US Politics & Business News
The Federal Reserve’s decision to hold its benchmark interest rate in the 3.5% to 3.75% range on Wednesday was the most anticipated non-event of the year — until Jerome Powell started talking. What followed his opening remarks sent traders scrambling for the exits in a session that turned a routine hold into a full-blown risk-off…
Three weeks after Iranian missile and drone strikes forced the closure of Qatari airspace and grounded virtually the entire Qatar Airways fleet, the airline is attempting a partial return to operations this week, beginning with a limited scheduled service to dozens of destinations that started on March 18 and runs through to March 28. It…
The Trump administration has invoked the Defense Production Act of 1950, a Cold War-era emergency statute, to direct Sable Offshore Corp. to restart a pipeline and offshore oil operation along the Santa Barbara coast that has been shut since a rupture in 2015. Energy Secretary Chris Wright issued the order on Friday, framing it as…
Officials within the Trump administration have reportedly decided against using the U.S. Treasury Department to trade oil futures contracts as a method of influencing energy markets for the time being. The possibility had been discussed internally as oil prices surged following the outbreak of conflict involving Iran, which has raised concerns about potential disruptions to…
Oil markets were jolted after OPEC+ agreed to raise output by 206,000 barrels per day from April, even as shipping disruptions intensified across the Gulf region. The decision coincided with conflict involving the United States and Israel against Iran, alongside Tehran’s retaliation, which disrupted flows from key Middle Eastern producers. The Strait of Hormuz, responsible…
Merrill Lynch Kingdom of Saudi Arabia is set to halt its market-making activities for Saudi Arabian Oil Co from February 8, following approval from the Saudi Exchange. The exchange confirmed the decision in a formal notice, marking a notable shift in trading dynamics for one of the region’s most closely watched stocks. Why Market-Making Matters…
Libya is preparing to sign a major long-term energy agreement that signals renewed ambition to stabilise and expand its oil sector through large-scale international cooperation. The agreement will be signed with France’s TotalEnergies and U.S.-based ConocoPhillips and will run for 25 years, marking one of the most significant foreign-backed energy commitments in the country’s recent…
Global markets were jolted on Monday as investors reacted to mounting concerns over the political independence of the Federal Reserve. Precious metals surged to record levels, the U.S. dollar weakened, and stock markets swung sharply as uncertainty took hold. The volatility followed an announcement from Federal Reserve Chair Jerome Powell that he is under criminal…
As Cleveland embarked on his second term, the nation faced severe economic turmoil. The Panic of 1893 triggered a prolonged depression, testing Cleveland’s leadership and policy initiatives.