Oil Prices Soar After Ukraine Strike on Major Russian Export Hub

Glendon

Political

Commodity

Russia-Ukraine Conflict

Summary:

A Ukrainian drone attack on the Russian Black Sea port of Novorossiysk, one of the country’s most significant oil export hubs, triggered renewed fears of supply disruptions...

Oil prices jumped in early Asian trade on Friday morning as markets responded to renewed Ukrainian attacks on Russia's energy infrastructure. A Ukrainian drone attack on the Russian Black Sea port of Novorossiysk, one of the country's most significant oil export hubs, triggered renewed fears of supply disruptions.

At the time of writing, WTI had risen 2.71% to $60.30...

The attacks damaged a ship, nearby apartment buildings, and an oil depot, injuring three crew members aboard the vessel, Russian regional authorities confirmed.

Ukrainian forces have increasingly targeted Russian oil-refining, storage, and export infrastructure using drones and missiles.

The campaign has gained intensity in recent months, with the Center for European Policy Analysis noting a shift in strategy "from smaller-scale strikes on storage tanks to targeting hard-to-replace refinery equipment, like cracking units, much of it western-made and subject to sanctions."

"The intensity of these attacks has increased, it's much more often. Eventually they could hit something that causes lasting disruption," said Giovanni Staunovo, commodity analyst at UBS.

If Ukraine continues to press its deep-strike campaign and Russia faces rolling or compounding infrastructure losses, the supply risk to global oil markets could rise meaningfully.

Russian oil supply is being further suppressed by renewed U.S. sanctions, most notably new restrictions on Russian oil majors Rosneft and Lukoil, effective Nov. 21, prohibiting transactions with the companies as Washington increases pressure on Moscow.

The broader oil market outlook, however, remains bearish, with U.S. crude inventories rising and multiple warnings of a severe glut in 2026.

Source: Zero Hedge

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

Add to Favorites

Samantha Luan

Forex

Political

Economic

Malaysia said it's entered mediation talks with Julius Baer Group Ltd. in a bid to settle a $112 million lawsuit filed against the Swiss bank by a unit of the failed 1MDB development fund.

SRC International (Malaysia) Ltd. sued the Zurich-based firm in 2021, claiming a breach of fiduciary duty for its role in the scandal, according to a filing with a Hong Kong court.

"Mediation is ongoing,"' Johari Abdul Ghani, chairman of the 1MDB asset recovery task force, told Bloomberg News Thursday in response to questions.

Baer declined to comment when asked whether it's participating in mediation talks. The firm stands by a statement in its first-half earnings report that it's contesting the claim, "while taking appropriate measures to defend its interests," a spokesperson said.

The Malaysian fund collapsed in 2016, spawning multiple lawsuits against banks across Asia, Europe and the US. 1MDB was originally intended as a development fund to finance big infrastructure projects and spur economic growth in the Southeast Asian country. Instead, alleged mastermind Jho Low and his co-conspirators were suspected of using 1MDB as a scheme to pay bribes and enrich themselves.

In August, JPMorgan settled a case filed in Malaysia, agreeing to pay 1.4 billion ringgit ($339 million) "without admission of liability." The Singapore High Court two months later blocked attempts by 1MDB liquidators to sue Standard Chartered Plc and BSI Bank Ltd. over transactions allegedly linked to the collapsed fund, citing technical grounds.

SRC obtained two loans from Malaysia's state-controlled pension funds for investing in energy resources for the benefit of Malaysians, according to the suit. The firm, under its management, instructed Baer to make "fraudulent payments" totaling about $112.5 million to third parties.

Julius Baer carried out the payments from 2013 to 2016, even though the 1MDB scandal had been publicized internationally by then, and there were "'red flag' grounds for suspicion" about SRC's management, the suit alleged.

Separately in Malaysia, a suit against Deutsche Bank AG for $1.1 billion in damages is currently set for trial in January. The German bank is going to fight the case, said people with knowledge of the matter who asked not to be named because the case is still before the court. A Deutsche Bank spokesperson declined to comment.

As of the end of July, about 42.2 billion ringgit has been channeled to finance debt repayments and other commitments of 1MDB, according to the finance ministry. The Malaysian government has recovered 29.7 billion ringgit of funds relating to 1MDB and its former unit SRC International Sdn. since the establishment of the assets recovery account, the ministry said.

Source: Bloomberg Europe

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

Add to Favorites

Warren Takunda

Economic

Pound exchange rates and gilts could come under extended pressure in coming days after news Chancellor Rachel Reeves abandoned plans for a manifesto-breaking rise in income tax.

The decision means the government is at real risk of failing to meet its fiscal rules designed to keep a lid on UK debt growth.

"Watch the gilt markets and sterling this morning after the uk income tax climb down," says Kathleen Brooks, analyst at XTB. "Big unfunded spending plans don’t sit well with bond traders."

The Financial Times says the decision to leave income taxes unchanged was communicated by the Treasury to the Office for Budget Responsibility on Wednesday.

According to the report, Reeves will instead raise revenue by lowering the threshold at which people pay higher rates of income tax.

Also, a "smorgasbord" of smaller measures is now under consideration that points to a messy, multi-pronged attack on earners and the productive sector at the November budget.

Pound Sterling Dives on Income Tax Climbdown Alarm Bells_1

Above: Pound-euro falls below 1.13.

Why This Matters to the Pound

"Good grief," says Julian Jessop, a noted economist. "This latest and biggest U-turn is presumably a political decision, made by No.10 to try to save Starmer, which risks shredding any credibility with the markets."

Raising income tax was the most credible route to raising the estimated £30BN required to put the government's fiscal trajectory back on a credible path. We have reported that although it would be difficult for workers to swallow, for the pound it was a 'least-bad' move.

This is because income tax is one of the three big tax earners, alongside VAT and National Insurance, meaning it would credibility provide the revenues to stabilise the finances.

Pound Sterling Dives on Income Tax Climbdown Alarm Bells_2

Above: Why income tax matters - it's a big source of revenue.

By targeting smaller tax sources, Reeves risks shifting taxpayer behaviour and actually receiving less revenue.

These taxes also risk hurting the economy, as did the national insurance tax increase in the previous budget, which has driven up unemployment in recent months.

For the pound, this is a reminder that November 26 is a high-risk event and further weakness is possible.

"The likely alternative is some combination of lowering the tax thresholds (breaching the spirit of the manifesto, if not the letter) and an even bigger dog's breakfast of smaller tax changes mainly targeting the 'wealthy' (many of which had been rejected as too harmful)," says Jessop.

"It is now going to be much harder to make the sums add up," he adds.

Source: Poundsterlinglive

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

Add to Favorites

Michelle

Forex

Economic

Over-indebtedness among German adults is climbing again after years of decline, as economic weakness and rising costs squeeze household finances, data from credit agency Creditreform showed on Friday.

About 5.67 million people aged over 18 are over-indebted - defined as total expenditure exceeding income - in 2025, up 111,000 or 2% from last year, pushing the rate to 8.16% from 8.09%.

"The trend reversal is here – and it was predictable," said Patrik-Ludwig Hantzsch, head of economic research at Creditreform, citing depleted savings buffers after years of crisis-driven spending caution.

The surge spans nearly all social groups, including middle-income households seeking to maintain living standards through deferred consumption.

Young adults under 30 and seniors over 60 are particularly vulnerable – the former due to credit-fuelled spending and online purchases, the latter to rising living costs and limited pensions.

Creditreform warned the situation could worsen in 2026 as high interest rates, a softer labour market and persistent inflation weigh on consumers.

"Over-indebtedness risks becoming a major social issue again," Hantzsch said.

Source: Investing

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

Add to Favorites

Glendon

Cryptocurrency

According to a16zcrypto, the demand for privacy-focused solutions is surging, driven by growing awareness among users and businesses.

On-chain data and search trends reveal a global shift. Interest in topics like blockchain privacy and private payments reached record highs in 2025. This shows that investors and developers alike are taking privacy seriously, seeing it as essential to the next phase of crypto adoption.

Rising Adoption and Real-World Examples

Privacy technology is maturing fast. Take Zcash, for example. Its shielded pool, which allows transactions to be hidden from public view, has grown from zero in 2018 to four million ZEC in 2025. Railgun, a privacy-focused application, is expected to exceed $250 million in transaction volume this year, signaling that private transactions are entering mainstream use. Ethereum's privacy teams and private swap initiatives like Zcash & NEAR demonstrate that major networks are experimenting with and integrating privacy at a deeper level. Investors are noticing too. In 2025, firms like a16z and Pantera made targeted investments in privacy projects, signaling confidence in long-term growth.

Search trends, developer activity, and market signals provide additional proof. GitHub data shows active development on zero-knowledge proofs and multi-party computation projects. Meanwhile, trading volumes in privacy-focused applications highlight real user adoption. Regulatory clarity is also improving. Policies such as the lifted Tornado Cash sanctions and compliance-friendly protocols from Dusk Foundation are helping privacy solutions move from experimental tools to viable, mainstream financial products.

The outlook for 2026 points to privacy becoming a core demand rather than an optional feature. Technology standards and compliance frameworks are expected to clarify, enabling applications to scale globally. Emerging tech stacks combine AI, zero-knowledge proofs, and hardware acceleration to create seamless privacy solutions. Projects like Monero continue to refine mature privacy technology, while DashPay and SeismicSys explore private, instant, and enterprise-friendly options.

Crypto Privacy Demand Surges as Mainstream Adoption Accelerates

Andreessen Horowitz's a16z crypto warns: "As crypto reaches more mainstream users, the need for privacy is more urgent than ever."

Supporting data shows Google searches for privacy terms surging since 2021, Zcash shielded supply jumping from under 1M to over 3M by 2024, and Railgun privacy app flows projected to top $250M in 2025. Key 2025 moves include Ethereum's new privacy SDK, a16z backing Zcash wallet Zashi, Near enabling Zcash swaps, and Tornado Cash remaining blacklisted.

Source: CryptoSlate

Risk Warnings and Disclaimers

Add to Favorites

Justin

Forex

Political

Economic

A wave of voluntary and early retirement programmes in Japan is on track to hit a four-year high, as companies from Panasonic Holdings Corp to Japan Display Inc try to balance an ageing workforce with the need to boost competitiveness.

In all, 11,045 employees were targeted for early retirement at publicly listed companies this year as of Nov 10 — the highest since 2021, according to data from Tokyo Shoko Research Ltd. More than 90% of those employees work for companies listed on the Tokyo Stock Exchange's Prime Market, particularly in the electric equipment, food, metal products and machinery sectors.

These programmes overwhelmingly target employees aged 50 and above, marking a shift away from Japan's traditional lifetime employment model. The redundancies are unfolding against the backdrop of demographic pressures — shrinking birthrates, an ageing population, and longer life expectancy.

While many employers are extending retirement age to at least 65, it's far from universal. Others are actively encouraging early exits as part of broader restructuring efforts.

Companies such as Mitsubishi Electric Corp, Mitsubishi Chemical Group Corp, and Meiji Holdings Co are offering retirement packages to older staff. These moves are aimed at strengthening competitiveness in a tight labour market that's increasingly favouring mid-career mobility, Tokyo Shoko said.

"It's no longer feasible to operate on a business-as-usual basis," said Shintaro Iwai, an economist at Dai-ichi Life Research Institute. "The focus is on eliminating redundant tasks to boost productivity and efficiency."

Activist investors and the Tokyo Stock Exchange are demanding stronger returns, prompting companies to cut costs and unlock value. Even profitable firms are not immune — 28 of the 41 companies implementing retirement programmes this year reported profits, and 77% of the job cuts came from those firms, the data showed.

Meiji and Olympus Corp are among those cutting jobs despite healthy earnings.

Source: Theedgemarkets

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

Add to Favorites

Michelle

Forex

Economic

Sweden's jobless rate unexpectedly hit a nine-month high in a disappointment for the Nordic nation's authorities who have recently suggested the economic outlook is brightening.

Seasonally adjusted unemployment rose to 9.3% in October from 8.7% the previous month, mainly due to an increase in the labor supply, especially among young people, Sweden's statistics agency said in a release on Friday.

The outcome was the highest since January, and exceeded all forecasts in a survey of economists by Bloomberg that had a median estimate of 8.6%.

The October reading suggests Sweden's recovery from three years of stagnation remains fragile despite the efforts of the central bank and the finance ministry to reduce economic restraint. Unemployment in the 10.7-million nation remains among the highest in Europe, only trailing Spain and neighboring Finland, according to Eurostat.

The Riksbank has cut interest rates by 225 basis points since May last year and the finance ministry plans the biggest budget deficit since 2020, aiming to support household spending in particular.

Svenska Handelsbanken AB analyst Anders Bergvall said the latest data show the labor market remains weak with high unemployment and labor shortages well below the historical average, but he added that there are "tentative" signs of a turnaround ahead.

"New vacancies have increased somewhat from low levels and hiring plans are close to normal levels, indicating a weak upturn in employment in the coming months," Bergvall said in a note to clients.

The finance ministry's most recent forecasts project a fall in the jobless rate to 8.3% next year from 8.7% in 2025 while the Riksbank expects 8.4%.