The power went out in Spain and Portugal. The blackout...
The power went out in Spain and Portugal. The blackout hit Spain and Portugal hard, snarling traffic as signal lights went out, forcing flight delays, and knocking out some cell service, with millions left without power and hospitals and businesses relying on backup generators for hours. Meanwhile, homes just over the Spanish border in France also lost power, but it was quickly restored there. As of yesterday, the exact source of the problem had not yet been determined, but authorities said that large oscillations in power caused the country to disconnect from Europe’s grid.
Russia’s Vladimir Putin declared a unilateral three-day ceasefire in the war in Ukraine next week to mark the anniversary of victory in World War II. Ukraine says it wants a longer truce to start immediately. The US is trying to push the two into a deal but has threatened to walk away.
Amazon launched its first internet satellites in a bid to compete with SpaceX’s Starlink.
Data from credit card issuers shows that wealthy US consumers are still spending big, but lower-income shoppers are pulling back, CNBC reports.
A $60 million jet fell off a US aircraft carrier and was lost at sea, the Navy said. The mishap came after the ship turned quickly to avoid fire from Houthi rebels.
The “grandpa robbers,” who allegedly stole from Kim Kardashian and held her at gunpoint during Paris Fashion Week in 2016, are on trial.
Oil's currently a 'demand story," with prices settling near their lowest in 2 weeks
Oil declined Monday, with U.S. prices settling at their...
Oil declined Monday, with U.S. prices settling at their lowest in almost two weeks, retreating in tandem with equity markets amid growing concerns about the health of the economy and the outlook for demand, said Colin Cieszynski, portfolio manager and chief market strategist at SIA Wealth Management.
"Oil is currently a demand story and if there are any issues related to supply, it’s more likely oversupply," he told MarketWatch. It’s becoming clear that issues surrounding tariffs are "not going to be settled or resolved easily and could drag on for months."
Traders should start to hear more about the outlook for oil later this week and into next week, once the big producers start reporting on Friday, said Cieszynski.
West Texas Intermediate crude for June delivery lost 97 cents to settle at $62.05 a barrel, the lowest front-month contract finish since April 15, according to Dow Jones Market Data.
Dow, S&P 500 score 5th day of gains, Nasdaq ends down as tariff-wary investors await busy week of earnings and economic data
Stocks finished mostly higher Monday ahead of...
Stocks finished mostly higher Monday ahead of a busy week of economic data and an onslaught of corporate earnings, including results from four members of the so-called Magnificent 7. Investors look for signs of progress on the trade front and any signs of damage from tariffs.
The S&P 500 gained 0.06%, closing at 5,528.75, marking its fifth consecutive day of gains. The Nasdaq Composite, however, ticked 0.1% lower, finishing at 17,366.13. The Dow Jones Industrial Average rose by 114.09 points, or 0.28%, to settle at 40,227.59.
US Drillers Add Oil, Gas Rigs for Second Week in a Row
U.S. energy firms this week added oil and natural gas rigs for a second...
U.S. energy firms this week added oil and natural gas rigs for a second week in a row, for the first time since February, energy services firm Baker Hughes said in its closely followed report on April 25.
The total oil and gas rig count, an early indicator of future output, rose by two to 587 in the week to April 25.
Despite this week's rig increase, Baker Hughes reported that the total count was still down 26, or 4% below the same time last year.
Baker Hughes said oil rigs rose by two to 483 this week, while gas rigs increased by one to 99.
In April, drillers cut the number of rigs operating by five, putting the total count down for a second month in a row with oil rigs down by one and gas rigs off by four.
E&Ps Show ‘Unusual’ Discipline with $4 NatGas Strip
Haynesville Shale producers are exhibiting rare discipline in the face...
Haynesville Shale producers are exhibiting rare discipline in the face of elevated natural gas prices, forcing some analysts to redraw their growth forecasts.
Haynesville E&Ps aren’t racing to drill up scarce shale gas inventory as the “golden age of natural gas” begins to take form.
Henry Hub futures will average $3.56 for the rest of 2025, according to CME Group data. Forward prices are at a healthy $4/Mcf for the rest of 2026, Expand Energy President and CEO Nick Dell’Osso said. He spoke April 24 at the “Powering AI Global Leadership Summit” hosted by Oklahoma State University’s Hamm Institute for American Energy.
Yet, U.S. gas rigs are down from the levels seen a year ago, when prices hovered around $1.50, according to Energy Information Administration (EIA) data.
“That’s unusual,” Dell’Osso said. “When you see a forward curve of $4 for natural gas, you should see that rig count go up.”
