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11:01
Arizona's Digital Asset Reserve Bill Nears Final Vote, Allowing the State to Hold Seized BTC and XRP
Odaily reports that the Arizona Digital Asset Reserve Bill is approaching its final vote, allowing the state to hold seized BTC and XRP instead of auctioning them. (Cointelegraph)
11:01
European Central Bank's Mahrouf: If the Middle East war continues, the eurozone will face an adverse scenario
```htmlAccording to Golden Ten Data on April 1st, European Central Bank official Mahrouf stated that if a prolonged war breaks out in the Middle East, the eurozone economy will perform worse than the baseline scenario set by policymakers last month. He said: “As the conflict persists without a clear resolution, a longer period of high prices becomes more likely. This is gradually approaching the adverse scenario predicted by staff.” He noted that currently energy prices are between the baseline scenario and the adverse scenario, but “true uncertainty still exists.” The adverse scenario expects inflation to rise to 4.2% later this year, while the economy will only contract in the second quarter.```
10:57
The spot premium for Middle Eastern crude oil declines, but Saudi official prices for Asia may set new records again.
⑴ On Wednesday, Middle Eastern benchmark crude oil spot premiums declined, with Oman, Murban, and Dubai all falling amid quiet trading. This was mainly dragged down by crude oil futures giving back earlier gains. Market uncertainty over the Middle East situation and reports that Trump hinted the US-Israel conflict with Iran could be nearing its end caused volatile investor sentiment.⑵ After large-scale supply disruptions, Middle Eastern oil has become the most expensive crude oil globally. The flagship Arab Light Oil’s OSP could carry a premium of $22.50 to $40.50 over the average prices of Dubai and Oman.⑶ Saudi oil price forecasts have a wide range, reflecting the significant uncertainty faced by Asian buyers as shipping through the Strait of Hormuz remains restricted. It is still unclear when a ceasefire will be reached and when leading oil producers such as Saudi Arabia, UAE, and Iraq will be able to resume exports through the strait.⑷ In terms of spot trading, the cash Dubai premium over swaps fell by $1.23 to $19.80 per barrel. Multiple deals were reached between Shell and Vitol, with prices concentrated at $108.90 per barrel, indicating the market is seeking a new price equilibrium after intense volatility.
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