OklahomaMinerals.com

Snippets

• ☕️What Else is Brewing Tuesday Morning
  Trump announces 25% tariff on countries that buy Venezuelan oil...
  Trump announces 25% tariff on countries that buy Venezuelan oil and gas. As of April 2, a day President Trump has dubbed “Liberation Day” for the economy, countries that buy oil from Venezuela will have to pay an additional 25% tariff on trade with the United States, the president said on Truth Social. Precisely what other tariffs might go into effect that day remains unclear. News outlets reported that the president would not impose blanket tariffs but would focus on more industry-specific ones, and even though reciprocal tariffs are still on the menu, there might be exemptions for some countries. But officials cautioned that the situation could still change. The president also said additional tariffs on cars and pharmaceuticals would be coming soon.
  
  A federal judge refused to lift his order barring the government from deporting anyone under the rarely used Alien Enemies Act, which the Trump administration invoked to deport alleged Venezuelan gang members. An appeals court also held a hearing on the issue during which one judge said “Nazis got better treatment” under the act than the people who were recently deported, since the former got hearings.
  
  Chinese EV-maker BYD made more than $100 billion in sales last year for the first time.
  
  Turkish authorities arrested more than 1,100 people, including journalists, amid protests over the decision to jail a political rival of President Recep Tayyip Erdoğan.
  
  South Korea’s Hyundai plans to invest ~$21 billion in the US, including $5.8 billion towards a steel plant in Louisiana.
  
  Mia Love, the first Black Republican woman elected to Congress, has died of cancer at age 49.
  
  Warren Buffett will pay $1 million to an employee who won his company’s March Madness bracket challenge—which Buffett made easier this year in hopes of having a winner—by correctly calling 31 of the 32 games in the first round of the men’s tournament.
  Read More
• Oil prices finish higher after Trump's threat to buyers of crude from Venezuela
  Oil futures settled higher on Monday after President...

  Oil futures settled higher on Monday after President Donald Trump said in a Truth Social post that countries that purchase oil from Venezuela will face a 25% tariff on all of their imports to the U.S. starting April 2. He also imposed new tariffs on Venezuela, according to the Associated Press.

  
  

  The decision to impose tariffs on buyers of crude from Venezuela is "based on the alleged arrival of tens of thousands of Venezuelan migrants with violent backgrounds, which has been presented as a threat to U.S. national security," said Antonio Di Giacomo, a financial markets analyst at XS.

  
  

  He said the impact on the energy market was immediate. Prices climbed Monday, with the May contract for West Texas Intermediate crude up 83 cents, or 1.2%, to settle at $69.11 a barrel on the New York Mercantile Exchange. May Brent crude settled at $73 on ICE Futures Europe, up 84 cents, or 1.2%.

  Read More
• U.S. stocks end sharply higher
  Stocks jumped Monday on optimism that President Donald...

  Stocks jumped Monday on optimism that President Donald Trump may hold back from implementing some of his wide-ranging tariff plans and so the U.S. could skirt an economic slowdown from a protracted trade war.

  
  

  The Dow Jones Industrial Average jumped 597.97 points, or 1.42%, to end at 42,583.32. The S&P 500 added 1.76% and closed at 5,767.57, while the tech-heavy Nasdaq Composite gained 2.27% to settle at 18,188.59.

  
  

  Shares of Tesla which have fallen nine straight weeks, were up nearly 12%, adding to their Friday gains. Meta Platforms and Nvidia each climbed more than 3%.

  Read More
• As Stock Market Swoons Amid Tariff Fallout, Natural Gas Futures Prove Safe Haven
  Despite spring weather and rapidly fading heating demand, natural gas futures hold strong at winter price...
  Despite spring weather and rapidly fading heating demand, natural gas futures hold strong at winter price levels.
  
  To be sure, seasonally soft supply in storage and record levels of export demand are key drivers. However, traders said a stock market slump has proved to be another bullish factor for natural gas prices over the past month.
  
  
  Read More
• Phillips 66's Lake Charles refinery may get $99M upgrade
  Phillips 66 is pursuing a $99 million expansion of its 264,000-barrel-per-day...
  Phillips 66 is pursuing a $99 million expansion of its 264,000-barrel-per-day Lake Charles refinery in Louisiana, with proposed upgrades ranging from a steam turbine power generator to a naphtha fractionator. The project, under review for state tax incentives, could be finalized in late 2027.
  Read More

• Prev
• Next