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Summary
The Trump administration is pursuing a significant easing of sanctions on Russian oil, including granting India a 30-day waiver and considering exemptions for German units of Rosneft, with the stated aim of cooling global oil prices. This policy has created a split with Britain, which has declined to follow suit. Concurrently, the administration has opened a trade investigation into India and 15 other economies over alleged unfair practices. In related energy diplomacy, President Trump stated the U.S. would allow a Russian oil tanker to dock in Cuba, relaxing enforcement of the longstanding fuel blockade.
Volatility in oil markets, driven by tensions with Iran and the strategic Strait of Hormuz, has been a central focus. Prices fluctuated sharply following U.S. statements and actions, including a $20 billion reinsurance program for the region and threats against Iranian energy infrastructure. Trump publicly warned Israeli Prime Minister Netanyahu against repeating strikes on Iran's South Pars gas field. Federal Reserve Chair Jerome Powell noted the central bank is monitoring how higher oil prices and tariffs are affecting inflation, indicating a cautious policy stance.
In the technology sector, a major conflict has emerged between the U.S. Department of Defense and Anthropic. The Pentagon has declared the AI company an "unacceptable risk to national security" due to its refusal to collaborate on military applications, with Anthropic reportedly considering a lawsuit. Meanwhile, Nvidia is advancing its AI hardware dominance through multi-billion dollar investments in photonics and component firms, while also restarting shipments of its H200 chips to China under export rules. Meta is expanding its AI capabilities through key hires and content licensing deals.
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Iran threatens to mine and control the Strait of Hormuz, sparking international naval tensions
IRThe Strait of Hormuz, a critical waterway for global oil shipments, has been closed. This has disrupted maritime traffic and energy supplies, leading to immediate shifts in global oil trading patterns, with Asian refiners turning to U.S. crude and Taiwan planning to increase imports of U.S. liquefied natural gas. International leaders and governments are discussing how to respond. The U.S. is reportedly planning a military operation to reopen the strait. France has mentioned a new defensive mission for the area, while other countries, like India and the United Arab Emirates, have agreed to work on keeping the passage safe. The closure has also affected diplomatic talks, placing a Japanese official's visit to the U.S. in a difficult position. The situation involves ongoing negotiations between the U.S. and Iran, which appear to be fragile. Iran has presented a multi-point plan regarding the strait and is accused of widening a "oil war" that now involves Oman. The international focus remains on resolving the blockade and securing the vital shipping route.
Mar 26 — Mar 31
U.S.-Iran tensions escalate, impacting oil prices and global markets
Oil and gas prices have been volatile, rising and then falling sharply, in response to statements from Donald Trump about the conflict with Iran. Trump said the war would end 'very soon,' which caused prices to drop after an initial spike. Republicans have largely not criticized the price increases linked to the conflict. Trump has talked about the cost of living while also betting that U.S. 'energy dominance' will make the war less economically painful for Americans. Traders in energy markets have been rattled by the situation. Some officials are reportedly encouraging Trump to develop an exit plan for the war as prices fluctuate.
Mar 13
USOil and gasoline prices, which had been rising due to the conflict with Iran, have started to fall. This change followed a series of statements and actions from Trump, who said he had productive conversations with Iran about ending the war and who withdrew an earlier ultimatum against the country. The U.S. also granted a temporary license for Iran to sell oil that was already shipped, which added more supply to the market. High gas prices had become a political problem for Trump, with reports noting the cost was set to consume the benefits of tax refunds he had promoted. In response, he called on allies like Japan and NATO to do more regarding Iran. An adviser argued that a 'terror premium' linked to Iran had artificially inflated oil prices for years, and Trump himself threatened to destroy a major Iranian gas field if prices continued to soar. The result was a significant drop and increased volatility in oil prices. The situation highlights how global energy costs are being directly influenced by diplomatic statements and threats related to the Iran conflict.
Mar 28
President Trump is trying to end attacks on energy facilities as gas fields burn in a conflict involving Iran and Israel. He has warned of massive retaliation after an Israeli strike on an Iranian gas field and threatened to target a major part of Iran's energy industry. Domestic political opponents are criticizing Trump's handling of energy affordability during the conflict. Meanwhile, his administration has taken some steps to try to curb rising energy costs for consumers.
Mar 20
President Donald Trump has repeatedly threatened to destroy Iran's Kharg Island, which is the country's primary oil export terminal. He has framed this as a potential strategy to pressure Iran into a deal without deploying U.S. troops, at one point calling the idea a 'gift' from Iran. Iranian officials have dismissed Trump's claims, stating that no oil infrastructure on Kharg Island has been damaged. The threats focus on the island's critical role, as it handles a large portion of Iran's oil exports.
Mar 15 — Mar 30
BH/KW/OM+2Amazon's cloud computing services experienced disruptions after drone strikes damaged its data centers in the United Arab Emirates and Bahrain. The company confirmed the physical damage and resulting service issues. These incidents occurred amid regional tensions, with multiple reports linking the strikes to Iran. The events highlight how physical attacks on critical infrastructure can disrupt global cloud services.
Mar 3 — Mar 24
U.S. eases sanctions on Russian oil, drawing European criticism
RUPresident Trump is facing significant criticism from Senate Democrats and international allies over his administration's approach to Iran. The criticism centers on the strategic handling of the situation and the perceived lack of a clear plan. Key points of contention include Trump's public acknowledgment that Russian President Vladimir Putin might be providing some assistance to Iran, and European criticism of the U.S. for easing sanctions on Russian oil purchases. An Omani diplomat publicly stated the conflict is 'not America's war,' and reports indicate emerging disagreements within Trump's own camp regarding the Iran strategy. Putin commented that the consequences of a war in Iran could be as serious as those of the COVID-19 pandemic. Meanwhile, headlines suggest the administration is grappling with an impasse and exploring an exit strategy, with some signals indicating Iran might be nearing a surrender.
Mar 17 — Mar 31
CUA Russian oil tanker arrived in Cuba, delivering fuel to the island nation. The shipment occurred despite a longstanding U.S. embargo that is meant to restrict Cuba's access to oil. When asked about the Russian tanker's arrival, Trump said he had "no problem" with it and that Cuba would be "next," though he did not clarify what that meant. The comments appeared to signal a relaxation of the enforcement of the U.S. oil blockade against Cuba.
Mar 30 — Mar 31
INThe Trump administration has given India a 30-day waiver allowing it to continue purchasing Russian crude oil. A senior Trump official said India has been a 'good actor' in this situation. At the same time, the administration has opened a trade investigation into India and 15 other economies, looking into what it calls unfair manufacturing and trade practices. The same official stated the US would not allow India's economic rise to become a rivalry like the one with China.
Mar 7 — Mar 14
Gasoline prices in the United States increased following an attack involving Iran. This creates a political challenge for President Donald Trump, as low gas prices have been a stated priority for him. The headlines frame this price increase as a potential liability for Trump, suggesting it could affect inflation and become a campaign issue. The coverage connects the international event directly to domestic economic and political consequences.
Mar 3
The Trump administration has issued a 30-day license that allows the purchase of Iranian crude oil that is already loaded and at sea. The move temporarily lifts sanctions on these specific shipments, which Iran says do not exist as floating stockpiles. Officials described the action as a targeted measure to address oil already in transit. The Treasury Department's license applies only to oil loaded before a certain date and must be delivered within the 30-day window.
Mar 21
Major tech firms advance AI capabilities through deals, features, and chips
Nvidia is making several large financial commitments to advance its artificial intelligence capabilities. The company plans to invest $4 billion in photonics technology, which uses light to transmit data, to improve its AI systems. It is also putting $2 billion each into two companies, Lumentum and Coherent, to strengthen its AI processor components. Additionally, Nvidia will invest another $2 billion into an AI cloud computing firm called Nebius. These moves are part of a broader effort by Nvidia to maintain its leading position in supplying the hardware for AI. The company's CEO, Jensen Huang, was recently featured at a high-profile event, highlighting his influential role in the industry. Other organizations, like the pharmaceutical company Roche, are also expanding their use of Nvidia's chips to increase their own AI computing power. Nvidia is also rolling out a new version of its DLSS software, called DLSS 4.5, which is designed to significantly improve graphics performance in video games. In a more forward-looking development, the company has discussed ambitions to eventually build AI data centers in space.
Mar 21 — Mar 30
CNNvidia has restarted manufacturing its H200 artificial intelligence chips to fulfill orders from China. This comes after the company had previously halted shipments to comply with U.S. government export restrictions on advanced technology. Three people were charged in the U.S. over an alleged plot to smuggle Nvidia chips from the U.S. to China. Separately, some U.S. senators have called for a suspension of Nvidia's AI chip exports to China, arguing the current rules are not strong enough. At the same time, Nvidia is reportedly developing new, less powerful chips specifically for the Chinese market to comply with the export rules. The company is also building a large new business unit focused on selling AI computing services, which could rival its core chip business in size.
Mar 22 — Mar 24
Google is rolling out a series of updates that put its Gemini artificial intelligence into more of its products. The changes include a major redesign for Google Maps with new AI-powered navigation and a conversational 'Ask Maps' feature, the expansion of the Gemini assistant into the Chrome browser for users in India and other countries, and new AI tools for creating and editing documents in Google Workspace. Following user complaints, Google also says it will make it easier for people to turn off the generative AI search feature in Google Photos. The company is integrating its AI technology across several of its most popular services.
Mar 12 — Mar 13
Google has released a series of new artificial intelligence products and features. These include Lyria 3 Pro, a model for generating longer AI songs, a tool to make it easier for users to switch from ChatGPT to Google's Gemini AI, and a compression algorithm called TurboQuant that can reduce the memory needed for large language models by six times. Other headlines discuss Google's broader AI strategy, including its acquisition of DeepMind, the impact of AI on its core search business, and a reported partnership with a German startup called Agile Robots. One article also notes that a competitor, Midjourney, is profitable but questions if it can compete with Google's moves in the space.
Mar 27
OpenAI is planning to launch its Sora video generator directly within ChatGPT, according to reports. This would be a change in strategy, as the company had previously considered releasing Sora as a separate product. Separately, OpenAI is expanding its advertising program. The company will introduce ads to all users of the free and low-cost 'ChatGPT Go' tiers in the United States. A report notes that OpenAI's first advertisers have not been able to prove that the ads on ChatGPT are effective.
Mar 21
Meta restructures with AI focus, facing legal and platform challenges
Meta is making several significant moves to advance its artificial intelligence capabilities. The company has hired the creators of Moltbook, a platform for autonomous AI software agents, and signed content licensing deals with major European publishers like Le Figaro to train its AI assistant. It also launched a new feature where its Meta AI can automatically respond to messages for sellers on Facebook Marketplace. These expansions come as the company restructures its AI leadership, with AI chief Alexandr Wang's role evolving under Mark Zuckerberg. The push into AI is happening while Meta is reportedly planning widespread layoffs, partly due to the high costs of developing AI technology. The company is also reportedly in talks to lease a major data center in the U.S. that was originally planned for an expansion by Oracle and OpenAI.
Mar 20 — Mar 30
A court has found Meta and Google's YouTube negligent in a case about social media addiction. The ruling says their platforms were designed in a way that harmed children's mental health, and Meta was ordered to pay a large sum in damages. Legal experts say this case could set a major precedent, similar to lawsuits against the tobacco industry, opening the door for more claims against tech companies over how their products affect users.
Mar 27
Meta announced it would shut down the virtual reality environment Horizon Worlds, but then quickly reversed course. The company said it will now keep the VR platform running 'for the foreseeable future.' The initial shutdown announcement reportedly followed a backlash from users. The reversal means the VR version of Horizon Worlds will continue to operate alongside a mobile version the company is also developing.
Mar 20
Meta is planning to lay off hundreds of employees. Reports suggest the cuts could affect up to 20% of the company's workforce, with one report noting 700 employees have already been let go. These layoffs are reportedly part of a broader cost-cutting effort as the company invests heavily in artificial intelligence technology. The company's human resources department has begun notifying some employees about the job cuts.
Mar 14 — Mar 26
Meta has agreed to a deal with the company Nebius that could be worth up to $27 billion over five years. The deal is for Nebius to build and operate data centers to support Meta's artificial intelligence projects. Separately, some reports say Meta is having trouble with rogue AI agents, which led to a security incident. Other reports suggest Meta might cut up to 20% of its workforce, possibly to help pay for its big AI spending.
Mar 20
Anthropic in legal and regulatory conflict with U.S. government over security
The artificial intelligence company Anthropic is reportedly considering a lawsuit against the U.S. Department of Defense. The dispute centers on the Pentagon's efforts to use or develop AI technology for military applications, which Anthropic has resisted. Headlines frame this as a significant conflict over the ethics of AI in warfare, contrasting Anthropic's stance with that of its competitor OpenAI, which reportedly agreed to work with the Pentagon. The situation has drawn attention to key figures like Sam Altman of OpenAI and Dario Amodei of Anthropic. The core story is about a major AI firm's refusal to collaborate on military AI and its potential legal challenge to the Pentagon over the issue.
Mar 14
The U.S. Department of Defense and Justice Department have declared Anthropic, the company behind the Claude AI, an "unacceptable risk to national security." Officials say the company's self-imposed "red lines"—rules that could prevent its AI from being used in certain military operations—make it unreliable for warfighting systems. The Pentagon is now actively developing and seeking alternatives to replace Anthropic's technology. In response, the Trump administration has officially classified Anthropic as a "risk" enterprise. Some reports suggest the public feud with the government, particularly with Trump, might paradoxically benefit Anthropic's brand and revenue growth in certain sectors, even as its government contracts are jeopardized.
Mar 21 — Mar 25
The artificial intelligence company Anthropic has filed a lawsuit against the U.S. government. The company is challenging its recent designation as a potential supply chain risk, a label that can restrict its business operations. Microsoft has publicly supported Anthropic's legal fight. The case centers on whether the government's designation was justified and what evidence was used to make that decision.
Mar 10 — Mar 12
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Israel launches major strikes on Iran, killing Supreme Leader and officials
ILPresident Trump threatened to destroy Iran's South Pars gas field and issued an ultimatum to the country following reported Israeli missile strikes on the same facility. The attacks reportedly caused casualties in Iran. Trump also requested a large funding package from Congress related to Iran, which is facing significant opposition. In comments about the strikes, he suggested a U.S.-made missile used in an attack on an Iranian school could have been fired by another country. The situation has led to questions about the coordination between the U.S. and Israel, with some reports suggesting Trump later reprimanded Israel and that further attacks were suspended. The ultimatum to Iran remains in place.
Mar 20 — Mar 31
Major corporate deals and financial moves in energy, tech, and finance
Amazon is raising a large amount of money through a record bond sale in Europe to fund its artificial intelligence goals. The company is also announcing major new investments, pledging tens of billions of dollars to build data centers in Spain. Amazon's CEO, Andy Jassy, has said the company now expects its cloud computing business, AWS, to generate much more revenue from AI than previously forecast. Analysts are adjusting their predictions about how much debt large tech companies focused on AI will take on. Some reports also say Amazon is working on a new smartphone designed around AI features.
Mar 12 — Mar 20
Donald Trump announced plans for a new oil refinery to be built in Texas, which he described as the first major refinery project in the United States in 50 years. He said the project involves a $300 billion investment from Reliance Industries, a large Indian company led by Mukesh Ambani. Trump thanked Reliance for the investment during his announcement. The news came alongside reports that ExxonMobil is also moving some corporate operations to Texas.
Mar 11 — Mar 18
JPBerkshire Hathaway, the investment company led by Warren Buffett, is buying a $1.8 billion stake in Tokio Marine, a major Japanese insurance company. The deal gives Berkshire a 2.49% ownership share in the firm. The companies also announced they are forming a partnership. The move is part of Berkshire Hathaway's ongoing investment activity in Japan.
Mar 24
BlackRock has restricted investor withdrawals from a major private credit fund after a surge in redemption requests. The asset manager also slashed the value of a private loan within the fund to zero. These moves highlight growing stress in the private credit market.
Mar 7
AO/CM/CF+5The United States government has reached a nearly $1 billion agreement with French energy company TotalEnergies to terminate its offshore wind power leases. The deal allows TotalEnergies to walk away from developing offshore wind projects in the U.S. and comes amid the Trump administration's broader push against wind power.
Mar 24
Trump administration imposes new global tariffs, faces legal challenges
GR/IT/PT+3Donald Trump said he would cut off all trade between the United States and Spain. He made the threat in response to Spain's reported refusal to let the U.S. use its air bases for a potential conflict with Iran. Trump also criticized Keir Starmer, the leader of the UK's Labour Party, during the same remarks, saying he was "no Churchill." The comments were made at a campaign rally.
Mar 5 — Mar 12
Donald Trump announced plans to impose new tariffs on goods from the European Union and 14 other countries. The tariffs are expected to affect a range of products, including European wine and pharmaceuticals. European officials are assessing the potential impact, with reports suggesting the EU might seek an exemption from a planned 15% tariff increase. The move has raised concerns in Europe about higher costs for medicines and other goods.
Mar 13 — Mar 29
A group of 24 U.S. states has filed a lawsuit to block new global tariffs imposed by President Donald Trump. The lawsuit argues the tariffs, which are a 10% levy on imports from most countries, are unlawful. Nintendo has also filed a separate lawsuit against the Trump administration over the tariffs, seeking a refund with interest for tariffs it says were unlawfully applied to its products.
Mar 6 — Mar 9
President Donald Trump reportedly threatened to cut off trade with Spain over its stance on the Middle East war. Spanish Prime Minister Pedro Sánchez said he would not give in to the threat and doubled down on his 'no to war' position. In a separate development, a U.S. trade court ordered tariff refunds, a setback for the Trump administration's trade policy. Trump also ordered a bank to provide insurance for maritime trade related to Iran.
Mar 7
A U.S. judge has ordered refunds totaling more than $130 billion for tariffs imposed during Donald Trump's presidency that were ruled illegal. However, a report says U.S. companies are being denied these refunds. Meanwhile, twenty-four U.S. states have filed a lawsuit to stop Trump's latest proposed global tariffs, which some reports suggest might also face legal challenges. Trump has declared plans to levy different tariffs on different countries following a Supreme Court decision and is considering other options.
Mar 7
U.S.-China trade talks continue amid investigations and tech competition
U.S. and Chinese officials met in Paris for trade negotiations. The talks were described as a step to prepare for a planned summit between President Trump and President Xi Jinping. U.S. Treasury Secretary Steven Mnuchin called the discussions 'very good'. China warned that new U.S. tariff moves could damage trade relations. Meanwhile, a large number of U.S. soybean shipments arrived in China. Reports indicate some U.S. officials are considering a more managed approach to trade with China. The outcome of the Paris talks is seen as setting the stage for the upcoming Trump-Xi meeting, where broader trade issues are expected to be discussed.
Mar 20 — Mar 23
The United States has started new trade investigations into China, the European Union, and several other economies, including India and Singapore. These probes are looking into what the US calls unfair trade practices. The investigations are part of an effort to potentially revive tariffs that were previously blocked. In a related move, auto industry groups are urging President Donald Trump to keep Chinese-made cars out of the US market, with one of his advisors stating such vehicles should not be allowed to cross from Canada into the United States.
Mar 13 — Mar 30
Chinese and US delegations met in Paris for a new round of trade talks. The discussions are aimed at easing tensions between the two countries. During the talks, China's trade representative, Li Chenggang, spoke to the media. China also formally complained to the US about a specific trade investigation related to forced labor allegations.
Mar 16
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Federal Reserve holds rates steady amid inflation risks from oil and trade
Federal Reserve Chair Jerome Powell and other officials said they are monitoring how higher oil prices and tariffs could affect inflation. Powell stated the Fed can 'wait and see' how the conflict in the Middle East impacts prices, while noting that tariffs are already keeping inflation elevated. Officials indicated they are prepared to respond if needed. Fed official Miran said he raised his projection for future interest rates due to recent inflation data. The central bank is widely expected to hold its main interest rate steady at its upcoming meeting, while weighing the risks from an oil price shock. The comments suggest the Fed is in a holding pattern, gathering more data before deciding on any changes to interest rates. Financial firms like Goldman Sachs have delayed their forecasts for when the Fed might start cutting rates, citing increased inflation risks from the Middle East conflict.
Mar 20 — Mar 31
The Federal Reserve, led by Chair Jerome Powell, decided to keep its key interest rate unchanged. Powell said it's too early to judge the full economic impact of the war in Ukraine and stated that the current situation is not 'stagflation,' a term from the 1970s. He also warned of a 'difficult situation' and flagged ongoing uncertainty. Powell vowed to remain in his position until a Department of Justice investigation is finished. During the meeting, which previewed an increasingly divided Fed, Powell praised former Fed Chair Paul Volcker's 'willingness to resist' political pressure.
Mar 18 — Mar 21
The U.S. Federal Reserve decided to hold its key interest rate steady. The central bank noted that inflation remains somewhat elevated and projected it might cut rates only once this year. The decision comes as the war in Iran and broader Middle East tensions are creating economic uncertainty. The conflict has driven up oil prices and raised fears about inflation, which is complicating the Fed's policy outlook.
Mar 19
Apple updates product line and services with new devices and ads
Apple has introduced a new, more affordable laptop called the MacBook Neo, which starts at $599. The company also launched a new version of its MacBook Pro with enhanced features for artificial intelligence tasks. At the same time, Apple raised the prices of its existing MacBook Air and MacBook Pro models. Reports indicate this price increase is due to higher costs for memory components. The new MacBook Neo is notable for using a chip similar to those found in iPhones, marking a shift in Apple's laptop design. The announcements represent a dual strategy of expanding into a more budget-friendly market segment while also updating its high-end professional lineup.
Mar 3 — Mar 13
Apple has confirmed it will begin showing paid advertisements within its Maps application in the United States and Canada starting this summer. This is part of the company's broader effort to expand its services business. The ads will appear in search results within the app. The move follows Apple's expansion of ads into other areas like its App Store and Apple TV+.
Mar 25
Apple has reduced the commission it takes from in-app purchases on its App Store in China. The move comes as the company's CEO visited the country and faced government pressure over its store policies. Separately, Apple launched a new version of its high-end AirPods Max headphones, called the AirPods Max 2. The company also reported that its smartphone sales in China increased by 23% at the start of the year, which goes against the broader trend in the industry.
Mar 19
SpaceX and Tesla pursue ambitious projects in space, chips, and autonomy
UAElon Musk's satellite internet service, Starlink, is seeing a varied reception as it tries to expand into new countries. It received official approval to operate in the United Arab Emirates, though with some unspecified conditions. At the same time, Namibia denied Starlink an operating license, citing rules about foreign ownership. Separately, Deutsche Telekom's CEO said the company is open to making deals with rivals to SpaceX's Starlink. In other developments, airlines like SAS are introducing Starlink's high-speed Wi-Fi on flights, and Bangladesh is testing the service on trains.
Mar 25
SpaceX is reportedly aiming to file for an initial public offering (IPO) as soon as this week, according to multiple news reports. The filing would be the first step toward selling shares to the public on a stock exchange. Reports suggest the company, founded by Elon Musk, is considering a massive valuation, with figures around $1.75 trillion being discussed. One report also says the IPO plan includes setting aside a large portion of shares for retail investors, which is an unusual move for a company of this size.
Mar 26
Elon Musk announced that his companies, Tesla and SpaceX, plan to build new advanced chip manufacturing facilities in Texas. The project, referred to as 'Terafab' in some reports, would produce semiconductors for the companies' own use. Musk said the factories would be built in Austin. The plans are for the companies to manufacture their own chips, rather than buying them from other suppliers.
Mar 24
The U.S. National Highway Traffic Safety Administration (NHTSA) has deepened its probe into Tesla's Full Self-Driving (FSD) driver-assistance system. The investigation, now covering about 3.2 million Tesla vehicles, is looking into how the system performs in poor weather conditions and whether its camera-based system is sufficient for safe operation. This is an upgrade from a previous inquiry, prompted by concerns over crashes. The expanded probe will assess the system's overall safety and performance.
Mar 20
DEThe German union IG Metall did not win a majority of seats in the works council election at Tesla's factory in Grünheide, near Berlin. This is the second time the union has lost such an election at the plant. The union has filed a lawsuit to challenge the election results, accusing Tesla of intimidating workers during the voting process. The legal action follows rising tensions between the company and the union, which has been trying to gain more influence at the factory.
Mar 5 — Mar 25
Iran war spurs inflation fears and shifts in energy investment
Iran has launched attacks on shipping and energy infrastructure in the Persian Gulf, including hitting an American oil tanker and setting vessels ablaze. The country has also vowed to block all Gulf oil shipments and threatened to close the Strait of Hormuz, a critical chokepoint for global oil transit. These actions are creating what analysts call the largest oil shock in history, disrupting a region responsible for a significant portion of the world's oil and gas. The conflict has stalled major regional projects, including a massive undersea internet cable project by Meta, and jeopardizes an estimated $300 billion in planned Gulf spending on artificial intelligence and other investments. The war is also rattling Asian investors in Gulf property and stocks. The ongoing hostilities have raised urgent questions about how long Gulf nations can continue pumping oil and have laid bare the world's heavy reliance on energy from the region. Financial firms like Swiss money managers are anticipating shifts in capital flows as a result of the instability.
Mar 13
Oil and gas industry faces operational incidents and assessment changes
A large explosion and fire occurred at a Valero oil refinery in Port Arthur, Texas. The blast was felt miles away, leading officials to issue a shelter-in-place order for nearby residents as a precaution. Valero, the company that operates the refinery, is preparing to restart the facility. The cause of the explosion is still unknown.
Mar 26
Platts, a major commodity price reporting agency, announced a series of technical adjustments to its Market on Close price assessment processes for various oil products. The changes affect how price increments are handled for European fuel oil barges and for clean oil products in the Middle East and Asia. Separately, Platts launched new price assessments for US Gulf Coast benzene and a US Midwest aluminum premium, corrected some earlier Singapore jet fuel assessments, and is seeking feedback on its Dubai crude oil benchmark. These are routine updates to the methodologies used to set daily reference prices for physical commodity trades.
Mar 18 — Mar 24
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BD/BT/MV+3+ 2154 additional sources tracked