Oil Sticks In The Low $90s As Hormuz Stays Shut
A US-Iran deal keeps slipping over Lebanon, leaving the Gulf's chokepoint closed into a fourth month.
Energy
Report Claims Nuclear Talks With Iran Stalled Over Release Of $24B In Frozen Assets
Iran wants $12 billion released after an interim agreement is signed and another $12 billion at a later stage
Trump Unveils $700 Million Plan To Support U.S. Coal Industry
According to a White House official, the package includes $425 million for 13 existing coal-fired power plants.
What Trump’s $700 Million New Coal Plan Means For U.S. Energy Production
The proposal would reportedly use powers under the Defense Production Act of 1950 to strengthen domestic energy production as electricity demand continues to rise
Georgians Will Pay More At The Pumps Beginning Wednesday
The General Assembly passed a 60-day temporary moratorium on motor fuel taxes, which Gov. Brian Kemp signed
Why Does Rubio Say A Nuclear Deal With Iran Is Still Possible
Testifying before the Senate Foreign Relations Committee, Rubio said discussions are being conducted through intermediaries and suggested Iran could make additional diplomatic moves in the coming days or weeks
Energy Markets Rattled By Iran Move To Suspend U.S. Negotiations
West Texas Intermediate crude rose nearly 8% to more than $94 per barrel, while Brent crude climbed almost 7% to above $97
One Biden-Era Policy Reversal Helped Unlock A Record US Oil Lease Sale
“This lease sale is just the latest example of President [Donald] Trump and Congressional Republicans reversing the Biden administration’s anti-energy policies,” House Majority Leader Steve Scalise told the Daily Signal.
Exxon Wins Shareholder Backing For Legal Move To Texas
The oil producer is incorporated in New Jersey, but the company has been headquartered in Texas since 1989. It said moving its legal home to the state was logical and made more sense for the business
Would Oil Bring A Resource Curse In Jamaica?
One economist even went as far as to say: “I hope oil is never discovered in Jamaica. Countries are more likely to get rich if they have to create things, like Singapore and South Korea, instead of just pulling stuff out of the ground, like Venezuela and Angola.”
U.S. Attack And Iran's Retaliation Warning Push Oil Prices Higher
According to market data, Brent crude rose more than 4% to $100.40 per barrel, while West Texas Intermediate futures traded around $94.19.
BP Fires Chairman Albert Manifold Over Conduct Concerns
The oil giant did not disclose specific allegations but said the board unanimously agreed to dismiss Manifold
EU Officials Expect Prolonged Oil And Gas Inflation
According to EU Economy Commissioner Valdis Dombrovskis, higher energy costs are expected to drive inflation to 3.1% this year, well above earlier forecasts.
Why The IEA Says Oil Markets May Enter A ‘Red Zone’
Speaking during a Chatham House discussion on energy security, Birol said reopening the Strait of Hormuz remains the most important solution to easing pressure caused by the Iran conflict.