Author: Anthony Persuader
Financial Journalist with global coverage.
Oil Prices Dip as Russian Shipments Boost Supply Oil prices extended their decline on Tuesday after reports indicated that shipments had resumed at a Russian oil depot hit earlier by a Ukrainian drone attack. International benchmark Brent crude was trading at $63.31 per barrel, down 0.67% from the previous close of $63.74. US benchmark West Texas Intermediate (WTI) also decreased by about 0.72% to $59.27, compared to $59.70 in the prior session. The restart of shipments on Sunday after a two-day halt eased supply concerns and put additional downward pressure on prices. Andrey Kravchenko, head of Russia’s Novorossiysk region, said…
Bitcoin (BTCUSD) price is down by more than 13% over the last seven trading sessions as negative …
Bitcoin Price Crashes Below $100k over Panic Sell-offs Bitcoin fell below $100K in the latest crypto selloff amidst US Federal Reserve rate cut uncertainties. Markets are red across the board, with major cryptos sliding as fears cloud sentiment. The global market capitalisation of all cryptocurrencies edged lower to $3.3 trillion, fell by about 4% in 24 hours over Bitcoin and Ethereum sell pressure. The Fear & Greed Index is at 25 on Thursday, indicating extreme fear, which is lower than the previous month’s neutral 40. This suggests a negative shift in investor sentiment. Cryptocurrencies markets flipped sharply as December rate-cut…
Oil Prices Decline amid Rising Supply, Weak Demand Outlook In the global commodity market, crude oil prices declined on Thursday as concerns over a recovery in global supply and a weaker demand outlook continued to pressure the market. International benchmark Brent crude was trading at $62.51 per barrel, down 0.03% from the previous close of $62.53. US benchmark West Texas Intermediate (WTI) also decreased by about 0.01% to $58.43, compared to $58.44 in the prior session. Weak demand signals from the US, the world’s largest oil consumer, pressured prices. The American Petroleum Institute (API) estimated that US commercial crude inventories…
British Pound Falls Ahead of UK Economic Report The British pound weakened to $1.3125 as the market digested the significant rise in UK unemployment levels ahead of the economic report. The GBPUSD pair came under heavy selling pressure after UK jobs data showed further signs of labour market weakness. On Tuesday, GBPUSD fell to almost $1.3115 and recovered to almost $1.3185, a new session high, before the end of the European session. However, selling pressure returned today, and sterling is slipping through yesterday’s low. According to the Office for National Statistics (ONS), the UK’s unemployment rate rose from 4.8% to…
Oil Prices Edge Lower Ahead of U.S Government Reopening Global commodity market: Oil prices fell on Wednesday despite growing signs that the longest US government shutdown in history may soon end, as persistent concerns over global oversupply weighed on the market. International benchmark Brent crude was trading at $64.80 per barrel, down around 0.13% from the previous close of $64.89. The US benchmark West Texas Intermediate (WTI) also decreased by about 0.13% to $60.80, compared to $60.88 in the prior session. The US Senate passed legislation Monday to end the longest-ever government shutdown, which is now in its 42nd day.…
Carbon Emissions Ratio to World GDP Falls by 1.6% in 2024 The carbon intensity of world gross domestic product (GDP) or the ratio of CO2 emissions to GDP, declined by 1.6% in 2024 as economy expanded by 2.9% in real terms, Fitch Ratings said in a note, As the world economy expanded, carbon emissions also rose by 1.2% in the same period but at a slow pace compared with GDP growth. The pace of decarbonisation is being held back by the growing share in world GDP of emerging markets – which are far more carbon intensive – and recently by…
XRP Soars by 9% as Market Reacts to ETF Listing Signal Digital asset Ripple—XRPUSD—soared on Monday by 9.10% at the time of writing, settling at $2.52 as investors reentered positions in anticipation of Exchange Trade Fund (ETF) listing. The U.S. crypto market vibrated positively as the first spot XRP ETFs may launch next week, with the Depository Trust and Clearing Corporation (DTCC) listing five funds under its ‘active and pre-launch’ category. Acting as a new catalyst, the listing on DTCC hints at imminent approval by the US Securities and Exchange Commission, driving its intraday price surge. While the DTCC listing…
Naira Falls to N1437 as US Dollar Demand Eclipses FX Supply The naira fell to N1437 at the Nigerian foreign exchange market as US dollar demand for international payments eclipsed the supply levels. The Central Bank daily FX update revealed that the spot rate depreciated slightly by 0.05% to ₦1,437.29/$ in the official market even after $50 million in FX sales to authorized dealer banks last week. The official spot FX rate touched an intraday high of N1442 at the CBN window, suggesting that the market was heated up by higher demand for foreign currency. This happened at the time…
“Reckless and Self-Defeating”: UK’s Reported ‘Exit Tax’ Plan Slammed The UK finance minister’s reported plan to impose a 20% ‘exit tax’ on the business assets of wealthy individuals leaving the UK would be “reckless and self-defeating,” warns Nigel Green, CEO of deVere Group, one of the world’s largest independent financial advisory and asset management organisations. Rachel Reeves is said to be considering the introduction of a so-called ‘settling-up charge’ in this month’s Budget, targeting those relocating to lower-tax jurisdictions. The levy could apply capital gains tax to the holdings of people quitting the UK, potentially raising around £2 billion for…