Cryptoil

Illinois Governor JB Pritzker signed a budget bill introducing a 0.2% tax on cryptocurrency transactions involving state residents as part of a US$55.9 billion fiscal 2027 budget.

Bloomberg's Shruti Singh joins Katie Greifeld on "Bloomberg Real Yield." Illinois legislators early Monday morning passed a nearly $56 billion budget for the fiscal year starting July 1, aiming to ease higher health-care and housing costs while bracing for potential federal funding cuts.

Daan Struyven, global commodities research co-head at Goldman Sachs, says oil bottlenecks and supply chain logistics related to the Strait of Hormuz put the global oil market on track to reach the lowest-ever level for global visible inventories, which "implies some upside risks to our forecasts."