden resource at Pepas and ongoing exploration work at El Cedro, the latest drilling activity indicates that Anzá may be evolving into a broader multi-deposit gold project, potentially enhancing Orosur’s long-term asset value and attractiveness to investors and strategic partners.

More about Orosur Mining

Orosur Mining Inc. is a gold exploration business listed on both the TSX Venture Exchange and AIM, focused on advancing its wholly owned Anzá Project in Colombia’s Mid-Cauca gold belt. Through its subsidiaries Minera Anzá and Minera Monte Aguila, the company controls approximately 330 square kilometres of exploration licences containing multiple high-grade gold prospects, including Pepas, APTA and the El Cedro porphyry cluster.