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  • Dec 18, 2024

Glencore Boosts Middle East Oil Buying for Singapore Bukom Plant

(Bloomberg) -- Glencore Plc has emerged as an active buyer of spot oil cargoes from the Middle East this month, as the merchant starts procuring crude for the Bukom refinery in Singapore, according to traders.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalThe company purchased three cargoes of Qatar’s Al-Shaheen grade and at least one of Abu Dhabi’s Upper Zakum, the traders said, asking not to

  • Dec 18, 2024

Southeast Asian Stocks to Offer Shelter Amid Trump Threat

(Bloomberg) -- Global investors are looking to Southeast Asia for some shelter as they brace for uncertainties surrounding Donald Trump’s trade policies, boosting prospects for the region’s stocks in the coming year.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousThe US president-elect’s targeted tariff plan for China is likely to accelerate a shift in global supply chains and foreign direct investment that may favor the region, analysts said. Meanwhile, ec

  • Dec 18, 2024

Powell Signals Fed’s Focus Has Returned Firmly to Inflation

(Bloomberg) -- Federal Reserve officials capped 2024 with a third-straight interest-rate cut and a strong signal that inflation concerns are back in the fore. Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousChair Jerome Powell put it plainly: The central bank’s year-end inflation projection has “kind of fallen apart.”Listen to the Here’s Why podcast on Apple, Spotify or anywhere you listen.Officials now see it taking much longer for inflation to reach their

  • Dec 18, 2024

Why Major Cryptocurrencies Wilted on Wednesday

On Wednesday, there was a distinct stumbling-near-the-finish-line quality to the crypto market. Although the Federal Reserve's rate cut announced that day was welcome, if expected, speculation about future slices wasn't as encouraging. Bitcoin (CRYPTO: BTC), which vaulted above the $100,000 price level recently and seems determined to stay there, nevertheless was down by almost 5% as of 4 p.m. ET.

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