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Market news: Serbian oil company NIS has been granted another exemption by the United States.On April 18, the U.S. Department of Energys Strategic Petroleum Reserve Program Management Office announced on its website that it would lend more than 26 million barrels of crude oil from the Strategic Petroleum Reserve to nine oil companies. This is the third batch of oil reserves released by the Trump administration to stabilize oil prices since the start of the Iraq War on February 28.On April 18th, ahead of tense trade negotiations, U.S. Commerce Secretary Rutnick fiercely criticized Canada, calling the USMCA a "bad deal" that needs to be revised. Rutnick stated that President Trump believes the USMCA "needs to be reconsidered and properly reimagined" when new negotiations begin in July. Rutnick said reports that Canada is delaying trade negotiations with the U.S. are "the worst tactic Ive ever heard of. Its absolutely terrible." Trump signed the 2020 trade agreement during his first term to replace NAFTA.Five Iranian oil tankers attempted to circumvent a U.S. blockade by concealing their navigation data. A U.S. destroyer forced three Iranian tankers to return to port and is pursuing the remaining two.On April 18th, two State Council decrees were issued in quick succession over the past two weeks: Decree No. 834 promulgated the "Regulations of the State Council on the Security of Industrial and Supply Chains," and Decree No. 835 promulgated the "Regulations of the Peoples Republic of China on Combating Undue Extraterritorial Jurisdiction by Foreign Countries." These two administrative regulations share a strong commonality in content, both clearly targeting improper foreign conduct. An official from the Ministry of Justices Bureau of Foreign-Related Legal Affairs stated that the "15th Five-Year Plan" explicitly points out the need to accelerate the construction of a legal system and capacity for foreign-related affairs. It is imperative to strengthen the rule of law mindset, utilize legal methods, effectively address challenges and prevent risks, and comprehensively employ legislative, law enforcement, and judicial means to resolutely safeguard national sovereignty, dignity, and core interests. This means that in dealing with complex international struggles, legal means will be given a more prominent position. These two new regulations already embody this spirit.

Bitcoin falls below $19,000 as cryptos creak under rate hike risk

Skylar Shaw

Sep 20, 2022 14:27

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On Monday, cryptocurrency prices hit new lows as a result of regulatory worries and a general investor reluctance to engage in risky assets due to impending interest rate increases.


By market value, Bitcoin, the most valuable cryptocurrency, dropped almost 5% to a three-month low of $18,387.


The second-largest cryptocurrency, ethereum, lost 3% to a two-month low of $1,285 and had lost more than 10% in the previous day. The majority of the smaller tokens had larger losses.


Over the weekend, a significant update to the Ethereum blockchain—which supports the ether token—called the Merge changed how transactions are handled and reduced energy consumption.


The value of the token has decreased amid rumors that comments made last week by Gary Gensler, chairman of the U.S. Securities and Exchange Commission, suggested the new structure would draw further regulation. The upgrades' surrounding trades were likewise unwound.


The regulatory outlook is guesswork, according to Matthew Dibb, COO of Singapore's Stack Funds cryptocurrency platform.


Since the Merge, the markets have shed a lot of their excitement, he said. Given the uneasy global background, he said, "It's truly been a sell-the-news sort of event," and predicted that ether will test $950 in the near future.


"From a basic and technological standpoint, the current situation does not appear promising. There isn't a clear quick positive trigger that will support these markets and inject a ton of fresh cash and liquidity, in our opinion.

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