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.
Renewables more vulnerable to tariffs than oil and gas
US renewables have more...
US renewables have more exposure to tariff risks than fossil fuels, asserts Rystad Energy. One of the reasons is that 90% of oil and gas supply chain expenditures involve domestic components, compared to around 48% for solar. Oil and gas may be less exposed, but the situation still isn't good. "I don't see any scenario in which tariffs can end up being good for any sector," said Rystad's Claudio Galimberti.
Oil prices settle up at 2-week high as US, China ease tariffs
(Reuters) - Oil prices rose about 1.5% to settle at a...
(Reuters) - Oil prices rose about 1.5% to settle at a two-week high on Monday, after the U.S. and China agreed to temporarily slash tariffs, raising hopes of an end to the trade war between the world's two biggest economies.
Brent crude futures rose $1.05, or 1.6%, to $64.96 a barrel. U.S. West Texas Intermediate (WTI) crude gained 93 cents, or 1.5%, to settle at $61.95.
Both benchmarks notched their highest settlements since April 28.
U.S. stocks end sharply higher as U.S.-China trade tension eases
U.S. stocks traded sharply higher on Monday after the...
U.S. stocks traded sharply higher on Monday after the U.S. and China reached a deal to slash tariffs on each other for 90 days.
The Dow Jones Industrial Average went up 1,160.72 points or 2.8%, ending at 42,410.10.
The S&P 500 gained 184.28 points or 3.3% to finish at 58,444.19
The Nasdaq Composite rose 779.43 points or 4.4% to close at 18,708.34 for its fourth straight daily gain, exiting bear-market territory. Highlights:
🟢 The Dow exploded 1,000 points in pre-market trading, and the rally never waned. Both the Dow and the S&P 500 are nearly back to even for the year, while the Nasdaq clawed its way out of bear market territory.
🟢 Bonds tumbled while yields soared as the market pushed the timing for the Fed to cut interest rates back from July to September.
🟢 Gold sank as traders passed right on by the go-to investment for safety and sprinted straight toward equities.
🟢 Crude popped on the hopes of stronger economic growth for both the US and China now that the two countries are finally engaging in trade discussions.
