Oil Prices Soar on U.S. Sanctions Despite Weak Fundamentals
Light crude oil futures have surged more than 8% this week, driven by...
Light crude oil futures have surged more than 8% this week, driven by aggressive short-covering and geopolitical risk after the U.S. slapped new sanctions on Russia’s top oil exporters. However, despite the sharp rally, underlying supply and macroeconomic concerns continue to cap the upside, keeping traders cautious about the sustainability of the move.
After closing on Thursday up $3.29 at $61.79, WTI crude oil futures on early Friday morning are up 15 cents at $61.94 per barrel, as of 7:00 AM ET.
Working natural gas in storage across the United States increased by...
Working natural gas in storage across the United States increased by 87 billion cubic feet in the week ending October 17 compared to the previous seven-day period to reach 3,808 billion cubic feet, the Energy Information Administration (EIA) said in its report published on Thursday. [Thursday Closing Price:Natural Gas: 3.344 (-0.106). ]
On an annual level, the figure increased by 34 billion cubic feet. Additionally, the stockpiles increased by 164 billion cubic feet above the five-year average of 3,644 billion cubic feet. The total working gas was within the five-year historical range.
Halliburton: International Activity a Growth Engine in 2026
Halliburton is looking largely to...
Halliburton is looking largely to increased international and offshore demand for near- to mid-term growth. So far, the approach is working.
While the company saw an increase in North American revenue— somewhat offset by more than $30 million in tariff payments—in the international markets, “our value proposition is winning with customers,” CEO Jeff Miller said Oct. 21 in a quarterly earnings call with investors.
“We are demonstrating differentiated performance both on and offshore, and our growth engines are on track,” CEO Jeff Miller said Oct. 21 in a quarterly earnings call with investors.
Indeed, international and offshore opportunities look “solid” in 2026, Miller said.
European defense giants are joining forces to take on Elon Musk in space
Airbus, Leonardo, and Thales are combining their space businesses into...
Airbus, Leonardo, and Thales are combining their space businesses into a single company in a move that could create a European alternative to Musk’s SpaceX. Airbus will be the majority owner with a 35% stake, the companies said, and the joint venture will employ 25,000 people across Europe. French President Emmanuel Macron and others have championed the idea of a European satellite competitor that could be a substitute for SpaceX’s Starlink system. One expert told CNBC that it’s “the first tangible evidence of Europe addressing its waning technological sovereignty.”
Apple reportedly cutting iPhone Air production due to low demand. The...
Apple reportedly cutting iPhone Air production due to low demand. The iPhone Air could be on its way to “RIP 2025–2025” meme status. Apple is telling supply partners to slash production of the skinny iPhone after it posted weak sales in its first few weeks on the market, Nikkei Asia reported. The other models in the new iPhone 17 lineup are reportedly selling well, and Apple plans to maintain its current production estimates. The Air has been criticized by techies for its relatively low battery life and single camera, though some have applauded its light weight. Experts say it could serve as the forerunner to the oft-rumored foldable iPhone.
President Trump will meet Chinese leader Xi Jinping at the Asia-Pacific Economic Cooperation summit in South Korea next week, the White House said.
The US National Guard will not yet deploy to San Francisco after President Trump said he received calls from Nvidia CEO Jensen Huang and Salesforce CEO Marc Benioff asking him to hold off.
Rivian laid off more than 600 workers following the rollback of EV-friendly policies, an action that’s expected to hurt electric automakers.
Vladimir Kramnik, a Russian chess grandmaster, could face disciplinary action after he made unproven cheating allegations against American grandmaster Daniel Naroditsky, who died this week at the age of 29.
