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Oil prices fell sharply in early Asian trade on Thursday, with both major crude benchmarks retreating by around 3 percent as markets reacted to comments from U.S. President Donald Trump that appeared to lessen the likelihood of an imminent U.S. military strike on Iran.At the time of writing, WTI crude was down $1.86, or 3.00 percent, at $60.16 per barrel, while Brent crude stood at $64.57, down $1.95, or 2.93 percent on the day. This drop in prices represents a significant reversal from earlier in the week when geopolitical risk sent prices climbing aggressively.Trump’s claim that he had been told…
Oil major BP expects significant impairments. The company is shifting focus back to oil and gas. This move aims to boost returns under new leadership. Oil major BP expects to book $4 billion to $5 billion in fourth-quarter impairments, mainly tied to its low-carbon energy businesses, as it redirects spending to oil and gas to boost returns under new leadership including Chair Albert Manifold. The British company said in a trading statement on Wednesday ahead of results on February 10 that the impairments are excluded from underlying replacement cost profit, its version of net income. A spokesperson declined to say…
A S Sahney, Chairman, IndianOil.Indian Oil Corporation (IOC) is aiming to strengthen its non-fuel business and targeting an increase in the share of revenue from gas, petrochemicals, lubricants and renewables to 20-30 per cent by 2030, up from around 10 per cent now, said chairman AS Sahney. In an interview to Sanjeev Choudhary, he said this shift would expand the non-fuel business to ₹2-3 lakh crore from about ₹70,000 crore at present.Asked about the unease in parts of the organisation over cost cuts, Sahney said the tightening was aimed at trimming excesses, not essentials, and the cost-discipline drive had already…
Thomas Trutschel/Photothek via Getty Images 2026-01-15T01:17:33.978Z Share Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Grok will no longer be allowed to create AI photos of real people in sexualized or revealing clothing, after widespread global backlash.”We have implemented technological measures to prevent the Grok account from allowing the editing of images of real people in revealing clothing such…
On October 3, Irem Sumer signed a document that team leaders of nerdy crews worldwide dream of inking: a term sheet that raised $30 million in Series A funding for her Istanbul-based game company, Talemonster Games.Less than 24 hours later, Sumer, the startup’s CEO, was signing another important document — her marriage license.”It was the most chaotic two weeks of my life,” Sumer told Business Insider, adding that at one point, she told her then-fiancé that wedding planning would be left to him, and she’d just show up to get married.That day in October capped off two years of work…
(Investing) – LONDON – Dozens of commercial ships have dropped anchor at a distance outside Iran’s port limits in recent days, according to data and shipping sources, as tensions with the United States grow. Such movements were precautionary given the tensions amid ongoing protests in Iran, the shipping sources said. Port limits are significant because they run a higher risk of collateral damage in the event of air strikes on nearby infrastructure. The U.S. is withdrawing some personnel from bases in the Middle East, a U.S. official said on Wednesday, after a senior Iranian official said Tehran had warned its neighbours…
(WO) – Oil-Royalties has released an overview outlining how its Virtual Auction Marketplace is changing how buyers evaluate and acquire U.S. oil and gas royalty interests, as investors increasingly seek more transparent and standardized transaction processes. The platform, operated by Oil-Royalties, uses a rules-based, fully digital auction model designed to reduce information gaps that have historically characterized royalty transactions. All assets listed on the marketplace are presented using standardized data formats, consistent valuation inputs and uniform bidding rules, according to the company. Founder and Chief Executive Ronald Achs said the model addresses long-standing challenges in royalty acquisitions, including inconsistent disclosures…
Samsung’s Galaxy Ring, released in April 2024, marks the brand’s first entry into the smart ring market, offering a slim titanium design, solid battery life, and seamless integration with the Galaxy ecosystem.After wearing it for two months, I can attest that it’s a comfortable, minimalist, well-made ring that nails the basics and has a few clever touches. However, when it comes to health insights and fitness tracking, it feels more like a companion to the Galaxy Watch than a true rival to category leaders like the Oura Ring 4.Here’s everything the Galaxy Ring gets right and where it falls short.…
(World Oil) – Energy Workforce & Technology Council said U.S. oilfield services employment edged lower in December 2025, closing out a year marked by workforce adjustment and market uncertainty. Energy services employment totaled 629,372 jobs in December, down 184 positions from November, according to preliminary data from the Bureau of Labor Statistics and EWTC analysis. The December figures cap a year in which employment peaked at just over 640,000 jobs in April before trending lower through the second half of 2025. By year-end, oilfield services employment was roughly 11,000 jobs below its spring high, representing a year-over-year decline of about 2.3% compared with…
As backlash intensifies against data centers nationwide, Microsoft says it has a plan.”We’ll pay our way to ensure our datacenters don’t increase your electricity prices,” Brad Smith, Microsoft’s president, wrote in a blog post one day after President Trump said in a Truth Social post that he does not want Americans to “pick up the tab” for data center electricity costs. Microsoft, he said, was “first up.”The announcement comes amid an unprecedented data center construction boom across the US. Developers filed permits for 1,240 data centers in the US as of 2024 — roughly quadruple the level in 2010, according…