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(Investing) – NEW YORK -Oil prices rose by about $1 on Monday after OPEC+’s planned production increase for November was more modest than expected, tempering some concerns about supply additions, though a soft outlook for demand is likely to cap near-term gains. climbed $1.07, or 1.66%, to $65.60 a barrel by 12:52 p.m. EDT (1652 GMT), while U.S. West Texas Intermediate crude was at $61.84, up 96 cents, or 1.58%. “The market feel that the actual amount of oil that is going to hit the market is far less than what they announced, given that some of the OPEC+ members are…
2025-10-06T21:20:46Z 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. Firefly Aerospace plans to purchase defense analytics company SciTec for $855 million in cash and equity. The company anticipates that the deal will close by the end of 2025. Firefly hopes the acquisition will give it an edge in Trump’s Golden Dome plans. Firefly Aerospace, the Texas-based company that…
Abu Dhabi National Oil Co. has offered a slate of concessions to address European Union concerns over its €12 billion ($14 billion) takeover of Covestro AG. The European Commission confirmed it received remedies on Oct. 2, declining to elaborate on details of the offer. It added that despite the concessions being filed, the regulator hasn’t set a new deadline for a decision after it stopped the clock to request further details. The package of commitments includes a pledge to maintain Covestro’s intellectual property in Europe as well as concessions on the company’s unlimited state guarantee from the UAE, according to…
“This is the ultimate proof of Gold’s role as money,” says GSC. “While currencies lose value year after year, Gold preserves and multiplies wealth”. Gold Outpaces Equities In Historic Breakout Gold is up +50% in 2025 alone. Since January 2023, it has surged an astonishing +120%. That’s 3.5 times the performance of the S&P 500, even during one of the strongest equity bull runs in history. Historically, Gold was viewed as a safe haven that rose only when stocks fell. But today, the opposite is happening: equities are rallying, yet Gold is exploding higher alongside them – breaking the old…
(World Oil) – Shell’s LNG Canada is currently on track to load its first liquefied natural gas cargo from the facility’s second unit as soon as this week as the project continues to ramp up in the next month, according to people familiar with the matter. Shanghai,China-Oct. 23rd 2022: Shell plc company logo on office building The unit, known as Train 2, began activities to start on Tuesday, according to reports. Shippers were notified to have vessels ready as soon as early October to early November, according to the people, who asked not to be identified because the information is not…
Oil markets are struggling to reconcile geopolitics with fundamentals as headlines push prices one way while physical signals pull in the other direction. The result is a market where Brent spreads and gasoil cracks appear strong on paper, even as North Sea grades compete for premiums and US crude arrives at a discount in Europe.Markets are operating on a split screen, with futures signalling at least some tightness still, while the physical market has been weakening markedly. The paper structure has solidified, still in backwardation. Traders added a security cushion in some instances after sustained strikes on Russian refineries and…
Oil rose after OPEC+ agreed to raise production by a modest amount, staving off traders’ fears of a super-sized increase. West Texas Intermediate topped $61 a barrel, following a 7.4% slump last week. On Sunday, the Organization of the Petroleum Exporting Countries and partners agreed to a 137,000-barrel-a-day increment, well below some of the possible figures reported before the decision. Prices also got a boost after Reuters reported that Russia’s Kirishi oil refinery halted its most productive unit, following a drone attack and fire on Oct. 4. Traders have honed in on Russian flows and the risk of disruptions over…
(Bloomberg) – Shell’s LNG Canada is currently on track to load its first liquefied natural gas cargo from the facility’s second unit as soon as this week as the project continues to ramp up in the next month, according to people familiar with the matter. The unit, known as Train 2, began activities to start on Tuesday, according to reports. Shippers were notified to have vessels ready as soon as early October to early November, according to the people, who asked not to be identified because the information is not public. Train 2 start-up activities continue, according to an email…
Lorenzo Simonelli, Chairman and CEO of Baker Hughes Shareholders of Chart Industries have approved the company’s pending $13.6 billion takeover by Baker Hughes, a transaction expected to close by mid-2026 pending regulatory clearance. The deal marks a major step in Baker Hughes’ strategy to strengthen its position as a leading global energy and industrial technology provider. The acquisition is expected to transform Baker Hughes’ Industrial & Energy Technology (IET) segment, expanding its capabilities across LNG, data centers and clean energy applications. According to the company, the combination will enhance its presence in high-growth markets while supporting more stable…
Bloomberg’s Javier Blas warned on Monday that the next oil glut will be harder and costlier to finance than any in recent memory, describing a “cartoonish” surplus forming as new barrels from Guyana, Brazil, the United States and the Middle East converge with slower demand growth and sharply higher borrowing costs.In a column for EnergyNow, Blas argues that the most dangerous element of the coming oversupply is not the scale of production but the price of money. In previous downturns, cheap credit allowed traders to hold crude in storage and profit from contango, Blas says. Now, with financing rates above 6%,…