Finance news

◇ unclassifiedmiddle-east · usa · iran

Crude Stabilizes After Sharp Selloff

Oil edged higher, but prices remain under pressure as a US-Iran peace deal could restore major supplies to the market.

Whatever Happened to the Promise of Cheaper Electricity?

As readers of Adam Smith know, the market functions to provide consumers with goods and services at the lowest price (within limits set by law). Yet, several years ago, we submitted a piece claiming that restructuring the electricity industry had not produced noticeable consumer benefits, and the irate peer reviewer (we suspect a big shot restructuring maven ) retorted that you can’t prove a negative but added, “Who said that restructuring was supposed to benefit consumers?” On the first point,

25d06/17⚠ war-conflict · 3/5

+++ Ukraine War +++: Trump is considering reintroducing sanctions against Russia

G7 want to increase pressure on Russia with new sanctions +++ Relaxation of US oil sanctions against Russia expired +++ Dead in Russian attacks in Ukraine +++ The news blog.

◇ unclassifiedgermany · europe · russia

How the Oil Sands Became the Lowest-Cost North American Producer

After the oil price crash of 2014-15, global energy majors like BP (NYSE:BP), Chevron (NYSE:CVX), and TotalEnergies (NYSE:TTE) sold their interests in the Canadian oil sands, at the time classifying their Canadian operations as among the most expensive and least profitable. Thus, the majors redirected capital to cheaper oil production, favoring US shale for its quicker drilling time and returns. They may end up regretting that decision. According to a recent report, via the Canadian Energy Centr

Kazakhstan Bets $10 Billion on AI With Nvidia-Backed Data Center Valley

The Kazakh government has inked a $10 billion deal with US chip-making giant Nvidia and an Armenian-American cloud company to develop a 'Data Center Valley' in the country’s northern Pavlodar region. The deal is seen as anchoring a broader effort to turn Kazakhstan into a global digital hub. Kazakhstan recently adopted a development strategy called “Digital Qazaqstan“ to guide the country’s transformation into a cognitive economy through 2029. “Digital Qazaqstan represents a fundamental transiti

25d06/17⚠ war-conflict · 3/5

Vegetable oil versus electricity: diesel engine? Yes, please

At the Federal Ministry of Transport, State Secretary Christian Hirte has decided on a company car with a diesel engine. In the interview he explains why diesel made from vegetable oil should produce fewer climate-damaging emissions than an electric car.

IEA Sees Massive Oil Surplus In 2027 As Middle East Supply Returns

The global oil market could swing from one of the largest supply disruptions in history to a surplus of more than 5 million barrels per day next year if Middle East production and exports recover following the U.S.-Iran peace agreement, the International Energy Agency (IEA) said on Wednesday, as reported by Reuters. In its first outlook for 2027, the Paris-based agency forecast global oil supply growth of 8 million barrels per day, far outpacing projected demand growth of just 2 million bpd. The

UniQure to seek FDA approval for Huntington's disease gene therapy after previous clash with agency

The announcement comes months after UniQure became embroiled in a public debate with FDA leaders over the clinical trial data supporting its application.

◇ unclassifiedusa

Artificial Intelligence Is Driving a Geothermal Energy Boom

The artificial intelligence boom is fueling an energy revolution. The extreme electricity demands of the fast-growing sector are kicking the research and development of a huge number of next-gen energy alternatives into overdrive, with particular attention to clean energy sources that can provide power 24/7. As a result, the private and public sectors alike funnel billions into nuclear fusion and enhanced geothermal, among other future-facing baseload energy sources. In recent years, geothermal

Exxon Set to Supply LNG to South Africa’s First Import Terminal

ExxonMobil and the company developing South Africa’s first LNG import terminal have signed a preliminary agreement for the U.S. supermajor to supply LNG to the proposed import terminal at the Port of Richards Bay, Zululand Energy Terminal (ZET) said on Wednesday. The Zululand Energy Terminal is being developed as a joint venture between Vopak Terminal Durban and Transnet Pipelines, and is expected to be South Africa’s first LNG import facility, enabling the import, storage, regasification, and d

26d06/17⚠ coups-regime · 2/5

G7 summit: A mild Donald Trump and demonstrative unity: Évian is Macron's last coup

While he is a number in domestic politics, French head of state Macron shines on the international stage. He portrays himself as a host who can tame US President Trump.

Shipping Industry Remains Wary Despite U.S.-Iran Agreement

Shipping firms remain reluctant to navigate the Strait of Hormuz sea passage despite this week’s peace deal, according to a boss of the industry’s lobby group who warned that trade volumes will not return to full capacity until next year. Peter Aylott, director of policy at the UK Chamber of Shipping, told City AM that firms would need to see a “fairly robust string of evidence” that tankers stuck in the Persian Gulf could leave free from before they would have the confidence to sail through the

◇ unclassifiedchina · asia · usa

Iranians find little cause for celebration in US peace deal: ‘99% in survival mode’

When Iran’s ⁠Foreign Minister Abbas Araqchi announced the interim deal this week to end the ⁠war with the United States, he declared his country the victor. To many Iranians, it does not feel that way. More than three months of US and Israeli air strikes, and a blockade of Iranian ports, have poured new misery on a people already toiling under years of sanctions. Although the war is over – for now – Iranians are still watching their spending carefully. Few of the supporters and opponents of the.

◇ unclassifiedgermany · europe · usa

Wall Street: Trump puts a damper on the oil relaxation rally

As oil prices rise again, Fed Chairman Kevin Warsh's first decision is coming: Will there be an interest rate hike?

26d06/17⚠ coups-regime · 1/5

How many of you have actually calculated your returns against the S&P, properly, and how many are just assuming you're beating it because your portfolio is green?

I've been picking individual stocks alongside an index core for a couple of years now and if you asked me at a party I'd tell you I'm outperforming, but last month I actually sat down and ran the numbers the way you're supposed to, time-weighted, adjusted for every deposit and withdrawal, after taxes on realized gains, and accounting for the cash drag from money sitting in my brokerage earning basically nothing while I waited for the right entry point. That idle cash was sometimes 15 to 20% of m

Social◇ unclassifiedusa

TotalEnergies: Saudi Refinery Won’t Fully Recover Until 2027

A major Saudi Arabian refinery damaged during the Iran conflict will not return to full operations until early 2027, according to TotalEnergies CEO Patrick Pouyanné, raising fresh concerns about the pace of recovery in global fuel markets even as a U.S.-Iran peace agreement moves forward. Speaking before France’s National Assembly on Wednesday, Pouyanné said the 460,000-barrel-per-day SATORP refinery in Saudi Arabia is still operating at only 70% capacity after being struck by three drones in Ap

◇ unclassifiedmiddle-east · usa · iran

Iraq Readies to Boost Oil Exports When Hormuz Reopens

There are already signs of shipping activity, with Iran moving its own oil tankers and other vessels changing course to head toward the Persian Gulf even before Washington and Tehran sign an interim agreement to end their hostilities later this week.

US Crude Oil, Gasoline Inventories Still Falling: EIA

Crude oil inventories in the United States decreased by 8.3 million barrels during the week ending June 12, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The decrease brings commercial stockpiles to 418.2 million barrels, according to government data, which is now 6% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories saw a d

Poland Moves To Tax Fuel Windfalls Earned During Iran War

Poland’s government has approved a one-off windfall tax on fuel companies that benefited from soaring energy prices during the U.S.-Iran-Israel war, seeking to recover part of the billions spent protecting consumers from higher fuel costs. The proposed levy would impose a 60% tax on excess profits generated between March and December 2026, during the closure of the Strait of Hormuz. The Polish Finance Ministry estimates the measure will raise around 4 billion zloty (~$1.1 billion). Under the pro

26d06/17⚠ war-conflict · 2/5

Flamingo Revolution: Stop Kushner Investment in Albania? “That would be crazy,” says the Prime Minister

Albanian Prime Minister Edi Rama explains in an interview why Trump's son-in-law's planned holiday island is a stroke of luck - and what Iran has to do with the protests.

◇ unclassifiedgermany · europe · iran

Car: BMW is the normal car company again

BMW will sell significantly fewer cars than forecast. In doing so, the new boss ends his own special position. This has probably now reached the last creditor. A comment.

Trump Signals Renewed Focus on Ukraine After Iran Deal Breakthrough

US President Donald Trump held a "very good meeting" with his Ukrainian counterpart, Volodymyr Zelenskyy, at the G7 summit in France, he told journalists on June 16, adding that "Russia should make a deal" while hinting that Europe's largest conflict since World War II might be moving up his priority list. US efforts to broker peace in the conflict that has raged since Russia's full-scale invasion of Ukraine in 2022 have largely stalled in recent months, particularly since US and Israeli air str

◇ unclassifiedusa · europe

Goodbye INDOPACOM: Pentagon reverts back to Pacific Command

The rechristening follows a series of other name changes inside the department under Defense Secretary Pete Hegseth.

26d06/17⚠ shipping-routes · 3/5

Falling Murban and Dubai Prices Open Arbitrage to U.S. and Europe

Crashing prices of Middle East’s key benchmark crudes in the wake of the U.S.-Iran deal have opened arbitrage for shipping oil from the Middle East to the United States and Europe, traders told Reuters on Wednesday. The earlier spot premiums of prices of the Dubai, Murban, and Oman crudes to swaps slumped into discounts this week after the market began pricing in an imminent reopening of the Strait of Hormuz following the tentative U.S.-Iran agreement. As a result of weakening Middle East crude

26d06/17⚠ war-conflict · 2/5

Mark Rutte: NATO chief confirms US cuts in force planning

The USA will have fewer military capabilities under NATO command in the future. NATO Secretary General Mark Rutte is trying to allay concerns.

◇ unclassifiedgermany · europe · usa

◇ unclassifiedgermany · europe · usa

Burden sharing: NATO chief confirms US cuts in force planning

The USA will have fewer armed forces under NATO command in the future. NATO Secretary General Mark Rutte is trying to allay concerns.

Investment: These four “momentum” stocks in the Dax deserve special attention

The long stock market boom makes stocks more expensive, but not all of them. Few companies are increasing their profits so much that their shares have become cheaper despite higher prices. An overview.

◇ unclassifiedmiddle-east · usa

CLNE to Deliver LNG Systems for 2 Power Projects in Puerto Rico

Clean Energy Fuels won contracts to design and install liquefied natural gas fuel systems for 2 power projects in Puerto Rico by PR Energy Partners and an unnamed international healthcare manufacturer.

◇ unclassifiedusa · europe · uk

Poland weighs joining X-BAT autonomous vertical-takeoff fighter program

The announcement comes as the Polish government is mulling plans to acquire up to 32 new fighter jets.

Current oil price: Oil prices are only recovering slightly after reaching a multi-month low

After Tuesday's sharp decline, oil prices are stabilizing. Brent is now only around nine percent above pre-war levels. Latest news in the oil price news blog.