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…
China keeps rates unchanged as economy finds footing
China kept benchmark lending rates unchanged at its monthly fixing on Wednesday, matching expectations, as new signs of economic stabilization reduced the need for immediate monetary easing. Recent economic data…
“Big Mess”: Panama Canal Hit By 200 Ship Bottleneck
A parking lot of vessels has formed on either side of the Panama Canal as a worsening drought in the Central American country has reduced the number of ships able…
US real estate market collapsed 45% for the year
The rise in the cost of mortgage loans has led to a massive buyer exodus from the US real estate market. Overall, investors bought 45% less real estate at the…