Oil settles higher as traders await Trump statement on Russia-Ukraine
Oil prices settled higher on Thursday, bouncing off early...
Oil prices settled higher on Thursday, bouncing off early losses after the White House said U.S. President Donald Trump was not happy when he learned that Russia attacked Ukraine with missiles and drones overnight.
Brent crude futures settled up 57 cents, or 0.8%, at $68.62 a barrel, while U.S. West Texas Intermediate crude futures rose 45 cents, or 0.7%, to close at $64.60 a barrel.
Russia hit Ukraine with deadly missiles and drone strikes early on Thursday, killing at least 21 people in Kyiv, city officials said. Meanwhile, the Ukrainian military said it used drones to hit two Russian oil refineries overnight.
Trump will make a statement on the situation later on Thursday, White House press secretary Karoline Leavitt told reporters. Both oil benchmarks were down about 1% earlier in the session, but turned positive after her comments.
Traders are also watching for India's response to pressure from the U.S. to stop buying Russian oil, after Trump doubled tariffs on imports from India to as much as 50% on Wednesday.
After expanding at an annualized rate of 12% from 2020 to 2024, US jet...
After expanding at an annualized rate of 12% from 2020 to 2024, US jet fuel consumption growth has slowed in 2025 as air travel demand eases and efficiency improves, according to the Energy Information Administration. The slowdown reflects weaker passenger volumes, economic headwinds and more fuel-efficient aircraft fleets, with the trend expected to continue through 2026.
Report: Tariffs could slow grid modernization, raise costs
New tariffs on steel, aluminum and copper could hinder the pace of grid...
New tariffs on steel, aluminum and copper could hinder the pace of grid modernization and clean energy projects, according to a report from Morningstar. The tariffs could increase the cost of transmission projects by up to 30%, potentially making some projects financially unviable, the analysts say. Tariffs also could lead to procurement delays and higher utility bills, posing challenges for state regulators and creating credit risks for utilities.
N.D. allocates $500M to jumpstart Bakken East Pipeline
North Dakota has committed $500 million over 10 years as an anchor shipper...
North Dakota has committed $500 million over 10 years as an anchor shipper on WBI Energy's Bakken East Pipeline, clearing the way for construction of the 1 Bcf/d line from the Bakken Shale to the state's eastern markets. The state's backing is intended to reduce risk for producers and industrial users hesitant to sign early contracts and provide a bridge until private shippers step in. Once online, the pipeline will ease gas takeaway constraints that have led to flaring and drilling curtailments, as well as reduce reliance on Canadian gas.
