US considers oil tanker insurance to ease Middle East crude shipping, sources say
Two sources say that U.S. president Donald Trump will review on Tuesday a number of policy options to control energy prices in the face of the escalating conflict in the Middle East. One option is for the government help oil tankers obtain insurance. Since Israeli and U.S. troops began attacking Iran on the weekend, fighting has disrupted Middle East oil tanker deliveries.
Global Energy Prices Jump as Middle East Crisis Interrupts Shipping, Oil Production
Global oil and gas prices jumped on Tuesday as the U.S.-Israeli war on Iran halted energy exports from the Middle East, with Tehran attacking ships and energy facilities, closing navigation in the Gulf and forcing production stoppages from Qatar to Iraq.The benchmark Brent crude oil contract gained nearly 8% on Tuesday to above $83 per barrel, the highest since July 2024, taking gains since Friday to more than 15%.
TSX drops nearly 4% amid inflation fears fueled by Middle East conflict
Canada's main index of stocks fell on Tuesday, as the Middle East conflict entered its 4th day. This was due to sector-wide losses. As of 10:24 a.m., the S&P/TSX Composite Index was down 3.97%, at 33,173.05 point. The S&P/TSX composite index was down 3.97% at 33,173.05 points as of 10:24 a.m. ET and appeared to be on track for its biggest single-day decline since April 2025 when U.S. president Donald Trump announced reciprocal duties.
India looks for alternative energy sources amid Strait of Hormuz disruption
A government source revealed on Tuesday that India is looking for alternative sources of crude oil, liquefied petroleum and natural gas in order to be prepared if the conflict in the Middle East continues for more than 15 days. The shipping through the Strait of Hormuz, between Iran and Oman - which carries a fifth of the oil and gas consumed worldwide - has come to a halt. This is after Iranian vessels were attacked in response to U.S.
Wall Street closes with a narrowly mixed result, but trading is volatile following air strikes on Iran
U.S. stock prices ended Monday close to flat after a volatile session that saw shares fall early following the weekend's?U.S. Israeli air strikes against?Iran.?But there were bounces all day long as investors bought dips. The coordinated U.S.-Israeli strikes against Iran last weekend resulted in the death of Tehran's Supreme leader, and shocked global markets. Oil prices rose and many overseas stock indexes ended lower.
Iran threatens to attack any vessel trying to cross the Strait of Hormuz
Iranian media reported that a senior Revolutionary Guards official told them on Monday, "the Strait of Hormuz was closed" and that Iran would fire at any ships trying to pass. This is Iran's?most explicit warning since it told ships on Saturday that?it would?close the export route. The move threatens to choke off a fifth global oil flow and send crude prices sharply up. The Strait of Hormuz is closed.
Minister says Austria will deepen its cooperation with Abu Dhabi
Austrian Economy Minister Wolfgang Hattmannsdorfer announced that the country plans to expand economic cooperation with Abu Dhabi following the creation of Borouge Group International (BGI), a chemicals company. In an interview with?Hattmannsdorfer on Friday night, he said that he expects BGI, the?tie up between units of 'Abu Dhabi National Oil Company' and Austrian…
Venture Global lowers its 2026 profit forecast due to the winter storm and LNG margin squeeze
Venture Global, a U.S. LNG company, forecast its 2026 core profit to be?below Wall Street's expectations on Monday. This was due to the?impacts of Winter Storm Fern as well as margin compression during the first quarter. Last month,?reported that?exports?of liquefied gas from the U.S. dropped to 11.3 million tonnes in January from 11.5 mmt during December due to a winter freeze which closed some plants and reduced output in others.
Raychaudhuri: Indian equities are a bright spot in the market.
Indian stocks, once the darlings of global investors have been underperforming other emerging markets in the past year due to?trade tensions and falling earnings estimates, while high valuations also dulled their shine. Changing domestic and geopolitical tendencies may attract global investors again. Last year, the main problem for Indian shares was that earnings expectations declined even though valuations remained high.
Russia warns of a possible oil shortage due to the closure of Strait of Hormuz
The Russian Foreign Ministry said on Sunday that the closing of 'the Strait of Hormuz' to shipping would lead to "significant imbalances" in a global oil and gas market. Trading sources reported on Saturday that a number of tanker owners, major oil companies and trading houses had suspended crude oil, fuel, and liquefied gas shipments through the Strait of Hormuz following the U.S. and Israel's attacks against Iran.
Putin condemns the killing of Iran’s Khamenei, but has offered little more than condolences.
The Russian president Vladimir Putin condemned Sunday the murder of Iranian Supreme leader Ayatollah Ali Khamenei, calling it a "cynical", but offered Moscow's ally little else in public than condolences. Khamenei's fall is the 'third Russian ally that has been toppled? in the last 15 months. This follows the fall of?Moscow backed?leaders?in Venezuela and Syria. The Kremlin is now facing a major strategic setback after Khamenei's death.
Fugro reports year-loss due to challenges in renewables
Dutch geological data specialist Fugro reported on Friday a loss of 21 million euros ($25 million), reflecting the challenges faced by the offshore wind industry, and announced that its finance chief will step down in April. The Amsterdam-listed firm's revenue was 1.85 billion euro, which is 427 millions less than it was in 2024. Of this, 380 million euro were attributable the the slowdown on the renewables markets.
Technip's chief claims that the floating wind market is'much smaller than expected'
Technip Energies CEO Arnaud Pietten said that the demand for floating wind turbines was much lower than it had been only three to five years ago. This reflects a broader concern across the wind industry. Ekwil is Technip and SBM Offshore's joint venture that focuses on "floating wind energy solutions". It will be there when projects are made. Pieton, in a call with reporters following the earnings announcement…
Cheniere Raises Share Repurchase Target After Q4 Profit Doubles
Cheniere Energy said its fourth-quarter profit more than doubled on strong liquefied natural gas (LNG) demand and the company raised its share repurchase target to more than $10 billion through 2030.Shares of the largest LNG producer in the U.S. were up 1.2% at about $223 in premarket trading on Thursday.The U.S. is the world's largest LNG exporter and had shipped 15 billion cubic feet per day (bcfpd) of the supercooled fuel last year…
Cheniere increases buyback plan above $10 billion due to strong LNG demand
Cheniere Energy reported that its fourth-quarter profits more than doubled due to a?strong demand for liquefied gas (LNG). The company also raised its share repurchase goal from $10 billion until?2030. The largest LNG producer in the United States, the shares of this company are up 1.2% at $223. In premarket trading, shares of the largest?LNG producer in the?U.S. were up about 1.2% to $223. According to the U.S.
First Solar's outlook is not as optimistic as it was in the Trump era.
First Solar, the U.S.'s largest solar panel manufacturer, cited a?customer headwind, such as delays in permits under the Donald Trump Administration, which sent its shares down by nearly 14%. In a call following earnings, CFO Alex Bradley stated that the company expects to see a $125-$135 million impact in 2026 from tariffs. "We've run at a very low usage rate to try and sort of?"buy some time" to see how tariffs eventually get played out…
The US AI boom is facing an electric shock
The race for artificial intelligence dominance by Big Tech may hit a snag soon as U.S. power grids struggle to keep up with hyperscalers who spend a lot of money. Microsoft, Amazon Alphabet, and Meta are among the technology giants in America that have announced in recent months plans to spend over $600 billion in AI by 2026. Investors are already unsure about the viability of this strategy due to the investment wave. The ambitious U.S.
Vopak turns strong profits into $2 Billion in investor returns
Vopak, a tank storage company, announced on Wednesday that it will return 1.7 billion Euros ($2.0 billion) in dividends to shareholders over the course of the next five-year period. Profits surged by 61% on the back a strong cash flow last year. The company's shares rose by?around 10% after the announcement of earnings in early Amsterdam trading. The Dutch company…
Sources: Saudi Arabia increases oil production and exports to prepare for a US attack against Iran
Saudi Arabia has increased its oil exports and production as part of an emergency plan, in case a U.S. attack on Iran disrupts Middle East supplies. Two sources familiar with this plan told Reuters on Wednesday. The Saudi Government Media?Office did not respond immediately to a comment request on the plan. Donald Trump, the U.S. president, has stated that he would…
Sources say that OPEC+ will consider an increase in oil production of 137,000 bpd for April.
OPEC+ will likely consider?raising their oil output by 137,000 barrels a day for April. Three sources familiar with OPEC+'s thinking stated that the group is preparing for the peak summer demand as well as a price increase due to tensions between the U.S. After a three-month pause, the OPEC leader Saudi Arabia, and other OPEC+ countries such as Russia, Iran and Kazakhstan…