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Oil markets mixed as Exxon and Chevron beat profit estimates, Saudi drilling hits 20-year low
Oil markets mixed as Exxon and Chevron beat profit estimates, Saudi drilling hits 20-year low

Share link:In this post: Exxon and Chevron beat Q2 profit forecasts despite falling crude prices. Chevron finalized its $55B Hess deal and will resume limited Venezuelan oil exports. Saudi Arabia’s oil rig count fell to 20 in July, the lowest since 2005.

Cryptopolitan·2025/08/02 07:55
JD Vance, Labor Secretary reject Trump’s claim that jobs data is rigged
JD Vance, Labor Secretary reject Trump’s claim that jobs data is rigged

Share link:In this post: JD Vance and Lori Chavez-DeRemer pushed back on Trump’s claim that the jobs data was manipulated. Both officials defended the administration’s job creation before Trump fired the BLS commissioner. Chavez-DeRemer called the revisions unexpected but emphasized Trump’s hiring record.

Cryptopolitan·2025/08/02 07:55
Households hit with $14.5 billion after Bank of England’s rate cuts
Households hit with $14.5 billion after Bank of England’s rate cuts

Share link:In this post: UK households are still worse off despite the BoE cutting rates four times since July 2024 Savers lost nearly £5 billion while mortgage and credit costs rose by £6 billion. BOE likely to cut rates to 4 percent but high inflation keeps easing slow.

Cryptopolitan·2025/08/02 07:55
Two Reasons Why XRP Could See a Sharp Drop Soon
Two Reasons Why XRP Could See a Sharp Drop Soon

XRP faces potential short-term declines, with decreasing leverage and significant sell-side pressure. Unless buying momentum strengthens, it may drop below key support levels.

BeInCrypto·2025/08/02 07:41
Flash
18:26
Iran's Central Bank Governor: MOU Requires US to Unfreeze Iranian Assets
On June 17, Abdolnaser Hemmati, the Governor of the Central Bank of Iran, stated on June 16 local time that in the process of drafting the relevant terms regarding the unfreezing of assets under the Iran-US memorandum of understanding (MOU), all past experiences and historical cases were fully considered. Efforts were made to ensure that the mechanisms set forth in the agreement provide the highest level of assurance for the smooth access and use of these funds. Hemmati noted that the terms of the MOU clearly specify the obligations of the United States regarding the unfreezing of assets, and these obligations are clear and enforceable, requiring the US to fulfill its commitments. He also emphasized that after the signing and implementation of the MOU, necessary technical and banking verifications will be conducted to confirm whether the assets are genuinely unfrozen and can be used. Hemmati stated that these unfrozen funds belong to the Central Bank of Iran, and the management, allocation, and usage of these funds will be determined within the legal framework of the central bank's authority. The central bank will arrange the use of funds based on national needs, economic conditions, and foreign exchange priorities.
18:23
The head of state of Ghana announced that Ghana and Côte d'Ivoire will officially launch the 2026-2027 cocoa harvest season on September 1, which will continue until August 31 of the following year.
As the two most important cocoa producing countries in the world, Ghana and Côte d'Ivoire together account for more than 60% of the global cocoa supply. The synchronization of their cocoa season schedules facilitates coordinated production and sales arrangements across the industry, making significant contributions to the stable operation of the global cocoa sector.
18:11
The Governor of the Central Bank of Iran: The memorandum of understanding stipulates that the United States is obliged to unfreeze Iranian assets.
The Governor of the Central Bank of Iran, Abdolnaser Hemmati, stated on the 16th local time that regarding the issue of unfreezing assets under the framework of the Iran-US Memorandum of Understanding, all past experiences and historical cases have been fully considered during the formulation of relevant terms. Efforts have been made to ensure that the mechanisms set out in the agreement provide the highest level of security, so that these funds can be smoothly obtained and used. Hemmati said the memorandum's provisions clearly specify the United States' obligations to unfreeze the assets, and these obligations are clear and enforceable. The US side will be required to fulfill its commitments. Hemmati also stressed that once the memorandum is signed and begins to be implemented, necessary technical and banking verifications will be conducted to confirm whether the assets are genuinely unfrozen and available for actual use. Hemmati stated that these unfrozen funds belong to the assets of the Central Bank of Iran, and decisions regarding the management, allocation, and use of these funds will be made within the framework of the central bank’s statutory authority. The central bank will arrange the use of these funds according to the country’s needs, economic situation, and foreign exchange priorities. (CCTV News)
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