Russia bans diesel exports
Europe is facing its biggest transportation crisis due to dwindling diesel stocks, and it’s about to hit harder now, after Russia said it would temporarily ban gasoline and diesel exports…
Japan still relies on US for monetary policy
The value of the yen fell to a record low, according to the Bank for International Settlements (BIS). However, while this downturn is worrying for the government, Japan still seems…
BOE keeps rates unchanged
The Bank of England expectedly ended its most aggressive cycle of interest rate hikes amid falling inflation and growing fears of a recession, keeping its key rate at 5.25%. The…
Oil, Cracks Soar After Russia Bans Diesel, Gasoline Exports
With Diesel prices already soaring (in anticipation of the highly vaunted soft landing), recently sending the diesel crack to 2023 highs and assuring that refiners have another blowout quarter, Russia…
Fed kept interest rates steady as expected
As expected, the US Federal Reserve decided to hit pause on interest rate hikes while it reviews more data, keeping the benchmark lending rate at 5.5% – a 22-year high.…
Russia becomes UAE’s main gold source
The United Arab Emirates relied heavily on Russia as its primary source of gold in 2022, importing 96.4 tons. This quantity accounted for approximately one-third of Russia’s annual gold production…