Global oil supply glut looms as U.S. refineries reduce operations
Major U.S. refiners are planning to reduce operations, potentially leading to a global oversupply of crude oil and further weakening prices.
Natural gas prices hit record negative levels in West Texas
Natural gas prices at the Waha Hub in West Texas have been negative a record number of times so far this year due to oversupply issues.
Energy Market Implications of Uptick in US Inflation
A slight increase in US inflation is expected, but it's unlikely to deter a Federal Reserve rate cut in September, potentially impacting energy markets.
Lucid Motors Receives $1.5 Billion Lifeline from Saudi Arabia's PIF
Saudi Arabia's Public Investment Fund (PIF) has committed $1.5 billion to support struggling electric vehicle maker Lucid Motors.
Nuclear Arms Race Looms as US Confronts Two-Peer Problem
Experts warn of a new nuclear age as the US faces potential nuclear parity with both russia and China by 2035, prompting calls for strategic recalibration.
Electric Plane Concept Aims to Revolutionize Short-Haul Air Travel
Startup Elysian unveils plans for a battery-powered jet capable of carrying 90 passengers up to 500 miles on a single charge.
Ukraine Destroys Russian Su-34 Fighter-Bomber in Airbase Strike
Ukraine's military intelligence agency reported the destruction of one Su-34 fighter-bomber and potential damage to two others in a strike on russia's Morozovsk airbase.
Nvidia AI Chips Reach Chinese Military Despite US Export Controls
A black market for advanced Nvidia AI chips is thriving in China, circumventing US export restrictions and potentially aiding Chinese military modernization.
Chevron Relocates Headquarters to Texas, Following Industry Trend
Energy giant Chevron announces plans to move its headquarters from California to Texas, joining a growing list of companies seeking more favorable business conditions.