Author: omc_admin

(Investing) – NEW YORK  -Oil prices rose on Thursday with investors focused on market fundamentals as crude and fuel inventories fell in the U.S. and the dollar sank to a multi-year low, while the market remained cautious about the Iran-Israel ceasefire.  futures were up $1.15, or 1.7%, to $68.83 a barrel at 11:37 a.m. EDT (1637 GMT). U.S. West Texas Intermediate crude was up $1.32, or 2.03%, to $66.24 a barrel. Both benchmarks climbed nearly 1% on Wednesday, recovering from losses earlier in the week after data showed resilient U.S. demand. Brent futures are trading below their close of $69.36 on…

(Bloomberg) — Tokyo Gas Co. is in discussions with multiple U.S. liquefied natural gas suppliers to secure a long-term purchase agreement, as rising energy demand leaves Japan increasingly dependent on the fuel source. Dominion Cove Point LNG site Japan’s largest gas distributor is in talks with at least four companies over supply from projects dotting the U.S. Gulf Coast, according to people with knowledge of the matter. The exporters include Energy Transfer LP and Commonwealth, according to the people, who asked not to be named because the information is private.  Tokyo Gas is considering various projects, including U.S.…

The Sonos Ace are the popular audio brand’s first pair of wireless headphones. They offer impressive performance with features that go toe-to-toe with some of the best over-ear headphones from Bose and Sony. But while the Ace stack up well against the competition, they don’t do a whole lot to truly stand out from the pack. Many fans of Sonos’ wireless speakers were hoping that the Ace would distinguish themselves by supporting WiFi music streaming, but this ended up being wishful thinking. These headphones are limited to Bluetooth, just like their main rivals. Ultimately, the Ace’s biggest selling point might…

The Trump administration has eased recent export limits on a critical petroleum product that’s used to make plastics — a shift that represents a modest pullback on curbs used as leverage in trade negotiations with China.  Under the change, Enterprise Products Partners LP and Energy Transfer LP are being allowed to load that gas, known as ethane, onto tankers and transport it to Chinese ports. However, they are still barred from unloading that cargo for use by Chinese entities, said people familiar with the matter who asked not to be named.  Enterprise Products “may not complete” ethane exports to Chinese…

Trend Channels Provide Clues The decline completed a 127.2% Fibonacci extension of the 2023 rally and bounced off support of a declining lower trend channel line. Once a reversal occurs from one side of the channel, there is the potential for a move to the other side. That process was completed relatively quickly last Friday, as the top channel line (solid blue) was exceeded and the week ended right at the top channel trendline, indicating that the market recognized the price area. Downward Pressure Remains An attempt at a one-day bullish reversal was made today, but it is currently showing…

In a move with significant implications for transcontinental energy trade, the UK government has formally withdrawn support for the $34.4-billion Morocco-UK Power Project, a mega-renewables plan that would have delivered solar and wind electricity via a 3,800 km undersea cable from the Sahara Desert to Devon, Reuters reports. The project, led by British firm Xlinks and backed by TAQA, Octopus Energy, and TotalEnergies, aimed to supply 8% of the UK’s electricity needs, enough for over 7 million homes, with zero-carbon power. But Energy Minister Michael Shanks told Parliament on Wednesday that the UK’s revised energy security strategy prioritizes “domestic renewables with…

Marc Benioff is all in on AI at Salesforce, and he said it’s working with grade-A accuracy.The 60-year-old Salesforce founder and CEO told Bloomberg’s Emily Chang that the company is having “hundreds of thousands” of AI conversations with customers, and they are 93% accurate.”Even for a large brand or a large company that we work with, like Disney, it’s about 93%,” Benioff said in the interview published Thursday.In February, Benioff told investors that Agentforce, Salesforce’s platform for building AI agents, was seeing “amazing results” in resolving tens of thousands of customer service queries. It allows “human employees to focus on…

Microsoft transferred its chief information security officer out of the company’s security organization, in a move that hints at the growing importance of artificial intelligence at the software giant.As CISO, Igor Tsyganskiy, is responsible for securing Microsoft’s own business, and setting cybersecurity standards across the company.He will now report to EVP Scott Guthrie, who runs Microsoft’s Cloud + AI group. This is the organization that runs important business like Microsoft’s Azure cloud and the teams that help OpenAI and other AI companies develop and run giant AI models and chatbots in the cloud.”As we continue to navigate increasingly complex global…

(World Oil) –  (Bloomberg) — Shell Plc denied a Wall Street Journal report that it is in active talks about acquiring its London-based oil rival bp Plc. “This is further market speculation. No talks are taking place,” a Shell spokesperson said. bp surged as much as 10% in New York earlier on Wednesday on the report that it was in early-stage takeover talks with Shell. Shares of the company erased most of those gains to trade 1.2% higher as of 12:44 p.m. local time. bp has been under intense pressure after years of poor performance and the intervention of activist…

Piotr Swiat | Lightrocket | Getty ImagesCore Scientific shares surged 35% on Thursday following a report from The Wall Street Journal that artificial intelligence infrastructure vendor CoreWeave is in talks to acquire the bitcoin mining and hosting provider.The company’s stock was briefly halted after the report, and then proceeded to have its second-sharpest rally since Core Scientific returned to the Nasdaq in January 2024 after completing a reorganization. Its biggest one-day gain came last June, when the shares popped 40% on news that the company would significantly expand its AI business with CoreWeave.The Journal reported, citing people familiar with the…