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On Monday, the Asian diesel market clearly softened, with the 10ppm sulfur diesel spot differential sliding below $30 per barrel, swap backwardation narrowing simultaneously, diesel crack spread hovering around $60 per barrel, and zero diesel trades in the Singapore spot window.The jet fuel spot window remained active, with the jet fuel premium over diesel steady at around $14 per barrel, indicating that the recovery of aviation demand is still independently supporting middle distillate valuations.Naphtha prices jumped $28 along with crude benchmarks to $1,172 per ton, with early June cargo premiums staying firm and supply concerns continuing to intensify; although the naphtha-Brent crack spread narrowed by $8, it remained elevated at $405.28 per ton.Five gasoline trades were concluded intensively in the Singapore window, with supply outlook tightness continuing to bolster the price midpoint; overall, light distillates are showing a relatively firm pattern of resonance between rising crude costs and tight supply-demand balance.The Hi-5 fuel oil spread plummeted to about $74 per ton, the lowest in about a month. High sulfur fuel oil saw its crack spread rise to a $2.30 per barrel premium, supported by the supply cut of Middle Eastern heavy sour crude. Meanwhile, the crack spread for very low sulfur fuel oil fell below $14 due to ample prompt supply.The fuel oil market is experiencing a structural split — the Strait of Hormuz blockade has cut off Iranian high sulfur crude and fuel oil exports, directly boosting the premium for high sulfur cargoes, while the supply logic for low sulfur cargoes has not yet suffered an equivalent impact. This divergent crack may persist until the Middle East situation becomes clearer.

According to Odaily, Bernstein stated that Bitcoin's recent correction has to some extent reflected the market’s concerns over quantum computing risks, and considers this threat “real but manageable,” and not yet an imminent systemic risk. Although research—including from Google—indicates that future quantum computers could potentially break commonly used blockchain encryption algorithms rapidly under extreme circumstances, progress in zero-knowledge proofs and post-quantum cryptography has provided a certain level of hedging. Bernstein believes that Bitcoin developers still have about 3 to 5 years to advance post-quantum upgrade paths, and mentioned the current BIP-360 proposal, which could reduce some quantum exposure risk through a soft fork. Additionally, institutional investors (including ETF issuers and corporate holders) are expected to play an active role in driving upgrade consensus. However, industry opinions point out that the main challenges of post-quantum upgrades lie in user migration and consensus formation, rather than the technical implementation itself. (Cointelegraph)

Golden Ten Data, April 13 | Some U.S. optical communication stocks are active, Credo Technology is up more than 8%, POET Technologies is up more than 5%, Astera Labs is up more than 4%; Marvell Technology is up more than 3%, with a cumulative increase of over 33% since April. According to reports, Lumentum’s CEO Michael Helston recently stated that demand from tech giants for the company's optical components is accelerating, and it won't be long before even the production capacity for 2028 is sold out.