Fossil Fuels

Wall Street's major indexes fell on Tuesday, as the Israel/Iran conflict entered its 5th day. This weakened investor confidence globally ahead of the Federal Reserve’s upcoming decision regarding monetary policy. The conflict between Israel and Iran, which began Friday with Israel attacking Iran's nuclear facility, has caused concern that it could cause bottlenecks in oil exports to the oil-rich Middle East. Wall Street believes that the situation will be contained. "The market is paying attention, but there is no panic at the moment," said Larry Tentarelli of Blue Chip Daily Trend Report, chief technical analyst. Oil prices remain high due...

Wall Street's major indexes are on course for a lower opening on Tuesday, as the Israel/Iran conflict enters its fifth day. This has dented global investor confidence in advance of the Federal Reserve’s upcoming decision on monetary policy. The air war between Israel and Iran, which began Friday with Israel attacking Iran's nuclear facility, has raised fears that it could cause bottlenecks in oil exports to the oil-rich Middle East. Wall Street believes that the situation will be contained. "The market is paying attention, but there is no panic at the moment," said Larry Tentarelli of Blue Chip Daily Trend...

U.S. Solar stocks fell in premarket trade on Tuesday, after a Senate committee proposed to phase out solar and wind credits by 2028. This proposal was part of President Donald Trump's tax-and spending bill. Enphase Energy, a manufacturer of solar inverters, was one of the largest decliners among S&P 500 companies. Its stock fell 20.9% from $36.35 to $36.35. SolarEdge Technologies and Sunrun, both solar panel suppliers, each fell more than 30%. First Solar fell 17.3%. A Senate committee circulated a draft bill that amends Trump's 'One Big, Beautiful Bill Act', which the House narrowly approved last month. Pavel Molchanov,...

U.S. index futures fell on Tuesday, as the Israel/Iran conflict entered its 5th day. This dampened global investor confidence in advance of the Federal Reserve’s upcoming decision regarding monetary policy. The air war between Israel and Iran, which began Friday with Israel attacking Iran's nuclear facility, has raised fears that it could cause bottlenecks in oil exports to the oil-rich Middle East. Energy stocks in the United States rose in premarket trade as oil prices continued to rise due to uncertainty. Chevron, Exxon, Occidental Petroleum, and Devon Energy all gained 0.7%. The rise in oil prices coincides with the Fed's...

U.S. index futures fell on Tuesday, as the conflict in the Middle East entered into its fifth day. This dampened global investor confidence before the Federal Reserve’s upcoming policy meetings. The air war between Israel and Iran, which began Friday with Israel attacking Iran's nuclear facility, has raised fears that it could cause bottlenecks in oil exports to the oil-rich Middle East. Oil prices remain high due to uncertainty, and this has led to a rise in the premarket price of U.S. energy shares. Chevron shares and Exxon stock both rose by nearly 1%. The rise in oil prices coincides...

The sudden departure of Luca de Meo as CEO of Renault has sparked a search for a successor. Analysts have mentioned longtime insider Denis Le Vot, and Maxime Picat from Stellantis rival as candidates to continue the French carmaker's turnaround. Investors worried about Renault's future with de Meo gone, pushed the shares down by up to 8%. This was the biggest percentage drop in a single day since February 2022. Kering shares, where de Meo will be CEO, rose. Picat, the head of global procurement and supply chains for Stellantis, was in the running to be the CEO at the...

MEG Energy, a Canadian oil company, urged Monday its shareholders to reject Strathcona Resources' hostile takeover bid of nearly C$6 Billion ($4.42 Billion), calling it inadequate and not in the best interests of their shareholders. The board launched a review of strategic alternatives to MEG's plan to become a separate company. Strathcona Resources, a Canadian oil and natural gas company, announced in May that it would launch a hostile bid to take over MEG Energy. Strathcona Resources valued MEG Energy's shares at C$23.27 each. MEG's closing price was C$25.71. MEG later advised its shareholders not to take any action regarding...

Intercontinental Exchange, parent company of the New York Stock Exchange, announced on Monday that it would list both on NYSE Texas. This will add to a long list of listings at the bourse in an effort to stay ahead of its competition. NYSE Texas opened its doors in March. It offers a new trading and listing venue for businesses attracted by Texas' business-friendly environment. According to ICE, in the first three month, 10 companies have listed both on the Dallas-based exchange. These include oilfield services company Halliburton and Trump Media & Technology Group, the parent company of Truth Social, as...

Abbas Araqchi, the Foreign Minister of Iran, said that Iran did not want to see its conflict with Israel spread to its neighbouring countries, unless it was forced. He added that its response to Israel had been in self-defence. Araqchi stated that Tehran was responding to an aggression from abroad, and if the aggression stopped, Iranian responses would cease. The Foreign Minister said that the Israeli attacks on the South Pars offshore gas field Iran and Qatar share were "a blatant act of aggression" He said that dragging the conflict into the Persian Gulf was a strategic error, with the...

Wall Street's major indexes dropped on Friday, after Israel's deadly attack on Iranian nuclear installations inflamed Middle East tensions and battered the risk sentiment in global markets. Israel warned that these large-scale attacks were just the beginning of a long-term operation to stop Tehran from developing an atomic bomb. Iran has promised to respond harshly. Prices of crude oil soared by nearly 7% amid fears that the conflict in the Middle East could disrupt the supply. Exxon, a major U.S. energy company, rose 1.7%. Fuel costs may rise if there are supply bottlenecks. Delta Air Lines fell 3.7%, United Airlines...

The West's energy watchdog announced on Friday that it is ready to release its oil reserves if the market experiences shortages as a result of Israel's attack against Iran. This statement was criticized by OPEC, which claimed the statement only created fear on the market. In recent years, the Organization of Petroleum Exporting Countries (OPEC), which represents some of the top oil producers in the world, and the International Energy Agency (IEA), representing oil consumers, have clashed over global oil demand trajectory and the pace of the transition to a clean energy economy. Fatih Birol, the IEA head, said that...

Donald Trump, the U.S. president, expressed his frustration Thursday over rising oil prices amid concerns about supply due to a potential conflict in Middle East. The global and U.S. prices of oil both rose by more than 4% to their highest level since early April on Wednesday before dropping a little on Thursday. Trump stated at a White House gathering that he did not like the fact that oil prices had risen a bit in the past few days. "It will keep going down, right?" We have the inflation under control. Prices rose on news that the U.S. is moving...

China's President Xi Jinping has signed a treaty that will strengthen ties with Central Asian countries. Beijing is looking to deepen its cooperation with this resource-rich area in the areas of trade, energy, and infrastructure. Beijing has intensified its efforts since Russia invaded Ukraine to strengthen economic ties with Central Asian countries, which are traditionally in Russia's spheres of influence. This is due to their strategic location and abundant energy resources. Xinhua, the official news agency of China, reported that at a regional summit held in Astana, Kazakhstan's capital, Xi hailed a landmark by signing a treaty establishing "permanent friendship...

John Irish KANANASKIS (Alberta), June 15, 2015 - Instead of creating economic insecurity through trade tensions between the United States and Europe, the European Union's President Antonio Costa stated on Sunday. Costa, speaking to reporters alongside European Commission President Ursula von der Leyen before a G7 gathering in the Canadian Rockies was a chance to discuss "some problems" among allies and friends. Costa, in response to Washington's shift of its foreign policy away from China, said that the main issue between Europe, and the United States, is European defence. We should concentrate on this. "Since this is the primary issue,...

Ursula von der Leyen, President of the European Commission, said that more pressure should be applied to Russia in order to secure a ceasefire. She urged G7 nations intensify sanctions to achieve this goal. The leaders of the largest industrial countries are meeting in Canada’s Rockies, along with European nations. They want to keep the conflict in Ukraine on the minds of U.S. president Donald Trump, despite the fighting between Israel and Iran taking place in the Middle East. The European Union has decided to adopt new sanctions against Russia. However, they have not been able to convince Trump, who...

Investors were nervous ahead of the markets' reopening on Sunday evening. The risks ranged from increased prospects of a wide Middle East conflict to U.S. protests against Donald Trump, which threatened further domestic chaos. Israel and Iran have launched new attacks against each other on Sunday. Prime Minister Benjamin Netanyahu said that Israeli strikes will intensify, as Tehran has called off the nuclear talks which Washington had argued were the only way to stop the bombing. Yemen's Houthis, who are aligned with Iran, also joined the fray. The price of oil rose by 7% Friday as Israel and Iran exchanged...

According to BlackRock's Thursday investor day presentation, Temasek is part of a consortium backed Microsoft, BlackRock, and the tech investment company MGX, which aims to expand and invest in artificial intelligence infrastructure. Slides showed that the Singapore state investment firm has joined AI Infrastructure Partnership. This group also includes BlackRock Global Infrastructure Partners. AIP was formed in September, with the goal of investing more than $30 billion initially in AI-related project. It is one of world's biggest efforts to invest data centres and energy infrastructure needed to power AI apps such as ChatGPT. The aim is to mobilize up to...

The major stock markets in the Gulf rose early on Wednesday, in line with Asian stocks. This was due to signs of progress between the U.S. Both countries' top officials said that they had reached an agreement on a framework for resuming their trade truce and removing China's export restriction on rare earths. The broadest MSCI index of Asia-Pacific stocks outside Japan increased by 0.5%. Saudi Arabia's benchmark stock index, which was traded after a break of four sessions, advanced by 1.2%. This was led by an increase of 1.7% in Al Rajhi Bank as well as a rise of...

The oil prices in Asian trade fell on Wednesday, as the markets assessed the results of U.S. - China trade talks that have yet to be reviewed and analyzed by President Donald Trump. Weak Chinese demand for oil, along with OPEC+'s production increase, weighed on the market. Brent crude futures fell 19 cents or 0.3% to trade at $66.680 per barrel. U.S. West Texas intermediate crude dropped 16 cents or 0.3% to $64.82 as of 0318 GMT. U.S. officials and Chinese officials have agreed on a framework for re-establishing their trade truce and resolving China's export limitations on rare earth...

Tuesday, the Sudanese Army accused the forces of eastern Libyan commander Khalifa Hastar of attacking Sudanese borders posts. This is the first time the army has directly accused its northern neighbour of involvement in the two-year conflict. Multiple foreign countries have been drawn into the war between Sudan's military and the paramilitary Rapid Support Forces (whom the military has also accused of being involved), while international efforts to bring about peace so far have failed. Early in the war, Sudan accused Haftar from eastern Libya of supporting RSF through weapons deliveries. The Sudan has accused Haftar and his ally, the...

The oil prices rose on Tuesday, as traders awaited the outcome of U.S. China talks which could ease trade tensions and increase fuel demand. Brent crude futures rose 12 cents a barrel to $67.16 at 0041 GMT. U.S. West Texas Intermediate Crude was trading at $65.42, up 13 cents after reaching its highest level since April 4, earlier in the session. Brent oil prices rose to $67.19 on Monday, their highest level since April 28. This was boosted by the prospect of a U.S. China trade agreement. The U.S. and China trade talks will continue in London for a second...

Saudi Arabia's economy grew more than anticipated in the first quarter 2025, according government data estimates. Lower oil prices had a less significant impact on the economy than originally forecast. The Saudi General Authority for Statistics released a flash estimate of 2.7% in May. This was a significant improvement over the initial estimates. Monica Malik is the chief economist of Abu Dhabi Commercial Bank. She said that "the upward revision" was due to both a smaller contraction in the oil sector each year and a stronger growth in private sector. Initial estimates showed a contraction of 1.4%. The non-oil sector...

Oil prices fell on Friday, but are on track to gain their first weekly increase in three weeks following the resumption of trade talks between U.S. president Donald Trump and Chinese President Xi Jinping. This has raised hopes for stronger growth and demand in two of the world's largest economies. Brent crude futures dropped 19 cents or 0.3% to $65.15 per barrel at 0441 GMT. U.S. West Texas Intermediate Crude lost 20 cents (0.3%), to $63.17 after having gained around 50 cents Thursday. Both benchmarks are on course to end the week higher, after two weeks of falling. Brent is...

The oil prices fell in the early hours of Thursday's trading after an increase in gasoline and diesel stocks in the United States and Saudi Arabia lowering its July crude prices for Asian buyers. Brent crude futures dropped 21 cents or 0.3% to $64.65 per barrel at 0047 GMT. U.S. West Texas Intermediate Crude lost 29 cents or 0.5% to drop to $62.58. The price of oil closed about 1% lower Wednesday, after data revealed that U.S. gasoline stocks and distillate inventories grew more rapidly than expected. This was due to a weaker demand for the top economy in the...