Friday, March 29, 2024
Home > Crude

China’s Digital Yuan (e-CNY) Used in First International Crude Oil Trade by CBDC: Report

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a

Read More

Oil Prices Surge 4% as US Tightens Sanctions on Russian Crude Exports

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on Thursday targeting two tanker owners involved in shipping Russian oil that exceeded the established price cap.  In a recent development, oil prices saw a remarkable surge, rising by 4% earlier today, following the United States’ decision

Read More

OPEC Raises Forecast of Global Oil Demand, Peak Crude Demand Still Away

OPEC strongly criticized the IEA’s forecast of peak fossil fuel demand before the decade’s end, labeling the IEA’s narrative as “extremely risky,” “impractical,” and “ideologically driven”. OPEC has revised its medium- and long-term projections for global oil demand upward. The oil-producing consortium stated that meeting this increased demand would necessitate

Read More

Researchers allege Bitcoin’s climate impact closer to ‘digital crude’ than gold

The Bitcoin (BTC) bashing has continued unabated even in the depths of a bear market with more research questioning its energy usage and impact on the environment.The latest paper by researchers at the department of economics at the University of New Mexico, published on Sept. 29, alleges that from a

Read More

PrimeXBT Analyst Kim Chua Sees Crude Oil Price Bouncing Off Strong Support at $58 Heading Higher

After steadily moving up since the middle of last year, the price of crude oil succumbed to profit-taking in the last two weeks due to it becoming very overbought.Crude oil has certainly gone through some of the most volatile market conditions over the Covid-19 period. The price of the much-converted

Read More

Venezuela’s President Maduro: Storage Crude Oil to Back Petro Cryptocurrency

President of Venezuela Nicolas Maduro released a statement related the reserves of the Petro, the state backed cryptocurrency of Venezuela. Maduro’s government has been pushing for an increased use of Petro by the Venezuelan citizens.On Wednesday, President Maduro said that some 30 million oil barrels in the country’s storage tanks

Read More