Macro· ★★★· bearish·

China and Russia Tighten Fuel Exports, Raising Inflation Risk and Pressure on Bitcoin

  • —China banned fuel exports beyond Hong Kong and Macau, with PetroChina cancelling October cargoes
  • —China's diesel stocks are about 20 million barrels below pre-war levels
  • —Russia extended its diesel export ban by 30 days citing harvest-season demand
  • —Fed rate hike odds for October 28 fell from 68.6% to 26% in a week
Why it matters: Higher fuel prices could push the Fed to hike rates, strengthening the dollar and pressuring Bitcoin and risk assets.
#BTC
Source: BeInCrypto
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