Oil Prices Fall 2% to 2-Week Low as Trade War Concerns Dampen Demand Outlook
Oil prices fell about 2% to a two-week low on Tuesday...
Oil prices fell about 2% to a two-week low on Tuesday on expectations OPEC+ will boost output even as U.S. President Donald Trump's on-again off-again trade tariffs could reduce global economic growth and demand for the fuel.
Brent crude futuresfell by $1.61 to $64.25 per barrel, while U.S. West Texas Intermediate crudedropped by $1.63 to $60.42.
Trump's push to reshape world trade by imposing tariffs on imports into the U.S. has made it probable that the global economy will slip into recession this year, according to a majority of economists in a Reuters poll.
Improved market conditions boost Haynesville gas output
Haynesville Shale natural gas production has rebounded to 13.9 Bcf/d...
Haynesville Shale natural gas production has rebounded to 13.9 Bcf/d in recent weeks, the highest since last summer, as improved pricing and growing liquefied natural gas demand prompts operators to revive deferred wells. S&P Global Commodity Insights analysts expect low forward gas prices and operators' focus on capital discipline and shareholder returns to delay any substantial increase in drilling activity until the latter half of the year.
Woodside Reaches $17.5B FID on Louisiana LNG Development
Woodside Energy has reached a final investment decision (FID) to develop...
Woodside Energy has reached a final investment decision (FID) to develop the three-train 16.5 million tonne per annum (mtpa) Louisiana LNG facility, according to an April 28 press release.
The forecasted total capital expenditure (CAPEX) for the LNG project, pipeline, and management reserve is $17.5 billion, Australia-based Woodside said. Woodside said it is targeting its first LNG from the development in 2029.
Woodside acquired the LNG plant, which is located in Cameron Parish, Louisiana, in October 2024 through its $900 million buyout of Tellurian Inc. Bechtel is the primary engineering, procurement, and construction contractor on the project.
Louisiana LNG will enable the company to deliver approximately 24 mtpa from its global LNG portfolio in the 2030s and operate over 5% of global LNG supply, Woodside said.
At full capacity, Louisiana LNG is expected to generate approximately $2 billion of annual net operating cash in the 2030s, the release stated.
That means the former central banker will get to ...
That means the former central banker will get to keep his job as Canada's prime minister at an economically perilous time for the nation, which is reeling from President Trump’s trade war and his musings that it should become the 51st state. Carney’s path to victory was not always assured—his party trailed the Conservatives led by Pierre Poilievre when Carney’s predecessor, Justin Trudeau, stepped down. But as Canadians got their elbows up in response to threats from the US, they started to believe Carney was the man to take on Trump and keep the economy chugging, thereby boosting support for his party.
The power went out in Spain and Portugal. The blackout...
The power went out in Spain and Portugal. The blackout hit Spain and Portugal hard, snarling traffic as signal lights went out, forcing flight delays, and knocking out some cell service, with millions left without power and hospitals and businesses relying on backup generators for hours. Meanwhile, homes just over the Spanish border in France also lost power, but it was quickly restored there. As of yesterday, the exact source of the problem had not yet been determined, but authorities said that large oscillations in power caused the country to disconnect from Europe’s grid.
Russia’s Vladimir Putin declared a unilateral three-day ceasefire in the war in Ukraine next week to mark the anniversary of victory in World War II. Ukraine says it wants a longer truce to start immediately. The US is trying to push the two into a deal but has threatened to walk away.
Amazon launched its first internet satellites in a bid to compete with SpaceX’s Starlink.
Data from credit card issuers shows that wealthy US consumers are still spending big, but lower-income shoppers are pulling back, CNBC reports.
A $60 million jet fell off a US aircraft carrier and was lost at sea, the Navy said. The mishap came after the ship turned quickly to avoid fire from Houthi rebels.
The “grandpa robbers,” who allegedly stole from Kim Kardashian and held her at gunpoint during Paris Fashion Week in 2016, are on trial.
