Oil Prices Stabilize After Significant Loss

Tina Collins

Oct 30, 2024

Crude oil prices stabilized after experiencing their worst daily loss in 17 months.

The US announced plans to buy oil to replenish its strategic reserve, boosting investor sentiment.

Reports indicate China may approve a financial package exceeding 10 trillion yen to support its economy.

Optimism about potential recovery in oil demand is linked to Donald Trump’s possible election victory in the US.

NEW US BILL PROPOSES SELLING GOLD TO BUY BITCOIN

NEW US BILL PROPOSES SELLING GOLD TO BUY BITCOIN A new bill has been proposed by US Senator Cynthia Lummis. The bill aims to establish a national strategic reserve of Bitcoin. Lummis suggests selling part of the US Federal Reserve’s gold reserves to finance Bitcoin purchases. The proposal aligns

MICROSTRATEGY BUYS $4.6 BILLION WORTH OF BITCOIN IN HISTORIC DEAL

MICROSTRATEGY BUYS $4.6 BILLION WORTH OF BITCOIN IN HISTORIC DEAL The company bought 51,780 Bitcoin for about $4.6 billion. This is MicroStrategy's biggest Bitcoin acquisition since it began investing in 2020. MicroStrategy now holds more than $29 billion in Bitcoin. The Bitcoin was bought between

US FEDERAL RESERVE PREPARING A STRONG SURPRISE FOR MARKETS

US FEDERAL RESERVE PREPARING A STRONG SURPRISE FOR MARKETS Nomura expects the US Federal Reserve to pause rate cuts in December 2024. Nomura anticipates two 25 basis point cuts in 2025 (March and June), leaving the federal funds rate at 4.125% through next year. Goldman Sachs and JPMorgan expect

GOLDMAN SACHS EXPECTS RBA AND NZRB TO CUT INTEREST RATES

GOLDMAN SACHS EXPECTS RBA AND NZRB TO CUT INTEREST RATES Goldman Sachs predicts the Reserve Bank of Australia (RBA) will cut rates by 25 basis points in February 2025. Goldman Sachs expects the Reserve Bank of New Zealand (NZRB) to cut rates by 50 basis points twice more. The final

Read more

NEW US BILL PROPOSES SELLING GOLD TO BUY BITCOIN

MICROSTRATEGY BUYS $4.6 BILLION WORTH OF BITCOIN IN HISTORIC DEAL

US FEDERAL RESERVE PREPARING A STRONG SURPRISE FOR MARKETS

GOLDMAN SACHS EXPECTS RBA AND NZRB TO CUT INTEREST RATES