What is happening in Yemen and why are Saudi Arabian and UAE involved?
The dispute over the control of southern Yemen has brought former Gulf allies Saudi Arabia, the United Arab Emirates and the Iran-backed Houthis into conflict and has fractured the coalition. Last month, the separatist Southern Transitional Council - backed by UAE - seized large swathes in southern and eastern Yemen. However, it was largely retaken from them by Saudi-backed forces. Saudi Arabian talks to settle the dispute had been scheduled for Riyadh, Saudi Arabia this week.
Venezuelan oil will boost US refiners but hurt Canadian producers
Refiners in the United States would be able to absorb most of the approximately 1 million barrels of crude oil per day if U.S. Sanctions on Venezuela are lifted. According to a report on Tuesday, the U.S. has been in talks with Venezuela about exporting crude oil from the South American country to the United States. Sources say that U.S. oil executives will visit the White House Thursday to discuss Venezuela. The increase in Venezuelan oil exports may hurt Canadian firms that sell similar heavy oils…
Venezuelan oil will boost US refiners but hurt Canadian producers
Refiners in the United States would be able to absorb the majority of the approximately 1 million barrels of crude oil per day that would be traded freely if the sanctions were lifted. The sanctions against the South American nation are lifted. Canadian oil companies, who sell heavy crude similar to that of Venezuela, and small Chinese refiners would suffer higher costs, if Venezuelan crude was diverted to the U.S. The U.S. president Donald Trump is asking for billions of dollars in order to rebuild Venezuela's oil sector…
US oil companies benefit after Trump signals access Venezuelan reserves
U.S. Oil Companies' Shares jumped Monday fueled by the prospect that the U.S. could gain access to Venezuela's vast reserves of oil after President Donald Trump announced that the U.S. was taking control of Venezuela following the arrest of their president. Venezuela has the largest oil reserves in the world, but its production has plummeted over the past decades because of?mismanagement?, a lack of foreign investment after the nationalization and sanctions on the oil industry. Trump stated on Saturday that the U.S.
Oil Prices Fall After Biggest Annual Loss Since 2020
Oil prices dipped on their first trading day of 2026 after registering their biggest annual loss since 2020 as investors weighed oversupply concerns against geopolitical risks, including the war in Ukraine and Venezuela exports.Brent crude futures lost 55 cents to $60.29 a barrel by 11:16 a.m. ET (1616 GMT) on Friday while U.S. West Texas Intermediate crude was down 53 cents at $56.89.Russia and Ukraine traded allegations of attacks on civilians on New Year's Day despite talks overseen by U.S.
Oil Prices Stabilize as Russia-Ukraine Peace Hopes Fade, Yemen Tensions Rise
Oil prices were steady in choppy trade on Tuesday as investors weighed dented hopes of a Russia-Ukraine peace deal and rising geopolitical tensions in the Middle East around Yemen.Brent crude futures for February delivery, which expire on Tuesday, were up 3 cents, or 0.05%, at $61.97 a barrel at 1:18 p.m. EDT. The more active March contract was down 12 cents or 0.2% at $61.37.U.S. West Texas Intermediate crude fell 6 cents, or 0.1%…
Palm snaps four-session rally due to high stock prices
Malaysian palm futures ended a four session rally on Monday. They were weighed down by increased inventories but kept in check by expectations of declining?production and firmer demand. By the close, the benchmark palm oil contract on Bursa Derivatives Exchange for March delivery had fallen 40 ringgit or 0.98% to 4,049 Ringgit ($997.78). David Ng is a proprietary trader with Kuala Lumpur's trading firm Iceberg X Sdn. Bhd. He said that the market was under pressure due to a negative sentiment about?high stock level.
Palm oil prices slip on concerns about high stocks
Malaysian palm futures are expected to end a four-session rally Monday as increased inventory levels weigh on the market. However, declining production and stronger demand will keep prices high. At midday, the benchmark March palm oil contract on the Bursa Derivatives exchange fell 17 ringgit (0.42%) to 4,072 Ringgit ($1,004.94) per metric ton. David Ng, a proprietary?trader at Kuala Lumpur's Iceberg X Sdn. Bhd., stated that the levels of trading in Malaysia are increasing.
Battery boom sparked by China's energy reforms and global data centres
The Chinese energy storage manufacturers are booming as a result of the revamping of China's electric market. According to one estimate, Chinese firms will see a 75% increase in global shipments this year of lithium-ion batteries for energy storage. They have exported more than $65 billion worth of storage and electric-vehicle batteries this year, cementing their dominance in a sector vital ?to ?backing up wind and solar and keeping power coursing through artificial-intelligence data centres.
Japan's JERA signss LNG sales agreement with Hokkaido Gas
JERA, Japan's largest power generator, has signed an agreement to sell and buy liquefied gas with Hokkaido Gas. The deal will see JERA supplying two-to three LNG cargoes per year for seven years starting in 2027. JERA will deliver 130,000-200,000 metric tonnes of LNG per year, delivered ex ship, under the agreement. It said that the deal would strengthen Japan's energy security, diversify JERA's portfolio of LNG sales, and enhance stability and flexibility in the domestic market.
Schneider Electric announces $4 billion in share buybacks, boosts margin forecast
The?France-based?Schneider Electric announced on Thursday that it plans to purchase up to 3.5 billion euro ($4.1 billion) worth of shares through 2030. This is the first time in almost three years. It also aims to improve its core profit margin over the same period. The industrial group, in a press release published before an Investor Day?event held in London, said that it expects its adjusted earnings prior to interest, taxes, and amortization (EBITA) margin will increase by 250 basis points from 2026 to 2030.
Report: China invested $80 billion in cleantech overseas last year
According to a recent report from the Australian research group Climate Energy Finance, Chinese companies have invested $80 billion overseas in clean technologies to help absorb an oversupply. According to the report published on Sunday, many countries have also intensified their cleantech collaboration with China as a result of U.S. president Donald Trump's new tariffs. This brings China's overseas direct investment in green technology up to more than 180 billion dollars since 2023.
Maguire: High natural gas prices may lead to a new surge in coal consumption in the US
The benchmark U.S. gas prices will end 2025 the same way they started - with an explosive rally. This is bad news for those who hoped for a further reduction in coal consumption in the U.S. Gas prices in the United States increased by a third between January and March this year due to a harsh winter and strong LNG exports. This led to an increase in coal-fired electricity generation, as utilities reduced costs by burning coal instead of gas. As 2025 approaches, a similar pattern is emerging.
Maguire: High natural gas prices may lead to a new surge in coal consumption in the US
The benchmark U.S. gas prices will end 2025 the same way they started - with an explosive rally. This is bad news for those who hoped for further reductions in U.S. coal usage. Gas prices in the United States increased by a third between January and March this year due to a harsh winter and strong LNG exports. This led to an increase in coal-fired electricity generation, as utilities reduced costs by burning coal instead of gas. As 2025 approaches, a similar pattern is emerging.
Energean increases annual net debt forecast for expansion plans in Israel
Eastern Mediterranean-focused gas producer Energean raised its annual net debt forecast on Wednesday, as the company ramps up spending on major projects in Israel and Croatia amid geopolitical disruptions. The London-listed firm secured $4 billion in Israeli gas offtake contract during the first half of this year. This brings its contract pipeline up to $20 billion for the next 20 years. Energean’s production has taken a significant…
Lukoil Trading Arm Falls Apart Under US Sanctions
U.S. sanctions are dismantling what remains of Lukoil's Litasco, once Russia's biggest oil trader and a rival to top Swiss houses and oil majors, five sources told Reuters.The measures, which also target state-owned Rosneft, took effect on Friday as Washington seeks to choke off Moscow’s ability to fund its war in Ukraine. They have thrown Lukoil’s global operations into limbo, from oilfields in the Middle East to fuel pumps and refineries across Europe.Cut off from the global financial system…
US and Saudi announce new business deals during investment forum
Saudi Arabian and U.S. officials highlighted billions of dollars in new investments on Wednesday, coinciding the Saudi Arabian Crown prince Mohammed bin Salman’s Washington visit. According to the program for the event, the CEOs of Chevron and Qualcomm as well as General Dynamics, Cisco, General Dynamics, Pfizer, and Alphabet's Google will attend the U.S. Saudi Investment Forum in Washington. Also attending are senior executives from IBM and Andreessen Horowitz as well as Boeing…
Saudi Crown Prince tries to improve image of Saudi Arabia with top corporate executives
WASHINGTON, November 19 - Saudi Arabian crown prince Mohammed bin Salman, who was reintroduced to Washington by President Donald Trump with a glowing White House endorsement, will rub shoulders on Wednesday with some of the most powerful corporate executives in America. According to the program for the event, the CEOs of Chevron and Qualcomm will attend, along with senior executives from IBM and Alphabet's Google. Also attending are Boeing, Halliburton Adobe, Aramco State Street, Parsons Corp., and Salesforce.
Elon Musk, Jensen Huang to talk AI at US-Saudi investment forum
According to a document that was seen by us, Elon Musk of Tesla and Jensen Huang of Nvidia will be taking part in a panel discussion about artificial intelligence and technology on Wednesday at the U.S. Saudi Arabia Investment Forum in Washington. The document stated that "This conversation will examine the emerging forces shaping a new wave of technological advancement, highlighting architectures, models and investments driving…
Lukoil to Sell International Assets
Russia's Lukoil is selling its international assets after the U.S. imposed sanctions on the company.Washington refused to approve the sale of assets to Swiss commodity trader Gunvor, throwing Lukoil's operations in disarray and leading to a scramble of potential buyers.The U.S. Treasury cleared potential buyers to talk to Lukoil until December 13. They will need separate approval for specific deals. U.S. oil major Chevron is studying options to buy some global assets of Lukoil, sources have said. U.S.