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US agencies monitor drinking water for microplastics and pharmaceuticals
On Thursday, the U.S. Environmental Protection Agency (EPA) and the Department of Health and Human Services (HHS) announced that they would monitor the impact of microplastics and pharmaceuticals on water. This is the first step in assessing the health risks associated with these substances and forming new policies. The announcement was hailed as a victory for President Donald Trump’s "Make America Health Again" agenda by EPA Administrator Lee Zeldin, and Health Secretary Robert F. Kennedy, Jr., whose priorities included reducing childhood vaccinations and promoting healthy foods in the new dietary guidelines. The EPA has now included microplastics, pharmaceuticals, and other contaminants on its sixth Contaminant Candidates List. This means that they will be tested and monitored in accordance with the 'Safe Drinking Water Act, and they will receive funding for their research. "We cannot treat what we can't measure." Kennedy told a press event at the EPA's headquarters that we cannot regulate something we do not understand. Zeldin, the EPA, and MAHA activists have been criticized for not addressing their concerns. This includes microplastics and failing to apply more stringent pesticide rules. "For too long, Americans were ignored as they raised the alarm regarding plastics in drinking water. Zeldin stated at the press event that this will no longer be an issue. Supporters of RFK Jr. and MAHA helped elect Donald Trump as President in 2024. MOVE FOLLOWS PERIOD OF PETITION Seven U.S. Governors, including those from New Jersey and Michigan, as well as more than 175 environmental and public health groups filed a petition late last year asking the EPA to include microplastics on its list of contaminants that should be monitored. The list is updated five times a year. Microplastics, or microscopic plastic pieces, have been found everywhere. From inside the human body to drinking water and even in the depths of oceans. Several studies have linked microplastics to cancer or reproductive harm. Plastic industry groups dismissed these'studies' and claimed that the science is still not settled regarding the harms caused to microplastics. Judith Enck of Beyond Plastics, a former regional administrator at the EPA, called this "an important step." Kimberly 'Wise White', vice president for regulatory and scientific affairs of the American Chemistry Council (which represents?plastic manufacturers), said that the group supports scientifically-driven monitoring of water drinking for microplastics. Kennedy pledged that he would tackle plastic pollution, including its manufacture, when he ran for the Democratic nomination in 2024. Later, Kennedy endorsed Republican candidate Trump, whose government warned last year that countries should oppose any attempts to cap plastic production as part of a potential UN agreement to limit plastic pollution. Human waste and improper disposal of pharmaceuticals can cause them to enter the water system. The EPA also plans to release benchmarks on human health for 374 pharmaceuticals that will be monitored. Reporting by Valerie Volcovici, Washington; Additional reporting and editing by Leah Douglas
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Oil prices rise as stocks fall on Iran War Worries
Oil prices surged Thursday, and equity markets around the world fell after U.S. president Donald Trump's remarks dashed expectations of a "quick resolution" to the Iran War. Still, European'shares' trimmed their losses and U.S. bonds clawed back any gains on rekindled hopes of a reopening of Strait of Hormuz. Iran's foreign ministry announced that it was working on a protocol to monitor the traffic through the Strait of Hormuz, which is used by a fifth or global oil and LNG. Brent crude jumped more than 7% per barrel after Trump stated in a prime time address on Wednesday, that the United States will hit Iran "extremely" in the next few weeks and "bring [them] back to the Stone Ages." Stocks on Wall Street were lower at the end of the trading week due to the Good Friday holiday. Gold prices dropped as the U.S. Dollar gained. The yields on government bonds jumped as central banks raised interest rates or held them at the same level in anticipation of a spike in inflation. The dollar index (which measures the greenback versus a basket of currencies, including the yen, the euro and others) rose by 0.48%. Felix-Antoine VezinaPoirier, BCA Research, said: "During the past 48-hours, Tehran and Washington exchanged a cacophony, with some statements suggesting a rising likelihood of de-escalation." GeoMacro strategists provide a simple guideline for weighing headlines that are volatile: stick to the facts. Shipping through Hormuz increased over the past few days. Second, Iran has deliberately shifted its focus "away from GCC targets (Gulf Cooperation Council), toward Israeli ones." WALL STREET POINTS WERE LOWER The MSCI index of global stocks fell by 0.59%, to 990.80. Wall Street saw the Dow Jones Industrial Average fall 0.39% to 46383.81, S&P 500 decline 0.23% at 6,560.04 while the Nasdaq Composite fell 0.28% at 21,780.3. In an address that was closely watched on Wednesday, Trump stated that U.S. attack on Iran will be intensified in the next two-three weeks. This came just one day after Trump said the United States was "out of Iran fairly quickly." Both the pan-European STOXX 600?and Europe’s broad FTSEurofirst 300 indices lost 0.2%. The Kospi Index in South Korea fell 4.7%. Prashant Nnewnaha, senior rate strategist at TD Securities said: "The only thing really important is whether or not the Strait of Hormuz opens soon." Trump said earlier on Wednesday that the United States does not need the main oil gateway. Spot gold fell 2.15%, to $4,654.89 per ounce, and U.S. futures gold settled down at $4,679.70, a 2.8% decline. India's central bank banned the trading of non-deliverable futures to stop rupees from falling to record lows. The currency rose 2% after the move, but analysts were unsure how long this rebound would last. Brent futures rose 7.59% to $100.84 per barrel while U.S. West Texas Intermediate closed up 11.41% at $111.54. Jon Withaar, Pictet Asset Management, said that the fact that "boots on the ground" were not ruled-out (during Trump’s TV address), and that the threats to strike infrastructure were reiterated will put the markets back on "the defensive." The yield on benchmark U.S. 10 year notes dropped 1.4 basis points, to 4.307%. The yield on the two-year notes, which moves typically in line with expectations of interest rates for the Federal Reserve fell 0.9 basis point to 3.794%. The yields on the benchmark Bunds in the euro zone ended a three-day slide and traders increased their bets that interest rates will rise. The yield of the benchmark German 10-year increased by 0.7 basis points, to 3.002%.
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Braskem's profits boosted by high petrochemical costs, but a debt problem still looms
Braskem, a Brazilian company, is racing against time to pay looming interest on its debt. A person with knowledge of the company said that the petrochemical manufacturer, which has operations in Brazil and the U.S. as well as Mexico, is considering whether or not to file for an injunction in order to avoid a painful restructuring. The stronger market outlook does not provide enough relief in the short term. Valor, a Brazilian newspaper, was the first to report Braskem's intention to file a petition for protection against its creditors. The company refused to comment. Citibank analysts raised Braskem’s target price this week from 8 to 10 Reais per share citing higher?petrochemical prices due to supply disruptions caused by the Middle East war. Braskem's international bonds are due to be paid $100 million by the middle this year. Braskem will end 2025 with a $9.4 billion debt and only $2.1 billion cash. Braskem is also facing delays in a planned management change. Novonor, a Brazilian conglomerate, agreed to sell Braskem's controlling stake to IG4 Capital in December. Private?equity firms would be able to share control of Braskem with Petrobras (the second largest shareholder). Sources say that the handover, which was originally expected to take place in early 2026 has now been delayed to May. This leaves some of the debt negotiations in the air. IG4 declined comment. Braskem's share price has risen by 15% this year, to 9 reais. Analysts at Citi said Braskem’s improved operational outlook may reduce the need for immediate capital adjustments. This could include a restructuring plan that involves a capital injection, or a possible reduction of its debt via a renegotiation. Reporting by Luciana Magnhaes, Editing by Paul Simao
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Sources say that SpaceX has been in talks with a Saudi fund about a possible investment of $5 billion for an IPO.
According to two sources familiar with the situation, Elon Musk's SpaceX had talks with Saudi Arabia's Public Investment Fund (PIF) about PIF possibly taking an anchor stake in the space company IPO of $5 billion. Sources said that the investment would prevent some dilution in?PIF’s existing stake, which is just under 1% of SpaceX. Three other sources confirmed that the rocket maker had?been lining-up anchor investors long before its stock market debut. The company plans to raise $75 billion in a record IPO, dwarfing previous mega-IPOs like Saudi Aramco and Alibaba. SpaceX wants to gauge investor interest in a deal of this scale. The sources, who requested anonymity due to the confidential nature of the discussions, said that SpaceX was trying measure investor interest. The sources warned that no final decision had been made and that any investment could change. SpaceX has not responded to a comment request. PIF declined comment. Anchor investors are institutional buyers that typically commit to a stake in advance of a roadshow IPO. They do this as a way to show confidence and support the demand for an offering. SpaceX is courting anchor investors with big budgets, but a large portion of the allocation will go to wealthy investors who are served by underwriting banks. Reported?previously. PIF reaffirmed its ties to Musk's empire in November 2025 when its AI firm HUMAIN announced a collaboration with xAI, involving the deployment of 500 megawatts data center capacity - in Saudi Arabia. PIF invested $3 billion through HUMAIN in March 2025, just before xAI merged with social media platform X. SpaceX based in 'Starbase, Texas' recently filed confidential IPO paperwork at the SEC and plans to launch its market later this year.
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Gold drops on stronger dollar and rising expectations of rate hikes
Gold prices dropped on Thursday, as the U.S. Dollar?and oil price?strongened?after Donald Trump stated that the?U.S. Gold prices fell on Thursday as the U.S. dollar?and oil prices strengthened?after President Donald Trump said that the?U.S. As of 1:30 pm EDT (1730 GMT), spot gold was down by 2.2%, at $4.651.35, after reaching a session high. U.S. Gold Futures ended the session 2.8% lower, at $4679.70. The dollar rose sharply, increasing the price of greenback bullion for holders of other currencies. David Meger is director of metals at High Ridge Futures. He said, "The market has been very focused on Trump's remarks, which have so far shown little indication of a rapid resolution to the current energy situation." He added that this is why gold and silver are falling, because there's less chance of rate cuts. Trump claimed in a televised speech that the U.S. Military?had almost achieved its goals in Iran. He did not provide a timeline for the end of the month-long conflict and promised to bomb Iran back into the "Stone Ages". Following Trump's comments, oil prices rose. Energy prices rise, which leads to higher inflation and a reduction in the ability of central banks to reduce rates. Gold is not a good investment when interest rates are high. Since the Middle East conflict began on February 28, spot gold has dropped 12%. The news that the Turkish central bank’s gold reserves fell by 69.1 tons to 702.5 tonnes last week shook the mood. This brings the total fall of the two previous?weeks up to more than 120 tons, as authorities try to'mitigate the market impact from the war. Gold prices in India rose for the first time since two months as lower prices increased?demand. Premiums in China also fell as buyers waited for a more significant correction. (Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Jan Harvey, Shakesh Kuber and Dita Pujara) (Reporting and editing by Jan Harvey, Shaleesh Kuber, Diti Pujara and Ashitha Shivaprasad from Bengaluru)
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US agencies monitor drinking water for microplastics and pharmaceuticals
The U.S. Environmental Protection Agency and Department of Health and Human Services announced on Thursday that they would monitor the 'impact of microplastics and pharmaceutics on 'drinking -water. This is the first step towards assessing the health risks and forming new policies. The announcement by EPA Administrator Lee Zeldin, and Health Secretary Robert F. Kennedy, Jr. was hailed as a victory for President Donald Trump’s "Make America healthy Again" agenda, whose goals have included reducing childhood vaccines recommended and promoting whole -foods in the new dietary guidelines. The EPA has now included microplastics, pharmaceuticals, and other contaminants on its sixth Contaminant 'Candidate List. This would imply that they would be tested and monitored in accordance with the Safe Drinking Water Act, and would receive funding for their research. Zeldin, the EPA, and MAHA activists have been criticized for 'failing to address their concerns including microplastics and not applying stricter rules?on Pesticides. Supporters of RFK Jr. and his "MAHA" program helped elect Donald Trump as president in 2024. Seven U.S. Governors, including those from New Jersey and Michigan, as well as more than 175 environmental and healthcare groups filed a petition late last year asking the EPA for microplastics to be added to the list to monitor. The list is updated five times a year. Microplastics, or microscopic plastic pieces, have been found everywhere. From inside the human body to drinking water and even in the Arctic ice and ocean depths. Some studies have connected them to cancers or reproductive harm. Kennedy had promised to?address plastic pollution, including its manufacture, when he ran for the Democratic nomination in 2024. Later, Kennedy endorsed Republican nominee Trump, whose government warned last year that countries should oppose any attempts to cap plastic production under a possible UN treaty to reduce plastic pollution. The introduction of pharmaceuticals into water systems is due to improper disposal, human waste and other sources. "By placing pharmaceuticals and microplastics on the Contaminant Candidates List for the very first time, EPA 'is sending a message that we will 'follow the science and we will seek answers. We will also hold ourselves to the strictest standards in order to protect the health and safety of all American families," Zeldin made a statement. The agency will release benchmarks on human health for 374 pharmaceuticals that are to be monitored. (Reporting and editing by David Gregorio; Valerie Volcovici)
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Sources say that SpaceX has been in talks with a Saudi fund about a possible investment of $5 billion for an IPO.
According to two sources familiar with the situation, Elon Musk's SpaceX had held discussions with Saudi Arabia Public Investment Fund (PIF) about the possibility of PIF taking an anchor stake in the IPO of the space company worth around $5 billion. Sources said that the investment would prevent PIF from losing its existing stake in SpaceX of less than 1%. Three other sources confirmed that the rocket maker had been in contact with anchor investors well before its debut on the stock exchange. The company hopes to raise $75 billion in a record-breaking IPO, dwarfing previous mega-IPOs like 'Saudi Aramco 2019 - and Alibaba 2014- Sources who requested anonymity due to the confidential nature of the discussions said that SpaceX was trying gauge investor interest in a deal this large. The sources cautioned that no final decision had been made and that any investment could change. SpaceX has not responded to a comment request. PIF declined comment. Anchor investors are institutional investors who 'typically commit to a stake before an IPO -roadshow. This signals confidence and helps underpin the demand for the offering. SpaceX is courting big-ticket anchors, but a large portion of the allocation will go to wealthy investors served by underwriting banks. The Starbase, Texas-based company has recently filed confidential IPO paperwork at the?SEC and plans to launch its?market later this year. (Reporting from Akash Sriram and Echo Wang, both in Bengaluru; additional reporting by Milana vinn and Anirban sen; editing by David Gregorio).
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Logan, Fed's Logan, says that US oil producers are unlikely to offer immediate relief to consumers
Lorie Logan, Dallas Federal Reserve president, said that U.S. producers will not be able to increase output soon and protect consumers from higher gas prices. Logan, speaking at a regional Fed bank conference, said that the price U.S. oil producers need to see to begin drilling is just under $70 per barrel. This is well below the current price of $110 per barrel. Logan said that the price of oil must be maintained at or above the break-even point for firms to invest in the needed equipment that will eventually benefit consumers. She said that U.S. oil companies "need to know that these higher prices will be around for some time, so I don't hear that we are going to see an increase in production in the near future." Logan's remarks suggest that the rise in energy prices?related to the U.S. - Israel war with Iran?will remain a problem near-term for inflation and economic activity, despite the fact that she said that the U.S. had buffers other nations closer to conflict don't. The Dallas Fed chief said that inflation is still one of her main concerns. She said that even before the Middle East conflict, she wasn't sure we would reach our 2% inflation target. "It is incredibly important that we restore price stability and get inflation back down to 2%, because stable inflation is the foundation of a strong economy." Logan echoed the views of many of her colleagues on monetary policy, saying that current uncertainty meant the Fed would have to watch and wait as it gathered information about the economy. Logan stated, "I like to think about things in scenarios at the moment." I think policy is well positioned to adapt to data as it comes in and we are prepared to make changes to the policy as necessary. The Fed is currently facing a significant challenge with the rising energy prices. Last year, the U.S. Federal Reserve lowered its interest rates by three-quarters of one percentage point to support a softening labor market in spite of high price pressures. The war increases the likelihood that inflation will increase, and creates new problems for the job market as well as the overall economic growth. The Fed is forced to make difficult decisions, as Congress has mandated that it must contain inflation while promoting maximum sustainable job creation. Energy price increases are usually ignored by the central bank, since they only have a temporary impact on overall prices and only have a limited effect on underlying prices. St. Louis Fed president Alberto 'Musalem said on Wednesday that the long period of inflation above target creates an increased risk that energy inflation will become a more persistent economic problem. Capital 'Economics stated in a report that the "indirect" impact of higher energy costs on inflation could range between seven-tenths and nearly 1.5 percentage points in the Eurozone, while the UK and Japan are somewhere in between. Personal Consumption Expenditures Prices Index, Fed's preferred measure of inflation, rose by 2.8% in January. This figure is even higher when food and energy prices are removed. Markets have speculated that higher interest rates may be necessary to combat rising inflation. At a meeting last month, the Fed kept its overnight benchmark rate between 3.50% and 3.75%. It also released projections that showed policymakers expect one rate cut in 2026. Logan said that the war "has increased our level of insecurity about the economy?and the outlook. It's made our job more complex because it increases risks on both sides our mandate." She said that if the war is quickly resolved, then its economic impact would be "moderate". Logan said that a longer war would have "adverse impacts" and "could move in opposite directions regarding our dual mandate. This could cause tension between our responsibilities." (Reporting and editing by Paul Simao; Michael S. Derby)
U.S. sanctions hamper Russian efforts to fix refineries, sources state
When engineers at Russian oil company Lukoil found a turbine had broken at their biggest refinery on January 4, they rapidly understood the problem was far from unimportant.
There was just one company that understood how to repair the gasoline-producing system at the NORSI refinery, situated on the Volga River, some 430 km (270 miles) east of Moscow. The problem was that the business is American, according to 5 sources knowledgeable about the incident.
The firm, petroleum engineering international UOP, had withdrawn from Russia after the nation attacked Ukraine in February 2022.
They (the engineers) rushed around to find spare parts and they couldn't discover anything, said a source near Lukoil, who asked not to be named since he is not allowed to speak with the media. Then the whole system just stopped.
Four other sources stated the system - a catalytic cracker utilized to convert much heavier hydrocarbons into gas - has run out When it might be, production given that January and it was not clear repaired due to an absence of competence inside Russia. The KK-1 unit is one of just 2 catalytic crackers at the plant.
As a result, the NORSI refinery - the fourth-biggest in Russia - has cut gas production by 40%, according to 2 of the sources. Lukoil did not respond to ask for comment for this story.
The Lukoil refinery is an example of wider problems in Russia's energy sector where some oil firms are struggling in the face of Western sanctions to fix their refineries, constructed with the assistance of U.S. and European engineering companies, according to a minimum of 10 Russian market sources.
The problems have actually been exacerbated by Ukrainian drone attacks that have actually struck a minimum of a lots Russian refineries this year, the market sources said. The attacks required Russian refineries to shut in some 14% of capacity in the very first quarter, according to computations.
If the stream of drones continues at this rate and Russian air defences do not improve, Ukraine will be able to cut Russian refining runs quicker than Russian firms will be able to fix them, stated Sergey Vakulenko, an expert on Russia's energy industry and non-resident fellow at the Carnegie Endowment for International Peace, an international affairs think tank.
Russia's top energy official, Deputy Prime Minister Alexander Novak, stated recently that the damaged NORSI facilities ought to resume operations within a month or 2, as Russian companies were working to produce the extra parts required.
He also said other Russian refineries have enhanced production after the drone attacks and there was no scarcity on the regional fuel market.
Russia's energy ministry did not respond to an ask for comment. Minister Nikolai Shulginov said on Wednesday all refineries would be repaired by June, without providing even more details.
The NORSI refinery, near the city of Nizhny Novgorod, has actually a. capability of 405,000 metric tons a month of fuel or 11% of. Russia's overall.
The existing interruption would cost Lukoil nearly $100 million in. lost profits a month, based upon an average Russian gasoline. cost of $587 per metric load, according to '. estimations.
Honeywell International Inc, the parent company for. UOP, said in a declaration to it had actually not offered any. devices, products, parts or services to the refinery at Nizhny. Novgorod considering that February 2022, nor to the independently-managed. Slavyansk ECO refinery.
The Slavyansk refinery was hit by a Ukrainian drone attack. on March 18 and ignited briefly.
We are actively working to recognize and interrupt any. possible diversion of our items into Russia via third. parties, Honeywell told by email. The business said it. abide by all suitable export license requirements,. sanctions laws and guidelines. The United States and its allies have actually enforced sanctions on. thousands of Russian targets because the invasion of Ukraine and. around 1,000 companies have revealed their departure from the. nation.
Russia's export-focused $2.2-trillion economy has actually proved. more resistant to 2 years of the unprecedented sanctions than. either Moscow or the West anticipated.
WAR OF ATTRITION
Western business such as UOP and Swiss engineering group. ABB have provided technology and software application to all the 40 biggest. refineries in Russia over the last twenty years, according to. more than 10 Russian market sources. Each refinery has a. mix of Russian and foreign equipment.
ABB validated to it stopped taking new orders in. Russia as soon as the war broke out in February 2022, and has no strategies. Once it has actually satisfied its existing, to return to Russia. legal responsibilities, a representative stated. The company did. not provide information of those commitments.
None of the 5 sources suggested the turbine failure in. January at NORSI was a result of drone attacks. But the sources. said the issues at the plant just worsened after NORSI was. When, hit for the first time by Ukrainian drones in February. other pieces of equipment were harmed, putting extra. pressure on the entire refinery.
As in the United States, the cost of gasoline is a. politically delicate subject in Russia and authorities try to. limit rate rises. Recent steps consisted of imposing a restriction on. gas exports for 6 months in February.
Ukraine states it assaults Russian refineries since it desires. to weaken the Kremlin's war machine by lowering state. revenues and cutting fuel to the army.
Drones are 10s, if not numerous times less expensive than the. expense of repair work, which is essential in a war of attrition, stated. Vakulenko, who was a former head of strategy at Russian energy. significant Gazprom Neft. He left the firm and Russia days after the. start of the Ukraine war.
Russia is the world's second-largest oil exporter. It has. rerouted the majority of its crude and items exports to Asia and. Africa considering that Western countries imposed sanctions on Moscow.
Ought to Moscow face a high decline in refinery output, it. would be forced to cut fuel exports in favour of crude,. according to more than 10 Russian oil traders.
Russia supplies crude to simply a couple of big purchasers, such as. China, India and Turkey, but its portfolio of fuels buyers is. relatively broader as it can deliver to smaller sized consumers. without big refining systems in Africa and South America.
Russia's refining market go back to the 1940s, when the. United States supplied devices under the lend-lease program. throughout World War 2.
After the collapse of the Soviet Union, Russian oil companies. invested tens of billions of dollars in upgrades with the aid. of companies such as UOP and ABB.
UOP assisted upgrade Norsi and Slavyansk ECO refineries. It. did not specify which other Russian refineries it has serviced,. in action to ' questions. The United States has imposed sanctions on business around the. world, consisting of in Turkey, to avoid the transfer of. technology to Russia.
Nations under Western sanctions such as Russia and Iran. have actually long managed to find loopholes to obtain extra parts for. Western-made equipment such as vehicles or airplanes.
Refining devices is much rarer and more specialized;. Western firms have tightened checks to prevent Russia from. importing extra parts through 3rd countries, one of the five. sources stated.
2 of the sources stated Lukoil had actually asked Chinese business. to repair the KK-1 system at Norsi. The sources didn't call the. Chinese business. Lukoil declined to comment when asked if it. had approached China.
China has actually got the technology. But really often it would indicate. a full expensive replacement of the unit instead of a regular,. cheap, routine repair work, among the sources stated.
(source: Reuters)