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December 24 – Despite inherent political risks, Libyas vast fossil fuel potential and "investor-friendly reforms" are attracting global energy companies, a major boost for the oil-rich African nation. A new report from industry consultancy Enverus Intelligence Research shows that the countrys latest round of tenders offers 22 blocks, estimated at 10 billion barrels of recoverable resources and 18 billion barrels of undiscovered resources. "Libyas latest round of tenders marks a pivotal moment for the countrys energy sector," said Tom Richards, senior regional manager at Enverus, in a report released Tuesday. "Optimized fiscal terms, simplified cost recovery mechanisms, and clearer profit-sharing schemes have already attracted significant interest from supergiants and the National Oil Corporation (NOC)." However, the report warns that maintaining growth requires addressing political instability and infrastructure challenges. These issues urgently need to be resolved if the state-owned NOC is to increase production by more than 40% to achieve its 2030 target of 2 million barrels per day.The total number of oil rigs in the United States for the week ending December 26 will be released in ten minutes.On December 24, the Ukrainian State Electricity Company announced that, due to the large-scale missile and drone attacks by the Russian military on the 23rd, all regions of Ukraine will implement time-sharing power outages for residents on the 24th, with industrial users experiencing power rationing simultaneously.Fitch: Global pharmaceutical spending is expected to grow by mid-single-digit percentages in 2026.December 24th - Silver continued its record-breaking rally on Tuesday. "The silver market has been in a supply shortage for five consecutive years, while industrial demand continues to grow, which is the fundamental reality supporting prices. At the same time, safe-haven appeal, expectations of a weaker dollar, and declining yields are also contributing factors," said Peter Grant, Vice President and Senior Metals Strategist at Zaner Metals. "The next target for silver is $75, but year-end profit-taking could trigger a pullback." This followed data showing faster-than-expected US third-quarter growth, after which the dollar recovered some lost ground. A stronger dollar reduces the attractiveness of dollar-denominated metals to overseas buyers.

XRP Bears Target a Return to Sub-$0.38 on Binance and US CPI Jitters

Cory Russell

Dec 13, 2022 15:38

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XRP was back in the red this morning after a NASDAQ Index-driven recovery on Monday as investors awaited information on Binance ahead of the CPI Report.


XRP increased on Monday by 1.44%. XRP finished the day at $0.3868, reversing a loss of 1.35% from the previous day. For the third session in a row, the price of XRP was below $0.39.


XRP experienced a negative start to the day, dropping to an early morning low of $0.3711. At $0.3768 and $0.3724, respectively, the First Major Support Level (S1) and Second Major Support Level (S2) were breached by XRP. However, XRP increased to a late high of $0.38967 after receiving support from a wider market. Before falling back to close the day at less than $0.3870, XRP broke through the First Major Resistance Level (R1) at $0.3872.

A bullish XRP session is delivered by Binance and the NASDAQ Index

Investors were not diverted from the cryptocurrency news wires by updates in the SEC v. Ripple lawsuit, which is still pending.


Investor mood was affected by reports of anomalous behavior on the Binance exchange and a Reuters report that US authorities planned to press charges for financial offences.


Prior to today's US CPI Report, the NASDAQ Index provided much-needed support. Through the afternoon session, demand for riskier assets was driven by expectations of lower inflation numbers and a Fed shift.


The US CPI Report and the NASDAQ Index will serve as today's primary sources of guidance because the SEC v. Ripple case has not yet produced any new developments. Investor concerns following Monday's optimism may put buyer interest to the test before today's data.


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