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Crude Dips to $95 as Surging Dollar, Recession Fear Test Mettle of Oil Rally_我的网站

一 |     New York-traded West Texas Intermediate (WTI) settled down 97 cents, or almost 1%, at $98.53. The intraday low was $95.17, a bottom not seen since the week ended April 8. In just two sessions, the US crude benchmark had lost almost $15 or 14%.,Citigroup says WTI could collapse to $65 a barrel by the end of this year and slump to $45 by end-2023 if a demand-crippling recession hits.,London-traded Brent crude, settled at $100.69, down $2.08 or 2.02%. Earlier, it broke below the $100 mark the first time since April 25, hitting a session low of $98.59. Like WTI, Brent has also lost almost $15, or 13%, over two days of trading.,West May Use Proposed Russian Oil Price Cap Scheme for Gas Price, Von Der Leyen SaysYesterday, 12:20 GMT,A cluster of economic data of late has suggested that the United States may be headed for an economic slowdown - possibly a recession - as the Federal Reserve embarks on the most aggressive rate hikes in a generation to tame inflation roaring at 40-year highs.,A closely-watched gauge of the US services sector fell to its lowest in 20 months in June.,Separately, the US Labor Department signaled that the red-hot labor market may be starting to cool. Job openings, as measured by its monthly survey, fell in May, to a level of 11.254 million that is still high by historical comparison.,The job openings data came ahead of Friday’s more important June non-farm payrolls report, which is expected to show a smaller jobs growth compared with May. Economists say some 268,000 payrolls were probably added last month - versus the 390,000 in May - holding unemployment at 3.6% for a third straight month. A jobless rate of 4% or below is seen by the Federal Reserve as full employment.,“While our view remains that higher consumer prices are required to balance the oil market this summer, we acknowledge that significant and large shocks continue to distort fundamentals,” Goldman Sachs said in an energy market outlook.,Blockage of Russian Bond Payments to Erode Dollar Dominance, French Economist Says27 June, 15:29 GMT,A rocketing dollar ahead of more rate hikes by the Federal Reserve, or Fed, has also shaken the roots of the energy rally seen since the start of the Russia-Ukraine conflict in February and the resulting sanctions on Moscow.,The Dollar Index, which pits the greenback against six major currencies, continued its ascent from overnight, leaping to above 107, its highest since December 2002. The dollar has rallied with few stops since November last year on bets of aggressive rate hikes by the Federal Reserve, or Fed, which has just started delivering on those expectations.,The drone of recession talk is expected to get louder across the United States after the Atlanta division of the Federal Reserve forecast last week a second straight quarter of economic decline for the year. The Commerce Department officially reported a 1.6% economic contraction in the first quarter.,The Federal Reserve, in minutes of its June policy meeting released on Wednesday, said it saw a real danger of high inflation becoming entrenched in the US economy and the only way to balance runaway prices with growth was to have appropriate interest rate hikes.,The central bank is expected to push ahead with another three-quarter percentage point interest rates hike this month, potentially taking key lending rates to between 2.25% and 2.5% range from the 0 - 0.25% range they stood at in February.。    The Department of Homeland Security is telling state and local governments to update software and beef up security around devices connected to the nationwide Emergency Alert System (EAS). The recommendation comes days after security researcher Ken Pyle revealed vulnerabilities in devices used by officials to encode EAS alerts.,Pyle told KerbsOnSecurity that he first discovered the vulnerabilities in 2019 after buying old EAS equipment on eBay. He quickly found the vulnerabilities and alerted the FBI, DHS, and the manufacturer of the devices. Pyle decided to give the manufacturer and government time to address the issue before going public.,DHS Inspector General Overseeing Jan.6 Secret Service Probe Previously Misled Investigators: Report4 August, 12:27 GMT,He started to worry after the Jan 6, 2021 riot at the US Capitol, fearing that the vulnerabilities could be used “to start a civil war.”,That is because despite a patch being issued in 2019, many of the devices have not been updated either because they are too old for the new firmware or because of simple neglect by the operators. Pyle also says that many operators do not perform basic security measures recommended by the manufacturer, like changing the default password and putting the devices behind a firewall.,This is a problem because of the way EAS messages are distributed. There is no central authority and the process is automated in most cases. This means that someone could issue an alert locally and as long as it is accepted as a real EAS alert, it could spread nationwide.,“These devices are designed such that someone locally can issue an alert, but there’s no central control over whether I am the one person who can send or whatever,” Pyle told KerbsOnSecurity. “If you are a local operator, you can send out nationwide alerts. That’s how easy it is to do this.”,One device obtained by Pyle was a non-functional EAS device, purchased from an electronics recycling company. While the device no longer operated, the person who discarded it and the recycling company neglected to wipe the hard drive, giving Pyle access to cryptographic keys allowing him to broadcast messages on Comcast’s network, the third largest cable company in the US.,Comcast told KerbsOnSecurity in a statement that the EAS was lost by a third-party shipper and that the keys and credentials found on the device will no longer work on their system. They also thanked Pyle for his research and for informing them about the issue.,EAS vulnerabilities have been exploited in the past. In 2013, someone hacked the EAS networks in Great Falls, Montana, and Marquette, Michigan, using their access to issue an alert saying that zombies are rising from their graves. That same prank was repeated in Indiana in 2017. There have been other incidents, though they did not include zombies.。

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