No breakthroughs in Europe’s talks with Iran. European...
No breakthroughs in Europe’s talks with Iran. European and Iranian negotiators met in Geneva yesterday in hopes of hashing out an agreement to deescalate Iran’s conflict with Israel over Iran’s nuclear program—which President Trump said Thursday he’d decide whether to join within two weeks to give diplomacy a chance first. But they failed to come to an agreement as Iran reportedly insisted it be allowed to continue enriching uranium. Despite ending at an impasse, the negotiations left open the possibility of more talks going forward. Meanwhile, Israel’s military chief warned the public to prepare for a “prolonged” campaign in Iran.
An appeals court ruled that the president had the power to send National Guard troops to Los Angeles without going through California’s governor.
The Supreme Court refused to fast-track a case brought by toy companies challenging President Trump’s tariffs. Separately, the high court upheld a law that allows American victims of terrorism in Israel and their families to sue the Palestinian Authority and Palestine Liberation Organization.
TikTok received another 90-day extension of the deadline to sell the company or face a federal ban, so your FYP remains safe for now.
President Trump says he’s near a “‘mindbogglingly’ HISTORIC” settlement that could end his feud with Harvard.
Telegram founder Pavel Durov said he will leave his fortune to all his children. That may sound pretty standard, but Durov has over 100 of them, most of whom he fathered through sperm donation.
Dow ekes out gain, but S&P 500 sees weekly loss as Iran worries hang over market
U.S. stocks saw a mixed finish Friday, with the S&P...
U.S. stocks saw a mixed finish Friday, with the S&P 500 posting a small weekly decline, as investors tracked developments around the Iran-Israel conflict and the potential for direct U.S. involvement.
The Dow Jones Industrial Average finished with a gain of around 35 points, or 0.1%, near 42,207, according to preliminary data, leaving the blue-chip index marginally positive on the week.
The S&P 500 shed around 13 points, or 0.2%, to end near 5,968, for a weekly fall of 0.2%.
The Nasdaq Composite lost around 99 points, or 0.5%, to finish near 19,447, up 0.2% on the week.
U.S. markets were closed Thursday for the Juneteenth holiday, while so-called triple-witching — the simultaneous expiration of individual stock options, index-futures options and futures contracts — failed to produce a volatility spike in Friday's session.
The White House on Thursday said President Donald Trump would decide in two weeks whether to directly strike Iran. Oil futures pulled back, helping to calm fears around a potential energy price shock. However, strategists noted that investors are unlikely to shake those concerns as long as the Israel-Iran conflict continues.
Working natural gas in storage slowed its rise in the U.S. for the week...
Working natural gas in storage slowed its rise in the U.S. for the week ending June 13, resulting in a strong day on the Henry Hub for the commodity.
According to the U.S. Energy Information Administration’s (EIA) weekly storage report, U.S. stocks of working gas in the Lower 48 rose by 95 Bcf for the week—the first time in seven weeks the level did not increase by more than 100 Bcf. (The EIA released its report one day early because of the Juneteenth federal holiday.)
The deceleration, coupled with rising demand and the ongoing conflict between Israel and Iran, led to a bullish day on the market, according to a report from Natural Gas Intelligence.
Henry Hub front-month futures prices hit $4.08/MMBtu at 7:12 a.m. Central Time on June 20.
Since June 11, natural gas prices have trended upward as summer heat sets in.
According to EIA estimates, working gas in storage was 2.8 Tcf as of June 13. Stocks were 233 Bcf less than in the same period last year.
Chevron Enters US Lithium Sector with Smackover Acreage Deals
Chevron Corp. has entered the U.S. lithium...
Chevron Corp. has entered the U.S. lithium extraction sector by acquiring about 125,000 net acres in the Smackover Formation in two deals, the energy company said June 17.
One leasehold position was acquired from TerraVolta Resources, while the other was acquired from East Texas Natural Resources. Financial details of the transactions were not discussed. The acreage spans Northeast Texas and Southwest Arkansas, which has become a hotbed of activity for companies extracting lithium from brine.
Chevron joins peers Exxon Mobil Corp., Occidental Petroleum, and Equinor in the Smackover region. Here, oil and gas companies have been using their subsurface expertise to boost the domestic supply of the critical mineral used for electric vehicle batteries and energy storage systems, among other uses.
Chevron plans to use the direct lithium extraction (DLE) process to extract critical minerals from subsurface brines. Unlike traditional hard-rock mining or large-scale brine evaporation, the DLE method is considered more environmentally friendly as it takes up less land and requires less water. The process involves using adsorption, resin or membranes to extract lithium from brine. The emerging technology is also being used by several other companies, including Standard Lithium and its partner Equinor.
The conflict further intensified on its seventh day, with Israel hitting...
The conflict further intensified on its seventh day, with Israel hitting a nuclear facility in Iran, and Iran striking a major hospital in the south of Israel. Israel’s defense minister threatened Iran’s supreme leader Ayatollah Ali Khamenei, saying he “can no longer be allowed to exist.” Iran reportedly imposed a nationwide internet blackout to prevent Israeli cyberattacks, while several US-based airlines, including United and American, suspended flights to some parts of the Middle East as the conflict escalated. According to reports, President Trump has approved plans for an imminent US strike on Iran but has not yet given the final order.
