News

Spot gold rose by $20.26 per ounce within 5 minutes, now quoted at $4,702.64 per ounce. S&P 500 index futures continued to gain, hitting an intraday high. Reports say the White House has extended shipping waivers to ease the oil supply crunch.

BlockBeats News, April 24th, according to market sources, the White House is set to extend a waiver on the century-old maritime law, the Jones Act, to reduce the transportation costs of oil, natural gas, and other bulk commodities within the United States, easing the strain on the oil supply. Previously, Trump had announced a temporary waiver of the Jones Act on March 18th to address the energy price surge caused by the Iran conflict, allowing foreign-flagged vessels to transport a range of bulk commodities between U.S. ports in the next 60 days. The Jones Act requires that goods transported between U.S. ports must be carried by vessels flying the U.S. flag, built-in-the-U.S., and U.S.-owned. This waiver exempts certain goods from this requirement, allowing foreign vessels to temporarily transport various products. The waiver covers coal, crude oil, refined oil products, natural gas, liquefied natural gas, fertilizers, products primarily derived from refined oil, and other energy derivatives. According to Bitget market data, possibly due to this development, both WTI and Brent crude oil prices dropped over 2% intraday, currently standing at $97.24 per barrel and $99.10 per barrel, respectively.

On April 24, Nasdaq 100 futures increased, with the rise expanding to 1.21%.