Cryptocurrency penetrate to automotive markets as new payments
Ferrari has launched cryptocurrency payments for its luxury sports vehicles in the U.S. and plans to expand to Europe at the request of wealthy customers. Most blue-chip corporations avoid crypto due to its volatility and regulatory issues. Tesla began accepting bitcoin in 2021 before CEO Elon Musk discontinued it due to environmental concerns. Ferrari’s Chief…
Israel war made Oil, Treasuries, and Gold prices jump high
The Israeli military ordered civilians to flee Gaza City after Hamas militants launched attacks, leading to a surge in oil, U.S. Treasuries, and gold prices. Brent crude rose 7.5% in the week after the crisis began, its highest weekly rise since February. The S&P 500 fell on Wall Street despite strong results from big U.S.…
Oil prices rose due to US sanction
Oil prices rose on Friday due to the US reinforcing sanctions against Russian crude shipments, causing supply concerns in a tight market. Global inventories are expected to fall through the fourth quarter. Brent futures and WTI crude rose 0.6% and 0.8%, respectively. The US levied sanctions on tankers carrying Russian oil beyond the G7’s $60…
The Fed leaning towards raising interest rates again
The US inflation report shows that September prices climbed similarly to August, with a lower trend in price hikes when volatile categories like food, energy, and shelter are removed. This is good news for the Federal Reserve, which had been leaning towards raising interest rates again in November. However, the data shows the Fed has…
Israel ordered Palestinians people to evacuate to south within 24 hours
Israel has deployed tanks near Gaza City and ordered over 1 million Palestinians to evacuate within 24 hours in preparation for a ground attack. The military has bombed 750 military targets in northern Gaza, including Hamas tunnels, military camps, senior operational apartments, and weapons storage centers. Hamas has held scores of hostages in a ground…
Israel airplane attack has killed 1,000 Palestinian
Israeli airplanes attacked Gaza twice overnight, killing at least 1,000 Palestinian gunmen who infiltrated the coastal territory. The health ministry reported 950 deaths and 5,000 injuries since Saturday’s Hamas militant strike. Israel’s military reported 1,200 deaths and 2,700 injuries. The majority of victims were civilians shot in houses, streets, or during outdoor dance parties. U.S.…
Russian oil shipments increased by over 400.000 bpd
Russia provided 1.3 million bpd of seaborne crude from January to September, with Chinese trading sources reporting pipeline imports of 800,000 bpd ESPO crude. Russian shipments increased by almost 400,000 bpd from January to September, driven by Urals. China saved $4.34 billion by importing Russian oil this year, with Venezuelan oil inflows of 430,000 bpd…
China successfully saved billion from oil expense
China saved over $10 billion this year by buying record amounts of oil from Western sanctions countries. Despite China’s criticism of “unilateral” sanctions on Russia, Iran, and Venezuela, they have reduced oil import costs for refiners. China’s purchases have boosted throughput and margins for the world’s second-largest oil consumer and refiner, especially “teapots” and state-owned…