Oil Prices Fall on Looming Supply Glut
Oil prices fell by more than $1 a barrel on Friday as investors weighed a looming global supply glut, while also keeping an eye on a potential Ukraine peace deal ahead of talks this weekend between Ukrainian President Volodymyr Zelenskiy and U.S. President Donald Trump.Brent crude futures fell $1.13 or 1.82% to $61.11 per barrel by 1:14 p.m. EDT. U.S. West Texas…
Democratic Governors ask Trump Administration to lift the freeze on offshore Wind Projects
Four Democratic Governors wrote to U.S. Interior Secretary Doug Burgum wrote to the Trump Administration on Wednesday, requesting that it lift the halt placed on 'five offshore wind project on the U.S. East Coast. On Monday, the Department of the Interior attributed the suspension of leases on the projects to concerns about national security. New York Governor Kathy…
Engineers say that Iraq's gas supply from Iran, which was halted for a while, is expected to resume within a week.
An?engineer from the?electricity ministry said on Wednesday that Iraq's gas supply from Iran should resume within a few days. The electricity ministry announced on Tuesday that gas flow from Iran has been stopped due to the shutting down of some generators and the reduction of load in others. As a result, the ministry reported that between 4,000 and 4,500 megawatts have been lost in?the electric system.
S&P closes at record high as growth stocks surge
U.S. stock prices rose on Tuesday, and the S&P 500 closed at a record high. A flurry economic data including a reading for economic growth drove bond yields up and elevated "growth names". Commerce Department reported that gross domestic product grew at an annualized rate of 4.3% in the 'third quarter,' the fastest pace seen since the third-quarter of 2023. This is well above the 3.3% estimated by economists surveyed by…
Oil Prices Rise as US Continues Tanker Interceptions Offshore Venezuela
Oil prices settled higher on Monday after the U.S. Coast Guard tried to intercept an oil tanker in international waters near Venezuela a day earlier, and Ukraine damaged two vessels and piers in Russia, raising the risk of oil supply disruptions.Brent crude futures gained $1.60, or 2.7%, to settle at $62.07 a barrel, while U.S. West Texas Intermediate crude futures rose $1.49, or 2.6%, to settle at $58.01 a barrel.The U.S.
FEATURE-AI data explosion in Mexico fuels rise of dirty energy
The country's power infrastructure is overloaded and pollution has increased due to the shortfall in green power, despite promises by government and industry to increase capacity. The data centers are huge warehouses that are the size of Olympic stadiums. They sprawl over industrial parks and house hundreds of servers, which consume a lot of energy. These servers power the most powerful technology companies, like Microsoft, Google, and Amazon.
AI data explosion in Mexico fuels growth in dirty energy
The lack of green power, despite promises by government and industry to increase capacity, has overloaded and increased local pollution. Masheika Allgood is the founder of AllAI Consulting. She provides information on data center environmental impacts. The data centers are huge warehouses that are the size of Olympic stadiums. They sprawl over industrial parks and house hundreds of servers, which consume a lot of energy.
Bousso: The geopolitical premium of oil in the ROI vanished by 2025 and is unlikely to return.
In 2025, the global oil markets were faced with multiple black swans events - such as the Israel-Iran War and Ukrainian attacks on Russian refiners. Yet they were barely affected. In an era when energy is abundant, this calm could be the new norm. The year 2025, by any measure, was chaotic in geopolitics, with President Donald Trump's return to his White House and his flurry of trade, diplomatic and policy initiatives dominating the year.
Harbour Energy, UK, enters Gulf of Mexico LLOG market with $3.2 billion deal
Harbour Energy, a North Sea-focused company, announced on Monday that it will purchase deepwater oil exploration and production firm LLOG Exploration at a price of $3.2 billion. This marks its entry into the U.S. Gulf of Mexico. In a press release, Harbour said that the deal would consist of $2.7 billion in cash and $500 millions in Harbour's ordinary voting shares.
Bousso: The geopolitical premium of oil in the ROI vanished by 2025 and is unlikely to return.
In 2025, the global oil markets were faced with multiple black swans events - such as the Israel-Iran War and Ukrainian attacks on Russian refineries - but they were not fazed. In an age of abundant energy, this calm could be the new norm. The year 2025 will be remembered as a geopolitical chaos, due to President Donald Trump's return in January, and his frenzy of trade, policy and diplomatic initiatives.
What is Fusion Energy, the Quest that Trump Media is so enamored with?
Scientists and businesses have tried for decades to harness the fusion energy that powers the sun to produce electricity on Earth. The $6 billion merger announced on Thursday between U.S. president Donald Trump's Trump Media and Technology Group and?Google-backed TAE technologies is the latest development for an industry still a long way from commercialization. What is Fusion?
Russell: Despite Trump's trade moves, the US imports to Asia will drop by 2025.
Asia's imports from the United States of crude oil, coal, and liquefied gas are expected to decrease this year in spite of President Donald Trump’s efforts?to increase shipments through his trade and tariff policy. China is the main driver of the decline in US imports. China, as the world's largest buyer of commodities, has slowed down its purchases since Trump increased tariffs on U.S. imported Chinese goods, with an average rate of around 47.5%.
Russell: Despite Trump's trade moves, the US imports to Asia will drop by 2025.
The U.S. trade policies of President Donald Trump, which include tariffs and increased shipments of crude oil and coal to Asia are expected to lead to a decline in imports this year. The drop in US imports is mostly due to?China. As the largest buyer of commodities worldwide, China has slowed down its purchases since Trump increased tariffs on U.S. imported?Chinese?goods.
Japan's JAPEX purchases US tight oil assets and gas assets for $1.3 billion
Japan Petroleum Exploration Co. (JAPEX), which owns tight oil and natural gas assets in the U.S.A., announced on Thursday that it had 'decided' to purchase the entire equity stake?in Verdad Resources Intermediate Holdings LLC (VRIH) for $1.3 billion. JAPEX will buy the entire VRIH with assets in Colorado - and Wyoming - from Verdad Resources Feeder LLC using 'its own funds and its debt', the company said.
US permits oil sales from Russia’s Sakhalin-2 Project through June 18,
The U.S. extended a waiver on Wednesday that allows oil sales from Russia's Sakhalin-2 Project through June 18, next year. This is a move that will likely allow production of liquefied gas to continue. The general license issued by the U.S. Treasury Department is crucial for U.S. allies Japan who gets around 9% of their LNG from Russia. The license that allows transactions…
Wall Street closes lower after AI funding worries drag down tech stocks
Wall Street's major indexes ended lower on Wednesday. The S&P 500, and the tech-heavy Nasdaq fell to new lows in three weeks as persistent concerns about the artificial-intelligence trade weighed down technology stocks. Oracle fell 5.4% following a report that said Blue Owl Capital, the largest cloud data center partner of Oracle, would not support a $10 billion contract for its next facility.
Wall Street closes lower after AI funding worries drag down tech stocks
Wall Street's major indexes fell on Wednesday, as the S&P 500 and tech-heavy Nasdaq sank to three-week lows. Worries about artificial intelligence trade continued to weigh on technology stocks. Oracle shares fell after a report stated that Blue Owl Capital, the largest data center partner of Oracle's cloud company, would not support a $10 billion contract for its next facility.
Wall Street drops as AI funding worries hit tech stocks
Wall Street's major indexes dropped on Wednesday. The?S&P 500, and the tech-heavy Nasdaq were at their lowest levels in three weeks as nagging concerns about?the??artificial intelligence? trade weighed down on technology stocks. Oracle shares fell by nearly 5% following a report that said Blue Owl Capital, the company's biggest data center partner, would not support a $10 billion contract for its next facility. Amazon.com increased by 0.3%.
Wall St futures rise as investors look at more data and geopolitics
U.S. Stock Index Futures climbed a little higher on Wednesday, as investors waited for more economic data in order to determine the direction of monetary policy. They also monitored geopolitical tensions that were escalating in Venezuela. This pushed oil prices up. Later in the day, a number of "influential" Federal Reserve officials including Governor Christopher…
Palm trades at a tight range, as a strong crude oil offsets slowing exports
Malaysian palm futures were in a tight trading range on Wednesday as higher?crude prices supported the market while concerns about sluggish?exports and 'elevated inventories' continued to weigh. The benchmark palm?contract? for March delivery at Bursa Derivatives Exchange rose 3 ringgit (0.08%) to $3,965 ringgit (970.39 USD) per metric ton. The contract dropped 1.39% over the last three sessions, and reached a six-month high.