Forecasters predict a higher-than-average Atlantic hurricane season in 2025
Colorado State University forecasters announced on Thursday that the 2025 hurricane season in the Atlantic basin is expected to be above average with 17 named tropical systems, nine hurricanes and four major hurricanes. Researchers of the closely followed forecast have said that warm sea surface temperatures are likely to fuel storms again in the tropical Atlantic Ocean and Caribbean. The season runs from June 1, to November 30, and winds in the south of the United States are favorable for storm formation.
US to develop AI on Energy Department Lands
On Thursday, the administration of Donald Trump announced that it had identified 16 sites in the U.S. Department of Energy where data centers and energy plants to support artificial intelligence could be built. The rapid growth of AI has led to a boom in the demand for power in the United States, which is unprecedented in 20 years. Big Tech companies and utilities are scrambling to build data centers and new power plants.
US tech and retail stocks lead the rout following Trump's tariff blow
Apple, Walmart and Nike are among the U.S. megacap tech companies that led to a global meltdown after President Donald Trump announced new tariffs. The fears about a cost spike across many industries were heightened by these new tariffs. The tariffs threaten to disrupt the global trade order and upset businesses. This is a stark contrast to just a few short months ago, when the hopes for business-friendly policies from the Trump administration drove U.S. stock prices to record highs.
Waaree, a manufacturer of Indian solar modules, says that tariffs will not affect its business in the near future.
Amit Paithankar, CEO of India's largest solar panel maker Waaree Energies, said that he does not anticipate the reciprocal tariffs imposed by President Donald Trump on the business of the company in the near future. Trump has imposed a reciprocal tariff of 27% on India, as part sweeping tariffs against most imports to the United States. The U.S. market is an important one for Indian solar modules makers. It accounted for almost one-fifth Waaree's revenues in the past financial year.
Octopus Energy, a British company, has bought a stake in the East Anglia One windfarm
Octopus Energy, a British company, announced on Thursday that its Octopus Energy Generation division had purchased a 10% share in the East Anglia One Wind Farm, which is one of the largest operating wind farms in the world, supplying electricity to around 700,000 households a year. The unit's fourth investment in an offshore wind farm in Britain and seventh in Europe, the financial terms of the deal were not disclosed. Octopus…
Gold prices stabilize after Trump tariffs.
The gold price took a break on Thursday, after it surged to another record high. This was after U.S. president Donald Trump announced sweeping import duties that drove investors into the safe-haven investment. Gold spot was unchanged at $3,130.21 by 0834 GMT, amid profit-taking. It had earlier reached a session high of $3,167.57. U.S. Gold Futures fell 0.4% to $3.154.10. The metal has maintained its rally from last year, with gold prices increasing 19% by 2025.
Prices for EUROPE GAS continue to fall as the warm weather continues curb demand
The Dutch and British gas price continued to fall on Thursday as the warmer weather continues reducing demand. Meanwhile, the market is watching the impact of Trump’s "Liberation Day tariff plan". LSEG data shows that the Dutch front-month contract fell 0.89 euros to 40.60 Euro per Megawatt Hour (MWh), or $12.80/mmBtu at 0827 GMT. The Dutch day-ahead contracts was down by 1.05 euros at 39.95 Euro/MWh. The British day-ahead contracts was down 1,70 pence to 98.80 per therm.
EU Chief: EU to counter new US tariffs
The European Commission's Ursula von der Leyen said that Donald Trump's tariffs on all goods and services were a serious blow to the global economy. She also stated that the European Union would be prepared to take countermeasures in the event of a failure to reach an agreement with Washington. Von der Leyen stated that the EU had already finalised a first set of tariffs for mid-April on goods worth up to 28.4 billion dollars ($26 billion) from the United States in response to U.S.
Trump's tariffs have already been carved out in a significant way. Russell: Oil and gas
Energy commodities were excluded from the new tariffs announced by U.S. president Donald Trump. White House announced on Wednesday that the baseline of 10% for all imports into the United States and even higher for major trading partners will not apply to crude oil and natural gas, or refined products. The exemption of energy imports is an obvious tactic that will limit the pain Americans feel as a result of tariffs. It also fits in with Trump's larger goal to keep energy costs low.
US Businesses brace themselves for more pain when Trump imposes reciprocal tariffs
The U.S. president Donald Trump announced on Wednesday a number of reciprocal duties on trading partners, the latest of a long list of duties that have been imposed by him since he returned to the White House in early this year. From April 5, the U.S. is imposing a baseline 10% tariff on all imports into the country and will be increasing duties for several of its largest trading partners. Levies may be especially damaging to U.S. firms in sectors that have already been hit with duties. Following U.S.
Trump exempts oil imports from his sweeping tariffs
The White House announced on Wednesday that imports of refined products, oil and gas were exempted by President Donald Trump from his new sweeping tariffs. The exemption is a welcome relief for the U.S. Oil Industry, which was concerned that new taxes could disrupt flow and increase costs of everything from Canadian crude oil to Midwest refineries and European cargoes to the Eastern Seaboard. Trump announced on Wednesday that he will impose a baseline 10% tariff on all imports into the United States…
US businesses prepare for more pain when 'Liberation Day" tariffs loom
Businesses all over the world are eagerly awaiting details about the new tariffs that President Donald Trump has imposed on his trading partners. This is the latest in an extensive series of duties that have been imposed by the U.S. since he returned to the White House at the beginning of this year. Trump is expected to announce the new duties at a ceremony on Wednesday at 4 pm Eastern Time (20:00 GMT), dubbed "Liberation Day". Administration officials say that Trump's tariffs are cumulative, and include previous rates.
Data shows that Russia's LNG imports fell by 1.2% year-on-year in the first quarter of 2018.
LSEG's preliminary data on Tuesday showed that Russia's LNG exports in the first quarter of this year fell by 1.2% compared to a year ago, reaching 8.1 million metric tonnes. Due to U.S. sanctions over the invasion of Ukraine, Russia has been unable to increase its LNG exports. The new Arctic LNG 2 facility has effectively been frozen due to the Western sanctions. According to two sources, Arctic LNG 2 resumed processing in the last month.
Belgium's king meets Vietnam's leaders, hydrogen deals signed
On Tuesday, King Philippe of Belgium and Vietnamese leaders signed agreements to collaborate in areas such as green hydrogen. The first visit by a Belgian royal to Vietnam is accompanied by a large delegation of businessmen, academics and politicians. According to Vietnamese state-run media, Vietnam's president Luong Cuong described Philippe's visit as a landmark in bilateral relations. According to the EU Council's website…
Tokyo Gas, Japan expands its US shale-gas business with Chevron
TG Natural Resources LLC, co-owned by Tokyo Gas, Castleton Commodities International and Castleton Commodities, announced on Tuesday that it had purchased a 70% stake of east Texas gas assets for $525m from Chevron, in order to expand its U.S. Gas business. TGNR, which is the fourth largest producer in the Haynesville shale region, will be able to benefit from synergies worth over $170m during the development of the asset, according to Craig Jarchow.
Freeport-McMoRan reduces its first-quarter gold sales estimate
Freeport-McMoRan, a gold miner in the United States, lowered its first-quarter forecast on Monday after timing issues with Indonesian shipments led to deferrals of some of its quarterly production. Freeport, which operates Indonesia's Grasberg mine, one of the largest gold and cobalt mines in the world, had built a smelter as part of a operating agreement with Jakarta officials. The smelter in question was destroyed by fire last year, and it was closed.
Washington has revoked Repsol's license to operate in Venezuela
A company spokesperson announced on Monday that U.S. officials had notified Repsol of the revocation of its license to import oil from Venezuela. Meanwhile, Spain's Foreign Minister promised to protect Repsol's interest. The spokesperson for President Donald Trump said that the administration of Repsol told the company it had until the 27th of May to end its operations in South America. The U.S. government informed Italian companies that they were no longer authorized to operate in Venezuela.
The US has revoked the specific license of French oil company M&P for its activities in Venezuela
Maurel et Prom, a French oil company, announced on Monday that the Office of Foreign Assets Control of the U.S. Treasury Department has revoked its specific licence to operate in Venezuela. Last week, U.S. president Donald Trump issued an order declaring any country that purchases oil or gas from Venezuela would pay a 25% duty on all trades with the United States. Former President Joe Biden’s administration granted individual…
Texas oil and gas upstream jobs increase in February, says industry group
The Texas Independent Producers and Royalty Owners Association, or TIPRO, announced on Friday that upstream oil companies increased hiring in February. This is the second consecutive month of growth. Hiring in upstream, which includes drilling and producing oil activities, can be an indicator of how the oil and gas sector is doing. More drilling could be expected if companies hire more staff. TIPRO represents more than 3,000 independent producers in Texas.
Sources say India is considering scrapping the import tax on US LNG to boost purchases.
Four government and industry sources have said that India is considering scrapping the import tax on U.S. LNG to increase purchases and reduce the trade surplus, which is a major irritation for President Donald Trump. Both sides want to increase volumes in order to meet the energy needs of India's fast-growing economy. Qatar is India's top LNG supplier. India and the United States agreed that they would increase their energy purchases in the U.S. by $10 to $25 billion over the next few years.
