Trump's LNG strategy sparks interest but raises risks
President Donald Trump's...
President Donald Trump's plan to use US liquefied natural gas exports as a geopolitical tool is drawing interest from countries like India, Japan, and Kuwait, but also risks deterring major buyers like China. While US LNG exports are set to nearly double by 2030, experts warn that leveraging energy trade for political gains could erode long-term market confidence in American supply reliability.
Wall Street could be in for a wild ride to start the week after President Trump announced sweeping tariffs on Mexico, Canada, and China, sparking a new trade war. While many sectors are likely to be hit, keep an eye on auto stocks, which are highly exposed to trade restrictions in North America. GM shares fell 10% last Tuesday, one of its worst days in years, because the company’s optimistic outlook for 2025 did not account for the impact of tariffs.
Flying Soon? Understaffed air traffic control facilities
Of the 313 air traffic control facilities in the United States, 285 are...
Of the 313 air traffic control facilities in the United States, 285 are staffed below levels recommended by the FAA and the union that represents air traffic controllers, according to the New York Times. At 73 of the facilities, which include traffic control towers, the workforce is understaffed by at least 25%.
Two facilities on Long Island that handle 1.2 million flights in and out of Newark, LaGuardia, and JFK Airports annually have nearly 40% of positions unfilled. There’s no quick fix, as it can take more than four years to train a new air traffic controller at some locations. Training at Ronald Reagan Washington National Airport, where the passenger plane involved in last week’s crash was attempting to land, requires almost 16 months to complete.
Jobs report incoming: On Friday at 8:30am ET, the Bureau...
Jobs report incoming: On Friday at 8:30am ET, the Bureau of Labor Statistics will reveal how many jobs got added to the US economy in January. Experts anticipate employment will have grown by 150,000. But for the December 2024 report, analysts expected the addition of 155,000 jobs and got 256,000. Even if Friday’s report doesn’t knock the argyle socks off economy watchers and just meets expectations, it will still signal a mighty jobs market despite the Federal Reserve’s attempts to wrangle inflation. The US economy has added jobs every month since December 2020, per Investopedia.
In trade news that doesn’t involve avocados or automobiles, the Mavericks traded Luka Dončić to the Lakers for Anthony Davis in a shocking swap of superstars.
An air ambulance crash in Philadelphia left seven dead and 19 injured.
Hamas released three hostages, including American-Israeli dual national Keith Siegel.
A major blood bank canceled blood drive appointments after a cyberattack.
US drillers add oil and gas rigs for first time in eight weeks
U.S. energy firms this week added oil and natural gas rigs...
U.S. energy firms this week added oil and natural gas rigs for the first time in eight weeks, energy services firm Baker Hughes BKR said in its closely followed report on Friday.
The combined oil and gas rig count, an early indicator of future output, rose by six to 582 in the week to Jan. 31.
Despite this week's rig increase, Baker Hughes said the total count was still down 37 rigs, or 6% below this time last year.
Baker Hughes said oil rigs rose by seven to 479 this week, while gas rigs fell by one to 98. That weekly rise in oil rigs was the biggest increase since February 2023.
In the Gulf of Mexico, the rig count fell by one to 11, the lowest since March 2022.
In the Haynesville shale in Arkansas, Louisiana and Texas, the rig count fell by one to 28, the lowest since January 2017.
For the month, total oil and gas rigs fell by seven, the most in a month since June, with both oil and gas rigs down by four in January.
The oil and gas rig count declined by about 5% in 2024 and 20% in 2023, as lower U.S. oil CL1! and gas NG1! prices over the past couple of years prompted energy firms to focus more on paying down debt and boosting shareholder returns rather than raising output.
