The funding will support five separate projects, each featuring two nuclear reactors based on Westinghouse’s AP1000 design, which can generate approximately 1.1 gigawatts of electricity per unit.
The exemption allows Iran to produce, sell and receive payments for crude oil, petroleum products and petrochemicals in U.S. dollars through August 21.
The restructuring includes the elimination of the chief operating officer position and operational changes at Lucid's manufacturing facility in Casa Grande, Arizona.
Treasury Secretary Scott Bessent said the move is part of a broader diplomatic framework aimed at advancing a long-term agreement between the two countries.
The facility is expected to consume nearly 2.7 gigawatts of electricity, an amount comparable to the power needs of roughly 2 million homes.
According to shipping data from Kpler, the vessels resumed visible tracking after remaining off public monitoring systems for more than two months
According to the IEA’s latest monthly report, global oil demand growth for 2026 has been sharply downgraded after fuel shortages and elevated energy prices reduced consumption
Sens. Alex Padilla and Patty Murray wrote to Energy Secretary Chris Wright, requesting that the Department of Energy stop work on the project until Congress authorizes it
Led by Secretary Doug Burgum, the department determined the agreements were “operating in direct opposition” to its mission, according to a press release obtained by Fox News Digital.
Brent crude dropped about 5% to below $83 per barrel, while U.S. crude fell more than 5% to around $80.
Pressure brought Iran to terms and stopped a war. Turning that into a lasting peace is the work ahead.
Crude fell sharply on the deal signal, though the strait stays shut and the blockade remains until any agreement is signed.
May prices rose 4.2 percent from a year earlier, almost entirely on fuel, leaving the Fed boxed in before next week's meeting.
The Dow sheds more than 900 points after a three-year-high inflation print collides with the Gulf escalation.
Crude jumps in early trading after the second night of attacks, with the risk premium back in an already tight market.
