World’s commercial oil reserves are running out in a matter of weeks
Fatih Birol, head of the International Energy Agency, said this, adding that commercial oil reserves are rapidly being depleted due to Iran’s blockade of the Strait of Hormuz.
Birol said that the release of strategic oil reserves in March added 2.5 million barrels of oil per day to the global market, but noted that these reserves are “not infinite.”
The start of spring planting and summer travel periods in the northern hemisphere are also contributing to the accelerated depletion of available oil.
The IEA previously reported that global oil inventories fell at a record pace in March and April, decreasing by 246 million barrels. #oil #iran $BZ
#Trump'sIranAttackDelayed ‼️Iran warns of the threat of World War III The IRGC said that in the event of new US attacks on Iran, the conflict will expand beyond the region. Tehran still has reserves of uranium close to weapons-grade, and negotiations on the nuclear program have reached a deadlock due to US demands.
The US and its allies are already preparing for the risk of escalating the conflict. Iran has retained 60-70% of its missile potential and most of the production of drones. In response to the threats, the US has strengthened the security of bases in Europe and put some NATO forces on high alert. ‼️If Iran does not agree to a deal, there will soon be an even more powerful blow than the previous one, - Trump
Recall that Iran has threatened to expand the war far beyond the Middle East in the event of a new US attack. #iran #US #oil
🚨🚨 US President Donald Trump’s daughter, Ivanka Trump, was reportedly targeted for assassination by a trained terrorist of Iran’s Islamic Revolutionary Guards Corps (IRGC). #iran #Tramp $BNB
🤯🤯🤯 You won't believe it, but Trump is back with Greenland. US President Donald Trump has published another post on Truth Social, reiterating his interest in the largest island on Earth, which is an autonomous part of the Kingdom of Denmark. "Hello, Greenland!" the caption reads. And what about Venezuela, Iraq, and Cuba?#Tramp #Greenland $BNB
#BankOfAmericaDiscloses53MCryptoETF Gold prices fell slightly on Friday and are headed for a second consecutive week of declines. The market is under pressure from a stronger dollar and rising oil prices, which are fueling expectations of further interest rate hikes by the US Federal Reserve.
The price of one ounce of gold fell 0.33 percent today to $4,527.88. Gold has fallen approximately 0.3 percent for the week.
Gold futures on the New York Comex exchange also fell 0.38 percent to $4,525.30.
The US dollar is hovering near its highest level in six weeks, making gold more expensive for holders of other currencies.
Analysts note that the main factor putting pressure on gold remains the strong dollar, which, in turn, is supported by high interest rates virtually everywhere.
US Secretary of State Marco Rubio said there are "positive signs" in negotiations with Iran, although Tehran's uranium reserves and control of the Strait of Hormuz remain points of contention.
Oil prices rose amid investor doubts about the prospects for progress in the Iran-US talks.
High oil prices are heightening inflation risks and fears that interest rates will remain high for longer. While gold is traditionally considered a reliable hedge against inflation, rising rates are putting pressure on the low-yielding asset.
The Trump administration announced that Kevin Warsh will be sworn in at the White House on Friday as head of the Federal Reserve.
Richmond Federal Reserve Bank President Thomas Barkin said Thursday that the response of businesses and consumers to the current economic turmoil will determine whether the Fed can overcome the current high inflation rate or will have to consider further interest rate hikes.
Among other precious metals, silver fell 0.06 percent to $76.69 per ounce, but ended the week up 0.4 percent. Platinum also fell 0.80 percent to $1,953.50. #GOLD #XAU #PAXG #Fed $XAU
🇺🇦 Binance is preparing a local launch in Ukraine after the adoption of the law on virtual assets.
They want to provide access to hryvnia cards, accounts and all the functionality of the exchange.
In fact, the exchange is already preparing to work “in white” according to the rules that Ukraine adapts to MiCA standards — I don’t know about you, but I don’t see anything positive here 🥲.#Binance #ukraine $BNB
❗️US officially suspends trilateral talks with Ukraine and russia to end war, says Rubio
Washington sees no point in continuing meetings that are not yielding results. We are not interested in getting involved in an endless cycle of negotiations that lead nowhere. #ukraine #US #russia $BNB
🚩Binance added a monitoring tag for: ALCX, COOKIE, DODO, EPIC, HEI, HFT, STORJ, SYN, TLM. That is, later some tokens may completely delist and fall even more. Some will be forgiven if they reanimate their tokens through marketing and volumes. #Binance #DelistingAlert $BNB
⚡️Iran's supreme leader has banned the export of enriched uranium stocks from the country, Reuters reports, citing Iranian sources.
According to the agency, this is exactly what the US demanded for a possible peace deal. Tehran believes that transferring uranium abroad will make the country more vulnerable to attacks by the US and Israel.
Israel has previously stated that it will not agree to an end to the conflict without the elimination of Iran's highly enriched uranium stocks. #iran #oil #US
#Trump'sIranAttackDelayed The oil market is preparing for a long-term crisis due to the US-Iran war. The protracted war between the US and Iran continues to affect the global energy market. Against this background, market participants expect that oil prices may remain near record levels for a long time. Most global market participants expect the average price of Brent crude oil over the next 12 months to be in the range of $81 to $100 per barrel. Almost two-thirds of respondents also believe that an additional “risk premium” of $5-15 per barrel will remain in the market for a long time due to geopolitical risks.
Analysts note that the market does not yet expect the complete destruction of the old pricing model, but considers the current instability to be long-term. #oil #bz #iran