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New Delhi: India’s crude oil imports are slipping this year amid stagnant demand at home and abroad, a sign that the world’s third-largest consumer and importer may no longer be the reliable demand growth driver global markets count on.Oil imports fell 0.6% YoY during April-July and product imports 1.5%. The slide deepened in July with crude imports declining 4.3% and products’ falling 12.7%. Exports offered little cushion with product shipments down 0.2% in July and up 0.02% over four months. In volume terms, product exports equal about a fifth of India’s combined crude and product imports. Weak imports mirror flagging…
New Delhi: Russian President Vladimir Putin on Monday spoke to Prime Minister Narendra Modi and shared his assessment of his recent meeting with US President Donald Trump, the Prime Minister’s Office said.During the call, Modi reiterated India’s consistent position for a peaceful resolution of the Ukraine conflict and underlined support for all efforts towards this end. The two leaders also discussed bilateral cooperation, the statement said.In a post on X, Modi said, “Thank my friend, President Putin, for his phone call and for sharing insights on his recent meeting with President Trump in Alaska. India has consistently called for a…
Holly Andrzejewski hadn’t yet welcomed her and her family’s first guests to the Atlantic Inn on Hatteras Island when she had to start rescheduling them, as Hurricane Erin neared North Carolina’s Outer Banks on Tuesday and threatened to whip up wild waves and tropical force winds.Although the monster storm is expected to stay offshore, evacuations were ordered on such barrier islands along the Carolina coast as Hatteras as authorities warned the storm could churn up dangerous rip currents and swamp roads with waves of 15 feet (4.6 meters).Andrzejewski and her husband purchased the bed and breakfast, known as the oldest…
The artificial intelligence boom that Sam Altman helped ignite with ChatGPT in late 2022 is starting to make even him uneasy.Startups with little more than a pitch deck are raising hundreds of millions. Valuations have become “insane.” Capital is chasing a “kernel of truth” with feverish speed.The OpenAI CEO still believes the long-term societal upside of AI will outweigh the froth, and he’s ready to keep spending in pursuit of that goal.”Are we in a phase where investors as a whole are overexcited about AI? My opinion is yes,” he said at a recent dinner with reporters. “Is AI the…
Global Infrastructure Partners (GIP), a part of BlackRock and one of the world’s leading infrastructure investors, has entered into a definitive agreement to acquire a 49.99% interest in Eni CCUS Holding, a leading global platform in the carbon capture, utilization, and storage (CCUS) sector. Eni CEO Claudio Descalzi Eni CCUS currently encompasses the Liverpool Bay and Bacton projects in the UK, the L10 project in the Netherlands and has the option to participate in the Ravenna CCS project in Italy – cornerstone assets aimed at decarbonizing industrial clusters. The agreement also grants Eni CCUS the right to participate…
(Bloomberg) – Oil rose as U.S. President Donald Trump’s meeting with Ukrainian President Volodymyr Zelenskiy tempered expectations that a resolution to the conflict with Russia will be reached quickly. Ukranian President Volodymyr Zelenskiy West Texas Intermediate advanced about 1% to settle above $63 a barrel after Zelenskiy said during a meeting at the White House that the countries need to find diplomatic ways to end the war. Brent crude rose more than 1% to settle below $67. “Zelenskiy’s latest comments may have lowered already-slim ceasefire odds even further,” said Rebecca Babin, a senior energy trader at CIBC Private…
2025-08-19T00:07:55Z 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. SoftBank is investing $2 billion in Intel common stock, paying $23 per share. The investment fits with SoftBank’s focus on AI and semiconductor expansion in the US. Intel’s stock rose after hours, while SoftBank’s shares fell. SoftBank is betting big on semiconductors in the age of AI.The investment holding…
Pictured: The Peregrino FPSO. Images courtesy of Equinor. (Reuters) — Brazilian oil company Prio announced on Monday that the local regulator, ANP, has mandated a production halt at the Peregrino FPSO due to necessary improvements in risk management documentation and adjustments to the deluge system. According to a Reuters report, the stop-work order has negatively impacted Prio’s stock, as the Peregrino field is crucial to its output, especially since the company is in the process of acquiring the remaining stake from Equinor. Equinor is currently working on these adjustments, which are expected to take three to six weeks.…
Pictured: The Peregrino FPSO. Images courtesy of Equinor. (Reuters) — Brazilian oil company Prio announced on Monday that the local regulator, ANP, has mandated a production halt at the Peregrino FPSO due to necessary improvements in risk management documentation and adjustments to the deluge system. According to a Reuters report, the stop-work order has negatively impacted Prio’s stock, as the Peregrino field is crucial to its output, especially since the company is in the process of acquiring the remaining stake from Equinor. Equinor is currently working on these adjustments, which are expected to take three to six weeks.…
A dovish Powell could weaken the U.S. dollar – driving capital into safe-haven metals such as Gold, Silver, Palladium and Platinum – pushing them toward multi-year or even all-time record highs in the coming weeks, if not days ahead. On the flipside, a hawkish Powell could fuel a U.S dollar surge – triggering short-term pullbacks across the Commodity complex that traders can exploit for rapid windfall gains. For traders, this is where fortunes are made, says GSC Commodity Intelligence. “The asymmetry of risk-reward is staggering: a single well-timed trade on Gold, Silver or Crude Oil could yield what used to…