The world has plenty of oil. Yet prices keep climbing, and JPMorgan says the problem is now at sea. There are simply too few available tankers to move all that crude.
In an October 9 note, the bank warned that a shipping bottleneck is driving up...
President Donald Trump said Russia agreed to ship 4.8 million tons of Russian diesel to US and global buyers after a call with Vladimir Putin on Thursday. Russia’s own ban on diesel exports runs through October 31.
Diesel powers the trucks,...
Brent oil jumped nearly 5% to about $105 per barrel on Thursday, its highest level in almost a month. Reports that Washington is preparing renewed strikes on Iran drove the rally.
The move reverses a slide that briefly pushed Brent below $100...
One year ago, Bitcoin (BTC) was worth more than ever. Four days later, one post from the White House erased $19 billion in bets.
Traders call that crash 10/10. It turns one on Saturday, and Bitcoin has still not recovered. It trades at $85,558,...
A projectile hit a tanker in the Strait of Hormuz on Monday, setting its engine room on fire. Meanwhile, President Donald Trump claims that the strait is no longer why Americans pay more for gas.
The UK Maritime Trade Operations agency (UKMTO),...
Oil prices slipped on Monday after the Group of Seven (G7) agreed to release 100 million barrels from emergency reserves. Rising crude exports from the Middle East added to the supply relief.
Brent crude traded at $101.69, down 0.55%, while West...
It’s day 203 of the Iran war. And, at least five countries are rationing fuel or reporting empty pumps as of September 19. Brent crude traded at nearly $110 this month, its strongest level since spring.
The Strait of Hormuz has been largely shut...
On Wednesday, U.S. Bank sent dollars from North America to Europe on a public blockchain. However, while anyone can watch that network, only the bank can undo the payment.
The bank calls it a launch, but it’s own announcement describes it as a test....
