Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore

News

Stay up to date on the latest crypto trends with our expert, in-depth coverage.

banner
Flash
17:44
Fitch Ratings: Full Opening of the Strait of Hormuz Would Likely Return Global Oil Market to Oversupply in About a Month
BlockBeats News, June 16th, Fitch Ratings: If the agreement opens the Strait of Hormuz completely, the global oil market is expected to return to oversupply in about a month. (FX168)
17:44
U.S. Strategic Petroleum Reserve Drops to Lowest Level in 43 Years
Golden Ten Data reported on June 16 that as the Trump administration is set to complete the release of 172 million barrels from the Strategic Petroleum Reserve (SPR) to ease the surge in fuel prices caused by the Iran war, the US emergency oil reserves have dropped to their lowest level since 1983. According to data released by the US Department of Energy on Monday, the SPR—which was established in the early 1970s after the Arab oil embargo—has fallen to about 340 million barrels, close to a record low. If this plan is completed, it will mark the second-largest release in the reserve’s history, leaving about 243 million barrels remaining—only around one-third of its statutory capacity. The continually shrinking stocks reduce the US’s flexibility in responding to future supply disruptions. A spokesperson for the Department of Energy stated that the government is managing the reserve according to its intended purpose: to help stabilize the oil market, protect the US from supply interruptions, and make the country more energy secure.
17:19
The Federal Reserve's fixed-rate reverse repurchase operation accepted $581 million
The Federal Reserve accepted a total of $581 million from 8 counterparties in its fixed-rate reverse repurchase operations.
News