US to develop AI on Energy Department Lands
On Thursday, the administration of Donald Trump announced that it had identified 16 sites in the U.S. Department of Energy where data centers and energy plants to support artificial intelligence could be built. The rapid growth of AI has led to a boom in the demand for power in the United States, which is unprecedented in 20 years. Big Tech companies and utilities are scrambling to build data centers and new power plants.
US tech and retail stocks lead the rout following Trump's tariff blow
Apple, Walmart and Nike are among the U.S. megacap tech companies that led to a global meltdown after President Donald Trump announced new tariffs. The fears about a cost spike across many industries were heightened by these new tariffs. The tariffs threaten to disrupt the global trade order and upset businesses. This is a stark contrast to just a few short months ago, when the hopes for business-friendly policies from the Trump administration drove U.S.
Thyssenkrupp Steel unit to terminate supply contract with HKM - union
The IG Metall union, which represents the largest German steelmaker T hyssenkrupp Steel Europe, announced on Thursday that it intends to end a contract of supply with HKM. This has fueled uncertainty about the future of this joint venture. HKM, a joint venture of TKSE, Salzgitter, and Vallourec that is a 50-30-20, faces closure following a recent failure to find a buyer. This would be a huge blow for the approximately 3,000 employees.
Waaree, a manufacturer of Indian solar modules, says that tariffs will not affect its business in the near future.
Amit Paithankar, CEO of India's largest solar panel maker Waaree Energies, said that he does not anticipate the reciprocal tariffs imposed by President Donald Trump on the business of the company in the near future. Trump has imposed a reciprocal tariff of 27% on India, as part sweeping tariffs against most imports to the United States. The U.S. market is an important one for Indian solar modules makers.
Octopus Energy, a British company, has bought a stake in the East Anglia One windfarm
Octopus Energy, a British company, announced on Thursday that its Octopus Energy Generation division had purchased a 10% share in the East Anglia One Wind Farm, which is one of the largest operating wind farms in the world, supplying electricity to around 700,000 households a year. The unit's fourth investment in an offshore wind farm in Britain and seventh in Europe, the financial terms of the deal were not disclosed.
Gold prices stabilize after Trump tariffs.
The gold price took a break on Thursday, after it surged to another record high. This was after U.S. president Donald Trump announced sweeping import duties that drove investors into the safe-haven investment. Gold spot was unchanged at $3,130.21 by 0834 GMT, amid profit-taking. It had earlier reached a session high of $3,167.57. U.S. Gold Futures fell 0.4% to $3.154.10.
Prices for EUROPE GAS continue to fall as the warm weather continues curb demand
The Dutch and British gas price continued to fall on Thursday as the warmer weather continues reducing demand. Meanwhile, the market is watching the impact of Trump’s "Liberation Day tariff plan". LSEG data shows that the Dutch front-month contract fell 0.89 euros to 40.60 Euro per Megawatt Hour (MWh), or $12.80/mmBtu at 0827 GMT. The Dutch day-ahead contracts was down by 1.05 euros at 39.95 Euro/MWh.
Data shows that global coal power capacity is expected to increase in 2024.
Global Energy Monitor, a U.S.-based think tank, reported on Thursday that the world's coal power fleet increased by 18,8 gigawatts, its smallest increase in over two decades. However, new additions to China and India continue to offset closures in other countries. GEM's annual report on coal plant tracking said that despite a record-breaking surge in renewables last year…
Trump's tariffs have already been carved out in a significant way. Russell: Oil and gas
Energy commodities were excluded from the new tariffs announced by U.S. president Donald Trump. White House announced on Wednesday that the baseline of 10% for all imports into the United States and even higher for major trading partners will not apply to crude oil and natural gas, or refined products. The exemption of energy imports is an obvious tactic that will limit the pain Americans feel as a result of tariffs.
US Businesses brace themselves for more pain when Trump imposes reciprocal tariffs
The U.S. president Donald Trump announced on Wednesday a number of reciprocal duties on trading partners, the latest of a long list of duties that have been imposed by him since he returned to the White House in early this year. From April 5, the U.S. is imposing a baseline 10% tariff on all imports into the country and will be increasing duties for several of its largest trading partners. Levies may be especially damaging to U.S.
Trump exempts oil imports from his sweeping tariffs
The White House announced on Wednesday that imports of refined products, oil and gas were exempted by President Donald Trump from his new sweeping tariffs. The exemption is a welcome relief for the U.S. Oil Industry, which was concerned that new taxes could disrupt flow and increase costs of everything from Canadian crude oil to Midwest refineries and European cargoes to the Eastern Seaboard.
Mexico's Finance Ministry estimates crude oil production at 129,000 bpd less than target
Mexico has lowered its average crude oil production estimate for this year, citing "prudent" approach that takes into consideration the trajectory of the early months of the year. This would put the country under the ambitious target of 1.8 million bpd set by President Claudia Sheinbaum. The revised estimate of the Finance Ministry in its preliminary budget criteria…
US Senators ask Energy Secretary to comply with law regarding clean energy grants and loans
U.S. Democratic Senators on Wednesday called for Energy Secretary Chris Wright's department to comply with laws that mandate his funding of clean energy projects, which were included in laws passed prior to Donald Trump becoming president. This includes four hydrogen hubs. Wright's Department is considering funding cuts for four of seven hubs that are part of a $7 billion project to decarbonize America's economy.
GE Vernova will supply turbines for a planned natgas plant in Pennsylvania by 2026
GE Vernova is helping to transform Homer City Generating Station, a coal-powered power plant in Pennsylvania, into a campus of natural gas powered data centers by providing seven turbines that will produce almost 4.5 gigawatts. The project should begin generating power in 2027. It will be the largest natural-gas power plant in the U.S. once it is completed. This surpasses Florida Power & Light West County Energy Center's capacity of almost 3.8 GW.
EIA: US crude and distillate stocks rise while gasoline inventories fall
The Energy Information Administration reported on Wednesday that U.S. crude and distillate oil inventories increased while gasoline inventories decreased last week. The EIA reported that crude inventories increased by 6.2 millions barrels, to 439.8million barrels for the week ending on March 28. This was compared to analysts' expectations based on a poll of a 2.1-million barrel draw.
OPEC+ will discuss Kazakhstan's output at the Thursday meeting, sources claim
Two delegates said that eight OPEC+ nations meeting on Thursday, will focus on convincing Kazakhstan to stop exceeding their output quota as well as its plans to compensate overproduction while the group increases gradual production. Sources have said that the record Kazakh production has angered other members of OPEC+, including Saudi Arabia. OPEC+ has urged the Central Asian nation…
ConocoPhillips is looking to sell assets in Oklahoma worth more than $1 billion, according to sources
People familiar with the situation said that ConocoPhillips has begun exploring the possibility of selling oil and gas assets it acquired from Marathon Oil when it bought the company for $22.5 billion last year. Sources said that the energy producer hired Moelis & Co as an investment bank to manage the sale of the assets. However, they added that talks were at a very early stage, and a deal was not guaranteed.
US businesses prepare for more pain when 'Liberation Day" tariffs loom
Businesses all over the world are eagerly awaiting details about the new tariffs that President Donald Trump has imposed on his trading partners. This is the latest in an extensive series of duties that have been imposed by the U.S. since he returned to the White House at the beginning of this year. Trump is expected to announce the new duties at a ceremony on Wednesday at 4 pm Eastern Time (20:00 GMT), dubbed "Liberation Day".
Israeli Firm Gets Final Permit for US Wave Energy Demo
Eco Wave Power, an onshore wave energy technology company, has received a final permit for the construction and demonstration of its wave energy technology in San Pedro, California.The Revocable Permit 25-05 by the Port of Los Angeles was executed on behalf of the Executive Director, Eugene D. Seroka on March 27, 2025.This permit is the final approval required for Eco Wave Power to start construction of its pilot project…
Palm oil climbs as Chicago soyoil and crude oil prices firm up
The market for Malaysian palm oils futures rose on Wednesday, marking the fourth session in a row. This was due to gains in Chicago soyoil prices and energy. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange gained 99 ringgit or 2.24% to 4,518 Ringgit ($1,015.05) per metric ton. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group…
