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18:12
IEA: Oil prices will soon begin to reflect the severity of the crisis
The official stated at an event hosted by the Atlantic Council that this conflict, as well as the near closure of the Strait of Hormuz, has resulted in about 13 million barrels of supply being halted daily. He warned that more than 80 energy facilities have already been damaged during the hostilities, and the recovery process could take up to two years. The Paris-based agency has previously described the current supply disruption as the most severe in history. Read more
18:01
With U.S. support, KoBold launches a $50 million lithium exploration project in Congo
KoBold is an artificial intelligence (AI)-driven mining company that has previously been active in copper exploration in Zambia. The company stated that this lithium exploration plan covers 13 exploration licenses and includes an aerial survey of 30,000 square kilometers (18,640 square miles), large-scale drilling, and extensive geochemical sampling, with lithium being its primary target.
17:43
Chicago Fed President Goolsbee (2027 FOMC voting member): This oil shock is different from that of the 1970s
If I see consumer confidence deteriorate, I wouldn't be surprised either.
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