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13:57
Germany and Japan take the lead in confirming the release of oil reserves, with oil prices unlikely to reach a new high before the end of March.
BlockBeats News, March 11th, as the Middle East conflict escalated, leading to the factual closure of the Strait of Hormuz, global energy security faced a severe challenge. The International Energy Agency (IEA) plans to launch the largest-ever strategic oil reserve release plan. Insiders revealed that the IEA proposed to release about 300 million to 400 million barrels of oil, significantly exceeding the 182 million barrels of oil released in two separate market interventions during the 2022 Russia-Ukraine conflict. Currently, Germany and Japan have taken the lead in responding. Japan is set to release around 80 million barrels of crude oil from private and national reserves. Japan emphasized that if the Strait of Hormuz is closed, Japan will suffer the most severe impact and therefore needs to respond promptly. The German Minister of Economic Affairs stated that Germany will release 2.4 million tons of national oil reserves. Other IEA member countries such as the UK, Austria, and South Korea have also expressed their willingness to coordinate action. According to Bitget market data, currently, both WTI crude oil and Brent oil prices have fallen during the day, with WTI crude oil falling below $88.3 per barrel and Brent oil falling below $85.5 per barrel.
13:43
Strive acquires $50 million worth of Stretch ($STRC)
Jinse Finance reported that, according to market sources, Strive ($ASST), owned by Vivek Ramaswamy, has purchased $50 million worth of perpetual preferred shares Stretch ($STRC) from Strategy company, which is expected to generate an annual income of $5.75 million.
13:40
Jinbao Company Q2 results miss expectations, lowers full-year profit guidance
格隆汇 March 11|US food retailer Campbell announced its second quarter results, with revenue of $2.6 billions, slightly below analysts' expectations of $2.61 billions; adjusted EBIT fell 24% year-on-year to $282 millions, and adjusted earnings per share were $0.51, also below analysts' expectations of $0.57. Looking ahead, the company lowered its full-year guidance to reflect a more cautious outlook for the remainder of the year due to weak performance in the first half and the current operating environment. The company now expects full-year adjusted earnings per share to be between $2.15 and $2.25, lower than the previous forecast of $2.4 to $2.55 and also below the consensus estimate of $2.41.
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