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Energy consultants say U.S. drivers could see gas prices rise to $4 a gallon this weekend.British Defense Secretary Healy: We have eight fighter jets in Qatar.On March 10, Russian President Vladimir Putin urged the countrys oil and gas producers to take advantage of soaring commodity prices to reduce debt, as the price surge is only temporary. Speaking at a meeting with government officials and energy company executives, Putin stated that oil production relying on the Strait of Hormuz, which is "effectively closed" due to the Middle East conflict, "could potentially come to a complete halt within a month." He added that restoring liquefied natural gas (LNG) production in the region would take "weeks or even a month," and that "it is impossible to quickly make up for lost production." Putin stated that Russia "must understand that the current high commodity prices are certainly only temporary" and should act accordingly. "The change in the supply and demand balance of hydrocarbons will inevitably bring about a new price stabilization. This is inevitable, therefore, Russian energy companies must seize the current opportunity, including using additional export revenue to reduce their debt burden on Russian banks."Market news: Iran loaded 2 million barrels of crude oil from the Jask export terminal, marking the first time crude oil shipments have bypassed the Strait of Hormuz since the escalation of the US-Iran conflict.On March 10, Ukrainian President Volodymyr Zelenskyy posted on his official social media platform that the priorities and full attention of Ukraines partner countries are currently focused on the situation in the Middle East, therefore the meeting originally scheduled for this week at the suggestion of the United States has been postponed. Zelenskyy stated that he held a meeting with the Ukrainian negotiating team that day and instructed them to communicate with the US negotiating representatives: firstly, to reaffirm Ukraines willingness to engage in strategic cooperation on security issues, particularly in the defense of drones; and secondly, to reaffirm Ukraines willingness to undertake substantive work to end the Russia-Ukraine conflict.

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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