Trump-Putin meeting: Here’s what their summit in Alaska could mean for oil prices
President Donald Trump is set to...
President Donald Trump is set to meet Russian President Vladimir Putin in Alaska on Friday, warning of “very severe consequences” if a Ukraine peace deal is not reached. The summit carries potential implications for global oil markets, which have remained sensitive to shifts in Russian supply since the invasion of Ukraine over three years ago.
Analysts see two broad scenarios. A constructive agreement with partial sanctions relief for Russian oil exports could increase supply expectations and drive crude prices lower, according to Capital.com’s Daniela Sabin Hathorn. Conversely, a breakdown in talks could trigger tighter U.S. and European sanctions, potentially targeting Russia’s shadow fleet or countries trading with Russia, leading to a price rally. ClearView Energy Partners’ Kevin Book noted significant barriers to restoring Russian energy flows, including multiple EU sanctions packages.
Trump framed the meeting as a precursor to a potential follow-up summit with Ukrainian President Volodymyr Zelensky, contingent on satisfactory outcomes. While geopolitical risk can influence oil prices, Book emphasized that markets remain skeptical, requiring substantial political momentum or tangible supply shifts for a lasting impact, given OPEC+’s contributions to current supply levels.
Oil majors renew exploration as energy transition slows
Major oil companies, including...
Major oil companies, including BP, Chevron, ExxonMobil, Shell and TotalEnergies, are ramping up their search for new oil and gas reserves after a period of focusing on renewables and cost-cutting. The renewed emphasis on exploration comes as executives prioritize expanding reserves, with BP planning to drill 40 wells over three years and recently announcing its largest discovery in 25 years.
A new report from the Electric Power Research Institute and Epoch projects...
A new report from the Electric Power Research Institute and Epoch projects that the power needed to train large AI models could climb from 100-150 megawatts per project today to more than 4 gigawatts each by 2030. Consequently, as computing clusters expand faster than efficiency gains, total US AI-related power capacity could grow tenfold to 50 gigawatts by 2030, exceeding 5% of national electricity generation. The surge will require new strategies for grid planning, permitting and infrastructure, such as geographically distributing training, the report notes.
Wis. considers merits of challenges to Line 5 reroute
Wisconsin officials have launched weeks-long proceedings to review challenges...
Wisconsin officials have launched weeks-long proceedings to review challenges to state permits for Enbridge's plan to reroute a 41-mile section of its Line 5 pipeline around the Bad River reservation. At a case hearing on Tuesday, opponents argued regulators failed to adequately evaluate environmental risks, a notion Enbridge countered by citing years of studies, strict permit conditions and route adjustments to limit impacts. The American Petroleum Institute and other supporters warned that shutting down Line 5 could disrupt propane supplies.
Perplexity offered to buy Google Chrome for $34.5 billion. The...
Perplexity offered to buy Google Chrome for $34.5 billion. The unsolicited offer from the AI upstart, which reportedly includes several other investors, is nearly double its own $18 billion valuation. Per the Wall Street Journal, Perplexity’s offer may not be a serious attempt to acquire Chrome, but rather a move to convince a federal judge to force Google to sell the web browser by showing that there would be interested parties. After ruling last year that Google operated an illegal search monopoly, the judge, Amit Mehta, is now deciding on an appropriate remedy, including the possibility of ordering that the tech giant break up its empire. Google has resisted calls to sell Chrome, which is believed to be worth between $20 billion and $50 billion.
Google is introducing a new feature that lets you choose the news outlets featured in the Top Stories search section.
The White House will conduct a review of the Smithsonian museums in order to “ensure alignment” with President Trump’s interpretation of history, the Wall Street Journal reported.
Vanity Fair is cutting reviews and laying off some staffers as it refocuses coverage, in one of the first moves by new Editorial Director Mark Guiducci.
President Trump criticized Goldman Sachs CEO David Solomon and said the bank should replace its chief economist for making a “bad prediction” about the economy.
Circle, a stablecoin company, reported a 53% increase in revenue to $658.1 million in its first earnings report as a public company.
Daniel Day-Lewis is set to return in his first movie since retiring eight years ago: the drama Anemone, directed by his son, Ronan Day-Lewis.
