Justin Sun: SEC has dismissed all charges against TRON, looking forward to cooperating with SEC to develop cryptocurrency guidelines

The International Energy Agency (IEA) member governments announced at a meeting on Wednesday their support for accelerating the implementation of the oil reserve release plan announced during March's collective action, aiming to complete the full release as soon as possible. Given the current tight supply in the diesel market, member countries also supported the prioritization of diesel reserves where conditions permit. So far, IEA member countries have released around 325 millions barrels of oil based on the March collective action, with some releasing amounts exceeding their previous commitments. The IEA clarified that if all the oil reserves pledged in March but not yet released are fully delivered, approximately 100 millions barrels would enter the market. This means that the recently discussed release of about 100 millions barrels mainly refers to the acceleration of the previously promised releases in March, rather than an additional emergency plan for 100 millions barrels. Currently, IEA member countries still hold large government-controlled emergency oil reserves, totaling around 1.1 billions barrels, including more than 200 millions barrels of diesel. IEA stated that if market conditions require, they are prepared to release further reserves to the market.

The U.S. Energy Information Administration (EIA) reported that U.S. crude oil production reached a new high last week, marking the second consecutive week of record-breaking output.

Morgan Stanley strategists have once again recommended shorting the euro against the Swiss franc, betting that rising risk aversion and higher risk premiums on eurozone assets will weigh on the euro. In a research note published Wednesday, David Adams, Koichi Sugisaki, Andrew Watrous, and Alexander Scholefield wrote that shorting EUR/CHF can serve as a hedge against “further increases in fiscal and political risk premiums” and the risk that the ECB turns more dovish in response to bond market volatility. The strategists stated: “Although the market is highly focused on widening interest rate differentials, the increase in euro risk premiums has not been significant.” The report also mentioned that the Swiss National Bank’s concern about CHF appreciation is a risk factor for the EUR/CHF short trade and could push the currency pair higher. The strategists suggested shorting EUR/CHF with a target of 0.90 and a stop loss at 0.96. The firm continues to recommend shorting EUR/CHF, expecting the euro to generally weaken against most currencies. The strategists believe EUR/CHF is likely to continue its downward trend, though technical and positioning factors indicate that some short-term consolidation may occur.