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Oil drops after US-Iran talks end in Doha
Early trade on Thursday saw oil prices drop after Qatar announced that Iran and the U.S. made "positive progress" during indirect talks concluded on Wednesday. The talks focused on the 'Strait of Hormuz which handled one-fifth of the global supply of oil before the war. Brent futures fell 73 cents or 1.02% to $70.84 a bar by 0102 GMT. U.S. West Texas Intermediate Crude dropped 83 cents or 1.21% to $67.75 a bar. Both benchmarks dropped more than 1% in the previous session to their lowest level in four months. Sources claim that the U.S., Iran and their negotiators spent two days at Doha to discuss maritime traffic on the 'Strait of Hormuz' and the unfreezing of Iran funds. Although traffic is partially back on track, both countries exchanged strike last weekend after an Iranian attack against a cargo vessel. Two senior Iranian sources have said that Iran is determined for international recognition to be given to its control of the Strait, even if this means using force. Tehran has repeatedly stated that it will impose tolls for shipping in mid-August after the toll-free period stipulated by the original agreement expires. The tanker traffic in the Strait of Hormuz has begun to recover. U.S. Vice-President JD Vance said that oil flow through the waterway was back to prewar levels. He did not provide any figures. Haitong Futures stated in a report that as the strait remains open and crude oil continues to flow out, competition for share of market keeps driving oil prices lower, and there is growing expectation of an oversupply. Sources said 'on Wednesday that OPEC+ countries are likely to agree on a new increase in output from August at their Sunday meeting. Sources said that the target for August will be the same as it was for June and for July: 188,000 barrels/day. The Energy Information Administration reported on Wednesday that crude oil inventories in the U.S. fell by 3.8 million barrels last week to reach 408.4 millions barrels, their lowest level since September 2018. The result was less than what analysts had expected in a poll that predicted a drop of about 4.5 million barrels. (Reporting and editing by Sonali Paul in Beijing, Sam Li, Lewis Jackson)
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Relocating six million Singapore bees, and counting - one nest at atime
Clarence Chua, 42, rescues bees with a bandana, and sometimes his own hands. He scoops them out of nests into wooden boxes to re-locate, or even relocate, the bees. Chua stated, "They are completely fine with being in close proximity to them if they feel respected and if their safety is not threatened." Residents of tropical Singapore who find bee nests in their homes usually call pest control. This service can eliminate the nests within minutes and for a cost between S$80 and S$150 (62 to $116). Chua, however, has been able to convince a growing number of people to let him rescue bees between S$100 to S$500. He has relocated 100 nests per year on average in the last six-year period, saving approximately 6 million bees. The humane relocation involves moving the entire nest while keeping the queen, baby bees, and worker bees in the colony. The bees are then transferred to three apiaries that he maintains, including one in his backyard. Chua has saved bees in all kinds of exotic places. From a "spirit home" inside a condominium, to the engine of a plane, which couldn't take off until a swarm had been relocated. He noted that as awareness about bee rescues improved, local town councils which manage public housing estates in which almost 80% live had also "begun" engaging his services. The job is not without danger. He once tried to rescue what he thought were docile, calm bees from a condo ledge, but they attacked him. He was stung 100 times in the 30 seconds that it took him to remove his harness and get away. He said that it taught him to never underestimate nature. He still approaches nests first without a beesuit to gauge the mood of the swarm before donning a suit if they seem agitated. Chua promotes bee rescues via social media. Some of the videos of his exploits are taken in a first person?view using Meta glasses. "Without bees there will be much less fruit or more expensive fruit because there is a shortage of fruit around the world." He said that we are dependent on a staggering amount of crops for our survival.
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Stocks flat as traders digest Fed comments, oil falls
The gauge of world stock markets fell to begin the first quarter on Wednesday, as the U.S. Central Bank?head stated that inflation expectations had fallen, but that policy would not be relaxed. Meanwhile oil prices dropped as optimism about U.S. Iran talks eased concerns over supply. Even if the yen recovered later in the day, traders are still watching for any possible Japanese intervention on the currency markets. Kevin Warsh, Federal Reserve Chair, said that inflation expectations and risks have decreased in recent weeks. He said that he would stick to the U.S. Central Bank's 2% target for inflation and "disappoint anyone" who expected a looser monetary policy. His comments weighed heavily on the dollar. This is because rising expectations for Fed rate hikes in this year have boosted the dollar. Inflation is well above the central banks's 2% target. Many analysts still believe that inflation will improve in the coming months. "We see no signs that the imbalance between inflation and activity is increasing rapidly," said Steve Englander, Standard Chartered Bank New York's head of global G10 research and North America Macro Strategy. Englander said that you can wait to see how the longer-term trends in technology play out. What we see is that the unit labor costs have been very low, and that's ultimately what the Fed controls. The dollar index (which measures the greenback versus a basket of major currencies) rose by 0.17%, to 101.41. Meanwhile, the euro fell by 0.39%, to $1.1376. The dollar and yen were last day flat. The Fed is not expected to make any changes at its meeting in late August, but a rate hike in September has been priced in. The trades are also looking forward to Thursday's economic reports, which will show that U.S. employers created 110,000 new jobs in June and the unemployment rate remained at 4.3%. According to the ADP National Employment Report released on Wednesday, private employment increased by 98,000 positions in June. This was below the 118,000 predicted by economists. The Dow Jones Industrial Average dropped 13.96 points or 0.03% to 52,305.24. The S&P 500 declined 16.13 points or 0.22% to 7,483.23 while the Nasdaq Composite lost 173.69 points or 0.66% to 26,040.0. MSCI's global index of stocks fell 2.51 points or 0.22% to 1,117.95. The pan-European STOXX 600 fell by 0.38% while Europe's FTSEurofirst 300 fell by 11.45 points or 0.45%. Emerging Market stocks dropped 0.96 points, or 0.06% to 1,721.93. Japan's ?Nikkei gained 0.6% after surging 37% last quarter. South Korea's index dropped about 2% after a rally of 68% last quarter, driven by chip demand fueled by AI. Oil prices dropped on the energy markets as optimism about U.S. - Iran talks eased supply concerns. Phil Flynn is a senior analyst at Price Futures Group. He said that there's a growing optimism as more oil passes through the Strait of Hormuz. The market is saying that, once we get through this, we will be able to produce more oil than ever before. Brent crude dropped 2.44% to $71.17 a barrel, down from $68.09 per barrel. Despite sharp price declines last quarter, both remain ?up almost 20% year-to-date. A poll shows that analysts have cut their oil price forecasts 2026 for the first since the Iran War began. The reopening of Strait of Hormuz has eased fears over supply disruptions.
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US Nuclear Power Regulator proposes to change rule protecting people against radiation
The U.S. Nuclear Power Regulator on Wednesday proposed "changes" to a rule that protects people from radiation. This is the latest proposal by the Trump administration to change or soften the rules in order to speed up development and reduce costs for new nuclear reactors. In 2025, President Donald Trump issued executive orders to accelerate the permitting of nuclear reactors and overhaul the Nuclear Regulatory Commission. He also directed the Energy and Defense departments work together in order to build nuclear power plants on federal lands. Trump wants to quadruple the U.S. nuclear capacity by 2050 in order to meet rising power demand due to data centres, electric vehicles, and crypto-currencies. Nuclear Regulatory Commission's proposal removes a radiation dose limit standard, ALARA (As Low as?Reasonably Achievable), with objective limits. Ho Nieh said to reporters that the NRC's rulemaking process would increase the clarity of our regulations. "It does not lower the bar for our safety standards." Industry has long claimed that ALARA was tied to the Linear No-Threshold model, which holds that "any dose of radiation" (no matter how small) can cause cancer. They also claim that ALARA compliance is expensive, time-consuming and filled with uncertainties. The proposed changes include adopting a graded radiation dose management approach based on operational and risk circumstances. The new regulation also gives nuclear power plant operators more flexibility in using "modern methods of evaluating radiation doses for workers and the general public." Nieh stated that he did not expect current nuclear reactors to undergo major changes if the new rule is finalized. He said that it could speed up the development of new nuclear reactors. Nieh, a reporter, said that "now they have a clear picture of how the requirements for radiation protection will look. This will help them design and build their reactor in terms of shielding and materials." Edwin Lyman is a physicist at the Union of Concerned Scientists and an advocate for nuclear safety. He said that the NRC reaffirmed scientific consensus?that there's no "safe" level of radiation and the cancer risk is proportional with the dose. The new rule would allow workers at nuclear facilities and the public to be exposed higher levels of radiation that can cause cancer, just to save money for the nuclear industry. Lyman stated that "this will only increase the burden of disease at a time where cancer rates among young people are already on the rise." The NRC made a proposal last month to change a rule that would have "dramatically weakened measures" protecting nuclear power plants from terrorist attacks. A new rule, proposed Wednesday, would streamline the construction of reactors and make major changes to the licensing process. The NRC will accept public comments for 45 days prior to the finalization of the radiation rule.
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Ukraine calls for the publication of Irish investigation on alumina exports as soon as possible
On a Wednesday visit to Dublin, Ukraine President Volodymyr Zelenskiy demanded that Ireland complete an investigation to determine if Irish alumina exported to Russia is being used to make weapons-grade aluminium. Ireland has been under increasing pressure in recent weeks because of its Aughinish Alumina Plant, Europe's biggest refinery for alumina (a feedstock used to produce aluminium). It continues to send the material to Russia where it can be used to produce aluminium for military equipment and weapons. Dublin has ordered an investigation into alumina exports and defended an EU decision not to include the plant in Russian sanctions packages. The facility, located in southwest Ireland, is an important part of EU supply chains. "We are grateful that Ireland is conducting an investigation into the matter." Zelenskiy said that he hoped for a positive outcome for the country and that he hoped we wouldn't need to wait for months before we got it. "Every tonne raw material that ends in Russia is used to our detriment," he said. In its 21st set of sanctions, the EU didn't include any alumina exports from Ireland to Russia or mention Rusal's Irish plant. Kaja Kallas, the EU's chief of foreign policy, said that future sanctions could include a limit on Irish alumina exports to Russia. Martin, who invited Zelenskiy, to Dublin, for the start of Ireland's six month term as rotating president of the EU, said that the investigation was close to completion and Dublin will discuss it with European Commission once finalised. Martin stated that "we do not want to be in a situation?where materials from an Irish plant go to support the Russian War Machine."
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Stocks flat as traders digest Fed comments, oil falls
The gauge of world stock markets remained unchanged to begin the third quarter on Wednesday, as the U.S. Central Bank head stated that inflation expectations had?fallen?"but policy will not be loose. Meanwhile, crude oil prices fell due to optimism about U.S. - Iran talks. The traders also kept an eye out for any possible Japanese intervention on the currency markets after the yen hit new lows of 40 years against the dollar. Kevin Warsh, Federal Reserve Chair, said that inflation expectations and risks have decreased in recent weeks. Kevin Warsh said that he would stick to the U.S. Central Bank's 2% target for inflation and "disappoint anyone" who expects loose monetary policies. His comments have weighed heavily on the dollar. This is because rising expectations for Fed rate increases this year are a major factor in the rise of the dollar. Inflation has risen well above the central bank's annual 2% target. Many analysts still believe that the inflation situation will improve in coming months. Steve Englander, Standard Chartered Bank New York's head of global G10 research and North America Macro strategy, said that there was no evidence that the imbalance between inflation and activity is increasing. Englander said that you can wait to see how the longer-term trends in technology play out. The Fed is in control of the unit labor costs. The yen's last day performance against the dollar was flat. Interest rate futures indicate that the Fed will not make any changes at its meeting later this month. However, a hike is expected in September. The trades are also looking at Thursday's economic report, which is expected to show that U.S. employers created 110,000 new jobs in June. According to the median estimate by economists polled, the unemployment rate will remain unchanged at 4.3%. ADP's National Employment Report showed on Wednesday that private employment increased by 98,000 last month. This was below the forecasts of economists who expected 118,000 new jobs. The Dow Jones Industrial Average rose by 50.38 points or 0.10% to 52,368.89. The S&P 500 gained 3.37 points or 0.04% to 7,502.61, and the Nasdaq Composite dropped 69.65 or 0.27% to 26,143.71. MSCI's index of global stocks fell 0.68 points or 0.06% to 1,119.78. The pan-European STOXX 600 fell by 0.38% while Europe's FTSEurofirst 300 fell by?11.45 or 0.45%. Emerging market stocks rose 0.70 points or 0.04% to 1,723.59. Japan's Nikkei index gained 0.6%, after it surged 37% in the last quarter. Strong tech demand lifted sentiment among major manufacturers to an 8-year high. South Korea's main stock index dropped about 2% after a rally of 68% last quarter, driven by AI-driven chip demand. Oil prices dropped on energy markets as optimism about U.S. Iran talks eased supply concerns. Price Futures Group senior analyst Phil Flynn said that there is more optimism now that more oil passes through the Strait of Hormuz. The market signals that we will probably be producing more oil in the world than ever before once we have overcome this issue. U.S. crude dropped 1.83%, to $68.23 per barrel. Brent was down 2.21% to $71.34 a barrel. Both crude oil and Brent are up nearly 20% on the year despite sharp price drops last quarter. Spot gold increased 1.4% on Tuesday after its biggest quarterly decline since 2013.
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Valar Nuclear partners with Nvidia to create a data center that conserves water
Valar Atomics, a nuclear energy startup, announced?on Wednesday that it was partnering with Nvidia to develop a small Utah data center. The companies claim this will demonstrate how computing facilities required for AI can save water. Valar, a Californian company, announced its partnership with Utah's microreactor plant. The company also conducted a demonstration using Nvidia Blackwell, the latest AI chip architecture designed for data centres. The companies claimed that it was the first time a small reactor has powered a data centre. Valar is among a group of 10 startups participating in the Department of Energy's reactor pilot program. The goal was to demonstrate that three small reactors could reach criticality by July 4, when a nuclear reaction would be able to "sustain" itself. Nvidia announced that its latest data centre design, DSX, would be using closed-loop fluid cooling. It claims this method can reduce water consumption for facility-cooling from 2.6 million gallons of water per megawatt annually to 'near zero. DATA CENTER OPPOSITION GREENERS Concerns?over the U.S. Data Centers' need for water and power have led to a growing backlash. A recent /Ipsos survey showed that only 1 in 3 Americans approved of the rapid pace of construction of data centers, a topic on voters' minds ahead of the midterm elections scheduled for November 3. In order to avoid permitting, stakeholder engagement with the public and grid interconnection, companies have sought to generate their own electricity through private or "behind the meter" plants. The projects are mostly natural gas-based, but some companies have their eyes on small nuclear reactors that could be used to power AI infrastructure. WHITE HOUSES?PUSHES RACTORS The administration of President Donald Trump sees the small nuclear reactor as one way to increase?power production. Trump issued executive orders in?May aimed at quadrupling the nuclear deployment. John Josephakis is a global vice president at Nvidia. He said, "Through the work done with Valar Atomics Nvidia explores how advanced nuclear systems that are waterless and behind-the-meter could support future AI factories designed for scale and reliability required by accelerated computing." Founder Isaiah Taylor of Valar said that the company is trying to show that nuclear projects can be completed quickly, despite long regulatory obstacles. Valar claims its high-temperature reactor is cooled by helium rather than water. Valar has joined a lawsuit against the Nuclear Regulatory Commission brought by Texas and Utah last year, arguing it lacks licensing authority for some microreactors or small modular reactors. Valar wants to hand this oversight over to the individual states.
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Huge crowds celebrating Mexico's World Cup victory resulted in four deaths
Mexico City's central avenue was thronged with hundreds of thousands fans celebrating the victory of Mexico over Ecuador in their first World Cup knockout game in 40 years. Mexico City's Department of Health said that in the early morning hours of Wednesday, emergency teams treated three unconscious individuals at various locations along the Paseo de la Reforma boulevard where giant screens were set up to show the match. The health authority reported that a woman aged 19 and a man aged 44 both died from suffocation despite advanced resuscitation. A 48-year-old woman died of asphyxiation in the hospital. Later, authorities reported that a man aged in his 30s died after being taken to hospital with severe seizures and bleeding from the gastrointestinal tract. He died from a cardiac event. The crowds grew with every Mexican win as the team advanced through the tournament, which the soccer-mad nation is hosting jointly with the U.S.A. and Canada for the first time in 1986. In recent weeks, Mexico City banned alcohol sales on match days for Mexico and increased the number of screens as well as the distance between them in an effort to improve safety. More than 2 km of Paseo de la Reforma was closed for traffic on Tuesday and covered with giant screens that showed the match. Around a million people gathered, according to the city government. LOCAL REPORTS: CROWD PANIC CAUSED CRUSH The local newspaper El Universal reported the fatal crowd crush was triggered by pyrotechnics that caused panic. People started to run, and some fell and were trampled. Patricia Garcia, 54, a housewife from Mexico, said in the early morning hours of Wednesday that she was 'delighted by the Mexican victory, but that the situation had gotten out of control. "I'm not a fan of excessive celebrations. You can't let others be affected by it. She said, "Freedom has limits and these limits are where someone else's freedom starts." Videos posted on social media revealed chaotic scenes. One video clip, which appears to have been recorded near the Angel monument on Paseo de la Reforma, showed people stuck and unable move as the momentum of the dense crowd pushed them and swayed them. Some clips show groups of fans kicking and punching each other at the same location, and then slipping on the ground, covered in foam, cans and bottles. The Attorney General's Office will investigate what went wrong, and the authorities will evaluate whether any changes are needed ahead of Mexico's match against England in the last-16 on Sunday. She said this during her morning press conference.
Source: Abu Dhabi's ADNOC is considering a bid for Aethon US natgas assets.
A person familiar with this matter said that Abu Dhabi's state-owned oil company ADNOC was in the initial stages of evaluating a bid to purchase the U.S. Natural Gas assets owned by investment firm Aethon.
ADNOC made a series of acquisitions, including in the fields of gas and chemicals. Along with LNG and renewables, it sees these as the pillars that will support its future growth.
The energy giant purchased a stake and a supply contract for 20 years in NextDecade’s liquefied gas export project located in Texas.
Source: Other parties are also involved in the discussions regarding the assets of the U.S.-based energy investment firm,
In November, it was reported that Aethon had been exploring options to sell or offer its midstream and natural gas assets at a value of $10 billion.
Aethon's upstream assets, which are primarily focused on the Haynesville Shale Formation in Louisiana and East Texas constitute one of the biggest privately owned U.S. Gas producers.
ADNOC and Aethon didn't immediately respond to comments.
Bloomberg News reported first on Friday that ADNOC is considering a bid to buy Aethon’s natural gas assets. Reporting by Mrinalika in Bengaluru, Anousha in London and Vallari Srivastava. Additional reporting by Vallari. Editing by Shailesh and Shinjini.
(source: Reuters)