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US citizens in Cuba warned to prepare for protests, power outages and fuel shortages
The U.S. Embassy in Cuba has warned Americans that they are being denied entry to the country because of a recent spike in protests sponsored by the government against Washington. The report also warned that power outages and fuel shortages could cause "significant disruptions" for?American citizens in Cuba. Why it's important Washington has been blocking oil from Venezuela and other allies from reaching Cuba in recent weeks. This is causing food prices to rise and transportation costs to increase. It also causes fuel shortages, which can lead hours of blackouts. KEY QUOTES The U.S. Embassy warned on its website to "take precautions" by conserving fuel and water and ensuring that your mobile phone is charged. They also said Cuba's electrical grid was becoming increasingly unstable, with frequent power outages. "U.S. citizens in Cuba or those planning to travel there are informed?that there has been an increase in protests directed against the United States by the regime, including anti-U.S. rhetoric." CONTEXT The Republican leader, enthused by the U.S. military seizing the ousted Venezuelan president Nicolas Maduro during a deadly raid that was ordered by President Donald Trump last month, has spoken of taking action against Cuba and putting pressure on its leadership. Human rights experts have criticized Trump's emphasis on exploiting Venezuelan crude oil for its imperialist approach. The U.N. office of human rights has also cited the U.S. raid that led to Maduro being seized as a violation international law. Trump said that "Cuba is going to fail pretty soon" and added that Venezuela, the island's former top oil supplier, had not sent money or oil to Cuba in recent times. Trump has also 'threatened tariffs against goods coming from countries that supply oil to Cuba. Cuba's deputy minister of foreign affairs said on Monday that Cuba and the U.S. were in communication. However, he pointed out that the exchanges had not developed into a formal "dialogue." (Reporting and editing by Raju Gopikrishnan in Washington)
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Fears of an escalation in tensions in the Middle East have boosted oil prices.
The oil prices increased on Wednesday as they extended the gains of the previous day. This was after the U.S. shot a drone from Iran and armed Iranian boats approached a U.S. flagged vessel in the Strait of Hormuz. This rekindled fears of an escalation of tensions between Washington and Tehran. Brent crude futures was?up 65 cents or 1.0% at $67.98 a barrel at 0111 GMT. U.S. West Texas Intermediate Crude was $63.90 a barrel, an increase of 69 cents or 1.1%. Both benchmarks rose by nearly 2% Tuesday. U.S. Military said that on Tuesday, an Iranian drone "aggressively approached" the Abraham Lincoln aircraft carriers in the Arabian Sea. Separately in the Strait of Hormuz, between the Persian Gulf and Gulf of Oman a group of Iranian guns boats approached a U.S. flagged tanker north of Oman on Tuesday, according to a security consultant and maritime sources. Tehran wants the U.S. to hold its nuclear talks this week in Oman, not Turkey. It also wants the scope of the negotiations to be limited only to bilateral discussions on these issues. This raises doubts about whether the meeting will go ahead as planned. Satoru Yushida is a commodity analyst at Rakuten Securities. He said that the increased tensions in the Middle East helped to support the oil market. Saudi Arabia, Iran and the United Arab Emirates export the majority of their crude oil via the Strait of Hormuz to Asia. According to U.S. Energy Information Administration figures, Iran will be the third largest OPEC crude oil producer by 2025. The oil prices were also supported by industry data showing a dramatic drop in U.S. crude stocks. Sources cited American Petroleum Institute figures to say that inventories in the top producing and consumption nation dropped by over 11 million barrels during the past week. The U.S. Energy Information Administration will release official data on Wednesday, 10:30 am EST (1530 GMT). The analysts polled by?expected a rise in crude inventory. The price of oil was also boosted by a recent trade agreement between India and the U.S., which raised expectations for a stronger global demand. Meanwhile, continued Russian attacks on Ukraine heightened concerns about Moscow's oil being sanctioned longer. The ongoing Russia-Ukraine conflict, as well as the India-U.S. trade agreement to stop purchases of Russian crude is also supporting the market, Yoshida added, predicting that WTI will likely continue to trade at around $65 per barrel for the time being.
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US claims it has returned all $500 Million of the initial oil sale to Venezuela
A U.S. official announced on Tuesday that the United States had returned to Venezuela all $500 million of its initial oil sale, which was part of an 'agreement' reached between Washington and Caracas last month. An anonymous official confirmed that the last $200 million of the sale had been sent to Venezuela. The deal was made after Venezuelan President Nicolas Maduro, who was captured by a U.S. army operation on January 3, came to be. The official stated that Venezuela has received the full $500 million of the first Venezuelan oil sales. The official added that money will be "disbursed to the Venezuelan people based on the discretion of the U.S. government." Last week, during his testimony on Capitol Hill, Secretary of State Marco Rubio stated that U.S. involvement with the sale Venezuelan oil is a short-term initiative aimed at stabilizing Venezuela, keeping the Government afloat, and helping the People. He said: "In essence, we let Venezuela use its own oil to generate revenue for teachers, firefighters, and police officers to keep the government running so that 'we didn't experience a systemic collapse. The money was held in Qatar and aimed to be a "temporary account for short-term use to ensure Venezuela receives the funds it needs to operate," according to a U.S. official. The official said that the long-term objective for future sales was to move the proceeds into a fund in the United States and authorize expenditures of any obligation or expense incurred by the government of Venezuela, its agencies and instruments on instructions consistent with procedures agreed upon. (Reporting and editing by Tom Hogue, Edwina Gibbs, and Steve Holland)
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Britain launches framework for boosting advanced nuclear reactor technology
Britain announced a framework for accelerating the development of advanced nuclear reactors on Wednesday, with a goal to become a global leader in next-generation technology. The 'Labour -government has stated that nuclear plants will be an important part of helping Britain achieve its climate targets. They will also provide clean energy for the growing AI industry and create jobs. During President Donald Trump's trip to Britain in 2017, a number of U.S. firms announced plans to build advanced nucleic projects?in Britain, including X-Energy and Holtec, as well as TerraPower, backed by Bill Gates. Nuclear reactors that are advanced use fuels and coolants which allow them to operate at higher temperatures. This means they can provide both industrial heat and electricity for the AI sector. In a recent press release, Nuclear Minister Patrick Vallance stated that "advanced nuclear technologies could revolutionise the way we power industry as well as propel AI data centres boom." The framework will allow the government to 'create a pipeline of project that meet the criteria for readiness, and offer developers a streamlined route through planning, regulation, and approval. The government stated that the projects would need to be funded by 'private' financing, but they will also 'be able to discuss' government support and could seek investment from Britain’s National Wealth Fund. This fund was established in 2024 as a way to support net zero transition and drive economic growth. (Reporting By Susanna Twidale. Mark Potter (Editing by Mark Potter).
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Goldman Macquarie raises average nickel price forecasts for 2026 on tighter Indonesian supplies
Goldman Sachs & Macquarie raised their nickel price forecasts for 2026, citing a tighter ore supply in Indonesia after Indonesia signaled its intention to reduce production. Indonesia's Minister of Energy and Mineral Resources, Bahlil lahadalia, sparked an increase in nickel prices by mid-December when he pledged to reduce production. An official from the Energy Ministry confirmed that Indonesia will reduce this year's mining permits to 250 to 260 millions wet tons ore, down from 379 million in 2025. Nickel, the main component of batteries, is produced in Indonesia. Goldman Sachs has raised its nickel price forecast for 2026 to an average of 17200 dollars per ton, up from 14800 dollars, citing a decline in Indonesia's ore supplies to 260,000,000 metric tons. The?bank stated that prices could reach around $18,700 per ton in the second quarter 2026, as tighter ore supply supports the market. The company expects that supply will increase later this year, as additional approvals bring the output back to 300 million tons. This will return the refined market to an?surplus? of 191,000 tons. Prices are expected to fall to $15,500 per tonne by the end of 2026. Macquarie has also raised its forecast for the average LME nickel price in 2026 to $17750 per ton, up from $15,000. Macquarie stated that the tightening of Indonesia's supply would have a net impact on its projection for?the global Nickel market balance?, which is now projected to be a surplus of 90,000 tonnes, down from 250,000 tonnes. Macquarie assumes that the Indonesian government is going to fine-tune their mining quota policies (RKAB), to aim nickel prices at around $18,000 per ton. LME nickel ended Tuesday at about $17,447 per ton. (Reporting Anushree mukherjee in Bengaluru and Anmol choubey; editing by Lisa Shumaker.)
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Suncor Energy exceeds its quarterly profit expectations on the basis of higher production
Suncor Energy, a Canadian energy company, beat its fourth-quarter profit expectations on Tuesday. Higher production helped to offset the impact of low commodity prices. Suncor and other Canadian oil sands companies have remained resilient despite a 'global oil 'industry decline, due to economic uncertainty caused by the U.S. Tariff Policy, and OPEC+ pumping out more barrels. Years of investment has supported production and kept producers among North America’s lowest-cost operators. Suncor's quarterly upstream?production increased to 909,000 barrels a day from 875,000 barrels a day a year ago. Suncor's refinery output increased by 18,000 barrels per day to 504,000 bpd in the last quarter, and refinery utilization rose to 108% compared to 104%. In extended trading, U.S. listed shares of the Company were up 1.9%. Canadian oil producers benefit from the expanded Trans Mountain Pipeline, which opens up access to global markets while reducing their dependency on U.S. pipe systems. Canada exports almost 4 million bpd of oil to the United States. Results are contrary to peer Imperial Oil, which said last week that lower global oil prices in the quarter as well as wet October weather had caused production problems at its Kearl Oil Sands Mine in northern Alberta. December Suncor has forecast lower spending for 2026 despite increased oil and gas production. It is increasing output, tightening costs and boosting shareholder returns through an expanded share-buyback program. Suncor, based in Calgary, Alberta, expects to produce upstream oil and gas between 840,000 and?870,000 barrels per day (bpd) next year. This is up from the 810,000 to?840,000 bpd estimate it made for 2025. According to LSEG, the company reported an adjusted profit per share of C$1.10 for the quarter ending December 31, exceeding analysts' average estimates of C$1 each. (Reporting and editing by Alan Barona, Tasim Zahid, and Katha Kalia from Bengaluru)
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Zelenskiy: Russia has snubbed Ukraine's energy with diplomatic insults
Volodymyr Zelenskiy, the president of Ukraine, accused Russia of exploiting an energy truce backed by the United States to stockpile weapons and use them to attack Ukraine using hundreds of drones as well as a record number ballistic missiles a day before peace talks. Zelenskiy stated that Ukraine is waiting for the U.S. response to Russia's attack overnight which damaged Ukraine's infrastructure. Washington had already prompted a "short-lived" ceasefire on?attacks against energy targets. Donald Trump, the U.S. president, told reporters that Vladimir Putin, the Russian president had signed an agreement which expired on Sunday. He said, "It's Sunday to Sunday and he hit hard last night." "He kept his promise on that... we'll accept anything because it's so cold there." It was Sunday and he went back to Sunday. When asked if he felt disappointed, Trump responded: "I would like him to end the conflict." In freezing temperatures, the attack knocked down heating in many cities, including Kyiv. Ukrainian negotiators were on their way to Abu Dhabi, where a second trilateral round, mediated by the U.S., was scheduled for Wednesday and/or Thursday. Zelenskiy said on X that "it was a deliberate attack on energy infrastructure, involving a large number of ballistic rockets." A day earlier, Zelenskiy had stated that Moscow had largely adhered to the moratorium on energy facilities agreed between the two parties. The Russian army exploited U.S. "The Russian army exploited the?U.S. UKRAINE UNDER PRESSURE The U.S. is pressuring Ukraine to accept a peace agreement, while Russia's attacks on Ukraine's energy system seem to be aimed at freezing Ukrainians to submission. After the first trilateral meeting in late January, there was no progress on territorial issues. Moscow demanded that Kyiv cede additional land in eastern Ukraine. Kyiv refused. Zelenskiy, in a more aggressive tone than he had used the previous days, said that the work of Ukraine’s negotiators will be "adjusted appropriately" following the attack. He did not provide any details. He told reporters at a Kyiv press conference that NATO Secretary General Mark Rutte was attending, that Ukraine would contact Washington to discuss possible new sanctions for Russia. In his video nightly address,?Zelenskiy stated: "We are expecting a response from America to the 'Russian strikes. It was the American proposal to stop attacks on energy infrastructure in order to support diplomatic efforts during winter and cold weather. Zelenskiy stated that Ukraine was expected to make some concessions but it is also up to Russia, in order to "stop the aggression." He asked: "If the United States and Europe do not have the ability to stop Russian attacks, then who will believe that there is a power to guarantee the war won't re-ignite?" NEW ATTACKS ON ENERGY SYSTEM Officials from Ukraine said that Russia used 450 drones, 70 missiles and other weapons in attacks which injured at least 12 people. The strikes also targeted apartment blocks and energy infrastructure while temperatures hovered between -20 Celsius and -4 Fahrenheit. A strike that occurred early Tuesday evening in Zaporizhzhia, a city located in the south-east of Ukraine, killed two 18-year olds and injured nine others. Oleksiy Kuleba, Deputy Prime Minister, stated that 1,142 apartment blocks in Kyiv were still without heating. Officials in Kharkiv (Ukraine's second largest city) reported 270,000 residents living in unheated flats. Kharkiv mayor Ihor Terekhov posted on Telegram that the goal was to destroy as much as possible and leave the city in extreme cold without heat. He also said that a city thermal plant had been severely damaged. Denys Shmyhal, the Energy Minister of Ukraine, said that a power station in Kyiv’s eastern suburbs was also severely damaged. Officials were evaluating how to redirect funds to restore heating. Last week, Russia and Ukraine announced that they had stopped?strikes against each other's infrastructure. However, they were at odds over the duration of the moratorium. The Kremlin claimed it ended on Sunday. Kyiv stated that it would last until Friday. A new wave of freezing temperatures has gripped much of Ukraine after the coldest January in six years, according to experts. Many families are trapped in dark and icy apartments due to power cuts and heating problems that can last for hours or days. Natalia Hlobenko (35), a Kyiv resident, describes?how, on Tuesday, she covered her son, aged 11, just before an explosion sprayed broken glass all over her apartment. Where is the ceasefire? Hlobenko, wrapped in her windowless flat and wailing with tears, said. "How much can we handle?" STICKING POINT REMAINS IN TALKS Zelenskiy said previously that Ukraine, which is "struggling" to stop the Russian battlefield advances on its borders, was prepared for "substantive talks". Moscow and Kyiv both blame the other for failing to reach a peace agreement. The main issue is territory. Ukraine refuses to cede the 20% of eastern Donetsk region that Moscow cannot conquer after its invasion in 2022. Ukraine's chief negotiator stated that Ukrainian officials will first have bilateral talks in Abu Dhabi with U.S. officials to discuss U.S. guarantees of security for any peace agreement and a reconstruction package after the war, and then hold a tripartite meeting involving Russian representatives. (Additional reporting from Yurii Kovalenko and Anna Pruchnicka; Writing by Dan Peleschuk, Timothy Heritage, and Ron Popeski; Editing by Daniel Flynn and Timothy Heritage)
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Marathon Petroleum buys Venezuelan crude for US refineries
Marathon Petroleum bought two cargoes Venezuelan crude oil at the end of January, and executives expect their refineries to process more heavy grades. Refiners in the United States are expected to gain from President Donald Trump’s efforts to increase output in Venezuela, and to rebuild the country's deteriorating oil sector after the capture of Nicolas Maduro last month. Since Washington and Caracas met, Venezuelan crude oil exports have risen. Deal worth $2 Billion Last month, U.S. Gulf Coast Complex Refineries The U.S. produces heavy sour oil, but Venezuela's is more suitable for processing. Maryann Mannen, CEO of Marathon Oil, said: "We see the access to Venezuelan crude oil as a positive for U.S. Energy and specifically for Marathon Oil." LEANING INTO HEAVY CRUDE Chief Commercial Officer Rick Hessling stated that "right now, the signals point towards a heavier, more sour slate. We are therefore leaning in significantly." The refiner runs 50% sweet crudes, and 50% sour in its entire refining system. Mannen stated that the prices for Western Canadian Select were the highest to date. ?If the economics warrant it, however, their refineries - including the 606,000-barrels-per-day facility in Garyville, Louisiana - have the ability to quickly pivot ?to process Venezuelan crude, she added. Venezuelan heavy crude oil cargoes For delivery at the Gulf Coast, crude oil was being sold at a price of $9.50 per barrel below Brent benchmark while Canadian WCS for delivery to 'the Gulf Coast' was trading at a $10.25 discount under Brent futures. Marathon's refinery, which produces 631,000 barrels per day in Galveston Bay (Texas), is also able to run Venezuelan crude. Valero Energy, Phillips 66 and other refiners have also bought Venezuelan crude as part of Washington's deal with Caracas.
Indonesia announces a 0.1% increase in foreign direct investments in 2025
The Investment Ministry announced on Thursday that Indonesia's?foreign?direct investments last year totalled 900.9 trillion Rupiah (US$53.4 billion), up 0.1% over the previous year. The fourth quarter FDI was 256.3 trillion Rupiah. This is a 4.3% rise from the same time period last year, and the first growth in three-quarters. This compares to a'reduction of 8.9% during the previous three-month period.
The data excludes investment in the oil and gas and financial sectors.
Analysts believe that Southeast Asia's largest economy must attract more foreign investment if it is to increase growth from the current 5% to President Prabowo's target of 8 percent.
After banning the export of nickel ores in 2020, and other minerals by 2023, the resource-rich nation has seen a surge in FDI. This is a measure designed to help its industries move up the global supply chain.
The mining sector received $4.7 billion in FDI, while the base metals sector received $14.6 billion.
Singapore, Hong Kong, and China were the largest sources of FDI by 2025.
(source: Reuters)