Author: omc_admin
(Bloomberg) – Oil was steady as the market weighed the prospect for easing trade tensions between the European Union and the U.S. ahead of an OPEC+ meeting on supply policy. Brent traded below $65/bbl, after a quiet session on Monday, due to holidays in London and New York. Brussels has agreed to accelerate trade talks with the U.S., just days after comments from President Donald Trump. Global markets have been rattled by Trump’s tariffs and retaliatory measures from targeted countries, including China. The U.S. President also said he’s considering new sanctions against Russia, after a large drone attack on Ukraine in recent days. Oil has trended…
OPEC+ will press on with its plan to increase its oil production quotas for the month of July, anonymous sources have told Reuters—with the group staying the course despite the low oil price environment.OPEC has long argued that it makes output decisions based on supply and demand expectations—not oil prices.The group is planning to meet on Wednesday, with three delegates from the OPEC+ group telling Reuters that it is not expecting to change its policy that it set previously: increase production quotes each month until all the production quotas have been unwound.Some analysts have been quick to point out that…
(Bloomberg) – Hot weather sparked a string of wildfires around Alberta over the weekend, including some near oil and gas wells operated by Canadian Natural Resources Ltd. and others. Four out-of-control fires were burning in Alberta at 4:15 p.m. Monday, including a 2,000-hectare blaze near Swan Hills. The province issued a notice to the town’s residents telling them to prepare to evacuate within an hour if needed. That fire is less than half a kilometer away from a CNRL-operated well site and within 20 km (12 mi) of separate well sites operated by CNRL and other companies. Canadian Natural said in an email that…
Alberta’s wildfire season is off to a fiery start, with a major blaze near the town of Swan Hills prompting evacuations and temporarily shuttering oil operations. The fire—burning out of control and spanning roughly 1,600 hectares—is just 7 km from Swan Hills, forcing the town’s 1,200 residents to flee Monday night.Aspenleaf Energy, active in the area, has shut in about 4,000 boepd and evacuated field crews out of precaution. CEO Bryan Gould said the fire was around 10 km from their assets as of Monday evening. Canadian Natural Resources (CNQ.TO), the country’s largest oil producer, also operates nearby but hasn’t…
A Square-powered bitcoin checkout is now live on the Vegas Strip, where Bitcoin 2025 attendees can scan and pay for merch in seconds using the Lightning Network.Miles SuterLAS VEGAS — Jack Dorsey’s latest bitcoin vision is hitting the checkout counter — starting with a merch truck parked just off the casino floor inside The Venetian.This week at Bitcoin 2025, Square is piloting real-time bitcoin payments, letting attendees scan and spend crypto for T-shirts, hoodies, and hats at the BTC Inc. pop-up store. The system runs on Lightning, which settles transactions off the main blockchain and is faster and cheaper than…
Saudi Aramco, the world’s biggest oil firm, is expected to price later on Tuesday a three-part bond in U.S. dollars as a campaign to raise funds, IFR news service reports.The bond sale is set to be benchmark-sized, which typically means the issue would be of at least $500 million.Saudi Aramco is also reportedly exploring asset sales as a means of increasing the availability of funds to fuel its international expansion and existing operations, according to unnamed sources who spoke to Reuters.At the end of last year, Saudi Aramco’s chief financial officer, Ziad Al-Murshed, said that the oil giant plans to…
WASHINGTON, DC – MAY 23: U.S. President Donald Trump holds up a signed executive order in the Oval … More Office of the White House May 23, 2025 in Washington, DC. President Trump signed executive orders related to the nuclear power industry. (Photo by Win McNamee/Getty Images)Getty Images The policy moves made last week by both Congress and the White House signal an increasingly dramatic shift in U.S. energy policy since the November 2024 elections. While lawmakers aren’t moving towards a full repeal of the 2022 Inflation Reduction Act, which Democrats herald as one of the Biden presidency’s signature achievements,…
US President Donald Trump has backed away — for now — from imposing steep levies on the European Union, two days after he threatened the bloc with 50 percent tariffs. On Sunday, Trump agreed to extend his deadline for trade talks until July 9, from the June 1 deadline he set on Friday, after European Commission President Ursula von der Leyen said the bloc needed more time to “reach a good deal”. Von der Leyen reportedly told Trump during a phone call that the EU needed more time to come to an agreement and asked him to delay the trade…
Regulatory Flexibility: Carmakers can now average emissions over 2025–2027 instead of meeting annual CO₂ targets. Industry Relief: Move aims to provide regulatory certainty amid growing pressure to decarbonize. Legislative Finalization: Amendment will enter into force 20 days after its publication in the Official Journal. The European Union has officially approved a regulatory amendment that gives car manufacturers additional leeway to meet their CO₂ emissions targets. The Council of the European Union adopted the final legislative step, allowing automakers to assess compliance with fleet-wide emissions targets over a three-year average (2025–2027) rather than annually. This targeted change, part of the broader…
Republican presidential nominee and former U.S. President Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, U.S., July 27, 2024.Kevin Wurm | ReutersLAS VEGAS — Trump Media on Tuesday announced a $2.5 billion raise from institutional investors to bankroll one of the largest bitcoin treasury allocations by a public company.Shares of the company closed 10% lower Tuesday.It’s the latest and most ambitious move in the company’s evolution from a free-speech social platform to a financial services player.The deal includes $1.5 billion in common stock and $1 billion in convertible notes, with proceeds earmarked for the purchase of bitcoin,…