Brent traded around $65 a barrel and was on track for its first weekly gain since mid-May, while West Texas Intermediate was near $63. President Donald Trump and his Chinese counterpart, Xi Jinping, agreed to further trade talks aimed at resolving disputes over tariffs and supplies of rare earth minerals.
“In the short term, the market shows a slightly bullish trend amid volatility,” said Gao Mingyu, Beijing-based chief energy analyst at SDIC Essence Futures Co. “But OPEC+’s rapid output increase makes it difficult for the supply-demand tightness that’s driven by seasonal and geopolitical factors to persist.”
Hawley later said he supports the House bill’s work requirements, as well as efforts to go after fraud, but opposes that measure’s changes to the Medicaid provider tax and cost sharing. The House legislation seeks to limit a practice whereby states tax hospitals and other Medicaid providers in order to bolster their federal reimbursement levels, […]
Electric trucks accounted for 22% of light-duty commercial vehicle sales in April, from 13% in the same month last year, according to BloombergNEF. For bigger rigs, the increase is even more pronounced, with sales trebling to 15% of the total. Diesel demand is being menaced on two fronts, as liquefied natural gas had already been […]
The latest OPEC+ policy shift began on April 3, when Saudi Arabia and seven other OPEC+ nations stunned oil markets with the announcement of a supply hike for May of 411,000 barrels a day — triple the scheduled amount. The decision came even as global markets buckled amid faltering Chinese demand and Trump’s trade war, […]
Brent crude for August rose as much as 2.1% to $64.09 a barrel, after losing 2.2% last week, while West Texas Intermediate was below $62. The Organization of the Petroleum Exporting Countries and its allies agreed on Saturday to add 411,000 barrels a day of supply in July, according to a statement.
Lee, a member of the opposition Democratic Party, unveiled an “energy expressway” policy framework that relies on renewables, like offshore wind, to supply industrial hubs. His strategy calls for phasing out coal by 2040, curbing consumption of natural gas, and forming a ministry tasked with meeting South Korea’s 2050 net zero goal.
Professional dancer Yim Young-hwan, who was hired by the liberal party to join the campaign, has choreographed several of the performances. The dance routines are deliberately simple, with occasional flourishes to grab attention, and to make it easy for people to follow. “We wanted people to say, ‘Wow,’ when they saw us,” Yim said.
“I hope, as a consumer and a fan of the American car, we can have a lower tariff on US cars,” he said. He said the auto sector isn’t a strategic one for Taiwan and shouldn’t hinder talks with Washington. “I’m very optimistic about the negotiation between the US and Taiwan, especially when it comes […]
Consumer prices excluding fresh food rose 3.6% in the capital in May from a year earlier, accelerating from 3.4% in April, the Ministry of Internal Affairs said Friday. The increase, which outpaced economists’ median forecast of a 3.5% gain, was the biggest since January 2023. Overall inflation came to 3.4%, matching a revised 3.4% in […]