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The declines came as the 10-year Treasury yield surged another nine basis points to a fresh 16-year high of 4.63%. Alongside the rise in interest rates, the price of oil was ahead by more than 3.5% to a new 2023 high of $93.53 per barrel. The term “stagflation” – suggesting
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A Buenos Aires-headquartered oil company, Tecpetrol, has decided to convert excessive gas into energy for cryptocurrency mining.As reported by local media on Sept. 24, Tecpetrol will launch its first gas-powered crypto mining facility in the Los Toldos II Este region, located north of Vaca Muerta in Argentine Patagonia. The company
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Similarly, the global rice market is currently under pressure as China, the world’s top rice producer, deals with severe rain and flood concerns in its grain-producing north-eastern area. Olive oil, a staple in kitchens around the world, has recently become the center of attention due to an unprecedented surge in price.
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Prices of oil in the US hit a 10-month high as oil shortages are expected until the end of the year following Russia and Saudi output cuts. In response to fears of weaker supply, the prices of oil rose on Thursday. The West Texas Intermediate (WTI) crude climbed 1.6% to $90.04
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Saudi Arabia and Russia Monday morning agreed to extend oil production cuts, sending crude to its highest levels of 2023. Original Source
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The Bitcoin (BTC) and Ether (ETH) 90-day price volatility hit a new multi-year low in August as the top two cryptocurrencies continue to trade under their key resistance of $30,000 and $2,000, respectively.According to data shared by crypto analytic firm Kaiko, the 90-day volatility of BTC and ETH hit 35%
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The state-owned Aramco believes that the oil demand forecast for the rest of 2023 is solid even though metrics point to a dwindling economy. Saudi-owned oil and gas firm Saudi Aramco has a strong outlook on oil for the rest of the year as it anticipates healthy demand from India and
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The significance of OPEC+ in the global oil market cannot be understated, as the alliance accounts for approximately 40% of the world’s crude oil production. The impact of Saudi Arabia’s decision to cut oil output has been immediate with oil prices rising in response, reflecting the expectation of a tightening supply. According
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The aviation business faces numerous problems and uncertainties, including fuel pricing, regulatory changes, geopolitical events, economic conditions, and competition from other carriers. Ryanair Holdings Plc (NASDAQ: RYAAY) one of the largest and most well-known low-cost carriers in Europe has reported a full-year net profit pegged at 1.43 billion euros ($1.55 billion).
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Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury secretary, told reporters that she was closely monitoring the banking
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