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Oil in Global Economy Series

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A new oil order has emerged over the past few years as oil prices have taken a plunge of about 60%. U.S., world’s one of key importer is about to become a major exporter of hydrocarbons. OPEC cartel, which has historically been a key player politically and price maker, losing its relevance and pricing power. On the energy front, renewables and gas becoming key challenger to oil’s global dominance. Moreover, this lower price is hitting energy exporters harder, creating global economic vulnerabilities. This new oil price and geo-political order demand greater analysis, which is the main focus of this series.

Oil in Global Economy Series

Rising desertification shows we can’t keep farming with fossil fuels

Dec 13, 2024 05:36 am UTC| Insights & Views Business

Three-quarters of Earths land has become drier since 1990. Droughts come and go more often and more extreme with the incessant rise of greenhouse gas emissions over the last three decades but burning fossil fuels is...

Oil in Global Economy Series

Oil Prices Sink as Market Faces Supply Surplus and OPEC+ Pushes Back Production Hikes

Dec 06, 2024 21:59 pm UTC| Economy

Oil prices took a sharp dip Friday, with Brent crude falling to $71.12 per barrel and WTI to $67.20. Concerns over a supply surplus and weak global demand continued to pressure the market despite OPEC+ extending deep...

Oil in Global Economy Series

Global Geopolitics Series

Oil Prices Soar to 2-Week High as Russia Fires Hypersonic Missiles, Escalating Ukraine Conflict

Nov 22, 2024 21:22 pm UTC| Economy

Oil prices surged about 1% on Friday, hitting a two-week high as Russia escalated its war in Ukraine by deploying hypersonic missiles, amplifying geopolitical risks in the market. Brent crude settled at $75.17 per barrel,...

Oil in Global Economy Series

Oil Prices Steady Amid Global Tensions and Economic Signals from China and the U.S.

Nov 05, 2024 05:59 am UTC| Economy

Oil Prices Hold Steady After Recent Surge Oil prices stabilized in Asian trading on Tuesday, following sharp gains as investors await economic and political signals from the U.S. and China. This shift comes after the...

Oil in Global Economy Series

Oil Prices Rise Amid Middle East Tensions, Eye Weekly Gains Despite U.S. Inventory Build

Oct 25, 2024 06:14 am UTC| Economy

Oil Prices Rise Amid Middle East Tensions, Set for Weekly Gains Oil prices increased during Fridays Asian trading session, driven by concerns over escalating conflict in the Middle East. Israels vow to strike Iran...

Oil in Global Economy Series

OPEC+ 12월 원유 증산 계획 예정

Sep 26, 2024 23:49 pm UTC| Economy

OPEC+ 소식통에 따르면, 일부 회원국이 9월과 이후 달에 과잉 생산을 보상하기 위해 더 큰 감산을 시행할 계획이 있다면, 그 영향이 적을 것이기 때문에 OPEC+는 12월 원유 증산을 진행할 예정이라고 목요일 (현지시간)...

Oil in Global Economy Series

UK oil and gas workers risk becoming the ‘coal miners of our generation’

Sep 25, 2024 12:41 pm UTC| Insights & Views Business

At the end of September, the UKs last remaining coal power plant, Ratcliffe-on-Soar in Nottinghamshire, will be retired. The closure of the plant should and will be celebrated by environmentalists, as the move away from...

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Economy

US Stock Futures Flat as Iran Strait of Hormuz Demands Fuel Oil Concerns

U.S. stock futures were largely flat Sunday night as investors assessed renewed geopolitical risks surrounding the Strait of Hormuz, with Iran setting conditions for fully reopening the critical oil shipping route. SP 500...

Japan Posts First Current Account Deficit in 17 Months as Dividend Payments Surge

Japan recorded a current account deficit in June for the first time in 17 months, as rising dividend payments to overseas investors and higher oil import costs weighed on the countrys external balance. The current account...

China Inflation Cools in July as CPI Misses Forecast, PPI Deflation Eases

Chinas consumer inflation slowed more than expected in July, while factory-gate prices remained firmly in deflationary territory, highlighting continued weakness in domestic demand despite signs of improvement in the...

Australian Shares Fall as Westpac Slides, Miners Gain Ahead of RBA Decision

Australian shares moved lower on Monday as a sharp decline in Westpac Banking Corporation weighed on the financial sector, while gains in mining stocks helped limit broader market losses ahead of the Reserve Bank of...

US Dollar Near Two-Month Low as Markets Await Inflation Data

The U.S. dollar traded near a two-month low against major currencies on Monday as investors turned their attention to upcoming U.S. inflation data for fresh signals on the Federal Reserves interest rate outlook. The euro...

Politics

Taiwan Tests Penghu Defense, Mobile Internet Limits in War Drills

Taiwans military conducted a simulated defense of the strategically important Penghu Islands on Monday as part of its annual Han Kuang military exercises, while authorities prepared to restrict mobile internet speeds in a...

Iran-Oman Hormuz Shipping Deal Nears Final Stage

Iran said Sunday that an agreement with Oman establishing new shipping lanes in the Strait of Hormuz is nearing completion, but Tehran stressed that the crucial waterway will remain closed until the United States meets...

Germany Warns of Daily Hybrid Warfare Threats

Germany is facing foreign hybrid warfare operations on a daily basis, Interior Minister Alexander Dobrindt has warned after authorities discovered an explosive-carrying drone at Leipzig/Halle Airport. Dobrindt said hostile...

ICE to Complete Nationwide Body Camera Rollout by End of August

U.S. Immigration and Customs Enforcement (ICE) will equip all officers and agents working in the field with body-worn cameras by the end of August, accelerating a nationwide rollout that was initially expected to take...

Iran-Oman Near Strait of Hormuz Deal as Shipping Tensions Persist

Iran and Oman are nearing an agreement on shipping through the Strait of Hormuz, but Tehran says a bilateral deal alone will not be enough to fully reopen the critical global energy route. Iranian Foreign Minister Abbas...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

Nvidia Seen Beating Q2 Targets as Vera Rubin Cycle Begins

Nvidia (NVDA) could enter a multi-quarter growth cycle as shipments of its next-generation Vera Rubin AI chips begin, with BofA Global Research forecasting stronger-than-expected quarterly results and maintaining a bullish...

OpenAI Restricts Astra AI Over Cyberattack Risks

OpenAI has reportedly restricted parts of the development of its next-generation AI model, code-named Astra, after early evaluations indicated the system could potentially carry out sophisticated cyberattacks with limited...

Nvidia to Invest Up to $3 Billion in Blackstone-Backed Lancium

Nvidia is reportedly preparing to invest as much as $3 billion in Lancium, a Blackstone-backed power infrastructure developer involved in the Stargate artificial intelligence infrastructure initiative, as demand for...

Meta Ordered to Pay $567M Over Child Safety Violations in New Mexico

Meta Platforms Inc. has been ordered to pay $567 million into a fund designed to address harm to young people, in a major legal ruling involving child safety on Facebook and Instagram. Judge Bryan Biedscheid of New Mexicos...

Nintendo Shares Jump as Switch 2 Sales Boost Earnings

Nintendo shares surged nearly 5% on Friday after the Japanese gaming giant reported stronger-than-expected first-quarter earnings and upgraded its full-year financial outlook, supported by robust demand for the new Switch...