“MARKETS DO what markets do.” So Chris Wright enlightened a Houston ballroom full of oilmen on March 23rd. America’s energy secretary was the opening speaker at CERAWeek, an industry jamboree, where he set an upbeat tone. War may be raging and oil markets gyrating; but in America’s shale capital, good times were to be had….
The Chinese government has moved to ban all fuel exports amid a worsening supply crunch because of the severe disruption in tanker traffic in the Strait of Hormuz. The ban covers gasoline, diesel, and jet fuel, unnamed sources told Reuters. The restrictions will take immediate effect, applying to all cargoes that had not passed through…
(Bloomberg) — Chinese investors hunting for the next artificial intelligence winners are looking beyond high-flying chipmakers to the utilities and metal producers that form the industry’s physical backbone. The shift toward the sector’s supply chain — from power generators to materials used in data centers — reflects growing concern over lofty valuations in pure-play AI…
(Bloomberg) — Asian equities came under pressure after a tech selloff hit Wall Street Friday, with chip shares among the losers. Hong Kong was an outlier as Alibaba Group Holding Ltd. surged. The MSCI Asia Pacific Index slipped 0.2% with chipmakers pushing the Nikkei-225 index down by 1.8%. Samsung Electronics Co. and SK Hynix Inc….
Global oil markets are bracing for another wild week after the United States launched direct strikes on Iranian territory over the weekend, raising fears of a retaliatory escalation that could threaten vital energy infrastructure and shipping lanes in the Middle East. Prices spiked to their highest levels in five months in early trading on Monday…