RBOB Gasoline futures tumbled to their lowest level in almost a week overnnight as several US Gulf Coast refineries reported their plans to restart operations after the devastation of Hurricane Harvey forced them to shutdown.
While about one-fifth of U.S. refining capacity is halted, according to data compiled by Bloomberg, some plants including those operated by Citgo Petroleum Corp. and Marathon Petroleum Corp. are preparing to restart.
Authored by Charles Hugh Smith via OfTwoMinds blog,
The point is institutional ownership of bitcoin is in the very early stages.
If I had a bitcoin for every time some pundit declared bitcoin is a bubble, I'd be a billionaire.
There are three problems with opining that bitcoin and cryptocurrencies are bubblicious:
Authored by David Stockman via Daily Reckoning blog,
Someone should remind the Donald that he actually is President and that it’s high time he accomplished something. Anything.
Back on April 21st, for example, he promised that a core feature of his platform — a sweeping, pro-jobs tax reduction — would be soon unveiled.
While stocks have been limping higher since around 2am ET (following headlines on an imminent ICBM launch) they remain lower from Friday's close:
But precious metals the biggest gainers of post-North Korean "hydrogen bomb" testing safe haven flows.
Silver broke above resistance at early June highs to test $18 and the highest levels since April 25th.
But that was clearly not acceptable to someone:
A month ago, we wrote about the bitcoin fork. We described the fork:
Picture a bank, the old-fashioned kind. Call it Acme (sorry, we watched too much Coyote and Road Runner growing up). A group of disgruntled employees leave. They take a copy of the book of accounts. They set up a new bank across the street, Wile E Bank. To win customers, they say if you had an account at Acme Bank, you now have an account at Wile, with the same balance!