Oil prices climb as COVID recovery, power generators stoke demand

Oil prices climb as COVID recovery, power generators stoke demand

General view of Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed JadallahBrent touches highest since Oct 2018, WTI highest since Oct 2014U.S. drillers add oil and gas rigs for sixth week in a rowChina cuts independent refinery oil import quotasSINGAPORE, Oct 18 (Reuters) – Oil prices hit … Read more

Still Early but Crypto Can Be Used for Oil Trade Settlements, Store of Value – Economics Bitcoin News

Putin: Still Early but Crypto Can Be Used for Oil Trade Settlements, Store of Value

Accusing the U.S. of undermining the dollar through money printing and sanctions policy, President Vladimir Putin has admitted that cryptocurrency can be utilized for settlements in the future, although it’s too early to do that in oil trade. While noting that it lacks backing, the Russian leader assumed crypto could be used to store value … Read more

Russia’s Putin says crypto has ‘value’ — but maybe not for trading oil

Russia's Putin says crypto has 'value' — but maybe not for trading oil

Russian President Vladimir Putin delivers a speech during the Russian Energy Week event on October 13, 2021 in Moscow, Russia.Mikhail Svetlov | Getty ImagesRussian President Vladimir Putin thinks cryptocurrencies have value — but he’s not convinced they can replace the U.S. dollar in settling oil trades.Some months ago, Russia’s deputy prime minister, Alexander Novak, suggested … Read more