Ukrainian forces hit and damaged the Moscow Oil Refinery and a Druzhba oil pipeline facility in Oryol Oblast in a fierce overnight drone attack on Monday, the General Staff of Ukraine’s Armed Forces has reported. According to Ukrainian officials, the giant refinery–capable of processing 11 million metric tons of oil per year and covers nearly half of Moscow’s gasoline and diesel supplies–was hit multiple times, although Gazprom Neft, which owns the refinery, didn’t respond to a Bloomberg request for a comment. According to the General Staff, the operation “struck a number of Russian strategic objects, enabling armed aggression against Ukraine.” Lately, Ukraine has launched targeted attacks on industrial and military facilities in Russia’s rear in a bid to undermine Moscow’s ability to wage its war. The attacks came as a delegation of U.S. officials arrived at Saudi Arabia for peace talks with Ukraine. Ukrainian officials have revealed that Kyiv is planning to propose a ceasefire in the sea and sky during the truce meeting, with Trump telling reporters he believes the talks will result in “a lot of progress”. Last month, Ukrainian President Volodymyr Zelenskyy declined a proposal by Trump to acquire approximately 50% of Ukraine’s rare earth mineral rights. Valued at several trillion dollars, Ukraine’s mineral reserves include lithium, titanium and graphite that are essential for high-tech industries. The proposal was delivered by U.S. Treasury Secretary Scott Bessent as part of a bid to compensate Washington for assistance to Kyiv. Trump had suggested that Ukraine owed the United States $500 billion worth of resources for its past military support. However, Zelenskyy is seeking better terms, including U.S. and European security guarantees. Trump’s initial proposal did not include provisions for future assistance, which Zelenskyy deems necessary. Zelenskyy’s team has developed an offer for a mineral partnership in exchange for security guarantees, which was announced earlier this month.
Trump takes aim at Canada with doubled tariffs on metals
WASHINGTON, March 11 (Reuters) – President Donald Trumpon Tuesday doubled his planned tariffs on all imports of steel and aluminum products from Canada to 50%, in response to the province of Ontario’s decision to place, opens new tab a 25% tariff on its electricity exports to the U.S. Trump said in a post on his Truth Social media platform that he has instructed his commerce secretary to add an additional 25% tariff on the metals products that will go into effect on Wednesday morning.
“Also, Canada must immediately drop their Anti-American Farmer Tariff of 250% to 390% on various U.S. dairy products, which has long been considered outrageous. I will shortly be declaring a National Emergency on Electricity within the threatened area,” Trump wrote.
He also threatened to “substantially increase” tariffs on cars coming into the U.S. on April 2 “if other egregious, long time Tariffs are not likewise dropped by Canada.”
In a post on X sent after Trump’s latest threat, Ontario Premier Doug Ford – whose government is hiking the price on the electricity it generates for portions of New York state, Michigan and Minnesota – said he would not back down until all of Trump’s tariffs on Canadian imports to the U.S. were “gone for good.” The latest broadside by Trump on tariffs delivered another painful jolt to financial markets, with the benchmark S&P 500 index sliding almost 1.0% as investors worry the import taxes will hurt U.S. growth and rekindle inflation. The Toronto Stock Exchange’s S&P/TSX Composite index was down about 0.5% and the Canadian dollar fell against the greenback.
Broader 25% levies on all steel and aluminum imported to the U.S. from anywhere are due to take effect early on Wednesday. Those tariffs will apply to millions of tons of steel and aluminum imports from Canada, Brazil, Mexico, South Korea and other countries that had been entering the U.S. duty free under carve-outs. Trump has vowed that the tariffs will be applied “without exceptions or exemptions” in a move he hopes will aid the struggling U.S. industries. Trump’s hyper-focus on tariffs since taking office in January has rattled investor, consumer and business confidence in ways that economists increasingly worry could cause a recession. A small business survey on Tuesday showed sentiment weakening for a third straight month, fully eroding a confidence boost following Trump’s November 5 election victory. Reuters polls of economists last week showed risks to the Mexican, Canadian and U.S. economies are piling up amid a chaotic implementation of U.S. tariffs that has created deep uncertainties for businesses and decision-makers. The surveys showed 70 of 74 economists polled across Canada, the U.S. and Mexico judged that the risk of a recession had increased, and upside risks to inflation in the U.S. rose in particular.
nn: to complicated to cover here. ill do a blackmask market uppdate
Cryptos extend losses, Bitcoin falls below $77,500
The world’s largest cryptocurrencies, Bitcoin and Ethereum, continued losing ground on Monday, with the first one falling below the $77,500 mark, reaching its lowest level since November 11, 2024. Meanwhile, ETH declined to the lowest point since November 3, 2023. The loss of interest in cryptos seems to be related to a mix of factors, including escalating tariff-war tensions that sparked fears of a recession. Further, US President Donald Trump was asked by Fox News host Maria Bartiromo on Sunday if he was expecting a recession this year. The president didn’t deny that was a potential outcome. Bitcoin (BTC) decreased 3.97% to $77,492 at 2:59 pm ET and Ethereum (ETH) lost 9.39% to sell for $1,826 at the same time.
nn told you so… still not to late to get into our bitcoin short fund
Oil plunges over 1.5% amid market selloff
Crude prices traded in the red on Monday, dropping over 1.5% amid an ongoing market selloff on Wall Street. The Dow Jones plunged more than 800 points during the intraday trade in New York after opening sharply lower and tech-heavy Nasdaq dropped to its lowest level since September 2024 on fears of an economic slowdown after US President Donald Trump didn’t rule out a recession with US tariffs being implemented. West Texas Intermediate for March delivery dropped 1.61%, changing hands for $65.97 per barrel at 1:53 pm CET while the international benchmark Brent for settlements in the same month lost 1.54% to trade for $66 per barrel a minute later.
Kazakhstan Set to Cut Oil Exports Via Caspian Pipeline
Kazakhstan will reduce the flow oil crude via the Caspian Pipeline Consortium by as much as 70% this month, a senior government official told local media. “To date, there have been no reductions in oil transportation through the CPC infrastructure from Kazakhstan. The lion’s share of Kazakhstan’s oil exports goes through this pipeline. However, in March, oil supplies through CPC will be reduced by 70 percent from our volume,” Deputy Energy Minister Alibek Zhamauov said, as quoted by news outlet Trend. The official also said that Kazakhstan was planning to produce 1.5 million barrels daily this month, in line with its OPEC+ quota. That would be quite a reduction from the February average, which stood at a record high of 2.12 million barrels daily, up by 13% from January. The figure includes gas condensate output. Excluding that, Kazakhstan’s crude output stood at 1.83 million barrels daily. Last month, the Caspian Pipeline Consortium became the target of a Ukrainian attack that led to ab abrupt decline in the flow of Kazakh oil for a while. The Tengiz-Novorossiysk pipeline, which stretches over 1,511 km, or 939 miles, transports over two-thirds of all Kazakh export oil, and crude from Russian oil fields. In terms of production and quotas, Kazakhstan has turned into one of the biggest laggards in OPEC+, consistently overproducing, along with Iraq and Russia. Last year, all three submitted compensation plans to make up for the excess production over the period until September 2025. It seems Kazakhstan has been slow to implement the compensation if the February production numbers are any indication. The Central Asian country has some 620,000 barrels daily in excess production. For Russia, the number is 480,000 barrels daily, and for Iraq, the top quota laggard, the output to be slashed is close to 1.2 million barrels daily.
Bitcoin back below $82,500, down 4.5%…. Its starting
The prices of the world’s largest cryptocurrencies fell on Sunday with Bitcoin dropping below $82,500 as investors panic amid economic uncertainty, regulatory fears, and massive liquidations. The decline was seemingly triggered by the announcement by the US of a Strategic Reserve and intentions to accumulate more and the US Securities and Exchange Commission (SEC) dropping its cases against cryptocurrency exchanges Coinbase and Kraken, leading to the downturn. Bitcoin slumped 4.52%, selling for $82,439 at 1:02 pm ET. Ethereum plummeted 8.12%, selling for $2,024 a minute later.
The much-anticipated White House Crypto Summit on Friday ended with a whimper rather than a bang for cryptocurrency traders, sending altcoins like XRP, Cardano’s ADA, and Solana’s SOL into steeper declines than market leader bitcoin (BTC). Investors had pinned high hopes on President Donald Trump’s pro-crypto stance, expecting bold announcements about a U.S. strategic crypto reserve that would prominently feature major altcoins.
Instead, the summit delivered a more subdued outcome: a framework for stablecoin legislation before August and assurances of a lighter regulatory touch—moves that failed to ignite the market as anticipated.
NN: Fridays bitcoins publicity stunt was a dismal failure. Their s no reserve and their will not be one. Holding 20 billion of confiscated bitcoin is not a reserve,,,,, its a sick joke
Trump: Ukraine might not survive war
US President Donald Trump said that Ukraine might not survive the war against Russia even with US support. “Well, it might not survive anyway. But we have some weaknesses with Russia, you know? It takes two. It was not going to happen that war, and it happened. So now we’re stuck with this mess,” Trump said in an interview with Fox News’ “Sunday Morning Futures” aired on Sunday when asked if he could come to terms with the fact that Ukraine may not survive without US support. Trump seemingly addressed concerns from Polish President Andrzej Duda about Europe’s inability to support Kiev without US assistance. CIA Director John Ratcliffe announced last week that intelligence sharing with Ukraine has largely been put on hold. Additionally, the Trump administration has stopped providing aid to Ukraine.
Rystad: Oil Prices Under Pressure, But Don’t Expect a Freefall
Oil prices took a hit this week, and according to Rystad Energy, the bearish mood is real—but temporary. Brent crude briefly dipped near $69 per barrel as markets reacted to OPEC+’s decision to gradually increase output starting in April, while ongoing tariff drama from Washington continues to rattle demand expectations.
Rystad’s Mukesh Sahdev, Global Head of Commodity Markets – Oil, notes that the market is fixated on oversupply fears, especially as time spreads narrow dangerously close to contango. Higher flows from Kazakhstan and Iraq are adding more barrels into an already well-supplied system, and traders are watching to see if OPEC+ will intervene to stabilize the market. “…the anticipated supply losses from US President Trump’s sanctions and tariffs are yet to be considered serious given the administration’s flip-flopping,” Sahdev said in a note on Friday.
“On the contrary, the sentiment for demand-side weakness as a result of Trump’s tariffs is gaining ground.
We project the drop in prices will be temporary and OPEC+ will take corrective measures as the crude time spreads fall below $0.50 per barrel and the market flirts with contango.”
The White House postponed its planned tariffs on Mexico, but Canadian retaliatory measures remain in place, and China is gearing up for its next move. The result? Investors are nervous that global demand could take a hit and pressure prices even further.
Still, Rystad Energy doesn’t see this as a lasting downturn. February marked the seasonal low point for global refinery demand, and between now and August, refinery runs are expected to rise by 3 million barrels per day. That uptick in crude consumption should help absorb some of the incoming supply and provide a price floor.
So yes, oil prices are feeling the squeeze from supply increases and policy uncertainty, but Rystad expects the bearish sentiment to be short-lived. If demand strengthens and OPEC+ adjusts accordingly, the market could find its footing soon enough. But for now, traders should prepare for more volatility before any real recovery takes hold.
nn: i have posted a blackmask market news and commentary titled: iran game changer
Russia reclaims 3 settlements in Kursk region….Ukraine looses 180 soldiers in Kursk in one day
The Russian Ministry of Defense announced on Saturday that its forces took back three settlements in the Kursk region amid the ongoing offensive to reclaim the entire region’s territory and drive back Ukrainian forces. Russia’s northern group of troops liberated Viktorovka, Nikolaevka and Staraya Sorochina, the ministry said in a Telegram post. The Russian military defeated Ukrainian heavy mechanized, mechanized, heavy assault, and two airborne assault brigades in the Kursk region, the ministry revealed. “In total, during the fighting in the Kursk area, the enemy lost more than 65580 soldiers, 386 tanks, 298 infantry fighting vehicles, 259 armored personnel carriers, 2,144 armored combat vehicles, 2,341 vehicles, 522 artillery pieces, 52 multiple rocket launchers, including 13 HIMARS and seven US-made MLRS, 25 launchers of anti-aircraft missile systems,” the defense ministry wrote.
Ukraine looses 180 soldiers in Kursk in one day
Russia’s Defense Ministry reported on Saturday that Ukraine’s military lost 180 soldiers in the Kursk region during the past day alone. Ukrainian forces also lost “one German-made Marder BMP, two armored personnel carriers, seven armored combat vehicles, 13 vehicles, [and] two German-made Panzerhaubitze 2000 self-propelled artillery units,” the ministry said. Russia recently intensified attacks on Ukrainian positions in the Kursk region as a part of the effort to recapture the territory lost to Kiev’s forces in the incursion last year.
NN: its called getting yr ass kicked
Crypto Drops 4% After Trump Executive Order Disappoints Market
A simmering tension in the crypto industry resurfaced after President Donald Trump signed a long-awaited order creating a strategic Bitcoin reserve and an additional stockpile of other digital assets. Even as crypto executives issued effusive social media posts praising the move, Bitcoin fell as much as 5.7%. The largest digital asset pared losses to around 3.2% at $86,946 as of mid-day in Singapore. Four other digital tokens that had previously been highlighted by Trump — Ether, XRP, Cardano and Solana — fell at least 3%. While the creation of the Bitcoin-specific reserve fulfills a promise Trump made on the campaign trail, the details fell short of industry expectations. The order, shared initially as a post on X by White House crypto czar David Sacks, indicated that the government wouldn’t use taxpayer money to fund a strategic reserve of the largest digital asset. Instead, the reserve would be capitalized with Bitcoin already owned by the federal government. Any further acquisitions would require “budget-neutral strategies for acquiring additional Bitcoin, provided that those strategies impose no incremental costs on American taxpayers,” the order said. Nor will the US sell Bitcoin deposited into the reserve, according to the order. Donald Trump’s return to the White House coincides with a massive rally in cryptocurrencies amid hopes of looser regulation. But Trump hasn’t always been a believer, and while investors are riding the wave, crypto is still a risky bet for average Americans.
Stefan von Haenisch, director of over-the-counter trading in Asia Pacific at crypto custody firm Bitgo Inc, said the potential lack of new buying was weighing on the market.
“Previously investors were jumping in to the market in anticipation of the government buying Bitcoin. With this latest development, these positions are being unwound,” he said. The stipulations around the non-Bitcoin stockpile were even more stringent. According to the order, the government would not acquire additional cryptoassets for the stockpile “beyond those obtained through forfeiture proceedings.” And unlike the requirement not to sell any Bitcoin, the order explicitly noted that the Treasury “may determine strategies for responsible stewardship, including potential sales” from the stockpile. The US currently owns about $16.4 billion worth of Bitcoin and about $400 million worth of seven other tokens, largely attributable to asset forfeitures related to civil and criminal cases. The order comes just ahead of a gathering of crypto executives in DC: Some two dozen representatives of companies including Coinbase Global Inc. and Robinhood Markets Inc. are heading to the White House to meet with Trump and Sacks.
“The significance of this executive order is mainly symbolic, as it marks the first time Bitcoin is formally recognized as a reserve asset of the United States government,” said Andrew O’Neill, managing director of digital assets at S&P Global Ratings.
Trump’s campaign pledge to create a strategic Bitcoin reserve was one of many promises designed to appeal to an industry that has emerged as source of significant political donations. That pledge, in addition to his promise to fire Gary Gensler from his then-role as the chair of the US Securities and Exchange Commission, helped fuel a run-up in token prices leading up to his inauguration.
But sentiment in the market turned negative in February as investors reacted to news about tariffs, a $1.5 billion crypto hack, and outflows from digital-asset ETFs.
Then, Trump sparked an intense but short-lived rally over the weekend when he said on Truth Social that Solana (SOL), Cardano (ADA) and XRP would be included in the government’s plans alongside Bitcoin and Ether. Bitcoin proponents reacted with dismay to the social media announcement at the time, criticizing the merits of the other, less established tokens.
The world’s most valuable cryptocurrency, Bitcoin, plummeted on Friday after United States President Donald Trump’s remarks at the White House Digital Asset Summit failed to impress crypto investors. The US head of state reiterated that a strategic Bitcoin reserve, officially established yesterday, will be a “digital Fort Knox.” He stressed that his administration will explore ways to acquire additional Bitcoin holdings, adding that it will “end the federal bureaucracy’s war on crypto.” Bitcoin fell 4.36% to sell for $85,997 at 4:11 pm ET. At the same time, Ethereum plunged 3.51%, going for $2,125.