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Real-time News
Supermicro (SMCI.O) shares fell more than 20% in pre-market trading.March 20 – With oil supplies constrained for the third consecutive week, buyers are forced to seek quick alternative sources, and offshore oil reserves, a crucial buffer, are rapidly dwindling. These reserves could decrease even faster if the US proceeds with Treasury Secretary Bessenters proposal to lift sanctions on Iranian oil shipments. Since the start of the war, crude oil and condensate in floating storage have been declining at a rate of 1.8 million barrels per day, one of the fastest declines in years. According to data intelligence firm Vortexa, these reserves currently stand at approximately 78 million barrels, about one-third of which originate from Iran. Goldman Sachs estimates that approximately 131 million barrels of Russian oil and 105 million barrels of Iranian oil are at sea, which will ultimately only offset the impact of a two-week supply disruption in the Strait of Hormuz. Vortexa analyst Emma Li stated that the Islamic Revolutionary Guard Corps could potentially profit significantly if all cargoes were sold as normal barrels. However, mainstream importers will still face constraints in terms of compliance, financing, and logistics, especially if exemptions are deemed temporary or uncertain.ECB Governing Council member Villeroy: France has very little room for maneuver in terms of budget.ECB Governing Council member Villeroy: Interest rate hikes will be decided at each meeting, depending on the specific circumstances.March 20 - Iranian Islamic Revolutionary Guard Corps spokesman Naini was killed in an attack on March 20 local time.
