WTI Soars Nearly 3% on Trump’s Russia, Iran Threats
Late on Sunday, Trump warned that he could impose secondary...
Late on Sunday, Trump warned that he could impose secondary sanctions on Russia’s energy sector if the U.S. and Russia are unable to reach a ceasefire agreement regarding the war in Ukraine.
“If Russia and I are unable to agree to stop the violence in Ukraine, and if I believe Russia is responsible, which may not be the case, but if I believe they are to blame, I will impose secondary tariffs on all Russian oil exports,” Trump told NBC.
U.S. benchmark crude oil prices soared 2.65% on Monday, with West Texas Intermediate (WTI) hitting $71.20, up $1.84 at 11:47 a.m. ET on fears that Trump will follow through on more tariff threats for buyers of Russian oil, combined with the prospect of a military response to Iran.
Brent crude was also climbing on Monday, up 1.47% to $74.71.
Two geopolitical deals are in play here. The first is a ceasefire deal over Russia-Ukraine, and the second focuses on a new deal over Iran’s nuclear program.
The energy sector is seeing a surge in cyberattacks, with some incidents...
The energy sector is seeing a surge in cyberattacks, with some incidents linked to nation-state campaigns, according to Resecurity researchers. Hacktivism and espionage from actors in Iran, China and North Korea pose threats. Technological transformations such as cloud adoption and AI integration have made systems more vulnerable, researchers say.
Steel, aluminum tariffs threaten US LNG buildout plans
Soaring costs tied to US...
Soaring costs tied to US tariffs on foreign steel and aluminum are straining liquefied natural gas project budgets, raising liquefaction fees and forcing developers to renegotiate engineering, procurement and construction contracts. Analysts say the uncertainty surrounding US trade policy, especially the standoff with China, is beginning to disrupt project timelines and complicate long-term investment planning.
US could walk away from Ukraine-Russia peace talks, Trump warn
The president and Secretary of State Marco Rubio both ...
The president and Secretary of State Marco Rubio both said yesterday that if progress isn’t made soon, the US might stop trying to broker a deal to end the war Russia began when it invaded Ukraine. Rubio said that if things don’t move forward in the next few days, the US needs to “move on,” and Trump said that if “one of the two parties makes it very difficult,” the US would “take a pass.” However, President Trump noted that he still thought there was a good chance of a deal coming together. The administration did not clarify what, if any, support the US would continue to give Ukraine if talks fail.
US moves to charge Chinese ships docking fees in latest trade war play
The Trump administration ...
The Trump administration unveiled plans this week to charge Chinese-made ships docking at US ports in an effort to boost the domestic shipbuilding industry. China manufactures ~75% of all fleets, and the US government began investigating its ship-making dominance during the Biden administration. The recently announced plans for fees are less severe than what was originally proposed, as ships will be charged per voyage rather than for each port they dock in. The shipping industry had pushed back on the original proposal. China reportedly responded that even the less aggressive fees were “wrong,” and called on the US to stop “shifting blame.”
