Tapbit News - Tapbit News

Oil Gives Back Part of Its War Spike as G7 Eyes Emergency Reserve Action

2026-03-09 by yunying

Oil’s straight-up panic move finally hit some resistance on Monday. After surging as high as $119.50 a barrel earlier in the session, Brent crude pulled back as reports emerged that G7 finance ministers would discuss a possible coordinated release of emergency oil reserves. Reuters reported that the talks would involve the International Energy Agency, with … Read more

According to Deep Tide TechFlow, on March 16, U.S. President Donald Trump posted on social media, alleging that Iran is using artificial intelligence to spread disinformation. He stated that previously, The Wall Street Journal and other media outlets reported that five U.S. aerial refueling aircraft were shot down and severely damaged, but these aircraft are still in service. He also denied reports of the USS Abraham Lincoln aircraft carrier catching fire, claiming that Iran collaborated closely with 'fake news' media to fabricate footage of the carrier burning uncontrollably at sea. Trump asserted that media organizations spreading such information should be prosecuted for treason for disseminating false information, and mentioned that FCC Chairman Brendan Carr is reviewing the licenses of some of these organizations.

PANews reported on March 16th that, according to a Financial Times article, this week will be a "super central bank week." While the interest rate decisions of these central banks are not expected to bring any surprises, the policy guidance accompanying these decisions will be closely watched given the ongoing conflict in the Middle East. The four major central banks—the Federal Reserve, the European Central Bank, the Bank of England, and the Bank of Japan—will announce their decisions one after another on Thursday Beijing time. In addition, interest rate setters from Australia, Brazil, China, Canada, Indonesia, Sweden, and Switzerland will also meet this week. Except for the Reserve Bank of Australia, which may be an exception, the other central banks are likely to keep their interest rates unchanged. However, the war in Iran has increased the possibility of a rate hike later this year. The interest rate market has responded hawkishly to the impending energy price shock; expectations for rate cuts by the Federal Reserve and the Bank of England have been erased, replaced by the possibility of a rate hike by the latter. Expectations for a rate hike by the European Central Bank this year have also increased further. Since the start of the war, the Bank of Japan's interest rate path has remained relatively unchanged.

PANews reported on March 16, citing the Financial Times, that Trump warned NATO would face a "very bad" future if US allies did not help reopen the Strait of Hormuz. "Those who benefit from the Strait should help make sure nothing bad happens there," Trump said, adding that Europe is highly dependent on oil from the Gulf region, while the US is not. He added, "If there is no response, or if the response is negative, I think it will be very bad for the future of NATO." When asked what kind of help he needed, Trump replied, "Any necessary help." He added that allies should send minesweepers, and Europe has far more minesweepers than the US. Trump hinted that he wanted Europe to send commandos or other military forces to eliminate Iranian personnel who use drones and mines to create "trouble" in the Gulf. Trump also warned that the US was prepared to launch a new strike on Kharg Island, Iran's oil export hub, and could target its oil infrastructure.

BlockBeats news, March 16, according to HTX market data, the cryptocurrency market kicked off a morning rally, with Bitcoin surpassing $73,000, Ethereum breaking above $2,200, and SOL exceeding $90. The total market capitalization of cryptocurrencies has exceeded $2.555 trillion, with a 24-hour increase of 1.8%. Top-performing altcoins by gains and losses include:REZ up 31.2% in 24 hours, currently quoted at $0.0042;SHELL up 17.7% in 24 hours, currently quoted at $0.036;TAO up 14.22% in 24 hours, currently quoted at $284;NEO up 12.48% in 24 hours, currently quoted at $2.87;EIGEN up 10.4% in 24 hours, currently quoted at $0.22;THE down 23.2% in 24 hours, currently quoted at $0.214;COS down 19.8% in 24 hours, currently quoted at $0.0018;MBOX down 11.2% in 24 hours, currently quoted at $0.0176;DEGO down 10.38% in 24 hours, currently quoted at $0.86.

BlockBeats News, March 16, Venus Protocol released a follow-up on the abnormal activity in THE liquidity pool. In addition to previously suspending THE borrowing and withdrawals, the collateral factor (CF) for 7 markets has now been reduced to 0 as a preventive measure targeting markets where a single user holds an excessively high proportion of collateral. The 7 markets are BCH, LTC, UNI, AAVE, FIL, TWT, and lisUSD, while all other markets remain unaffected and continue normal operations.The initial assessment of the attack method indicates that starting from June 2025, the attacker slowly accumulated THE tokens through normal deposit processes, eventually holding 84% of the supply cap (approximately 12.2 million THE). Yesterday, the hacker directly transferred THE tokens into the protocol contract, instantly boosting the supply to create massive collateral. By performing recursive loop price manipulation, leveraging the extremely low on-chain THE liquidity combined with TWAP oracle delays, the hacker initiated a cycle: depositing THE, borrowing other assets, using the borrowed assets to buy more THE on-chain, waiting for the TWAP oracle to update and pushing up the price.Venus stated that it remains committed to transparency and will release a full report after the investigation concludes.