... European Union, Japan, and several other partners, avoiding a full-scale tariff war and supporting confidence in demand resilience. However, from August 1, Washington has introduced new tariffs on imports from several countries (including India and Canada) that did not conclude agreements, adding uncertainty. Nevertheless, the global summer travel season is driving high demand for gasoline and jet fuel in major economies (U.S., China, etc.). Leading analytical agencies project that global oil consumption ...

... long-distance travel; furthermore, the rising popularity of remote work and cost-saving measures are lowering drivers’ mileage. Secondly, gasoline supply has increased: American refineries are operating at high capacity, and fuel imports from Europe and Canada have surged onto the East Coast. In June, the U.S. imported approximately 100,000 barrels of gasoline per day – a maximum for more than a year. Wholesale bases and storage facilities are full, leading to price declines in bulk and passing this ...

... partially reduced longer road trips; furthermore, the spread of remote work and cost-saving measures is lowering drivers' mileage. Secondly, gasoline supply has risen: American refineries are running at high capacity, and imports of fuel from Europe and Canada have sharply increased on the East Coast. In June, the U.S. imported around 100,000 barrels of gasoline per day—the highest in over a year. Wholesale bases and inventories are filled, leading to lower wholesale prices and the transfer of this ...

... redirected its GPU farms to cloud computing, mining other PoW coins, and providing data center services for AI after Ethereum transitioned to PoS. Bitfarms and CleanSpark focus on geographical diversification of their farms and utilizing cheap energy (in Canada, Argentina, the U.S.), regularly selling a portion of their production to fund expansion. Even traditional players in the energy sector and engineering giants are increasingly investing in mining by building joint data centers and providing excess ...

... partially reduced long-distance driving; furthermore, the prevalence of remote work and thrift mode lowered driver mileage. Secondly, gasoline supply has increased: American refineries are operating at very high capacity, and fuel imports from Europe and Canada have sharply increased on the East Coast. In June, the U.S. imported about 100,000 barrels of gasoline per day—the highest in over a year. Wholesale bases and storage are filled to the brim, leading to declining wholesale prices that then get ...