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On a weekly basis, Brent has plunged 8.3 per cent, while WTI is 7.6 per cent lower.Oil prices rose slightly on Friday after four straight sessions of declines but were on track for their steepest weekly decline since late June due to market expectations that the OPEC+ group could hike output further despite oversupply concerns. Brent crude futures gained 18 cents, or 0.3 per cent, to $64.29 a barrel by 0000 GMT. US West Texas Intermediate crude climbed by 19 cents, or 0.3 per cent, to $60.67 a barrel. If prices do not further recover in this session, Brent could…

Overall, India’s refined products exports rose 14% month-on-month to 1.59 million bpd in September.India is stepping in to plug fuel shortages in Russia’s key markets after Ukrainian drone strikes crippled parts of Moscow’s refining system, curtailing fuel exports.Private refiners Reliance Industries and Nayara Energy have ramped up supplies to Brazil, Turkey, the UAE and parts of Africa as these countries seek alternatives to Russian fuels. Moscow has prioritised its domestic fuel market, imposing export curbs to contain shortages at home, which cut product exports by an estimated 200,000 bpd in September, according to Kpler, a global real-time data and analytics…

Meta’s Superintelligence Labs is trying to speed up AI development by steering its teams toward new tools that allow developers to build and test products more quickly, according to internal memos obtained by Business Insider.The shift highlights the stakes of Meta CEO Mark Zuckerberg’s massive bet on AI. Over the past year, Meta has poured hundreds of millions of dollars into luring top researchers with nine-figure pay packages and reorganized its AI work under the new Meta Superintelligence Labs (MSL). Now, its new leaders are revamping the internal engineering tools that those teams use — a shift that underscores the…

Jakub Porzycki/NurPhoto via Getty Images 2025-10-03T00:20:53Z Share Facebook Email X LinkedIn Reddit Bluesky WhatsApp Copy link 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. Apple has removed the immigration enforcement tracking app ICEBlock from the App Store. The app allows users to monitor and track the location of immigration enforcement agents. In a statement to Business Insider, Apple said the app was removed due to “safety risks.” Apple…

Fresh off a $6.6 billion share sale that made it the world’s most valuable private company, OpenAI’s TikTok-style video app, powered by its new artificial intelligence model, Sora 2, is going viral. Despite the gated release that requires an invite code, the video creation tool has already shot to the number three spot on Apple’s App Store and sparked a wave of deepfakes, including a viral clip of CEO Sam Altman shoplifting GPUs.Internally, the rollout has reignited a long-running debate inside OpenAI about how to balance safety with creative freedom. A person familiar with internal strategy at the company said…

(BOE Report)– With the advice and technical support of three major pipeline companies, Alberta’s government, acting as proponent, will develop and submit a formal application for a project of national significance to the Federal Major Projects Office under the Building Canada Act. Indigenous communities in Alberta and British Columbia are being engaged from Day 1. Indigenous co-ownership, partnership and perspectives will be critical to every stage of project development and execution. The advisory group will undertake the early planning, technical assessment and application for an oil pipeline proposal to the northwest coast of British Columbia. When completed, the project will…

(World Oil)– EnerMech has won a significant contract to provide subsea pre-commissioning and specialist services for a major offshore gas development in Australia’s East Browse basin. The work will support the second phase of the project’s installation campaign, scheduled between October 2025 and April 2026. The contract scope includes riser and umbilical services such as flooding, top-up, and leak testing of flexible risers, along with post-loadout and post-installation testing of dynamic umbilicals. Offshore activity will center on a floating liquefied natural gas (FLNG) facility, with supporting work carried out across sites in Malaysia and Australia. “This is a significant gas…

Shares of USA Rare Earth jumped in extended trading Thursday, after CEO Barbara Humpton told CNBC that the rare earth miner is “in close communcation” with the White House.Humpton’s comment comes after the Trump administration took a 5% equity stake in Lithium Americas this week. The Defense Department took a 15% stake in rare earth miner MP Materials in July.”We are in close communication with the administration,” Humpton told CNBC’s Morgan Brennan when asked whether USA Rare Earth was interested in a deal with the Trump administration.Stock Chart IconStock chart iconUSA Rare Earth stock year to date. USA Rare Earth…

Testing Key Fibonacci Support By Thursday, crude oil slid further to test support at the 78.6% Fibonacci retracement near $60.64. For now, that level has contained the decline, though pressure remains as trading continues near the lows. If the June peak at $78.44 is considered the start of the current broader downswing, this latest retreat mirrors earlier aggressive phases of selling. The current sequence could represent only the beginning of another extended decline if momentum accelerates further. Measuring the Downswings The decline from last Friday’s high marks a drop of $6.13, or about -9.18%. That compares with a -17.1% decline…

(Investing.com)– Oil prices edged lower on Thursday, extending a run of declines into a fourth day, with Brent hitting its lowest since early June due to concerns about oversupply in the market.  fell 58 cents, or 0.9%, to $64.77 a barrel at 1309 GMT.  retreated by 57 cents, or 0.9%, to $61.21 a barrel, also around a four-month low. OPEC+ could agree to raise oil production by up to 500,000 barrels per day in November, triple the increase made for October, as Saudi Arabia seeks to reclaim market share, three sources familiar with the talks said. Jorge Montepeque, managing director at…