Business

Commodity traders have booked at least six tankers – provisionally – to start shipping gasoline from Europe to the US in the wake of the outage of the Colonial Pipeline network, Reuters reports, citing data from Refinitiv.

With fears growing that the Colonial shutdown could last for much longer than initially expected, with some analysts warning that a 5-day shutdown could lead to sharply higher prices, and the Biden admin activating a state of emergency to make sure that critical gasoline supplies continue to flow up the eastern seaboard, moments ago Colonial Pipeline issued an update on its attempts to restore operations, saying that "segments of our pipeline are being brought back online in a stepwise fashion" and that the goal now is to "substantially" restore operational service by the end of the week.

Crude and fuel price rose on Monday as one of the largest fuel pipeline systems in the US remained largely shut down after a reported cyberattack. The US has declared a state of emergency in 17 states due to the situation.

Soaring commodity and house prices are further proof that inflation is here to stay and it is much higher than the Federal Reserve wants Americans to believe, according to Max Keiser and Stacy Herbert.

We live in a world where words are very carefully chosen.

On the heels of record highs in Iron Ore and Steel earlier this week, as commodity demand soars on the back of economies emerging from COVID lockdowns (demand) and various supply chain/operational issues (supply); copper prices surged to an all-time high this morning as Chinese investors unleashed fresh demand following a five-day holiday.

The founder of Tesla and SpaceX, Elon Musk, is a vocal advocate of cryptocurrency, being especially supportive of 'dogecoin' - a crypto based on a shiba inu dog meme that was created ironically.

Real price tag could be as much as $119,000 per federal taxpayer!

The U.S. economy added just 266,000 jobs in April and the unemployment rate ticked up to 6.1 percent, the Labor Department said in its monthly labor assessment Friday, smashing expectations.

President Biden said his tax proposal is not about 'punishing anybody'