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Top Oil Traders Turn Bearish on Prices, Seeing Global Oversupply

(Bloomberg) -- The mood at Houston’s big annual oil and gas get-together has been upbeat on the prospects for the industry under a fossil fuel-friendly Trump administration. But there’s a significant catch: some of the biggest oil traders are getting more bearish on the outlook for crude prices. Most Read from BloombergTrump DEI Purge Hits Affordable Housing GroupsNYC Congestion Pricing Toll Gains Support Among City ResidentsElectric Construction Equipment Promises a Quiet RevolutionOpen Philant

Bolivia turns to crypto for energy imports amid dollar, fuel shortages

Bolivia's state energy firm YPFB will use cryptocurrency to pay for energy imports amid a painful shortage of dollars and fuel in the landlocked South American nation, a company spokesperson and a government official told Reuters on Wednesday. The country is battling a dangerous slide in foreign currency reserves afters years of dwindling exports of natural gas, which has sparked off a fuel crisis in the country with regular long lines at gas stations and scattered protests. A spokesperson for state-run energy firm YPFB told Reuters that a system had been put in place to use cryptocurrency to purchase fuel imports after a government approval to use digital assets to help meet demand.