Oil prices moved higher on Friday as worries over ship attacks and vessel seizures kept traders cautious, despite Iran stating that nearly 30 ships had safely crossed the Strait of Hormuz.

Markets were also watching closely as U.S. President Donald Trump and Chinese President Xi Jinping entered the second day of talks in Beijing.

Crude oil price on May 15

Brent crude futures rose 60 cents, or 0.57%, to $106.32 a barrel by 0100 GMT. U.S. West Texas Intermediate crude futures gained 54 cents, or 0.53%, to $101.71 a barrel.Trump and Xi are expected to meet again on Friday as the two-day state visit concludes. U.S. Trade Representative Jamieson Greer said China was being “very pragmatic” regarding Iran and noted that keeping the Strait of Hormuz open remained important for Beijing. Speaking to Bloomberg, Greer said uninterrupted movement through the route was a key concern for China.

Geopolitical tensions, however, remained elevated. In a Truth Social post early Friday, Trump said “the military decimation of Iran (to be continued!).” He also expressed hope that ties with China would emerge “stronger and better than ever before!”
The ongoing conflict has significantly tightened global oil supplies, with the International Energy Agency warning this week that the market may stay “severely undersupplied” until October even if hostilities end next month. U.S. inflation data released earlier this week also pointed to renewed price pressures linked to the conflict, adding to political challenges for Trump ahead of the November midterm elections.
Meanwhile, a U.S. naval blockade around Iranian ports remains active, and shipping conditions in the region continue to be risky. A commercial vessel was reportedly seized by unauthorized personnel near the entrance to the Strait of Hormuz before being taken into Iranian waters, on Thursday.
While a ceasefire has formally been in place since early April despite repeated flare-ups, there appears to be little progress between Washington and Tehran toward a lasting resolution. Trump recently said the truce was on “massive life support” and criticised Iran’s response to his proposal to end the conflict.

Analysts at Morgan Stanley said the global oil market is now in “a race against time,” warning that the factors limiting a sharper rise in crude prices may weaken if the Strait of Hormuz stays shut into June.

Despite disruptions impacting nearly 1 billion barrels of oil supply, crude prices are still below the highs reached in 2022 after Russia’s invasion of Ukraine. Analysts led by Martijn Rats said the market entered the current crisis with stronger supply buffers, while investors largely continue to believe the strait will eventually reopen.

Morgan Stanley added that higher U.S. crude exports and softer Chinese imports have so far helped shield the market from a deeper supply shock. However, the brokerage warned that a prolonged closure of Hormuz could once again tighten global supplies if disruptions continue beyond what either China or the United States can manage comfortably.

Haitong Futures said markets remain cautious and warned the ceasefire may only be temporary. The brokerage added that stalled negotiations between Washington and Tehran could trigger another escalation, pushing oil prices even higher.

Saudi Aramco CEO Amin Nasser said on Monday that disruptions to shipments through Hormuz could delay stability returning to oil markets until 2027, potentially affecting around 100 million barrels of oil supply every week.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Older homes possess a distinctive charm that continues to captivate buyers across the property market. Character features, architectural individuality, and historical ambience often create a sense of warmth and authenticity that modern developments struggle to replicate.

However, purchasing an older property also introduces significant responsibilities. Restoration projects require careful planning, financial discipline, and realistic expectations. Property professionals, including experienced local agents such as Hunters ashford estate agents, frequently advise buyers that successful restoration begins long before renovation work actually starts. Thorough preparation is often the difference between a rewarding transformation and an overwhelming financial burden.

Understanding the Condition of an Older Property

One of the first priorities when purchasing an older home is obtaining a comprehensive understanding of its condition. Superficial appearance alone rarely reveals the full extent of potential issues hidden beneath floors, behind walls, or within structural elements.

Detailed building surveys are therefore essential. Older properties may contain problems such as subsidence, timber decay, roof deterioration, damp penetration, or outdated construction methods that require specialist attention.

A professional survey provides clarity regarding both immediate repair requirements and future maintenance considerations. This information is invaluable when assessing whether the restoration project remains financially and practically viable.

Setting a Realistic Restoration Budget

Restoration projects frequently cost more than buyers initially anticipate. While cosmetic improvements are relatively straightforward to estimate, structural repairs and hidden defects can significantly increase expenditure.

Creating a detailed and realistic budget is therefore crucial from the outset. Buyers should account not only for renovation costs but also professional fees, permits, temporary accommodation, contingency reserves, and rising material prices.

Including a contingency fund is particularly important. Unexpected discoveries during restoration are extremely common in older homes, and financial flexibility helps prevent delays or compromised workmanship later in the project.

Prioritising Structural Repairs First

Structural integrity should always take precedence over cosmetic improvements. While decorative upgrades may feel more immediately rewarding, unresolved structural issues can undermine the entire property if neglected.

Roof repairs, foundation stabilisation, damp treatment, and drainage improvements should therefore be addressed early within the restoration process. These elements protect the building itself and create a stable foundation for all subsequent renovation work.

Attempting aesthetic improvements before resolving structural concerns often leads to duplicated costs and unnecessary disruption later.

Researching Planning Permission and Regulations

Older homes, particularly listed buildings or properties within conservation areas, may be subject to strict planning regulations. These restrictions often exist to preserve architectural heritage and maintain historical integrity.

Before beginning restoration work, buyers should thoroughly investigate local planning requirements and obtain any necessary permissions. Certain modifications, including window replacements, extensions, or structural alterations, may require specialist approval.

Failure to comply with planning regulations can result in enforcement action, financial penalties, or costly remedial work. Understanding these obligations early prevents complications during the restoration process.

Preserving Original Character Features

One of the greatest appeals of older homes lies in their original architectural features. Fireplaces, exposed beams, sash windows, decorative cornicing, and traditional flooring contribute significantly to character and value.

Whenever possible, restoration should aim to preserve these elements rather than replace them entirely. Authentic restoration often enhances both aesthetic appeal and long term market desirability.

Balancing preservation with practicality is important, however. Some original features may require discreet modernisation to meet contemporary living standards while retaining historical authenticity.

Upgrading Essential Systems

Older properties frequently contain outdated infrastructure that requires substantial modernisation. Plumbing systems, electrical wiring, heating installations, and insulation standards may no longer meet modern safety or efficiency expectations.

Upgrading these systems is essential for both comfort and regulatory compliance. Modern electrical systems improve safety, while efficient heating and insulation significantly reduce long term running costs.

Careful planning ensures that these upgrades integrate sympathetically within the property’s original design rather than compromising its historical character.

Finding the Right Contractors and Specialists

Restoration work requires specialised expertise. Builders experienced primarily in modern construction may lack the technical understanding necessary for heritage properties and traditional building methods.

Selecting contractors with proven restoration experience is therefore critical. Buyers should review previous projects, request references, and verify relevant qualifications before appointing specialists.

Communication is equally important. Restoration projects often evolve as hidden issues emerge, making transparency and adaptability essential qualities within the contractor relationship.

Managing Restoration Timelines Effectively

Restoration projects frequently take longer than initially expected. Delays may arise from material shortages, weather conditions, planning approvals, or unforeseen structural discoveries.

Creating a phased renovation schedule helps maintain organisation and prioritise essential work logically. Structural repairs, infrastructure upgrades, and weatherproofing should generally occur before cosmetic improvements begin.

Realistic timelines reduce frustration and allow for more controlled financial management throughout the project.

Combining Modern Living with Historic Charm

Many successful restorations achieve a balance between traditional character and modern functionality. Buyers increasingly seek homes that retain period charm while accommodating contemporary lifestyles.

Open-plan kitchen extensions, discreet smart-home technology, and energy-efficient improvements can coexist harmoniously within older properties when designed thoughtfully.

The key lies in respecting the architectural identity of the home while enhancing usability. Poorly integrated modernisation can diminish both aesthetic coherence and long term value.

Understanding Long Term Maintenance Requirements

Older homes generally require more ongoing maintenance than newer properties. Traditional materials and ageing structures demand regular attention to prevent deterioration.

Routine inspections, preventative repairs, and careful upkeep are therefore essential aspects of ownership. Maintaining roofs, gutters, timber elements, and ventilation systems helps preserve structural integrity and reduce larger repair costs later.

Prospective buyers should approach restoration not as a one-time project but as an ongoing stewardship responsibility.

Restoration as a Long Term Investment

Restoring an older home can provide both emotional satisfaction and long term financial benefits. Well-executed restorations often enhance market value significantly, particularly where original character has been preserved successfully.

However, the rewards extend beyond financial return alone. Many homeowners value the opportunity to preserve architectural heritage and create uniquely personal living spaces.

Patience, planning, and attention to detail are central to successful restoration. Buyers who approach the process strategically are often rewarded with homes that combine historical richness, modern comfort, and enduring market appeal.

Buying and restoring an older home is both a challenge and an opportunity. While restoration projects require careful financial planning, specialist expertise, and ongoing commitment, they also offer the chance to preserve architectural character and create highly distinctive living environments. By prioritising structural integrity, respecting original features, and planning renovations strategically, buyers can transform ageing properties into valuable and deeply rewarding long term homes.

Operator

Good afternoon, and welcome to the CVD Equipment Corporation First Quarter 2026 Earnings Conference Call. As a reminder, today’s call is being recorded. We will begin with prepared remarks followed by a question-and-answer session. Presenting on today’s call are Emmanuel Lakios, President and Chief Executive Officer; and Richard Catalano, Executive Vice President and Chief Financial Officer. Our earnings press release and information about today’s call replay are available in the Investor Relations section of our website at cvdequipment.com.

Before we begin, please note that the comments made during this call may include forward-looking statements, including statements regarding our future financial performance, market growth, product demand, business outlook and strategic initiatives. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. For a discussion of these risks, please refer to our filings with the Securities and Exchange Commission, including the Risk Factors section of our annual report on Form 10-K for the year ended December 31, 2025. We undertake no obligation to update any forward-looking statements, except as required by law.

With that, I will now turn the call over to Emmanuel Lakios, President and Chief Executive Officer.

Emmanuel Lakios
President, CEO & Director

Thank you, operator, and good afternoon, everyone. We appreciate you joining us today to review our first quarter 2026 financial results and to provide an update on our business and strategic initiatives. Following our prepared remarks, we’ll be happy to take your questions. As previously disclosed, in response to continued volatility in our order rates and a recent

Mumbai: The Securities and Exchange Board of India (Sebi) has proposed several changes to the regulatory framework governing exchange traded derivatives and commodity derivatives, including removal of complex options rules and simplifying compliance requirements.

The regulator has proposed to delete the close-to-money (CTM) option series and the corresponding norms for option in goods in case of commodity derivatives.

“There is no concept of CTM on leading international commodity exchanges because the concept of CTM makes the exercise mechanism complex for the trade participants, and they might find it difficult to actually look into the intrinsic costs associated with the CTM options. Since OTM (out of the money) and ITM (in the money) are relatively easy to understand and execute, most of the exchanges offer these two options to market participants,” Sebi said in a discussion paper on Thursday.

The regulator said CTM option introduces uncertainty and price risk for the seller, while the challenge for buyers are that for option in goods, the number of strikers on which margin is imposed increases significantly compared to option in futures.

Sebi has suggested reducing the minimum mandatory product advisory committee (PAC) meeting frequency for non-agricultural commodities from two meetings annually to one meeting a year.

The regulator said exchanges would be permitted to advance the expiry date of running contracts during sudden disruptions such as strikes, festivals or erratic weather conditions with prior approval from the managing director of the exchange, instead of following the current requirement of giving 10 days notice and obtaining PAC approvals.

New Delhi: India’s crude oil stocks have fallen 15% since the Iran conflict began in end-February as refiners moved to maintain processing rates amid declining imports, according to estimates by commodities data and analytics firm Kpler.

Sustained supply constraints could eventually force refiners to cut runs or pull back on crude processing-a factor analysts say may partly explain Prime Minister Narendra Modi’s latest call for fuel conservation. India’s crude stocks are currently at 91 million barrels, slipping from 107 million barrels at the end of February, according to Kpler’s inventory data, which includes strategic petroleum reserves (SPR), commercial inventories, and refinery stocks. The estimates exclude pipeline stocks.

India consumes about 5 million barrels of oil a day, allowing current inventories to cover about 18 days of demand. The current crude stocks can feed up to 60 days of national consumption, the government said Monday, without elaborating. The stock estimate includes cargoes loaded on India-bound ships, said Sujata Sharma, joint secretary in the petroleum ministry on Thursday.

Moderate Drawdown
It also includes pipeline stocks.

India’s crude imports averaged 4.5 million barrels per day (mbd) in the past two and a half months, declining from the pre-war level of 5 mbd, said Nikhil Dubey, lead analyst, refining, at Kpler. “However, refinery run rates have not declined proportionally with the drop in imports, suggesting that part of the supply gap is currently being met through inventory drawdowns, most likely from refinery storage tanks.”
The current drawdown in inventories is “moderate”, said Dubey.
The drawdown could have been larger had Nayara Energy not undertaken a maintenance shutdown at its 400,000 barrels-per-day refinery in Gujarat in April, according to an industry executive.
“With near-term prospects for a reopening (of the Strait of Hormuz) appearing increasingly uncertain, India cannot continue relying on inventory drawdowns indefinitely,” said Dubey.

He warned that refineries may eventually need to reduce run rates in line with lower oil supplies. “This could also explain why the Prime Minister has recently called for fuel conservation efforts,” he said.

Global oil inventories fell by 129 million barrels in March, and by a further 117 million barrels in April, according to the International Energy Agency (IEA). “With global oil inventories already drawing at a record clip, further price volatility appears likely ahead of the peak summer demand period,” the IEA warned Wednesday.

The near closure of the Strait of Hormuz has cut oil output from the Gulf by 14.4 mbd below pre-war levels. This has severely hit global oil supply, which declined by a further 1.8 mbd in April to 95.1 mbd, taking total losses since February to 12.8 mbd.

Saudi Arabia and the UAE-possessing alternative export routes-continued shipments, while Iraq and Kuwait-which depend entirely on the Strait of Hormuz -have been unable to export any volumes.

Implementing the Wan 2.7 Video API ecosystem represents a fundamental shift in how modern enterprises approach media production.

Traditional reliance on bespoke, manually edited content often creates a bottleneck for organizations attempting to maintain a consistent presence across diverse international markets. By transitioning to an engineering-led model, businesses can transform video assets into scalable components of their digital infrastructure, ensuring that high-fidelity storytelling is driven by the stability and logic of a robust API framework rather than limited creative capacity.

Leveraging the Alibaba Wan 2.7 Video API for International Market Expansion

Expanding into new territories requires more than just language translation; it demands a high volume of localized visual content that resonates with regional audiences. Utilizing a suite of specialized interfaces allows global teams to automate this process while maintaining professional standards.

Market Localization with Wan 2.7 Text-to-Video API

Generating region-specific backgrounds and cultural contexts without the logistical burden of local film crews is now a technical reality. The Wan 2.7 Text-to-Video API facilitates this by allowing designers to create bespoke visual environments through structured prompts. A critical feature of this interface is its advanced reasoning phase, often referred to as Thinking Mode. Unlike standard generative systems, the Alibaba Wan 2.7 Video API performs a logical analysis of the scene requirements before the synthesis of pixels begins. This ensures that movement, spatial relationships, and lighting remain consistent across different clips, providing the logical coherence necessary for professional business communications.

Asset Modernization via Wan 2.7 Image to Video API

The modernization of existing corporate libraries is another area where programmatic solutions offer significant ROI. By using the Wan 2.7 Image to Video API, companies can convert high-resolution product catalogs and static brand assets into cinematic promotional loops. This process is highly controlled to ensure that intricate product details, corporate color palettes, and brand-specific textures remain sharp and undistorted during the animation phase. This allows marketing teams to breathe new life into their static portfolios, creating dynamic social and web assets that maintain strict brand integrity.

Agile Marketing Revisions through Wan 2.7 Edit Video API

Responsiveness to market feedback is essential for maintaining a competitive edge. The Wan 2.7 Edit Video API allows for iterative tuning of existing assets through simple natural language instructions. Instead of a full re-production cycle, a team can issue a command to the API to update the style, lighting, or background of a corporate video to reflect a new seasonal aesthetic or local trend. This instruction-based editing functions as a visual patch, reducing the technical debt associated with video revisions and ensuring that the organization can pivot its visual narrative with minimal friction.

Subject Consistency with Wan 2.7 Reference To Video API

Protecting brand identity is often the primary concern when adopting generative technologies. The Wan 2.7 Reference To Video API addresses the challenge of subject drift through its 3×3 multi-reference grid architecture. This allows the API to ingest structural data of a specific brand mascot, proprietary hardware design, or spokesperson from multiple angles simultaneously. By locking these visual characteristics into the generative workflow, the API guarantees that the core subject remains visually identical across diverse sequences. This level of multimodal consistency is vital for maintaining a professional global presence and ensuring that programmatically generated content remains unmistakably on-brand.

Integrating the Wan AI API Suite into Enterprise Tech Stacks via Kie.ai

The success of a programmatic content strategy depends heavily on the reliability of the underlying infrastructure. Accessing these advanced generative capabilities through Kie.ai provides the professional-grade environment required for stable, high-throughput delivery across a global organization.

Scalable Infrastructure and High-Volume Delivery

Integrating the wan ai api into a corporate tech stack necessitates a gateway capable of handling significant request volumes with high stability. Kie.ai serves as this technical foundation, providing the managed infrastructure needed to manage complex task queuing and rendering processes at scale. This allows development teams to focus on the strategic application of the API rather than the maintenance of high-performance rendering nodes. For large-scale campaigns, this elastic architecture ensures that content production can expand or contract based on real-time business needs.

Optimizing Unit Economics for Global Campaigns

Managing the cost of content production is a priority for every business leader. Utilizing professional gateways like Kie.ai allows organizations to achieve predictable unit economics for their video assets. By leveraging high-concurrency access and optimized task management, teams can reduce the effective cost-per-second of high-fidelity rendering. Furthermore, best practices in JSON request optimization ensure that assets are generated with maximum efficiency, prioritizing visual fidelity where it matters most for corporate and social platforms. This data-driven approach to production makes high-end motion a sustainable part of the enterprise marketing budget.

Future-Proofing Corporate Operations with Wan AI API

Transitioning from human-centric content creation to automated, generative pipelines is a strategic move that enhances corporate agility and competitiveness. The implementation of the Alibaba Wan 2.7 Video API provides a measurable framework for scaling visual storytelling without the exponential growth in overhead typically associated with video production. As the digital economy continues to prioritize high-frequency, high-fidelity visual engagement, the ability to generate assets programmatically becomes a core competency for any growing brand. Ultimately, integrating the Wan 2.7 AI Video Generator API suite via Kie.ai empowers global businesses to meet the evolving demands of their international audiences with precision, speed, and uncompromising quality.

US stocks have advanced, ‌lifted by a rally in tech stocks as investors absorbed generally solid economic data and watched for developments from Beijing where US President Trump was engaged in a high-stakes meeting with his Chinese counterpart ‌Xi Jinping.

Asian stocks rose after Wall Street gauges hit records, buoyed by a rally in the AI trade, strong corporate earnings and further signs of resilience in the US consumer.

Stocks rose in Japan, South Korea and Australia, sending the broader MSCI Asia Pacific Index higher. The gauge is on course for its sixth consecutive weekly gain, the longest streak since late January. Futures contracts for the Nasdaq 100 Index were little changed after the underlying gauge closed at an all-time high.

Trading in the US was driven by AI-linked companies, with Nvidia Corp.’s six-day rally pushing its market value closer to $6 trillion. Cerebras Systems Inc. soared 68% in its debut, while Applied Materials Inc. shares advanced in after-hours trade on encouraging forecasts.

Elsewhere, Brent crude climbed 0.7% to around $106 a barrel, while the dollar held onto gains from the previous four sessions. The pound dropped Thursday after a new challenge to the leadership of UK Prime Minister Keir Starmer. Attention in Asia will also be on President Donald Trump’s China visit, with Taiwan emerging as a key issue.

In Treasuries, the two-year yield traded at 4.03% in early Asian hours Friday, its highest level since June, while the benchmark 10-year yield rose one basis point to 4.49%.

Elsewhere, Japanese 10-year government bond yields climbed on Friday as the nation’s producer prices surged to the highest since 2023.
AI optimism, strong corporate profits and a still-robust economy have sent stocks from one record to the next, masking concerns of oil prices staying above $100 a barrel and stoking inflation. A report showed US retail sales rose for a third month, offering an upbeat data point for the health of consumers contending with higher prices.“April retail sales echoed what we’ve heard across corporate conference calls for weeks now: The US consumer remains resilient despite soaring gas prices,” said Bret Kenwell at eToro. “When it comes to stocks though, tech is in the driver’s seat right now, not the consumer.”

In geopolitical news, Trump signaled China is willing to support negotiations with Iran, as he pushes for a diplomatic resolution to end the war and reopen the Strait of Hormuz. China has not explicitly confirmed.

Bets that corporate earnings will keep powering ahead have offset worries that higher energy costs could fuel inflation and weigh on consumer confidence.

First-quarter S&P 500 profits likely grew about 27% from a year ago, marking a sixth straight quarter of double-digit expansion, according to data compiled by Bloomberg Intelligence.

It’s clear that Corporate America has become very skilled at adapting to a wide range of economic environments, according to Clark Bellin at Bellwether Wealth. For investors who missed the opportunity to put new money to work during the war-driven slide in March, he said “it’s not too late.”

“Stocks are still climbing the wall of worry, and we don’t think there is euphoria in markets just yet,” Bellin noted. “In fact, there is still plenty of skepticism, which suggests this bull market has more room to run.”