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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
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While the bond issuance is deemed necessary, it has caused rating agency Fitch to revise its stand on Saudi Aramco from stable to negative.Saudi Arabian multinational petroleum and natural gas company Saudi Arabian Oil Co (TADAWUL: 2222) also known as Saudi Aramco is seeking out a multi-tranche bond deal as
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The Bangladesh branch of global banking firm HSBC has conducted the country’s first blockchain-based letter of credit (LC) transaction on the Contour DLT platform.The transaction was used to settle the importation of 20,000 tonnes of fuel oil from United Group’s Singapore subsidiary United Mymensingh Power.HSBC Bangaladesh’s chief executive, Md Mahbub
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Oil prices climbed above $40 earlier this week, raising hopes that a recovery was underway.Several factors have conspired to keep oil demand and prices low, despite the best efforts of OPEC.Until the global economic climate improves, sustained growth in oil demand will remain a mirage.Oil prices have rallied this week.
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Energy markets, such as Oil, have recently seen growing demand by crypto traders who are seeking new trading opportunities and are keen to gain exposure to new financial markets. Dabbling in new traditional financial markets was historically a challenging experience for most crypto traders in terms of both time and money.
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Coronavirus is ravaging the globe, canceling presidential primaries in the U.S. and calling into question the wisdom of having lawmakers, many of them elderly, sitting close together as votes are held in Congress. Lawmakers, especially Democrats, have sought to expand mail-in voting, and perhaps give some voters the opportunity to
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Bitcoin educator Andreas Antonopoulos sees the recent downturn in oil prices as a net positive for crypto miners worldwide, particularly those at the Bitmain mining facility in Texas.In a video he posted to his YouTube channel on May 27 titled “Down the Rabbit Hole”, Antonopoulos said the falling oil prices
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In the ever-curiouser markets of 2020, bitcoin is only slightly more volatile than the S&P 500 and nowhere close to the bumpy ride oil has been on.In early trading at 00:00 UTC, the world’s oldest cryptocurrency was in $8,800 territory before jumping as high as $9,125 on spot exchanges like
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This will always be remembered as the week when oil went negative.The economic repercussions of this are staggering and will take months to fully comprehend – but, more short-term, one of the most fascinating aspects is how it knocks universally accepted truths about markets right into the oil can. Also compelling
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The Binance-owned crypto derivatives exchange, FTX, has introduced oil futures following the recent record crash in U.S. oil prices — which fell as low as minus-$40 on April 20.FTX’s contracts will expire at the spot price of West Texas Intermediate, or WTI, plus $100 to protect against negative settlement prices.The
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