Finance news

Ukraine hits Moscow refinery in major drone attack on Russian capital

Ukrainian drones hit the Russian capital’s oil refinery for the second time this week.

Bruce Springsteen, Bono and Stevie Wonder to help the Obamas open presidential museum

Former US president Barack Obama is getting a little help from his friends, including three former presidents, in celebrating the opening of his presidential museum in Chicago. The guest list for Thursday’s dedication ceremony includes Bruce Springsteen, Stevie Wonder, Christina Aguilera and Bono. Obama and former first lady Michelle Obama posed for pictures before the ceremony with former presidents Joe Biden, George W. Bush and Bill Clinton along with former first ladies Jill Biden, Laura Bush

High Tanker Rates Disrupt Persian Gulf Oil Shipments to Asia

The biggest state-owned refiners in China and India have failed to procure supertankers to load crude from the Persian Gulf later in June as tanker rates are too high and guarantees on safe passage through the Strait of Hormuz lacking, Reuters reported on Thursday, quoting company and shipping sources. In the past few days, energy giant PetroChina has received six offers in a tender to procure a very large crude carrier (VLCC) to load Basrah crude from Iraq. PetroChina did not like any of the of

The AI Spending Boom Is Creating a Depreciation Time Bomb

The eye-watering capital expenditure plans of Big Tech has been one of the year’s biggest stories. Google, Meta, Amazon, and Microsoft have all splurged to secure a podium spot in the race to build out the infrastructure that will run the artificial intelligence (AI) revolution. Total capex by these four firms is expected to reach $750bn (£560bn) this year, around half the annual spending of the entire UK government. It is much higher than this high-tech quartet has budgeted for before. And it i

Gas prices fall below $4 per gallon as oil supply fears ease after Iran deal

Gas prices are still 30% higher compared with what drivers paid before the U.S. and Israel attacked Iran on Feb. 28.

India's Pump Prices Stuck Even As Global Crude Crashes

India’s fuel prices will remain elevated for some time despite the declining international crude prices, according to India’s Union Minister of State for Petroleum and Natural Gas, Suresh Gopi. Indian drivers will not see immediate relief at the pump as fuel retailers will need time before starting selling cheaper diesel and gasoline, Gopi said on Thursday, as quoted by Indian media. There will be a lag between the current slide in international crude oil prices and the refiners and retailers ob

Rockstar Games: Pre-orders for GTA VI possible in a few days

GTA VI could set new standards in the video game industry. Rockstar Games is now announcing that the game will be available for pre-order in a few days.

OPEC chief dismisses IEA supply glut forecast as 'critical' Strait of Hormuz reopens

The IEA said on Wednesday that a lasting resolution to the conflict could drive a surge in supply volumes and trigger a major oil overhang next year.

Why the Moment for a Deal Could Not Be Better for Iran

Iran does not need a deal right now because its military or political room for manoeuvre has narrowed. It needs one because the crisis has turned oil (Tehran’s most important economic weapon) into a problematic asset. For years, Iran’s export model survived sanctions by leaning on China, discounted barrels, ship-to-ship transfers, and a shadow logistics chain running from Kharg Island to Malaysia, Singapore and China’s independent refining system. The crisis in the Strait of Hormuz has not destr

Tycoon Gordon Wu says he’s very optimistic about China due to its ‘stability’

Hong Kong property tycoon Gordon Wu Ying-sheung has said he is “very optimistic about the future of China” due to its “stability” as he received the Game Changer Award from the Asia Society for his contributions to the country’s development. At a fireside chat on Thursday after receiving the award from the city leader, the 90-year-old founder and chairman of Hopewell Holdings said he has been betting on China since its opening up in 1978 and had remained confident. “I am very optimistic about...

+++ Ukraine War +++: EU extends Russia sanctions by twelve months for the first time

Ukrainian drones hit large oil refinery in Moscow +++ Ukraine and Germany agree on cooperation on missile defense +++ Zelenskyj threatens attacks on Moscow +++ The news blog.

+++ Ukraine War +++: Ukrainian drones hit large oil refinery in Moscow

Ukraine and Germany agree on cooperation on missile defense +++ Zelenskyj threatens attacks on Moscow +++ Russia: Europeans influenced Trump at the G7 summit +++ The news blog.

JPMorgan: European Stocks Are Attractively Cheap After Oil Price Slump

Europe’s relatively cheap stocks could become attractive for investors as the oil prices plunged and markets hope the Hormuz crisis is over, according to JPMorgan. Assuming that the Middle East crisis has peaked and oil prices drop, investors are likely to return to their positioning from before the war, Karen Ward, chief market strategist for Europe, the Middle East and Africa (EMEA) at JPMorgan Asset Management, told Bloomberg in an interview published on Thursday. Before the Middle East confl

Family business: USA in focus of the Oetker Collection

Alfred and Ferdinand Oetker's group of companies is growing less than one percent, and the largest division is even weaker. Meanwhile, the USA is becoming increasingly important for the brothers.

Hormuz Shipping Activity Accelerates

A growing stream of stranded oil is making its way out of the Strait of Hormuz while empty Iranian vessels rush in, as the U.S.-Iran interim peace deal sparks one of the biggest days of activity since the conflict began.

G-7 statement: The gap in German China policy

Western industrialized countries want to become less dependent on individual raw material suppliers. But a statement by Chancellor Merz raises questions.

Who Would Take Iran’s Uranium?

As negotiations over Iran's nuclear program continue, the fate of Tehran's stockpile of highly enriched uranium remains one of the most difficult issues to resolve. Before US and Israeli air strikes on Iranian nuclear facilities in June 2025, the International Atomic Energy Agency (IAEA) estimated that Iran possessed 440.9 kilograms of uranium enriched to 60 percent. While not weapons-grade, the material is significantly close to the 90 percent enrichment level generally associated with the prod

Corona: Court orders the federal government to pay more because of FFP2 masks

A ruling by the Cologne Higher Regional Court could cost the federal government significantly more in the dispute over corona mask deliveries than previously assumed.

ExxonMobil Backs 1st South African LNG Import Terminal with Supply Deal

Zululand Energy Terminal, being developed as South Africa's first receiving terminal for liquefied natural gas, announced a preliminary agreement for ExxonMobil to supply LNG to the facility.

$DRAM Daily Megathread - $DRAM Skyrockets after FOMC meeting to $76

Another big opening for $DRAM, the $75 resistance has been broken through after closing yesterday slightly down. Where does everyone see $DRAM going from here? Are we chasing $80 soon? Where does everyone see $DRAM going from here? submitted by /u/testableicons1337 [link] [comments]

Automotive industry: EU Parliament agrees to make car parts recyclable

Broken cars still contain many valuable components. They should continue to be used - and fewer vehicles should simply “disappear”.

LNG tanker crosses Strait of Hormuz as US-Iran agreement takes effect

A liquefied natural gas tanker crossed the Strait of Hormuz on Thursday amid signs of resumed shipping traffic. The report explains why this is significant - size, pace and cost of LNG tankers means they carry the highest insurance risk. It also has context about the volume of LNG that usually passes through the waterway. submitted by /u/TheNational_News [link] [comments]

Australia’s Renewable Project Pipeline Is Booming

Following government tenders for nearly 10 gigawatts of new renewable energy capacity, Australia’s pipeline of probable clean energy projects jumped by about 30% to as much as 32.3 GW in the biggest surge on record. The total of accredited, committed, and probable projects have now soared to nearly 70 GW as Australia continues to award tenders for wind, solar, and battery energy storage projects, Bloomberg reported on Thursday, citing data compiled by Australia’s Clean Energy Regulator. Granted,

Auto industry at the arms fair: The Mercedes star now also shines in olive green

For a long time, the German auto industry publicly avoided military business. Now she is confidently presenting herself as part of the booming weapons industry.

China tests future of shipping on its next major trade corridor: a US$10 billion canal

Trials are under way in China to roll out autonomous navigation and other smart shipping solutions to slash logistics costs ahead of the opening of the landmark Pinglu Canal, which will link its landlocked southwestern regions to Southeast Asia to spur trade and connectivity. Intelligent barges and other vessels have been tested on the artificial waterway in the Guangxi Zhuang autonomous region since Wednesday, as part of preparations for the commissioning of the roughly US$10 billion...

Sable Seeks $1B Loan

The owner of the Santa Ynez Unit in California launched a marketing process for a senior secured term loan with a principal amount of up to $1 billion.

Trump lashes out at ‘fools’ who criticise his new Iran peace accord

US President Donald Trump lashed out at critics of his agreement with Iran on Thursday, calling those who accused him of offering concessions to end the war “fools”, ahead of negotiations in Switzerland on implementing the deal. Oil prices tumbled after Trump and his Iranian counterpart separately signed their accord to end the Middle East war, with the Strait of Hormuz to reopen but two months of negotiations lying ahead. In a sudden development after uncertainty over when the deal agreed...

Argus: U.S-Iran Deal Won’t Lead to One-Way Traffic to Plunging Oil Prices

The uncertain pace of supply recovery in the Middle East and the continued rapid drawdowns of global inventories make the case that oil price volatility would drag on during the 60-day U.S.-Iran negotiation window, David Fyfe, Chief Economist at Argus Media, told CNBC on Thursday. As the U.S. and Iran formally signed an agreement to reopen the Strait of Hormuz, oil prices continued their slide this week and Brent Crude was as trading at around $77 per barrel in Asian trade on Thursday, as the ma

Equinor Targets 150,000 Boed Production Growth by 2030

The majority state-owned energy major plans 6-8 tieback projects offshore Norway each year.

Indonesia's central bank hikes rates again, totaling 1% in span of a month