Sophisticated scams target oil traders with fake storage offers The port of Rotterdam has seen a rise in oil storage scams, with fraudsters using fake documents and websites to lure traders into paying for non-existent storage. The scams have been ongoing for about
NZ manufacturing PMI falls to 49.9 in May The New Zealand manufacturing sector slipped into contraction in May, with the PMI falling to 49.9 from 50.4 in April. The decline was attributed to weak demand, high fuel costs, and Middle East tensions. The PMI re
Tehran disputes Trump’s assertion of a broad agreement, demanding $24 billion in frozen funds and Hormuz access before any deal. Iran’s Foreign Ministry denied President Trump’s claim that a deal had been broadly approved, including by the Supreme Leader, citing unresolved
Baghdad seeks to regain control over its hydrocarbon sector as regional tensions and economic survival reshape energy policies beyond OPEC quotas. Iraq’s government is attempting to centralize and rebuild its oil sector, shifting focus from production figures and OPEC quot
Roughly 7 million Bitcoin could be vulnerable to future quantum attacks Coinbase's quantum advisory council is urging blockchain developers to prepare for a post-quantum future. The council estimates that roughly 7 million Bitcoin could be vulnerable due to exposed pu
Trump cancels Iran strikes, citing progress on a deal that could ease sanctions and reopen the Strait of Hormuz within 30 days. Oil prices fell after President Trump announced the cancellation of planned military strikes on Iran, citing progress toward a framework agreemen
GBP/USD gains over a big figure after Trump cancels strikes The British Pound spent most of Thursday leaking lower due to geopolitical tensions, then exploded higher when President Trump canceled planned strikes. The Pound gained more than a full big figure off the lo
Experts warn tech firms' private power plants could shift infrastructure costs to consumers as AI-driven data center growth surges. Tech companies building private power plants for data centers may increase household energy bills, contrary to claims of cost protection. The
Brad Garlinghouse accuses JPMorgan CEO Jamie Dimon of misrepresenting crypto legislation aimed at regulatory clarity in the U.S. Ripple CEO Brad Garlinghouse criticized JPMorgan CEO Jamie Dimon for opposing the Clarity Act, a bill proposing regulatory frameworks for crypto
US-Iran deal removes geopolitical risk premium A potential US-Iran agreement has removed a major geopolitical risk premium from markets. The agreement has sent crude lower, bonds higher, and equities sharply higher. Iranian approval remains outstanding, wit
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