Energy Markets

After months of accusing Maduro of drug trafficking and illegitimacy, the United States announced that it had attacked Venezuela on Saturday and captured its longtime President Nicolas Maduro, marking a 'dramatic escalation of geopolitical pressures. Donald Trump stated in a Truth Social posting that the United States of America had successfully conducted a large-scale attack against Venezuela and its leader, Nicolas Maduro. He was captured, along with his spouse, and flown out of the country. Washington hasn't made a similar direct intervention in Latin America in the past 25 years, since it invaded Panama in 1989 in order to remove...

After months of accusing Maduro?of drug running and illegitimacy, the United States announced that it had attacked Venezuela and captured its long serving President Nicolas Maduro, marking a dramatic increase in geopolitical pressures. Donald Trump stated in a Truth Social posting that "the United States of America has successfully carried out a massive strike against Venezuela, and its leader President Nicolas Maduro.?He, along with his spouse, have been captured and flown outside the country." Washington hasn't intervened in Latin America in this way since 1989, when it invaded Panama to remove military leader Manuel Noriega over similar accusations. Trump also...

Here are some facts about Venezuela's oil industry, which was captured on Saturday by U.S. troops, according to U.S. President Donald Trump. RESERVES Official data indicates that Venezuela has the largest oil reserves in the world, but its crude production remains at a fraction of its capacity due to mismanagement and lack of investment, as well as?sanctions. According to the London-based Energy Institute, Venezuela has about 17% or 303 billion barrels of global reserves, which is ahead of OPEC leader Saudi Arabia. According to the U.S. Department of energy, Venezuela's heavy oil reserves, located in Orinoco, are expensive to produce...

After months of accusing him of drug trafficking and illegitimacy, the United States announced that it had attacked Venezuela on Saturday and captured its longtime President Nicolas Maduro, marking a dramatic increase in geopolitical tensions. In a Truth Social posting, Donald Trump stated that "The United States of America successfully carried out a large-scale strike against Venezuela and the leader of Venezuela, President Nicolas Maduro. He and his wife were captured and flew out of Venezuela." Washington hasn't intervened in Latin America in this way since the invasion of Panama to remove military leader Manuel Noriega in 1989, over allegations...

The dollar strengthened on Friday, 2026's first trading day, as U.S. Treasury rates rose and U.S. stock prices oscillated. The S&P 500, Dow, and other major U.S. indexes sawsawed throughout the session. However, both the Dow and S&P 500 posted gains to snap their four-day loss streaks. The Nasdaq, which is dominated by technology and related megastocks, posted a nominal decline. The three indexes all registered losses during the week-long holiday. Jed Ellerbroek is the portfolio manager of Argent Capital, St. Louis. He said that today was a holiday day with lower volumes and fewer people engaged in trading. "Value...

U.S. stock prices fell after the opening bell of Friday as the Nasdaq held on to gains due to the strength in semiconductors and precious metals continued their rally. Investors ended the week by beginning the new year with all three major U.S. indices reversing their gains. All three indexes are on course to lose money for the holiday-shortened week. Thomas Martin, Senior Portfolio Manager at Globalt, Atlanta, said: "When you turn over a new page, as a money manager you wait to see what the vibe will be for the year ahead. "The narrative doesn't really change." "So far,...

Oil prices rose marginally on the first trading day in 2026, after registering their largest annual loss since 2010. This was due to Ukrainian drones targeting Russian oil facilities and a U.S. trade blockade that impacted Venezuelan exports. Brent crude futures rose 22 cents Friday to $61.07 per barrel at 0833 GMT, while U.S. West Texas intermediate crude rose 22cents to $57.64. On New Year's Day, Russia and Ukraine exchanged accusations of attacks against civilians despite the talks that were overseen by U.S. president Donald Trump. The talks are meant to bring an end to a nearly four-year war. Kyiv...

The oil prices rose on the first trading day in 2026, after they had suffered their worst annual decline since 2020 last year. This was due to Ukrainian 'drones' targeting Russian oil installations and a U.S. blockade that impacted Venezuelan exports. Brent crude futures rose 14 cents to $60.99 per barrel on Friday by 1:46 GMT. U.S. West Texas intermediate crude crude was up 14 cents at $57.56 per barrel. Russia and Ukraine traded accusations of attacks on civilians New Year's Day, despite intensive talks overseen?by U.S. president?Donald Trump aimed at ending the nearly four-year old?war. In recent months, Kyiv...

Elon Musk announced on Tuesday that his artificial intelligence startup xAI purchased a 'third building' to expand its infrastructure. The goal is to increase xAI's?"training capacity" to almost 2 gigawatts of compute?power. xAI is stepping up its efforts to train more advanced models in order to better compete with the industry leaders OpenAI ChatGPT and Anthropic Claude. Colossus is the company's supercomputer in Memphis, Tennessee, which it claims to be the world's largest. Musk posted on?X that "xAI bought a third property called MACROHARDRR", without revealing its location. This term could be a play off Microsoft's name. The 'Information', which...

Tuesday's oil prices were unchanged after a rise of over 2% the previous day. Investors sought clarification on Ukraine peace negotiations to gauge potential supply disruptions. Brent crude futures, for delivery in February, expiring on Tuesday, fell 2 cents to $61.92 per barrel at 0314 GMT. The March contract, which is more active, was down 5 cents at $61.44. West Texas Intermediate crude oil in the United States fell 5 cents to $58.03. Brent and WTI benchmarks closed more than 2% higher the previous session, after Moscow accused Kyiv that it was targeting President Vladimir Putin's residence. This stoked fears...

The oil prices fell a bit early Tuesday morning after they had risen more than 2% the previous day. This was partly due to spillovers from a drop in precious metals, while escalating tensions between Russia and Ukraine left markets dealing with supply disruption concerns. Brent crude futures expiring?on? Tuesday were down 21 cents or 0.3% at $61.73 per barrel by 0150 GMT. The March contract, which is more active, was down 19 cents (0.3%) at $61.30. U.S. West Texas Intermediate Crude fell 20 cents or 0.3% to $57.88. Both contracts closed more than 2% above the previous session, after...

Investors weighed Middle East tensions which could disrupt supply and a major obstacle remains in the Russia-Ukraine talks. Brent crude futures were up?56 -cents or 0.92% to $61.20 a barrel at 0236 GMT. U.S. West Texas Intermediate crude rose 51 cents or 0.9% to $57.25. Both benchmark prices dropped more than 2% Friday, as investors considered a global glut of supply and the possibility that a Ukraine peace deal could be reached ahead of weekend discussions between U.S. president Donald Trump and Ukrainian President Volodymyr Zelenskiy. The geopolitical tensions are still high, and Russia and Ukraine continue to strike each...

After months of accusing Maduro of drug trafficking and unlegitimacy, the United States announced that it had attacked Venezuela on Saturday and captured its longtime President Nicolas Maduro, marking a dramatic increase in geopolitical pressures. In a Truth Social posting, Donald Trump said: "The United States of America successfully conducted a large-scale attack against Venezuela and its president, Nicolas Maduro. He and his wife were captured and flew out of the country." Washington hasn't intervened in Latin America in this way since 1989, when it invaded Panama to remove military leader Manuel Noriega over similar accusations. Trump said in a...

Two sources familiar with the operations of PDVSA, Venezuela's energy company, said that the country's oil refinery and production?were running normally on Saturday. Donald Trump, the U.S. president, said that U.S. troops had captured Nicolas Maduro after months of pressure on him regarding accusations?of drug-running, and illegitimacy at power. One source said that the port of La Guiara, near Caracas, which is one of Venezuela's largest, but not one used for oil exports, had suffered serious damage. In December, Trump announced a ban on oil tankers from entering or leaving Venezuela. The U.S. also seized two cargoes containing Venezuelan crude....

Late Wednesday, Peru issued an urgent decree approving the restructuring of?state owned oil firm Petroperu and allowing private investments in key company assets. According to the decree signed by?Peruvian President Jose Jeri, the company may be divided into one or several asset blocks. This includes the Talara refinery which the company has spent $6.5 billion upgrading. Petroperu also operates or has concessions on six crude oil blocks that have limited production. It has a fuel marketing and distribution chain. The Peruvian ministry of energy and mines stated that the decree is intended to "?ensure compliance with financial obligations through the...

The price of oil rose a little on Friday, after the U.S. increased economic pressure on 'Venezuelan crude oil exports and conducted airstrikes on Islamic State militants in northwest Nigeria on the request of 'Abuja. Brent crude futures increased by 6 cents or 0.1% to $62.30 a barrel at 0456 GMT. U.S. West Texas Intermediate crude (WTI), also at $58.41, was up 6 cents. Venezuela and Nigeria both produce a lot of oil. Nigeria's oilfields, which are located mainly in the south of the nation, were also affected by the airstrikes. The White House has ordered its military to concentrate...

The oil prices remained stable on Tuesday, after rising by more than 2% the previous session. The U.S. announced that it may sell the Venezuelan crude they seized. Meanwhile, Ukraine's attacks against Russian vessels and piers increased fears of supply disruption. Brent crude futures fell by 6 cents or 0.1% to $62.01 a barrel at 0440 GMT. U.S. West Texas Intermediate crude (WTI), which is a blend of West Texas and Texas Intermediate crudes, fell 9 cents or 0.16% to $57.92. Brent's daily performance was the best in two months, and WTI rose to its highest level since November 14....

Union leaders and executives have said that a dispute over payment deductions involving about 50,000 retired Petrobras workers may prolong the strike at Brazil's state-owned oil company. The central issue in the strike that has now lasted a week is resolving the deduction of around 20% from 'pensioners' pay slips by the largest pension funds of the company. A company source who spoke on condition of anonymity said that the solution was neither simple nor cheap. The impact, he added, would be in the billions. Union leaders say that deductions are due to a shortfall on the accounts of the...

U.S. crude oil futures were a dollar higher in Asian trading Thursday after President Donald Trump imposed a 'blockade' on tankers entering or leaving Venezuela. Most exports remained on hold. As of 1109 GMT, the West Texas Intermediate contract had risen 98 cents or 1.75% to $56.92 a barrel. Trump had on Tuesday ordered a 'blockade' of all sanctioned tankers entering or leaving Venezuela, calling the administration of President Nicolas Maduro a foreign terrorist group. Sources said most Venezuelan ?exports remained On Hold Wednesday, due to the 'blockade' even though Venezuelan state oil firm PDVSA had resumed loading crude and...

South African miners have increased thermal coal exports after Colombia, the top supplier, banned shipments to Israel in August. Data from Kpler LSEG, and DBX Commodities revealed this. Colombia and South Africa are among Israel's loudest critics. The South American nation issued a presidential decree that enacted the export ban, after accusing Israel for killing tens-of-thousands in Gaza, including children. South Africa accused Israel of genocide before the International Court of Justice. Israel's Prime Minster Benjamin Netanyahu rejected this claim. Data from Kpler shows that Colombian coal exports into Israel fell to zero during the three-month period ending November after...

Venezuela's regional partners voiced their support for the Venezuelan government at a summit held?on Sunday. They condemned the Trump administration's seizure last week of an oil tanker. The US captured the Skipper tanker last Wednesday off Venezuela's coastline, marking the first time that Venezuelan oil has been taken by American forces since sanctions were imposed on Venezuela in 2019. Support for President Nicolas Maduro at a virtual televised meeting of the leftist ALBA group of Caribbean and Latin American nations, occurred during an escalation in a U.S. buildup of military forces in the southern Caribbean. Cuban President Miguel Diaz-Canel stated...

Oil prices were at a two-week high on Monday, as investors waited for a Federal Reserve rate cut to boost economic growth and increase energy demand. They also viewed geopolitical risk that could threaten oil supplies coming from Russia and Venezuela. Brent crude futures increased by 4 cents or 0.06% to $63.79 per barrel at 0008 GMT. U.S. West Texas Intermediate Crude was up $7 cents or 0.12%, and stood at $60.15 per barrel. Both contracts closed the Friday session at their highest level since November 18. LSEG data shows that the markets are pricing in a 84% chance for...

OPEC+ said that members of the group will be assessed annually for their oil production capacities starting in 2020. This assessment is to be used by 2027. The goal is to align output quotas with each country's actual capacity. The agreement was reached on Sunday, which is a significant step forward in resolving a thorny problem for OPEC+ that has plagued the group for many years. It will also boost its credibility with investors and other oil market participants. Some members, such as the United Arab Emirates, have increased their production capacity and want to increase their targets. Others such...

In just a few short years, China's electric vehicle industry has captured more than half of its domestic market. This has led to a decline in sales for gasoline-powered cars from the once dominant global automakers. Foreign players were not the only losers. Chinese automakers who had been in business for decades also saw their sales plummet and responded by flooding foreign markets with fossil fuel vehicles that they couldn't sell domestically. Despite the fact that Western policymakers are protecting their markets by imposing tariffs on China's heavily subsidized EVs to protect them, U.S. automakers and European automakers will face...