US Allows Sale of Stranded Iran Oil to Cap Fuel-Price Rises

Posted on March 21, 2026 by Olumide Adesina

The US has permitted the sale of Iranian oil and petrochemical products that have been loaded onto tankers in its most recent attempt to combat rising oil prices brought on by the Middle East conflict.

The Department of the Treasury issued a general license for energy that is already on board vessels; these purchases are permitted through April 19. The measure comes after similar actions for Russian oil on the water in an effort to alleviate an unprecedented fuel supply shortage brought on by the conflict.

Chinese consumers currently purchase the great majority of Iran’s oil, primarily from independent refiners known as “teapots.”

Although the US waiver would increase the number of buyers, any new clients would deal with the difficulties of structuring transactions. Iran is subject to other restrictions, such as its access to international financial markets.

Only a few Iranian and Chinese tankers are passing through the Strait of Hormuz, where 20% of the world’s oil normally passes, as a result of the US and Israeli war on Iran.

This month, the price of Brent crude has increased by over 50%, and the value of Middle Eastern oil, such as the flagship Murban grade from Abu Dhabi, has doubled.

In the run-up to the November midterm elections, the US president and the Republican Party are under tremendous pressure due to the consequent increase in fuel prices for American consumers.

Long-term inflationary pressures would make it more difficult for the GOP to hold onto both the Senate and the House, and losing either chamber would make it more difficult for Trump to implement his agenda.

In a post on X, US Treasury Secretary Scott Bessent described the Iranian oil waiver as a “narrowly tailored, short-term authorization permitting the sale of Iranian oil currently stranded at sea,” noting that it will release roughly 140 million barrels.

British Airways Suspends Dubai Flights Until End of May Due to Regional Instability

Posted on March 21, 2026 by Olumide Adesina

British Airways anticipates months of disruption in the Gulf, as evidenced by the cancellation of all flights into Dubai until at least June. The airline announced on Monday that it would not operate flights to Doha, Qatar, until the end of April and to Dubai, Amman, Bahrain, or Tel Aviv until after May 31. There won’t be any flights to Abu Dhabi until later this year. As the conflict enters its third week, this is the longest major airline cancellation announced thus far.

Lufthansa and Air France, two European competitors, have announced cancellations this month. Travel agencies have also begun to cancel vacation packages that pass through the United Arab Emirates, citing the insurance risk of passengers becoming stranded through its airports.

BA’s decision was made just hours after a drone attack that started a fire at a nearby fuel tank early on Monday, forcing Dubai’s main airport to close for seven hours. Flights operated by Emirates had to be rerouted.

Virgin Atlantic cancelled its revived service, and none of the major European airlines have resumed flights to Dubai. BA announced that it had extended the period “due to the continuing uncertainty of the situation in the Middle East and airspace instability.”

Previously, BA had canceled its services until later this month. It will keep flying to Saudi Arabia’s Jeddah and Riyadh, less impacted by the airspace restrictions

. Flights at Dubai’s main airport, which was the busiest international airport before the war, were suspended starting at around six in the morning local time.

Later in the day, Dubai International gradually started operating flights to a few destinations. Authorities said the fire had been contained earlier in the day, but no injuries were reported.

Although the frequency of Iranian drone attacks has decreased recently, they have nevertheless targeted strategically significant locations like Dubai’s ports, airports, and buildings.

China’s Insatiable Silver Appetite Drains Global Supplies Dry

Posted on March 21, 2026 by Olumide Adesina

China’s insatiable appetite for silver drove overseas purchases to an eight-year high at the beginning of 2026 as importers fueled a spike in industrial and investment demand

According to Chinese customs data released on Friday, the largest buyer in the world received over 790 tons in the first two months, including nearly 470 tons in February—the highest amount ever for that month. Due to strong demand, local prices have risen significantly above global benchmarks, reducing already low exchange reserves and prompting the acquisition of metal from overseas.

A wave of speculative buying from China and other countries drove silver prices up by roughly 70% at the beginning of the year, but by the end of January, they abruptly gave up their gains. This is the most volatile start to a year for silver prices.

The robust import numbers indicate that, despite changes in trade flows, physical consumption in China has continued. Demand has come from solar manufacturers front-loading production and retail investors hoarding silver bars as a substitute for the increasingly expensive gold.

A significant amount of the metal has traveled through Hong Kong, which acts as a gateway for precious metals traveling to the mainland, in an effort to seize an enticing arbitrage opportunity.

Stanley Cheung, AC Precious Metals Refinery Ltd.’s managing director, claimed that while large silver bars traded by banks normally trade at a discount to the benchmark in London, during the first two months, prices in the area have drawn a premium of up to $8 per ounce.

China’s massive imports haven’t yet disrupted the London market because of a record inflow of silver into the global trading hub following a historic squeeze last year.

The quantity of silver held in exchange-traded funds globally has dropped by more than 1,900 tons this year, making more metal available.

However, markets are breathing more easily for the time being. Yuan Zheng, an analyst at Henan Jinli Gold and Lead Group Co.’s Shanghai-based trading division, stated that as the rebate deadline approaches, the Chinese premium on silver has decreased and solar demand has slowed. “In the near future, there will be more supply than demand.

Major XRP Boost: Evernorth to List on Nasdaq as World’s Largest XRP Treasury

Posted on March 20, 2026 by Olumide Adesina

Nevada-based Evernorth has formally filed a Form S-4 registration statement with the US Securities and Exchange Commission in connection with its intended merger with Armada Acquisition Corp The most recent action moves the XRP-focused treasury company closer to going public on the Nasdaq.

The filing presents Evernorth as a regulated corporate vehicle designed to expose XRP on the public market through an actively managed treasury strategy.

The disclosure offers the first glimpse of the company’s operational strategy, including how it plans to distribute, oversee, and disclose its XRP holdings as a publicly traded company.

A number of institutional backers, including Ripple Labs, SBI Holdings, Pantera Capital, Kraken, and Arrington Capital, the sponsor of Armada II, have contributed more than $1 billion in gross proceeds, according to the company.

The prospectus and preliminary proxy statement included in the registration statement are still being reviewed by the SEC and have not yet been deemed effective. The Armada II shareholders’ approval and other customary closing conditions are necessary for the transaction to be completed.

The combined company is anticipated to trade under the ticker “XPRN” on the Nasdaq Stock Market, subject to exchange approval.

Arrington Capital founder Michael Arrington commented on the development, saying, “Evernorth continues to emerge as a key gateway for capital markets, underscoring XRP’s rising influence in bridging traditional finance and real-time innovation.”

Evernorth’s ongoing development is indicative of the XRP ecosystem’s broader success and momentum as it expands its use in international finance. Only a few days before Evernorth’s announcement, the SEC released new guidelines that included XRP in a list of assets classified as digital commodities. The agency claims that securities laws only apply to tokenized securities.

ETH Nears Cycle Low: Crucial MVRV Reset Triggers Ethereum’s Buy Signal

Posted on March 20, 2026 by Olumide Adesina

Ethereum saw new losses amid the wider decline in the crypto space. The altcoin dropped to $2,150 after losing nearly 4%. According to recent data, ETH appears to have entered a historically significant accumulation zone, and historical data indicate significant upside after comparable MVRV compression levels. According to the most recent on-chain data, Ethereum has entered a buy zone.”

The market value to average investor cost basis ratio, or MVRV Ratio, has dropped into the 0.8 to 1.0 range. Similar circumstances have caused significant upward cycles for the asset in the past.

Gains of 150 percent, 5,390 percent, 130 percent, 280 percent, and 250 percent followed earlier instances of this range. With accumulation trends starting to appear throughout the network, the current positioning suggests that Ethereum may be getting close to a long-term bottom.

Ethereum appears to be nearing a long-term low based on on-chain data. The accumulation window is officially open for investors with a 12- to 24-month time horizon. Crypto trader “EliZ” also noted that recent market conditions presented a clear short-term opportunity, allowing traders to profit from altcoins by entering positions at lower levels.

The investor claims that the market is about to enter a crucial stage that is characterized by significant technical levels. The medium-term uptrend is still in place and is probably going to continue as long as the price stays between $2,050 and $2,180 daily.

A breakdown below the $2,000 threshold, however, would render this arrangement void. The market would shift in such a situation, making it easier to take aggressive short positions.

A significant decline and shift from a bullish continuation phase to a bearish trading environment is possible with this breakdown. Observe the US ETH exchange-traded on the institutional front.

British Airways Halts Dubai Flights Until Summer Over Airspace Instability

Posted on March 20, 2026 by Olumide Adesina

Previously, BA had canceled its services until later this month. It will keep flying to Saudi Arabia’s Jeddah and Riyadh, less impacted by the airspace restrictions

. Flights at Dubai’s main airport, which was the busiest international airport before the war, were suspended starting at around six in the morning local time.

Later in the day, Dubai International gradually started operating flights to a few destinations. Authorities said the fire had been contained earlier in the day, but no injuries were reported.

Although the frequency of Iranian drone attacks has decreased recently, they have nevertheless targeted strategically significant locations like Dubai’s ports, airports, and buildings.

Russian Oil Tankers U-Turn from China to India

Posted on March 20, 2026 by Olumide Adesina

A Russian oil-laden tanker headed for China made a U-turn in the South China Sea and is now racing to India after New Delhi started stepping up imports from Moscow. According to ship-tracking data, the Aqua Titan is scheduled to arrive in New Mangalore on March 21 with its Urals cargo, which it loaded from a Baltic Sea port in January

Days after the US approved India’s temporary increase in Russian purchases, the Aframax ship changed its course in Southeast Asian waters in mid-March after initially indicating the Chinese port of Rizhao as its destination.

Indian refiners purchased an astounding 30 million barrels of Russian oil in the week that followed the concession, a move intended to help the country deal with supplies lost in the Middle East

More nations have since been permitted to purchase from Russia. This opens the door for additional diversions from China, which has been Moscow’s last-resort importer in recent months due to India’s decreased purchases.

Prices are likely to rise amid the return of buyers, including those from South Korea and Japan. According to Vortexa Ltd., at least seven tankers transporting Russian oil have changed their destinations from China to India since all of India’s major refiners are currently involved in the country’s crude market.

Additionally, the Suezmax Zouzou N. is indicating Sikka, India, as its next destination, with a projected arrival date of March 25, according to ship-tracking data. Kpler claims that the tanker is transporting Kazakh CPC Blend crude. After sailing to Rizhao from Novorossiysk on Russia’s Black Sea, it turned around in early March to head for India.

China Drains Silver Supplies to Feed Booming Domestic Appetite

Posted on March 20, 2026 by Olumide Adesina

China’s insatiable appetite for silver drove overseas purchases to an eight-year high at the beginning of 2026 as importers fueled a spike in industrial and investment demand

A significant amount of the metal has traveled through Hong Kong, which acts as a gateway for precious metals traveling to the mainland, in an effort to seize an enticing arbitrage opportunity.

China’s massive imports haven’t yet disrupted the London market because of a record inflow of silver into the global trading hub following a historic squeeze last year.

The quantity of silver held in exchange-traded funds globally has dropped by more than 1,900 tons this year, making more metal available.

Kalshi Raises $1 Billion, Doubles Valuation to $22 Billion

Posted on March 20, 2026 by Olumide Adesina

Kalshi raised more than $1 billion in a new financing round at a valuation of $22 billion. Kalshi’s valuation from its most recent funding round in December, when it was valued at $11 billion, will nearly double by the deal.

The fundraising campaign demonstrates that investors are still keen to learn more about the rapidly expanding prediction market sector despite recent criticism from lawmakers who have voiced concerns about the platforms’ susceptibility to insider trading and manipulation.

The source, who wished to remain anonymous due to the confidentiality of the information, stated that Coatue Management spearheaded the new funding round. With support from Sequoia Capital, Andreessen Horowitz, and ARK Invest, Paradigm led the prior financing.

Financial contracts linked to a variety of real-world events are available from Kalshi. It was established in 2018, but after a court permitted it to offer trading on the results of the 2024 election, its popularity skyrocketed.

The company can operate nationwide under federal regulations because it is governed as a financial exchange and overseen by the Commodity Futures Trading Commission, in contrast to traditional gambling companies, which are subject to state regulations.

Sports betting has taken over the exchange’s operations since Kalshi began accepting wagers on athletic events early last year. Numerous gambling companies have hurried to create their own products for the prediction market.

Dune Analytics user-compiled data shows that trading volume on Kalshi surpassed $10 billion in February, which is twelve times more than it was just six months earlier. Polymarket, Kalshi’s biggest rival, has grown at a similar pace despite primarily doing business overseas.

Emirates’ Reality Check: 5-10% Full Inbound Jets as Exodus Hits Dubai

Posted on March 19, 2026 by Olumide Adesina

Emirates is running flights to Dubai that are sometimes almost empty as passengers avoid the Persian Gulf, underscoring the difficulties facing the biggest international airline in rebuilding its network during a protracted conflict.

Flights from destinations in the US and continental Europe have been most severely affected, with planes returning from Prague or Budapest only roughly 5% to 10% occupied.

At least one flight last week departed with fewer than 35 passengers on an Airbus SE jumbo A380 jet that typically seats close to 500, and several aircraft returning from New York flew with only a fifth of the tickets sold.

The documents state that half-empty cabins were used on departures from Chicago. Flights departing Dubai exhibit a very different pattern because fewer aircraft are available. After that, Emirates returns the aircraft to its hub with minimal occupancy.

Emirates said that as long as it can do so safely, it will keep restoring its network at a steady pace. In response to inquiries, an official stated that current inbound occupancy is unsurprisingly low given the circumstances. The business stated that it doesn’t comment on the occupancy of particular routes.

According to Flightradar24 data, the airline operated roughly 500 flights out of Dubai International on a typical day before the war, with roughly half of those flights being departures.

That number had dropped to 71 takeoffs by March 16. Even though there isn’t much demand for passengers, the business loads cargo onto its planes, which generates additional income and an influx of perishable goods.

Operating Boeing Co. is a priority for Emirates. 777 aircraft due to their superior cargo capacity compared to the Airbus A380. The flights are one of the few ways to import supplies because the Strait of Hormuz is practically closed. The operations of the state-owned carrier have been severely disrupted.