Energy Markets

Russia announced?on Thursday it would provide active support to Cuba, despite efforts by the United States to 'intimidate' and tighten "sanctions" around the Communist island nation. The United States announced a murder charge against former president Raul Castro, Wednesday. This is a major escalation of Washington's war against Cuba. Maria Zakharova, spokeswoman for the Russian Foreign Ministry, told reporters that "we will continue to provide the most active support to a fraternal Cuban population during this extremely challenging period." "We reaffirm that we are fully united with Cuba. We condemn any attempts to grossly interfere in the internal affairs a...

Stocks rose on Thursday as some vessels resumed their passage through the Strait of Hormuz. Meanwhile, forecast-beating Nvidia results and a suspended workers' strike by Samsung Electronics boosted?shares of the chipmakers. The MSCI broadest Asia-Pacific share index outside Japan rose 1.2% to end a four-day losing streak. Meanwhile, the KOSPI soared over 4%. Brent crude futures rose 0.7% in Asia to $105.76 per barrel, retracing their declines following the passage of three supertankers through the Strait on Wednesday. Iran also consolidated control over the waterway. Wall Street saw the S&P500 rise 1.1% and the Nasdaq Composite rally 1.5%, after three...

Deep Fission announced on Wednesday that it is aiming for a valuation of about $1.66 billion when it makes its U.S. IPO. The company hopes to ride a wave of investor demand as the use and consumption AI-powered electricity increases. The Berkeley-based company wants to raise up to $156m by selling 6 million shares at a price of between $24 and $25 each. Deep Fission plans to go public as investors are re-engaging in nuclear power following years of public skepticism. Data?centers, artificial intelligence and data?centers have been driving investor interest. The Gravity Reactor is a small modular reactor (SMR),...

The massive merger between NextEra and Dominion Energy may hinge on the ability of the combined company to keep electricity costs down, even as it rushes in order to supply energy-hungry data centers that are driving up consumer prices. NextEra?said?buying Dominion would allow it to quickly build new generation in areas where others have lagged, and connect proposed data centres waiting to start operations. These companies will have to pass multiple reviews by local, state and national regulatory agencies who will evaluate the consumer impact of rising power bills in certain U.S. areas due to the demand for AI data...

The rise in borrowing costs and the artificial intelligence investment frenzy are closely related. A long-term productivity boom is boosting estimates of neutral rates, even though workers' share of GDP is declining. Some of the bond market volatility this month can be attributed to the Iran-related oil crisis and its immediate inflation impact. Stock markets are at record highs, but it's harder to explain them during an energy crisis. Goldman Sachs estimates that AI?capex will be $7.6 trillion in the next five-year period. This is the biggest driver for both bonds and stocks. Some circles remain opposed to the idea....

The global stock index dropped on Tuesday as 30-year U.S. Treasury rates rose to their highest level since 2007. Oil prices also eased, as investors digested recent headlines about U.S. negotiations with?Iran in order to end the conflict. U.S. president Donald Trump said on Tuesday that it may be necessary to strike again at?Iran. He also stated that he was an hour from ordering an assault before postponing. Trump said on Monday that he had put off a planned resumption after a new Iranian proposal to end the U.S. - Israel war. U.S. Vice-President JD Vance stated that the United...

Citi said on Tuesday that it expects Brent crude prices to rise to $120 per barrel in the short-term. It stated that oil markets undervalue the risks of a "prolonged supply disruption" and other "tail risks". The bank stated that its 'bull-case scenario' is that Brent prices will reach $150/bbl if the Strait of Hormuz gradually reopens during the third quarter. The oil prices fell on Tuesday, after Vice President JDVance stated that the U.S. had made progress with Iran in their talks. Neither side wanted to see military action resumed. Brent futures for the month of July?settled at $111.28...

Oil prices fell on Tuesday as investors digested headlines about U.S.-Iran talks to end the war. Donald Trump, the U.S. president, said on Tuesday that the United States might need to strike Iran again and that he was an hour from ordering an assault before postponing. Trump said on Monday that he had put off a planned resumption after a new Iranian proposal to end the U.S. - Israel war. U.S. Vice-President JD Vance stated that the United States has made significant progress in its talks with Iran and that neither side would like to see the military campaign resumed....

U.S. bond rates?rose on Tuesday as major U.S. indexes declined. Oil prices also eased following the announcement by U.S. president Donald Trump that he had paused an attack against Iran and referred to "a good chance" for a nuclear agreement. Trump said on Monday that he halted the planned resumption of attacks against Iran in order to give time to negotiate a peace deal after Tehran sent Washington a new proposal. Trump said that there was a'very good chance' the U.S. would reach an agreement with Iran in order to prevent Tehran obtaining a nuke weapon. The yields on U.S....

The United Arab Emirates (UAE) said that six drones were launched from Iraq against them in the past 48 hours, including one 'that caused a fire at a nuclear plant in the Gulf State on Sunday. In a press release, the UAE's Defence Ministry said that all drones except one had been intercepted. The ministry said that three drones?in all?were targeting the Barakah Nuclear Power Plant which is?the Arab World's first commercial nuke power station. The drone that breached the UAE's defenses struck an electric generator outside of the inner perimeter, according to the?ministry. The UAE's Federal Authority for Nuclear...

Data released on Tuesday showed that the annual inflation rate in Canada increased to 2.8% from 2.4% in March. This was largely due to a sharp rise in gasoline prices following the 'Iran War, which pushed up global crude oil prices. The consumer price index has reached 2.8% for the first time since almost two years. This shows how quickly the economic effects of the war in Iran that began on February 28 have been felt. The inflation rate was lower than analysts expected as the prices of travel, tours, certain accommodation costs and furniture fell on an annual basis...

Mali?Hightower found a toy in someone's garbage to solve the problem of high gas prices. The handyman, 30, from Ellenwood in?Georgia, stuck a broken pink Power Wheels Barbie Dream Camper, a battery operated toy car that was less than four feet high, with a two gallon, one piston engine. The handyman, 30, from Ellenwood,?Georgia, stuck a two-gallon, one-piston engine from a power washer into 'a broken pink Power Wheels Barbie Dream Camper -............... he was off to the store, with his knees up at his ears and....... Filling up his Mercedes-Benz convertible 1996 costs him about $90. Hightower said, "That's...

The oil prices recovered on Thursday, after two days of losses. This was due to supply concerns arising from the uncertainty surrounding the end of the Iran War and the U.S. inventory withdrawal which raised fears about the depletion of global stocks. Brent crude futures grew 81 cents or 0.77% to $105.83 a barrel by 0055 GMT. U.S. West Texas intermediate futures rose 97 cents or 0.99% at $99.23. Both benchmarks fell more than 5.6% after U.S. president Donald Trump announced that negotiations with Iran are in their final stages. He also threatened to launch further attacks against Iran if...

Scott Irlbeck crouched in a field of stunted plants of wheat in a parched stretch in West Texas, and put his hand in a crack large enough to swallow it. Irlbeck had planted a crop last autumn that barely grew due to the lack of rain. Now he hopes that his insurance adjuster declares it a complete loss, so he won't have to spend money on expensive fuel next month in order to harvest the crop. The Iran war has led to a rise in fuel prices and the cost of commercial fertilizer. This is making it harder for farmers...

The 'head of a 'industry association' said on Wednesday that Japanese oil re-finers would be able to obtain enough?substitute petroleum products and crude to replace Middle Eastern supply?throughout the summer. Shunichi Kito is the president of the Petroleum Association of Japan. He said that U.S. Crude has become the main replacement while efforts are made to obtain crude from Saudi Arabia, the UAE, via routes that bypass the Strait of Hormuz. Some Japanese companies source crude oil from Latin America including Mexico, Ecuador, Venezuela and Alaska, as well from Russia's Sakhalin-2 and Alaska. Kito explained that "we are responding by...

Their leaders said that?South?Korea? and Japan?have agreed to expand their cooperation in the areas of LNG and crude oil supplies, including stockpiling, and swapping petroleum products. After a meeting held in Lee Jae Myung's hometown, Andong, the President and Prime Minister said they would intensify coordination to stabilize?energy supply and expand their cooperation with other Asian countries as disruptions in supply due to war in the Gulf are straining their import-dependent economy. In a joint press statement, Lee stated that "recent instability in energy markets and supply chains stemming from Middle East situation has further highlighted the need for closer...

The U.S. Department of Energy reported on Monday that a'record 9.9 millions barrels of oil were shipped from the Strategic Petroleum Reserve in the United States last week. This pushed the total volume of the U.S. Government's emergency stockpile to 374 million barils, the lowest level since July 2024. The Trump administration wants to?release 172 million barrels of oil from the reserve, as?part a global deal to calm down the oil markets after prices?spiked due to the U.S. and Israel's war with Iran which began almost three months ago. In April, the?Energy Department offered approximately?92.5 millions barrels of?sweet crudes and...

A source familiar with this decision confirmed on Monday that the U.S. Treasury would extend its waiver of sanctions on Russian'seaborne oil', which expired 'on Saturday. Several countries had asked for a longer period to purchase it. Source: The waiver, which will last for another 30 days, was requested by several poor countries that were cut off from Gulf Oil supplies due to the Iran War and the closing of the "Strait of Hormuz". Source declined to identify the countries that requested the extension. This is the second time that the Treasury has let the sanctions waiver lapse, and then...

London's High Court ruled Friday that South Sudan cannot enter into new?oil?prepayment contracts until it clears outstanding debts with commodity??trading???house BB Energy. A second hearing will be held on June 5th. BB Energy began a legal challenge last year through the London courts against South Sudan for allegedly failing to deliver oil purchased under prepayment agreements in 2024 or 2025. The court document read by states that a second hearing will be held on June 5 to discuss?the decision, since the first hearing was conducted?without the presence of defence lawyers. The penal notice states that South Sudan must not accept...

The CEO of Valterra Platinum in South Africa said that despite the uncertainty caused by the U.S./Israeli war against 'Iran', they were able to maintain healthy stock levels for critical operational inputs such as diesel, lubricants and other 'critical' items. It is essential that mines have a stable supply of lubricants, explosives and diesel. These disruptions, especially during geopolitical tensions which can disrupt global fuel supplies, can lead to operational delays and higher costs. Craig Miller said on the sidelines London Platinum Week that he had engaged with his local suppliers extensively to ensure they were supplying enough diesel, lubricants...

There is a cooking gas shortage in India. Californian motorists pay $6 per gallon for gasoline. Both are symptoms of the biggest ever disruption in energy supply. The two are directly related and show the impact of the U.S./Israeli war on Iran. The near-closure of 'Strait of Hormuz by Iran has caused global oil trade to be in chaos, and cut importers off from?around a fifth of global oil supplies that crossed the waterway prior to the war. Oil buyers have been forced to burn down their stockpiles to deal with the global fuel shortage. The pain is being spread...

Oil prices rose more than 1% as a result of?President Donald Trump's statement that China wanted to buy oil from?the United?States. Also, concerns about ship attacks and securing?ships remained despite Iran claiming 30 vessels passed through the Strait of Hormuz. Brent crude oil futures climbed $1.17 or 1.11% to $106.89 a bar by 0252 GMT. U.S. West Texas intermediate futures rose by $1.10 or 1.09% to $102.27. Trump said in a Fox News interview that he would be less patient with Iran and urged Tehran to make a deal with Washington. On Thursday, a ship reported to be seized by...

The?U.S. has?dramatically reduced Iran's ability to threaten its neighboring countries and U.S. interest. A senior U.S. Admiral stated on Thursday that the bombings have slowed down Tehran's defence industry by 90%. Admiral Brad Cooper of U.S. Central Command emphasized 'the tactical success of the military campaign he led against Iran and said that the war has dramatically reduced the danger posed by Iran to the Middle East. Cooper refused to directly address the reports of and other news organizations that Iran had significant drone and missile capabilities. These reports cited U.S. Intelligence sources. Cooper, speaking to a U.S. Senate Committee,...

On Thursday, the Bank of Spain said that it is carefully calibrating any potential restrictions on mortgage lending to improve the resilience of both households and banks while not increasing rent prices. The 'authority' is developing a framework which would enable it to activate macroprudential limitations on lending standards when necessary to prevent risky loans. It estimated in its semi-annual report on financial stability that these measures will shift a part of the housing from ownership to rental, leading to likely lower house prices. It warned that the measures could have a knock-on effect on other variables, such as the...