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The Russian Foreign Ministry announced on April 2 that Foreign Minister Sergey Lavrov and Saudi Foreign Minister Faisal held a telephone conversation that day, expressing serious concern over the continued deterioration of the military and political situation in the Persian Gulf region. Both sides emphasized the urgent need to end the military confrontation, which has resulted in civilian casualties and severe damage to civilian infrastructure, including to countries not directly involved in the conflict. They affirmed the need to intensify political and diplomatic efforts to peacefully resolve the Middle East crisis, based on international law and taking into account the legitimate interests of all countries in the region. Against this backdrop, both sides reiterated their firm commitment to maintaining close diplomatic policy coordination between Russia and Saudi Arabia, particularly within the framework of the United Nations.Ukrainian President Zelensky: Ukraine can help its partners support security in the Strait of Hormuz.According to TASS: Russian Foreign Minister Lavrov spoke by phone with the Iranian Foreign Minister.Energy services company Baker Hughes said Thursday that U.S. energy companies added the number of oil and gas rigs this week for the first time in three weeks. As an early indicator of future production, the number of oil and gas rigs increased by five in the week ending April 2, reaching 548. Baker Hughes said that despite this weeks increase, the total number of rigs is still 42 fewer than the same period last year, a decrease of 7.1%. Baker Hughes said that two oil rigs were added this week, reaching 411; and three gas rigs were added, reaching 130. Due to falling U.S. oil prices, prompting energy companies to focus more on improving shareholder returns and paying off debt rather than increasing production, the number of oil and gas rigs is projected to decline by about 7% in 2025, 5% in 2024, and 20% in 2023.Amazon (AMZN.O) will begin charging sellers using its fulfillment services a 3.5% "fuel and logistics" surcharge later this month, joining a growing number of logistics companies raising shipping costs due to rising oil prices caused by the Iran war. For Fulfilled by Amazon (FBA) customers, the fee will take effect on April 17 in the United States and Canada. Starting May 2, Amazon will charge the surcharge on goods shipped by merchants selling on its own website or through other retailers. An Amazon spokesperson said in a statement Thursday, "Rising fuel and logistics costs have increased operating costs across the industry. We have absorbed these cost increases so far, but like other major logistics companies, we implement temporary surcharges to partially offset these costs when they remain high." More than 60% of the products on Amazons platform are sold by independent merchants who pay Amazon sales commissions as well as warehousing and fulfillment fees. This additional fee demonstrates that Amazon is using its marketplace model to pass on rising costs to merchants rather than consumers.

Crypto Cloud Storage STORJ Leads Rally by 55% As ETH, BTC Consolidate

Jimmy Khan

Jun 24, 2022 14:48

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The top cryptocurrencies were anticipated to be driving the rise when the cryptocurrency market passed the $900 billion threshold today.


Storj managed to seize dominance, overtaking every other significant cryptocurrency with its ascent despite the fact that it turned out to be a relatively unknown coin.

Storj?

Indeed, Storj. The asset is, as it sounds, the native token of a cloud storage platform supported by cryptocurrencies, which until today was merely another coin.


However, the altcoin's one-day increase of 55.08 percent succeeded to place it on the map both literally and figuratively, as it joined the top 100 cryptocurrencies list.


Due to the price increase, the asset's market value increased by approximately $100 million during the course of the previous day. This increased the asset's overall growth over the preceding nine days to a total of 156.7 percent.


More than half of the losses that the cryptocurrency sustained during the May 65 percent fall were also nullified by this rebound in addition to the losses registered by the altcoin this month during the June 9 crash.


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The green candle, which closed above both the 100-day SMA and the 50-day Simple Moving Average (red line), insured that the gain was sustained (blue line). The 200-day SMA (purple line), which would effectively transform this into a bullish run, is also getting closer.


Additionally, after more than two months, the Awesome Oscillator switched the active trend's direction from bearish to bullish, with the green bars climbing above the neutral.


Now, it has to be seen if the asset will be able to sustain this growth moving forward or if it will just be another one-day wonder.

Ethereum and Bitcoin Take a Break

The king currencies have been moving slowly, essentially not at all, as the altcoins have taken the lead.

BTC has made little progress at all during the past week, hovering around the $20k to $21k level, whereas ETH recently broke the $1.1k threshold.


However, Bitcoin's recovery has been so sluggish that the king currency has not yet reached the upswing stage that every other altcoin is presently in.


Additionally, the Relative Strength Index (RSI), which has been signaling a trend reversal for more than two months, shows that BTC is still trapped in the negative zone.


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