Nord Stream damaged & gas rises

Leaders in Europeย thought the two explosions that destroyed the pipelines used to transport Russian natural gas to Europe were intentional. However, some officials accused the Kremlin of being behind the explosions, saying they were meant to be a warning to Europe. Meanwhile, EU gas is up 13% on Wednesday.

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WTI oil moves higher ๐Ÿ“ˆ

WTI crude oil increased toward $80 after a decline in US crude inventory by 8 million barrels last week. An upcoming OPEC+ meeting sparked fears of further output restrictions, as OPEC+ is supposed to meet on Dec. 4th to decide on output strategy. Rumors that the cartel will reduce output further in response to market weakness are gaining momentum.

WTI oil dives below $74 ใ€ฝ๏ธ

WTI crude oil fell more than 3% below $74, the lowest price in one year. Widespread protests in China over its strict zero-Covid policy hurt investor confidence and the outlook for demand. Oil prices were also pushed down by reports that the US had granted Chevron Corp permission to restart oil production in Venezuela.

US natural gas surges 10% ๐Ÿ”ฅ

US natural gas jumped more than 10% above $7.5 on Wednesday to levels not seen since early October. Strong domestic and international demand in advance of the upcoming winter season is fueling the growth. Additionally, Europe is yearning for US exports due to Russia’s threat to further reduce supply.

Copper continues to decline ๐Ÿ“‰

Copper futures fell below $3.6 after almost reaching $4 on November 11th. Other metals also declined as signals of weak demand and a strengthening US dollar overshadowed impending supply deficit worries. Moreover, industrial production fell more than anticipated in October from the world’s largest consumer, China.

WTI Crude oil tumbles ๐Ÿ“‰

WTI crude oil fell to $79 on Friday, the lowest level in four weeks. Oil is down by more than 11% lower in one week as a deteriorating demand outlook eclipsed supply-side worries. Recurring Covid outbreaks in China crushed reopening expectations and cast doubt on the demand outlook in the top world’s crude importer.

WTI Crude oil continues to fall ๐Ÿ“‰

WTI Crude oil fell 6% this week and 2.5% today. Oil dropped despite inventories falling by 5.4 million barrels compared with market expectations 0.44 million barrel decrease. Following a brief interruption, the Druzhba pipeline is operating normally, and the fear of COVID outbreaks in China may draw oil prices even lower.

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Porsche NFTs coming

Porsche plans to launch its first Web3 project, which will consist of 7,500 NFTs. The NFT collection is based on the classic Porsche 911 and will launch in January 2023. Each NFT will be built as a unique 3D asset in Unreal Engine 5.

Indonesia plans to launch digital rupiah

Indonesia is about to launch its own central bank digital currency (CBDC) in 2023. Bank Indonesia has said that the first phases of CBDC will be for business-to-business transactions and that retail transactions will be added later.

EU inflation eases to 10%

The annual inflation rate in the Euro Area decreased back to 10% from a record high of 10.6% in October. The result exceeded market expectations by 10.4%, finally declining after several increases.

WTI oil moves higher ๐Ÿ“ˆ

WTI crude oil increased toward $80 after a decline in US crude inventory by 8 million barrels last week. An upcoming OPEC+ meeting sparked fears of further output restrictions, as OPEC+ is supposed to meet on Dec. 4th to decide on output strategy. Rumors that the cartel will reduce output further in response to market weakness are gaining momentum.

Australia’s inflation decreases to 6.9%

Australia’s annual inflation rate fell to 6.9% in October 2022. It decreased from September’s record high of 7.3% and fell short of expectations of 7.4% due to a lower increase in food prices.

Phantom expands its reach

One of the largest Solana-based wallets Phantom is expanding to other blockchains. The wallet will expand to Polygon and Ethereum, threatning the market leader Metamask. Phantom reportedly now has more than 3 million users.

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A good day for oil, not so good for stocks and dollar
EURUSD
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A good day for oil, not so good for stocks and dollar

Markets saw oil gain second day in a row caused by OPEC+ speculations. Stocks were mostly down as production may halt again in China.