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MarketWatch MarketPulseSep 22, 2021
Oil prices settle higher after EIA data show a decline in U.S. crude supplies
Oil futures climbed on Wednesday, buoyed by a weekly decline in U.S. crude supplies, even as gasoline stockpiles edged higher. While much of the data, like the rise in crude production, is "still reflective of temporary hurricane impacts, this week's [Energy Information Administration] report did offer a glimpse into what is likely to come in the weeks ahead" with the reported 1.5 million barrel drop in crude stocks at the Cushing, Okla., storage hub, said Troy Vincent, market analyst at DTN. West Texas Intermediate crude for November delivery rose $1.74, or 2.5%, to settle at $72.23 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since Thursday, FactSet data show.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseSep 21, 2021
The world's central banks speed up digital currency moves post-Covid, Moody's says
The pace of digital currency (CBDCs) development by central banks around the world has accelerated since the start of the Covid pandemic, Moody's Investors Services said Tuesday. The debt research firm said a 2021 survey of central banks by the Bank for International Settlements (BIS) showed that 86% of respondents are actively researching the potential of central bank digital currencies, with 60% in the experimentation phase and 14% piloting specific programs. "This rapid advancement has come as the shift in consumer preferences towards digital payments, while on the rise already, has been accelerated by the Covid pandemic," Moody's analyst Farooq Khan said. "Such behavioral changes have also taken place globally across developing and emerging markets." Digital currencies offer "a systemically safe" state-sponsored payment alternative to existing private payment company services. Central banks in the Bahamas, Brazil, Russia and Georgia have announced plans for their own digital currencies. Other reasons for digital currency include the high cost of transferring hard currency and avoiding high crime rates and natural disasters.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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