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Crude oil prices extended their latest decline today, looking set for a monthly drop that, according to Reuters, will be the deepest in three years.At the time of writing, Brent crude was trading at $63.46 per barrel, with West Texas Intermediate at $59.68 per barrel. Since the start of the month, the benchmarks have lost between 15% and 16%, Reuters reported. This is the deepest dive since November 2021.Trump’s tariff offensive seems to be the chief reason for the price decline, with virtually every analyst and economist predicting global economic trouble because of the tariffs. The predictions naturally affect oil…

Fruits While the large majority of apples (95 percent) and oranges (80 percent) are grown domestically, especially in the US states of Washington, California and Florida, tropical fruits like bananas (one percent domestically grown), pineapples (10 percent), and avocados (10 percent) are primarily imported from countries like Ecuador, Costa Rica and Mexico. Vegetables Similarly, the majority of common vegetables, including corn (99 percent), potatoes (95 percent), pumpkins (95 percent) and beans (80 percent), are predominantly produced in the US, particularly in states like Iowa, Idaho, Illinois and Nebraska. These states are renowned for their extensive agricultural output, with Iowa and…

Koch Industries will exit the oil and fuels trading business to focus on “other, more customer-oriented trading activities,” a spokesperson for Koch Minerals & Trading, a division of the industrial conglomerate, said, as quoted by Reuters.Bloomberg reported that the company was going to expand in metals, maritime transport, and natural gas related products, citing a letter by company executives.Last November, Reuters reported that Koch was laying off people at the oil and fuels trading division. The layoffs were being made in the United States and other locations of the company around the world.Besides oil and fuels, Koch Industries trades in…

On March 25, 2025, Energy NL wrote the three major federal parties requesting their responses to questions of importance to the Newfoundland and Labrador energy industry and their approach to developing Newfoundland and Labrador’s energy sector. As the requested deadline for responses has passed, Energy NL is providing details on responses received from two of the parties. “Energy NL thanks the New Democratic Party of Canada (NDP) and the Conservative Party of Canada (CPC) for sharing their responses to our initial letter penned March 25, 2025,” commented Charlene Johnson, Energy NL CEO. “The purpose of this letter was…

New Delhi: Indian Oil Corp, the country’s top refiner, has agreed to a five-year liquefied natural gas (LNG) import deal with trader Trafigura, with prices linked to the U.S. Henry Hub benchmark, three trade sources said on Wednesday.Trafigura will supply three to four LNG cargoes this year and six cargoes annually from next year, said one of the sources. No immediate comment was available from Trafigura and Indian Oil.India is looking to raise its imports of U.S. energy to fix its trade balance with the world’s top economy and traders are looking to reroute some of the LNG meant for…

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(Bloomberg) – Brazil’s oil regulator is set to grant exploration rights in a promising offshore region where state-controlled oil producer Petrobras has faced a years-long dispute with environmental authorities to start drilling. An auction taking place June 17 will include areas in five sedimentary basins, including the Potiguar and the Foz do Amazonas, in deepwater near the equator, regulator ANP confirmed Monday. Both areas are in the wider region known as the Equatorial Margin, where the oil industry sees the best chances for Brazil to replenish oil reserves that otherwise will start declining in the 2030s.  Brazil will offer 173…

The summer conditions south Asian countries dread each year have arrived alarmingly early, and it’s only April. Much of India and Pakistan is already sweltering in heatwave conditions, in what scientists say is fast becoming the “new normal”.Temperatures in the region typically climb through May, peaking in June before the monsoon brings relief. But this year, the heat has come early. “As far as Asia and the Indian subcontinent are concerned, there was a quick transition from a short window of spring conditions to summer-like heat,” said GP Sharma, the meteorology president of Skymet, India’s leading private forecaster.South Asia, home…

India’s oil consumption, alongside China, Indonesia and Vietnam, is expected to be adversely impacted by the economic fallout of escalating trade tensions, said the World Bank on Tuesday.Globally, oil consumption is anticipated to rise by just 0.7 million barrels per day in both 2025 and 2026, which is around half of the average annual growth between 2015 and 2019.The World Bank also expects Brent oil price to average $64/bbl in 2025, and further decline to $60/bbl in 2026, due to slower global economic growth amidst rising trade tensions and uncertainty.”Higher commodity prices have been a boon for many developing economies,…

Mumbai | New Delhi: Anglo-Dutch oil firm Shell Plc’s plan to sell its Indian renewable energy platform Sprng Energy has hit a roadblock due to tepid responses, said multiple people aware of the matter. Shell’s discussions with various strategic investors took a backseat due to valuation mismatches, they said.Shell was in discussion with Mumbai-based Sekura Energy, the Edelweiss Alternatives-owned energy platform, to sell a 300-MW portfolio at a ₹1,200 crore enterprise value, ET reported in January. The talks didn’t materialise due to a valuation mismatch and the proposed deal got called off.There was a gap of about 15-20 per cent…