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Alisa Odenheimer, Anna Shiryaevskaya and Salma El Wardany, Bloomberg June 13, 2025 (Bloomberg) – Israel shut down production at its biggest natural gas field after it launched airstrikes against Iran, stopping supplies to import-dependent Egypt and raising concerns about fuel shortages there. Israel ordered the halt of the offshore Leviathan field operated by Chevron Corp. due to security concerns, according to a statement from the Energy Ministry. Energean Plc has also suspended output in the country. The escalating tensions in the Middle East raise the risk of a wider war in a region that’s key to…
Compared to other Nintendo consoles, the Switch 2 is an outlier. It’s the first Nintendo system that feels like a direct, no-frills upgrade to its predecessor. It looks similar, it doesn’t require new controllers, and it even plays 99% of the original Switch’s library. It’s a sequel, which is rare for such an innovation-focused company.This lack of innovation gives the Switch 2 its greatest strengths and worst flaws. On the one hand, the system carries over everything I loved about the original console, including its massive library and iconic blend of handheld and TV gaming. But on the other hand,…
(BOE Report) – Israel carried out strikes on Iran on Friday, targeting its nuclear facilities, ballistic missile factories and military commanders at the start of what it warned would be a prolonged operation to prevent Tehran from building an atomic weapon. The National Iranian Oil Refining and Distribution Company said refining facilities and oil storage did not sustain any damage in the attacks. Iran, the third largest producer in the Organization of the Petroleum Exporting Countries, extracts about 3.3 million barrels of oil per day (bpd), or around 3% of global output. Following are some facts on the country’s energy…
2025-06-13T20:36:51Z Share Facebook Email X LinkedIn 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. Oracle appointed two new presidents SEC filings show. The people are considered part of a succession plan for the cloud company. Oracle shares recently reached a record high, reflecting its renewed enterprise popularity. Oracle revealed two new presidents in company filings on Friday. The move could have broader succession implications for the…
Brent crude surged more than 8% on Friday, peaking at a 13% intraday gain, after Iran launched a wave of missile strikes on Israel in retaliation for the Israeli Air Force’s targeted assault on Iranian nuclear and military infrastructure. The sudden escalation has jolted energy markets already grappling with rising geopolitical risk across the Middle East.The Iranian strike, described by Israeli officials as involving up to 150 ballistic missiles in two waves, targeted multiple sites across Israel according to the Jerusalem Post. While Israeli defense forces successfully intercepted several of the projectiles, casualties have climbed to at least 40 injured,…
Oil surged the most in more than three years after Israel carried out airstrikes against Iran, raising fears of a wider war in a region that accounts for a third of global crude production. West Texas Intermediate crude futures advanced more than 7% to settle near $73 a barrel, the biggest one-day jump since March 2022. The price of European natural gas — also a major Middle Eastern export — rallied, and haven demand pushed gold closer to a record. US President Donald Trump urged Tehran to make a deal “before it is too late,” in a post on Truth Social. The next attacks already…
Following the disruption to the global rare earth supply chain after China’s export curbs, India is now looking at ways to keep its own rare earths at home.The government has asked state-owned minerals and metals mining enterprise IREL (India) Limited to halt a more than a decade-old supply agreement to export rare earth elements to Japan, Reuters reported on Friday, citing sources with knowledge of the development.But the idea to stop supply to Japan may not be immediately feasible because it is part of a bilateral government deal, one of Reuters’ sources said.IREL has an agreement with Toyotsu Rare Earths…
(World Oil) – U.S. Energy Secretary Chris Wright said it’s “unlikely” the country’s oil production will drop next year, contrary to the expectations released this week by a government agency. Much will depend on oil prices and whether producers will follow through on pledges to reduce investment, Wright said in an interview on Bloomberg Television. The Energy Information Administration revised down its view of U.S. production Tuesday, anticipating the first drop in output since 2021. “That is a projection—we don’t know what’s going to happen next year,” Wright said. “We have seen weak prices for a few months, and if…
ANCHORAGE, Alaska (AP) — For the first time ever, parts of Alaska will be under a heat advisory — but you can put an asterisk at the end of that term.It’s not the first instance of unusually high temperatures in what many consider the nation’s coldest state, but the National Weather Service only recently allowed for heat advisories to be issued there. Information on similarly warm weather conditions previously came in the form of “special weather statements.”Using the heat advisory label could help people better understand the weather’s severity and potential danger, something a nondescript “special weather statement” didn’t convey.The…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Wall Street moved lower Friday afternoon as tensions in the Middle East escalate following Israel’s attack on Iranian nuclear infrastructure. Iranian state TV said that it has suspended nuclear weapons negotiations with the U.S. — the two sides had been set to talk on Sunday. Not long afterward, as headlines around Iranian missile attacks in Israel surfaced, losses in the stock market picked up steam. The Dow Jones Industrial Average…