Crude Oil Climbs More Than $1.60 a Barrel on Tariff Cuts, Economic Outlook
Crude oil futures climbed more than $1.60 a barrel on Tuesday, lifted...
Crude oil futures climbed more than $1.60 a barrel on Tuesday, lifted by a temporary cut in U.S.-China tariffs and a better-than-expected inflation report.
Brent crude futures settled at $66.63 a barrel, up $1.67, or 2.57%. U.S. West Texas Intermediate (WTI) crude finished at $63.67, up $1.72or 2.78%.
The two benchmarks rose by about 4% or more in the previous session after the U.S. and China agreed on sharp reductions to their import tariffs for at least 90 days, which also boosted stocks on Wall Street and the dollar.
"We didn't participate as much as other markets did yesterday in the China boom, so we're catching up today," said John Kilduff, a partner with Again Capital LLC. "Also the data this morning gives the Fed room to potentially begin making some moves."
NRG Stock Soars on $12B NatGas Power Plant Fleet Acquisition
NRG Energy is buying a fleet of natural gas-fired power plants in a $12...
NRG Energy is buying a fleet of natural gas-fired power plants in a $12 billion cash-and-stock transaction. The deal is expected to close in the first quarter of 2026.
The deal comes as natural gas producers and power generators are excited about growing electricity demand across the U.S. NRG shares were up over 24% in afternoon trading on May 12.
NRG’s acquisition from LS Power Equity Advisors includes 18 power facilities totaling 13 gigawatts (GW) of generation capacity, the companies said May 12. The assets are located across nine states, including the Northeast and Texas, and double NRG’s generating capacity to 25 GW.
The consideration includes $6.4 billion of cash, $2.8 billion in stock to LS Power, and $3.2 billion of assumed net debt. The combination is expected to generate $400 million in tax credits.
After closing, LS Power will own around 11% of the pro forma NRG shares outstanding. The company has committed to a six-month lock-up period regarding its NRG equity ownership.
Supply chain constraints, rising labor and material costs and looming...
Supply chain constraints, rising labor and material costs and looming EU methane standards are complicating the US liquefied natural gas industry's expansion plans and ability to meet rising European demand, attendees said at a recent industry event. Developers are pursuing third-party emission certifications to align with new EU regulations while also contending with domestic policy barriers, such as tariffs on imported steel and aluminum and forthcoming requirements to ship more LNG on US-built vessels.
US natural gas liquids exports reached a record 2.9 million barrels per...
US natural gas liquids exports reached a record 2.9 million barrels per day in April despite a trade war with China, which imposed and then quietly waived a 125% tariff on US ethane. Other countries, including India, Brazil and Japan, increased imports significantly.
Trump says it would be “stupid” not to accept plane from...
Trump says it would be “stupid” not to accept plane from Qatar. The president brushed aside ethical concerns raised by Democrats over the Qatari royal family’s offer of a Boeing 747 jet to use as Air Force One, responding to reporters’ questions about whether he’d accept the luxury aircraft by saying, “I could be a stupid person and say, ‘No, we don’t want a free, very expensive airplane.’ But it was, I thought it was a great gesture.” President Trump also said he didn’t plan to keep using the plane after leaving office, and noted that it would be a gift not to him personally, but to the Department of Defense. Although he plans to visit Qatar this week as part of an economic-focused tour through the region, the plane is not expected to change hands during his trip.
Fifty-nine white South African refugees arrived in the US yesterday, representing the first of a group the Trump administration has welcomed, saying they face racial discrimination and genocide—something their government denies—even as it has paused other refugee resettlement programs.
Hamas released Edan Alexander, an Israeli-American soldier who was believed to be the last living American hostage being held in Gaza. The group said the release was part of an effort toward a ceasefire with Israel, though Israel—which has been blocking aid, including food, from entering Gaza—said it had not agreed to one.
The PKK, a militant Kurdish group that has been in conflict with Turkey for decades, said it would disband and end its insurgency.
Perplexity AI is in late-stage talks to raise $500 million at a $14 billion valuation, per CNBC.
A login glitch kept some Fidelity customers out of their accounts yesterday, so they couldn’t trade as the market rallied.
AMC is hoping to lure moviegoers with 50% off tickets on Wednesdays, if you’re looking for a cheap midweek date activity.
