Saudi Arabia is getting its first Trump Tower. The...
Saudi Arabia is getting its first Trump Tower. The Trump Organization said it’s teaming up with a local developer to build a luxury high-rise tower in Jeddah, Saudi Arabia. The development marks the company’s first major project in the kingdom, and extends the Trump family’s business ties to Gulf countries despite concerns over conflicts of interest, should Trump regain the presidency. A $500 million five-star Trump International hotel complex in Oman is expected to open in 2028 with amenities like a golf course and a nightclub. And the Saudi-backed LIV Golf league has also paid the Trump family to host tournaments at their properties.
Beryl made landfall on the Caribbean island of Carriacou as an “extremely dangerous” Category 4 hurricane. It has since strengthened into the earliest Category 5 storm on record.
Benchmark U.S. crude oil for August delivery rose $1.84 to $83.38 per barrel Monday. Brent crude for September delivery rose $1.60to $86.60 per barrel.
Wholesale gasoline for August delivery rose 5 cents $2.58 a gallon. August heating oil rose 8 cents to $2.61 a gallon. August natural gas fell 12 cents to $2.48 per 1,000 cubic feet.
Permian Basin landowner LandBridge raised $246.5 million in its initial public offering from the sale of 14.5 million shares priced at $17 each, below its target range of $19 to $22, resulting in a roughly $1.2 billion valuation. Backed by Five Point Energy, the company holds some 220,000 surface acres in the basin, primarily in the Delaware portion.
The nationalist National Rally party cruised to victory in the first round of snap parliamentary elections in France, polling agencies projected, bringing it one step closer to mainstream power after being on the political fringe for decades. French President Emmanuel Macron’s alliance of centrists came in third, highlighting voters’ dissatisfaction with the current French leadership. People seemed amped to cast a ballot: Turnout came in over 65%, compared to 47.5% in the first round of the 2022 election. The second and final round of voting will take place with a runoff next Sunday.
