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More than 9 million barrels a day of oil production from key Middle Eastern countries are expected to be shut in during April, according to estimates from the US government, as the war in Iran upends global energy markets.
Source
Bloomberg Markets
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The Federal Deposit Insurance Corp., which backs deposits at thousands of US banks, is laying out its guidelines for how those institutions and their fintech subsidiaries can use stablecoins as digital currencies become more widely accepted in the financial system.
Oil from the US emergency reserve is heading to unlikely destinations as the biggest crude-market disruption in history upends decades-old global energy flows.
"The job market is basically stable but not great," Federal Reserve Bank of Chicago President Austan Goolsbee says during remarks at the Detroit Economic Club. Goolsbee also says the rise in oil prices may drive prices up in a stagflationary way. (Source: Bloomberg)
