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Today's big stories

Some of the world’s biggest oil-producing nations agreed to boost supply, just not as much as many had been hoping
Our analyst looks into how you can invest in bitcoin without sacrificing your green credentials – Read Now
The first six months of the year saw a record-breaking amount of private equity dealmaking

Grand Crude

What’s Going On Here?

A bunch of the world’s biggest oil-producing nations met on Thursday as demand for the black stuff surges – but as Finimize goes to press, reports suggest they’re keeping a stopper on supply.

What Does This Mean?

2021 is turning into a vintage year for crude oil producers. As lockdowns ease and economies expand, they’ve been able to steadily increase output without undermining prices. But while pressure’s been growing on producers to turn on the taps, OPEC+ (a group of major oil-exporting nations and their allies that includes Saudi Arabia and Russia) reportedly plans to pump fewer than 500,000 extra barrels per day between now and Christmas. Investors in companies that buy a lot of oil were understandably disappointed, but investors in oil itself will be raising a glass: prices rose above $75 a barrel on Thursday for the first time since 2018.

Why Should I Care?

For you personally: Give me liberty – or give me gas.
You may get a shock when you fill up the car this Fourth of July weekend: a gallon of fuel in the US is now 20% more expensive than before the pandemic (tweet this). With investment bank Citigroup forecasting global oil demand will exceed supply by three million barrels per day this quarter – and hit a record high in August – don’t expect gas to get much cheaper anytime soon. Just as well the future of transportation is electric…

The bigger picture: Happy Interdependence Day.
High oil prices should lead to recent tensions between OPEC+ member states simmering down. When oil’s closer to $50 a barrel, nations like Russia that don’t need high prices to fund government spending remain keen to increase production – leading to run-ins with the Saudis. But if prices stick above $75, even the most heavily oil-dependent economy can balance its budgets. It may soon be in everyone’s interests to up pumping a little bit more.

You might also like: Discover how oil’s surge will hit airline stocks.

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2. Analyst Take

How To Turn Bitcoin Green

What’s Going On Here?

There’s been a lot of talk about bitcoin’s environmental impact recently, especially since Tesla’s high-profile flip-flopping.

Mining the cryptocurrency, after all, consumes a lot of energy. More than the whole of Finland, by some estimates.

But if you’re torn between your love of the cryptocurrency and your planet-friendly reputation, the good news is that there are ways to make bitcoin mining more eco-friendly.

That’s today’s Insight: how you can square bitcoin with your green credentials, and how the cryptocurrency’s becoming more planet-friendly.

Read or listen to the Insight here

The place where dollars and bitcoin meet

You’re probably sitting on some sort of cash, whether it’s the physical or digital kind.

If you want to put both to work in one simple place, look no further than Nexo.

With Nexo, you’ll earn interest on all kinds of assets: dollars, euros, bitcoin, ether, the lot. And Nexo doesn’t skimp on the interest, either: we’re talking up to 12% a year.

You can add or withdraw funds at any time, and there’s no upper limit on deposits – so you can earn as much as you’d like. Plus, your proceeds will be paid out every single day.

Over one million people are already using the platform. You might consider joining them: take a look at Nexo today.

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