According to a report by Odaily, Eric Balchunas, a senior ETF analyst at Bloomberg, stated on the X platform that the United States Oil Fund (USO) saw unusually high trading volume today. As of 11:30 AM ET, its daily trading volume exceeded $7.6 billion, breaking its historical single-day trading record and far surpassing the trading volume levels seen during the periods of significant oil market volatility in 2020 and 2022. Since USO primarily tracks oil prices by rolling over crude oil futures contracts, long-term holdings may be subject to the erosion of futures rollover costs. Furthermore, oil prices are subject to the risk of rapid pullbacks, and investors should be aware of potential volatility. The analysis suggests that this surge in trading volume may be driven by both professional traders and retail investors with a high risk appetite. USO is considered one of the most price-sensitive equity assets, thus often attracting a large amount of short-term trading during periods of significant oil price volatility.

According to Arkham's monitoring, about two hours ago, Grayscale transferred approximately 3,844 ETH (about $7.79 million) and 211 BTC (about $14.6 million) to a Coinbase Prime address.

Huoxun Finance reported on March 9th that France stated the G7 has "not yet reached that step" in coordinating a global release of emergency oil reserves. France currently holds the rotating presidency of the organization. French Finance Minister Roland Lescure stated, "We agree to closely monitor the situation and are prepared to take all necessary measures, including using strategic reserves, to stabilize the market." Earlier on Monday, news broke that the G7 would consider releasing oil reserves, causing Brent crude prices to retreat from a previous gain of up to 29%. Typically, oil reserve releases are coordinated by the International Energy Agency. French President Macron stated earlier on Monday that energy ministers from various countries would also meet in Paris on Tuesday. Historically, coordinated releases of strategic oil reserves have only occurred five times, twice in response to the Russia-Ukraine conflict. The other three times were due to supply disruptions in Libya, Hurricane Katrina, and the first Gulf War.

Odaily Planet Daily reports that global insurance brokerage firm Aon has announced the completion of a proof-of-concept (PoC) for stablecoin premium settlement. The project, conducted in collaboration with Coinbase and Paxos, tested insurance premium payments using USDC (based on Ethereum) and PayPal USD (based on Solana). Aon states that this is the first known instance of a major global insurance brokerage firm attempting to use stablecoins for premium settlement (although currently only a controlled test). Currently, insurance premiums typically require processing through bank clearing systems, and cross-border payments can take days, while blockchain-based stablecoin payments can be completed within minutes, providing transparent transaction records. This test also reflects the expanding application of stablecoins within the traditional financial system. With the US establishing a regulatory framework for stablecoin issuance and reserves through the Genius Act in 2025, banks, fintech companies, and large corporations are beginning to explore the potential of tokenized dollars in corporate payments and fund settlements. John King, Head of Treasury at Aon, stated that such trials help assess the long-term value of stablecoins in terms of efficiency and cost savings. (CoinDesk)

According to Gate data, both WTI and Brent crude oil prices declined in the short term. WTI crude oil's intraday gains narrowed to less than 5%, currently trading at $95.6 per barrel; Brent crude oil's intraday gains narrowed to approximately 6%, currently trading at $98.7 per barrel.