Oil prices extended losses on Wednesday as rising OPEC+...
Oil prices extended losses on Wednesday as rising OPEC+ supply and escalating U.S.-China trade tensions deepened concerns over global demand, prompting Bank of America to warn that Brent crude could drop below $50 per barrelin the months ahead.
President Trump confirmed yesterday that he had authorized covert CIA actions in Venezuela.
Argentina could get another $20 billion in aid from the US, which is looking to tap the private sector for the funds. However, President Trump suggested Tuesday that the US would not provide money if Argentine President Javier Milei is not reelected.
The Delaware Supreme Court heard oral arguments yesterday over whether Tesla should pay Elon Musk $56 billion, bringing the yearslong legal battle concerning the CEO’s compensation close to a resolution.
Waymo plans to launch its driverless taxis in London next year.
The US will mint one-dollar coins honoring innovators next year, including one featuring Steve Jobs.
Sam Altman said OpenAI is “not the elected moral police of the world” following backlash against his announcement that ChatGPT will allow adults to produce erotica.
Mexico Sends $3 Billion in Subsidized Fuel to Cuba in Just Four Months
Between May and August 2025, Mexico...
Between May and August 2025, Mexico shipped more than $3 billion worth of subsidized fuel to Cuba through Gasolinas Bienestar, a subsidiary of state oil company Pemex, according to an investigation by Mexicanos Contra la Corrupción y la Impunidad (MCCI). The figure is three times higher than the total shipments during the final two years of the previous administration.
MCCI found that at least 58 fuel shipments — including gasoline, diesel, and crude — departed from Mexican ports over just four months, mostly from Coatzacoalcos, Veracruz, with three leaving from Tampico, Tamaulipas. The cargoes were tracked through maritime monitoring platforms, showing consistent routes between Mexico and Cuba.
Oil prices hit 5-month low on US-China trade tensions, looming supply surplus
(Reuters) - Oil prices eased on Wednesday to a five-month...
(Reuters) - Oil prices eased on Wednesday to a five-month low on escalating U.S.-China trade tensions and the International Energy Agency's prediction of a supply surplus in 2026.
Brent crude futures fell 48 cents, or 0.8%, to settle at $61.91 a barrel. U.S. West Texas Intermediate (WTI) futures fell 43 cents, or 0.7%, to settle at $58.27.Those were the lowest settlements for both benchmarks since May 7 for a second day in a row.
Bank of America said Brent prices could slip below $50 a barrel if U.S.-China trade tensions intensify while OPEC+ production ramps up.
The world's two largest oil consumers have renewed their trade war over the last week, with the U.S. and China imposing additional port fees on ships carrying cargo between them. The tit-for-tat moves could disrupt global freight flows.
Dow ends flat, while S&P 500 and Nasdaq advance on strong earnings reports
U.S. stocks finished mostly higher after choppy trading...
U.S. stocks finished mostly higher after choppy trading on Wednesday, with investors sending the S&P 500 and Nasdaq Composite higher on robust earnings reports from banks.
Meanwhile, the Dow Jones Industrial Average erased a 400-plus-point gain to close flat after being dragged down by Honeywell International Inc. shares.
The Dow fell 17.15 points to finish flat at 46,253.31, based on preliminary data. It gave up a 422.88-point gain from earlier in the day.
The S&P 500 rose 26.75 points, or 0.4%, to end at 6,671.06.
The Nasdaq Composite advanced 148.38 points, or 0.7%, to close at 22,670.08.
The small-cap Russell 2000 rose 24.26 points, or 1%, to end at an all-time closing high near 2,519.75.
TotalEnergies CEO Patrick Pouyanne and Baker Hughes CEO Lorenzo Simonelli...
TotalEnergies CEO Patrick Pouyanne and Baker Hughes CEO Lorenzo Simonelli said at the Energy Intelligence Forum that the Trump administration's steel tariffs are increasing costs and affecting investment. Simonelli estimated the tariffs could add up to $200 million in costs this year. ExxonMobil CEO Darren Woods downplayed the impact of US policies but criticized European environmental regulations for driving away investment.
