Trump prioritizes protectionism over inflation control
Donald Trump's economic agenda prioritizes protectionism and isolationism,...
Donald Trump's economic agenda prioritizes protectionism and isolationism, with a focus on promoting manufacturing and imposing tariffs. These policies are expected to raise costs and challenge the Federal Reserve's ability to manage interest rates, potentially leading to higher inflation.
Chevron-led JV plans gas-fired power for data centers
Chevron, Engine No. 1 and GE Vernova have formed a joint venture to develop...
Chevron, Engine No. 1 and GE Vernova have formed a joint venture to develop natural gas power plants co-located with data centers in the US Southeast, Midwest and West. Branded as "power foundries," the projects could supply up to 4 gigawatts and launch initial operations by the of 2027, with potential for expansion to support growing AI-driven energy demand.
The Federal Reserve presses pause on interest rate cuts. After ...
The Federal Reserve presses pause on interest rate cuts. After the Fed meeting yesterday, Chair Jerome Powell said the current target range of 4.25% to 4.5% is staying put for now. He explained that the central bank would need to see “real progress on inflation or some weakness in the labor market before we consider making adjustments” and insisted that he was in no rush to change course. Following the three meetings before this one, the Fed had lowered interest rates. Powell also revealed that he had not communicated with President Trump since he demanded interest rates come down immediately in Davos. The Fed chair declined to comment on that episode but said the public should be confident in the Fed “focusing on using our tools to achieve our goals and really keeping our heads down and doing our work.
The Trump administration scrapped its federal grants freeze after causing great confusion with it.
Former Sen. Bob Menendez, Democrat of NJ, was sentenced to 11 years in prison for bribery and corruption charges.
Hamas will free three Israelis and five Thais in a hostage release today.
Logitech will release a device that allows employers to invisibly track if people are in the office.
The EIA reported Wednesday that commercial crude inventories...
The EIA reported Wednesday that commercial crude inventories climbed by 3.5 million barrels for the week that ended Jan. 24. That was the first weekly increase in 10 weeks, though domestic production edged lower.
The data were expected to show a crude supply climb of 2.6 million barrels on average, according to a survey of analysts conducted by S&P Global Commodity Insights. Late Tuesday, the American Petroleum Institute reported a crude inventory gain of 2.9 million barrels, according to a source citing the data.
Total domestic oil production fell by 237,000 barrels per day to 13.24 million bpd, the EIA said. Crude stocks at the Cushing, Okla., Nymex delivery hub added 300,000 barrels to 21 million barrels.
The report also showed a weekly supply increase of 3 million barrels for gasoline, while distillate inventories fell by 5 million barrels. The survey forecast an inventory increase of 1.4 million barrels for gasoline and a supply decline of 2.4 million barrels for distillates.
Demand for gasoline rose, with total finished motor gasoline supplied, a proxy for demand, at 8.302 million barrels per day in the latest week, versus 8.086 million bpd from a week earlier.
Oil prices end lower as U.S. crude supplies post first weekly rise in 10 weeks
U.S. oil futures on Wednesday marked their lowest settlement...
U.S. oil futures on Wednesday marked their lowest settlement price of the year so far after official data revealed a weekly rise in commercial crude inventories following nine consecutive weekly declines.
Oil traders, meanwhile, continued to weigh the outlook for demand — and the possibility that President Donald Trump will implement tariffs as soon as this weekend on Canada and Mexico that may disrupt the flow of crude supplies.
West Texas Intermediate crude for March delivery fell $1.15, or 1.6%, to settle at $72.62 a barrel on the New York Mercantile Exchange, the lowest front-month finish since Dec. 31, according to Dow Jones Market Data.
March Brent crude the global benchmark, lost 91 cents, or 1.2%, to $76.58 a barrel on ICE Futures Europe. The more actively traded April contract declined by 88 cents, or nearly 1.2%, to $75.61 a barrel.
February gasoline settled 0.8% lower at $2.04 a gallon, while February heating oil added 0.2% to $2.45 a gallon.
Natural gas for February delivery ended at $3.54 per million British thermal units, up 1.8% on the contract’s expiration day. The March contract which is now the front month, added 1.5% to settle at $3.17.
