Canada International Merchandise Trade registered at $4.24B above expectations ($2.7B) in May

The post Bitcoin Retraces As Oil Tanker Attacks in Strait of Hormuz Escalate U.S.-Iran Tensions appeared on BitcoinEthereumNews.com. Bitcoin is down today, falling below the psychological $63,000 level after a rally above $64,000 yesterday. The drop below $63,000 today follows attacks on oil tankers in the Strait of Hormuz, a development that further escalates tensions between the U.S. and Iran. Bitcoin Falls Amid Attack On Oil Tankers In Strait of Hormuz In an X post, the UK Military Center revealed an attack on an oil tanker in the Strait of Hormuz, with the tanker sustaining minor structural damage. This marked the second attack on an oil tanker in the Hormuz Strait today. The UK Military earlier reported about an oil tanker that also suffered structural damage. Meanwhile, there have now been attacks on vessels in the Strait in the last 24 hours. Bitcoin has retraced amid this development that again escalates tensions between the U.S. and Iran, with Qatar accusing Iran of being resp

The post Oil: Deficits support higher prices – TD Securities appeared on BitcoinEthereumNews.com. TD Securities’ Ryan McKay argues that Crude Oil is far from oversupplied, with high-frequency global and Chinese balances still pointing to tightness. McKay expects ongoing market deficits, inventory drawdowns and the rebuilding of buffers to keep prices elevated, projecting a recovery toward $90/bbl and possible extension toward $100/bbl as structural tightness persists. Structural tightness and deficit outlook “Our high-frequency estimates of global and Chinese supply-demand balances, along with Middle Eastern production, continue to point to market tightness despite increased flows through the Strait of Hormuz. Ongoing market deficits, inventory drawdowns, and longer-term rebuilding of market buffers should see prices recover toward $90/bbl, with potential for a move toward $100/bbl.” “Flows through the Strait of Hormuz have increased notably since the signing of the MoU [Memorandum of

The strikes in the Strait of Hormuz highlight vulnerabilities in global energy supply chains, impacting oil prices and crypto market stability. The post British military reports strikes on three tankers in Strait of Hormuz appeared first on Crypto Briefing.

The post Iran Reportedly Hits Ships in Strait of Hormuz: Oil Price Jumps Again appeared on BitcoinEthereumNews.com. Oil prices climbed on Tuesday after Iran reportedly fired at least two missiles at commercial ships crossing the Strait of Hormuz, reviving fears over the world’s key oil chokepoint and the fragile truce between Washington and Tehran. The rebound landed just days after crude erased its entire war premium and sank closer to pre-war levels.  Oil Rebounds Following Sharp Slide Toward Pre-War Levels West Texas Intermediate (WTI) crude rose 1.50% to $69.575 on Tuesday. Brent crude gained 1.64% to $73.169. The wider energy sector also gained. Gasoline rose 0.17%, and heating oil added 0.62%, while natural gas climbed 1.48%. Follow us on X to get the latest news as it happens Oil Prices Rise on Tuesday. Source: TradingEconomics Both oil benchmarks sit far below their wartime highs. Brent has dropped more than 22% over the past month, and WTI has fallen nearly 24% in the same spa

The proposed pipeline could reshape regional alliances, reduce reliance on the Strait of Hormuz, and influence global oil market stability. The post Israel proposes $10B oil pipeline to bypass Strait of Hormuz appeared first on Crypto Briefing.

Central banks' shift from the US dollar signals a move towards a multipolar monetary system, with increased reliance on gold and the euro. The post OMFIF survey shows central banks planning to cut US Dollar exposure for first time ever appeared first on Crypto Briefing.

The post Gold: Price dip seen limited as PBoC buying continues – Commerzbank appeared on BitcoinEthereumNews.com. Commerzbank’s Carsten Fritsch notes Gold fell to USD 4,120 per ounce after fresh Iranian attacks lifted TTF gas and Oil prices, but Fed rate expectations remain unchanged. He argues downside is limited, as the People’s Bank of China has bought Gold for 20 straight months, recently accelerating purchases and adding 33 tons over the last three months on the lower price environment. Chinese demand cushions recent weakness “The price of gold fell to USD 4,120 per troy ounce this morning following Iranian attacks on two cargo ships and an LNG tanker in the Strait of Hormuz. As a result, the TTF natural gas price rose significantly, and oil prices also edged up slightly, fueling inflation concerns.” “However, there was no change in Fed rate hike expectations. The market continues to anticipate interest rate hikes by the Fed of around 30 basis points by the end of the year. As a r

The post Bitcoin Holds Near $63K as Coffee Outshines Crypto and Gold appeared on BitcoinEthereumNews.com. Bitcoin News Bitcoin (BTC) traded quietly this week even as the single best trade across global markets came from an unlikely place: the coffee aisle. While Bitcoin and gold absorbed most of the attention, arabica coffee delivered a move neither could match, jumping in one session by a margin that dwarfed the crypto majors. For traders tracking Bitcoin as a macro barometer, the contrast is instructive: the flagship digital asset posted a steady but modest advance, while a soft commodity staged one of the largest daily rallies of the century, underscoring how rotation into hard assets is reshaping this cycle. The commodity that stole the spotlight was arabica coffee, which surged 16.19% on Monday for its biggest single-day gain this century and closed at a 5.5-month high. Robusta contracts climbed 8.83% in the same session to a five-month peak. The advance lifted coffee futures roug