Energy
OPEC+ members delay plans to hike production by two months after oil price slump
A general view of signage at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) on Feb. 29, 2024 in Vienna, Austria. Thomas Kronsteiner | Getty Images News | Getty Images Members of the OPEC+ oil alliance have delayed plans to hike production by a scheduled 180,000 barrels per day in October, as […]
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Saudi Arabia’s fiscal breakeven oil price is rising fast. What will the kingdom do about it?
An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia, on Wednesday, Oct. 3, 2018. Simon Dawson | Bloomberg | Getty Images Saudi Arabia has a superpower. Not only is it the largest exporter of crude oil in the world; its production costs for […]
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Bitcoin ETFs saw heaviest outflows in four months on Tuesday as crypto prices plunged
CFOTO | Future Publishing | Getty Images Spot bitcoin exchange-traded funds had their worst day in over four months on Tuesday as investors pulled some of their money alongside a broader market selloff. More than $287 million was withdrawn from the 11 U.S.-listed ETFs, the biggest day for outflows since May 1, according to Farside […]
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The latest hiccup in Trump’s crypto launch: Deleted posts and a hacking claim
Republican presidential nominee and former U.S. President Donald Trump gestures as he holds a rally at the Cambria County War Memorial Arena in Johnstown, Pennsylvania, U.S. August 30, 2024. Brian Snyder | Reuters The X accounts of two family members of Republican presidential nominee Donald Trump’ appeared to have been hacked Tuesday in order to […]
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U.S. military says Yemen’s Houthis attacked two crude oil tankers in Red Sea
Tankers located in the waters near Ceuta, Spain are transferring crude oil from Russia to reach the Asian markets in spite of Western sanctions. Europa Press News | Europa Press | Getty Images Yemen’s Iran-backed Houthi rebels attacked two crude oil tankers — the Saudi-flagged Amjad and the Panama-flagged Blue Lagoon I — in the Red Sea on Monday, the U.S. military said, calling the assaults “reckless […]
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It’s too late to buy utilities — a red-hot AI play — except for 2 stocks, says top Morningstar strategist
Utilities stocks have been a red-hot play off the artificial intelligence boom, with AI leading to the need for much power. The Vanguard Utilities ETF, for instance, has soared nearly 21% year-to-date, more than the S & P 500’s 18%. But the sector has now run too far, according to Morningstar’s Dave Sekera. He said Morningstar […]
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Data center capacity in the Asia-Pacific region could double in about six years, BofA says — Stocks to play it
The Asia-Pacific region is set to see strong data center demand over the next few years, which is a boon for artificial data center operators and hyperscalers’ expansion in that part of the world, Bank of America found. APAC data center capacity is set to double in five to six years at a compound annual […]
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Affirm shares surge 34% and head for best day in three years after earnings beat
Drew Angerer / Getty Images Affirm shares soared 34% on Thursday and were on pace for their best day in almost three years, after the provider of buy now, pay later loans beat on the top and bottom lines in its earnings report. If the rally holds, it will be the third-biggest rally for the […]
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Trump says plan to make U.S. ‘crypto capital of the planet’ coming within hours
Republican presidential nominee Donald Trump is pumping the Trump Organization’s new crypto platform, which has just been rebranded from “The DeFiant Ones,” to “World Liberty Financial.” In a post to his 90 million followers on X, the former president shared a video of himself with voiceover: “This afternoon, I’m laying out my plan to ensure […]
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UN nuclear watchdog chief pushes back on Moscow’s calls for objectivity after Kursk plant visit
The head of the U.N. nuclear watchdog has pushed back against Moscow’s calls for further objectivity, following an inspection at the nuclear facility in the embattled Russian region of Kursk. Last week, Russia accused Ukraine of attempting a drone strike at the Kursk nuclear plant during a lightning cross-border incursion that has been under way […]
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