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In a research note sent to Rigzone late Tuesday by Natasha Kaneva, Head of Global Commodities Strategy at J.P. Morgan, analysts at the company, including Kaneva, said “based on numerous recent discussions with institutional and corporate clients”, they “conclude that the sentiment on oil is neutral to optimistic, particularly within the corporate community”. “Many believe we are in a ‘peak Trump’ phase, suggesting that the worst is behind us and we are now entering a period of de-escalation,” the J.P. Morgan analysts stated in the research note. “There is a prevailing view that the tailwinds from trade deal announcements and…

In Silicon Valley, the message is clear: The era of cushy perks and low accountability is over.Big Tech is undergoing a cultural reset, combining generous rewards for high performers — the “carrots” — with increasingly sharp consequences for those who don’t meet expectations — the “sticks.”At Google, Microsoft, and Meta, performance management has become both an incentive engine and a weeding tool, which reflects the broader industry shift toward leaner, more intense workplaces. Alistair Barr Google: More rewards for the exceptionalAs my colleague Hugh Langley scooped this week, Google is nudging employees toward higher performance by sweetening the pot for…

The Red Sea is a vital waterway for global trade, connecting the Mediterranean Sea with the Gulf of Aden through the Suez Canal. Approximately 12 percent of global shipping traffic normally passes through the Red Sea, including key oil shipments and commercial goods. The Red Sea attacks began on November 19, 2023, when Houthi forces seized Galaxy Leader, a British-owned, Japanese-operated vehicle carrier, off the coast of Hodeidah. The 25-person crew was detained, and the ship was held for more than a year. The Houthis justified the seizure as an act of solidarity with Palestinians, stating they would continue their…

Upbeat corporate earnings draw interest after the closing bell. Meta Platforms (META) and Microsoft (MSFT) beat earnings estimates, rallying 5.36% and 6.93%, respectively, in after-hours trading. Recession Risks Rise Despite Easing Inflation The US economy contracted by 0.3% quarter-on-quarter in Q1 2025 after expanding 2.4% in Q4 2024. Rising risks of a US recession impacted risk sentiment. Labor market data added to the negative sentiment. The ADP reported a 62k rise in employment in April, down from 147k in March. However, inflation showed signs of easing. The Core PCE Price Index rose 2.6% year-on-year in April, down from 3% in…

Three Republican senators join Democrats in voting for resolution to oppose US president’s trade policy.The United States Senate has rejected an effort to block US President Donald Trump’s tariffs amid bipartisan concerns about the impact of his trade salvoes on the economy. The upper house of the US Congress voted 49-49 to knock back the resolution on Wednesday, hours after government data showed that the US economy shrank for the first time in three years. Three Republican senators – Rand Paul of Kentucky, Susan Collins of Maine and Lisa Murkowski of Alaska – voted for the measure in a rare rebuke…

Indian Oil Corporation (IOC), the nation’s largest oil firm, is not discussing a term or fixed quantity deal for import of Russian oil given the volatility in the international market, Chairman A S Sahney said on Wednesday. India’s import of Russian oil has surged since the start of the Ukraine war in February 2022. Russia was India’s top crude oil supplier for the third consecutive year in 2024-25, primarily driven by attractive discounts on Russian crude. The discounts, which have narrowed since, offset the logistical challenges and longer shipping times associated with sourcing oil from Russia. Sahney said the share…

The National Ocean Industries Association issued a statement after U.S. Secretary of the Interior Doug Burgum announced the next steps in a new offshore oil and gas leasing program. NOIA President Erik Milito stated:  “We applaud Secretary Burgum and the administration for taking decisive action to launch the 11th National Outer Continental Shelf Oil & Gas Leasing Program—a critical step toward restoring long-term certainty and stability for the Gulf of America’s offshore energy sector. “The Gulf of America—and the broader American offshore—plays an essential role in powering the nation, contributing nearly $33 billion to the U.S. economy each…

WELLINGTON, New Zealand (AP) — Severe weather warnings covered swathes of New Zealand on Thursday with heavy downpours prompting a state of emergency for the South Island’s largest city, Christchurch, while forecasters recorded “destructive” gales in the capital, Wellington.Heavy snow and large waves lashed other parts of the country. No deaths or serious injuries were reported. The extent of damage was not clear by afternoon, but evacuations were not widespread. Thursday’s red wind warning for Wellington, at the southern end of New Zealand’s North Island, was the first time the capital — famous for its gusty gales — has ever…

(Bloomberg) – Colombia’s state-owned Ecopetrol SA is considering buying Carlyle Group’s oil driller in the nation as it looks to boost reserves and output, its top executives said in an interview.  Carlyle Group is seeking to sell SierraCol Energy Ltd., Colombia’s biggest independent oil producer, for $1.5 billion, Reuters reported last month. The assets were purchased from Occidental Petroleum Corp. in 2020 for about $825 million.  “We were invited to the process and are currently analyzing the option,” Rafael Guzman, Ecopetrol’s vice president of hydrocarbons, said Tuesday in an interview in the company’s headquarters in Bogotá, speaking alongside Chief Executive…

NEW YORK (AP) — Consumers can expect higher prices and delivery delays when the Trump administration ends a duty-free exemption on low-value imports from China Friday. The expiration of the so-called de minimis rule that has allowed as many as 4 million low-value parcels to come into the U.S. every day — mostly from China — is also forcing businesses that have built their models on sourcing production in China to rethink their practices in order to keep their costs down.But some might actually benefit from the termination of the duty exemption. For instance, companies that make their goods in…