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DoE Hands the Keys to Strategic Crude Oil Stockpile to New Firm
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The Department of Energy has awarded a new $1.4 billion contract to Strategic Storage Partners, LLC—hardly a household name—to manage the Strategic Petroleum Reserve (SPR)—America’s emergency stash of crude oil. The new contract covers a five-year term with the option to extend for another five. After a transition period, Strategic Storage Partners will take over from the current SPR management firm, Fluor Federal Petroleum Operations (FFPO) on June 15, 2025. The SPR is more than a rainy-day fund—it’s a key pillar…
Energy Stocks Take a Beating As Tariffs Pack Punch
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Oil stocks took a solid beating today after new tariff announcements out of Washington sent shockwaves through global markets. Add in fresh chatter from OPEC+ about potential production increases, and you’ve got the perfect storm for energy investors. Never mind that imports of oil, gas, and refined products earned themselves an exemption from Liberation Day. Here’s how some of the major (and supermajor) oil names fared—ranked from least bruised to most battered: TotalEnergies SE (TTE): The French supermajor posted the smallest…
Schlumberger AI Drilling Deal Could Change Deepwater Extraction Forever
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These are big days for oilfield services (OFS) providers, and the awarding of a major drilling contract to U.S.-based giant SLB (NYSE:SLB) for an ultra-deepwater Trion project offshore Mexico is more than just another deal. It’s where the deepest offshore drilling becomes the purview of artificial intelligence. The contract, awarded by Australia-based Woodside Energy Group (NYSE:WDE), Trion’s operator, will see SLB employ its artificial intelligence-enabled drilling capabilities to drill 18 ultra-deepwater wells with improved operational…
Oil Executives Voice Concern Over Trump Energy Policies as Prices Plummet
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As U.S. President Donald Trump looks increasingly likely to shift away from the Biden-era acceleration of renewable energy deployment in favour of the expansion of the fossil fuel industry, oil executives are calling on the government to create greater market stability. The U.S. energy market has boomed in recent years, largely due to the introduction of former President Biden’s Inflation Reduction Act (IRA), which attracted high levels of green financing, and the increase of domestic oil and gas production. Favourable federal policies have…
U.S. Seeks Higher Spending Pledges from NATO Members
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US Secretary of State Marco Rubio said the Trump administration is committed to remaining in the NATO and urged the military alliance's 32 members to pledge to increase spending to strengthen its defense capabilities. Speaking as he arrived at a two-day meeting of NATO foreign ministers in Brussels, Rubio said the United States was "as active as it has ever been" in the alliance as he sought to allay ally concerns that US President Donald Trump is undercutting transatlantic relations. "President Trump's made clear he supports NATO. We're going…
Nuttall: Oil Fundamentals Support OPEC+ Decision To Ease Output Cuts
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Oil market fundamentals support the OPEC+ decision to increase May’s crude oil production by three times more than what the group originally planned, energy investor and senior portfolio manager at Ninepoint Partners Eric Nuttal told BNN Bloomberg on Thursday. “It was a surprising press release to wake up to,” Nuttal said, speaking of OPEC’s decision. “Unfortunately for them, I think they could justify it through looking at strong enough fundamentals, at least before yesterday—looking at inventories being…
GCC Bourses Rack Up Losers as OPEC+, Tariffs Send Oil Tanking
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Gulf Cooperation Council (GCC) nations saw their bourses plunge on Thursday following U.S. President Donald Trump’s unveiling of sweeping ‘Liberation Day’ tariffs on importers that helped send oil prices plunging 7% earlier in the day. In the UAE, the Dubai stock index was gearing up to record its biggest drop so far this year, shedding 1.8%, while the Abu Dhabi index fell 0.8%. Saudi Arabia’s main index dropped 0.4%, partly driven by losses from state-run oil giant, Saudi Aramco. Lower oil prices in recent years, combined…
Trump’s Tariffs: Trade War Goes Global
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It’s official: President Donald Trump has announced sweeping tariffs on friends and foes alike, with the minimum rate at 10% and higher versions of between 20% and as much as 49%. Oil prices took a dive after the announcement, predictions of a grim economic future multiplied, and countries around the world vowed to retaliate. It’s a game of tariffs with a twist: energy imports were exempted from the tariffs. On Wednesday afternoon, President Trump announced a 10% additional levy on most goods that enter the United States. For some trade…
UK Prepared for Economic Challenges in Changing World
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Sir Keir Starmer has vowed to “keep a cool head” in the face of the “economic impact” of Donald Trump’s 10 per cent tariffs on UK exports to the US, amid fears of a wider trade war. The Prime Minister spoke to business chiefs in Downing Street this morning in the wake of sweeping global import taxes announced by the US President at the White House last night. Trump imposed a rate of 20 per cent on the European Union (EU), 24 per cent on Japan and 34 per cent on China, among a wide range of others, in a speech hailing…
Your Next iPhone Could Cost $2,300—But Oil Prices Might Stay Stuck
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President Trump’s sweeping new tariffs are sending shockwaves through global markets, sparking concerns across industries—from tech to energy. Announced Wednesday, the new tariff package imposes a minimum 10% duty on all U.S. imports and much higher rates for countries with significant trade surpluses with the United States. China, facing a 54% tariff, is expected to be among the hardest hit. Apple could feel the impact more than most. Analysts estimate that if the company passes the full cost of tariffs on to consumers, the price of…
British Steel Faces Blast Furnace Closures
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Via Metal Miner Steel Industry leader British Steel is set to start consultations on permanently blowing down the operating blast furnaces at Scunthorpe. The move comes after the company failed to reach an agreement with the UK government on financial aid for conversion to green steelmaking. “Since 2020, the shareholder of British Steel, Jingye, has invested more than £1.2 billion [$1.55 billion] to maintain operations amid ongoing production instability and significant financial losses of around £700,000 [$906,400] a day,”…
Is It Time to Eliminate State Public Utility Commissions?
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In a time of institutional upheaval and reappraisal The Trump administration, with help from the Supreme Court, is trying to weaken or abolish Federal regulation by administrative agencies. States with a similar philosophical bent might attempt to do the same. Here we examine the issues that will arise when policy wonks make their “modest” proposals to abolish state agencies that regulate public utilities. They might argue that these agencies no longer suit the purpose for which they were intended in the late nineteenth and early twentieth…
Russia and Ukraine Trade Accusations of Attacks on Energy Sites
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In the latest of a series of accusations and repudiations, Russia accused Ukraine on Thursday of having launched what Moscow said were “provocative” attacks on energy infrastructure. “The attacks on Russia's energy infrastructure are targeted and are purely provocative and demonstrative,” Maria Zakharova, spokeswoman of the Russian Foreign Ministry, said on Thursday, as carried by Reuters. Last month, Russia agreed to a 30-day suspension of attacks on Ukrainian energy infrastructure in exchange for an identical halt of attacks…
Ukraine Seeks Troop Deployment Discussion With Partners
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Western military leaders will discuss the possible deployment of troops to Ukraine who would monitor a potential cease-fire in the conflict with Russian and be part of the country’s new security structure, Ukrainian President Volodymyr Zelenskyy said in his nightly video address. “This is our starting point: the Ukrainian army must be strong enough, and on this foundation, the entire security architecture is built,” Zelenskyy said. “A meeting will take place in just a few days -- on Friday (April 4) -- with representatives…
Oil Prices Crash 7% on Trump Tariffs, OPEC Ramp-Up
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The price of WTI crude oil dropped more than 7% on Thursday as President Donald Trump’s Liberation Day tariffs blitzed markets and OPEC+ threw an unexpected production curveball. At 10:38 a.m. in New York, Brent crude was trading at $70.21—a 6.32% slide—while WTI sat at $66.80, down nearly 7%. The double whammy came as OPEC+ dropped a surprise output hike and Trump lit a fresh round of tariffs aimed at leveling the playing field with other countries. Eight OPEC+ nations announced Thursday they’ll raise output by 411,000…
Russian Oil and Gas Revenues Slumped by 17% in March
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Russian revenues from oil and gas plunged by 17% in March from a year earlier, according to data from Russia’s finance ministry. Oil and gas revenues for the Kremlin fell to $13.1 billion (1.1 trillion Russian rubles) last month, while revenues for the first quarter dipped by nearly 10% on the year to $31.4 billion (2.64 trillion rubles), the official Russian data showed. Much of the decline was likely attributable to the lower oil prices in February and March, as well as the initial chaos with Russian oil trade after the U.S. sanctions from…
Oil Traders Shun Chinese Tankers as Trump Prepares Port Fees
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Oil traders are avoiding hiring tankers built in China amid concerns that port fees could be coming for Chinese vessels at U.S. ports as part of a plan by President Donald Trump to revitalize the American shipbuilding industry. Under the plan – not yet finalized – the Office of the US Trade Representative (USTR) proposes a per-port-entry fee of up to $1.5 million on Chinese-built vessels, and up to $1 million per-port-entry fee on any vessel (Chinese built or non-Chinese-built) for operators that have any Chinese-built vessels in their…
Japanese Trading Giant Mitsubishi May Weigh Investment in Alaska LNG
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Japan’s trading giant Mitsubishi Corporation could consider a potential investment in the proposed $44-billion Alaska LNG project, Mitsubishi’s Katsuya Nakanishi told Reuters on Thursday, as the U.S. is pitching the benefits of Alaskan energy resources to allies in Asia. Mitsubishi would need careful due diligence before taking any decision on a potential investment in the Alaska project, Nakanishi added. Mitsubishi is one of the five joint venture partners in the LNG Canada project on Canada’s West Coast, which is nearing completion…
OPEC+ to Raise Oil Production by More Than Expected in May
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OPEC+ is going full throttle with reversing the production cuts with output set to rise by more than expected in May, “in view of the continuing healthy market fundamentals and the positive market outlook.” The OPEC+ countries that have been cutting their oil production for more than a year decided on Thursday to continue easing the reductions by adding 411,000 barrels per day (bpd) to their combined supply from May. The eight OPEC+ countries that have been withholding production – Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan,…
Global Coal Power Fleet Continues to Grow
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The world added last year the smallest coal power capacity in 20 years, but the global fleet of coal-fired plants continued to grow despite the surge of renewables, data from Global Energy Monitor’s annual survey showed on Thursday. A total of 44.1 gigawatts (GW) of coal power capacity was commissioned, while 25.2 GW was retired in 2024, resulting in a net increase of 18.8 GW, according to data from the Global Energy Monitor’s Global Coal Plant Tracker. The capacity commissioned was almost 30 GW below the annual average for 2004 to…
BP Begins Promised Major Oil and Gas Project Start-ups
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BP said on Thursday that its Cypre development offshore Trinidad and Tobago delivered first gas, as yet another project started up since the supermajor reset its strategy to shift focus back to oil and gas. Cypre is one of BP’s 10 major projects expected to start up worldwide between 2025 and 2027, announced as part the reset strategy to grow upstream production. The Cypre development is the second major project to start up in two months, during which the UK-based supermajor sought to convince shareholders its investment case is now stronger…
Tariffs and Demand Fears Push Oil Prices Further Down
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Crude oil prices slumped by 3% earlier this year as traders digested the barrage of tariffs that President Trump unleashed on U.S. trade partners. Between 10% and 34% for the biggest trade partners of the United States, the tariffs are expected to affect demand for pretty much everything, including energy commodities. At the time of writing, Brent crude was trading at $73.23 per barrel, with West Texas Intermediate at $69.94 per barrel, both down from Wednesday but still higher than a month ago and relatively unchanged from a week ago. “Trump's…
Mexico Revises Oil Production Down
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Mexico’s finance ministry has revised the country’s crude oil production rate for the year by 129,000 bpd less than previously expected. Instead of 1.8 million bpd—the target set by President Claudia Sheinbaum—Mexico is seen producing 1.762 million bpd, Reuters reported, citing the ministry. Production next year, however, is expected to rise to 1.775 million barrels daily as a result of “development of new strategic projects and the eventual incorporation of additional fields if exploration proves favorable,”…
LNG Canada Moves Closer to Launch
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LNG Canada has received its first import cargo of liquefied gas that it will use for equipment testing as the facility nears completion, which is scheduled to take place later this year. The Greece-flagged Maran Gas Roxana tanker arrived safely in Kitimat, LNG Canada said in a news release without specifying the size of the LNG cargo. “This activity is critical to our safe start-up and commissioning process in advance of our operations, and to achieving our first LNG export cargoes by the middle of 2025,” the company said. LNG Canada…
Canada Plots Energy Escape Route from Trump’s America
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The leaders of Canada’s two biggest political parties are promising expansion and modernization of energy infrastructure to reduce dependence on the United States for energy exports amid U.S. President Donald Trump's tariff and sovereignty threats. Mark Carney, the Prime Minister who replaced Justin Trudeau and is leading the Liberal Party ahead of the April 28 federal election, says that Canada’s principal investment imperatives include “expanding and modernizing our energy infrastructure so that we are less dependent both on…
One in Five Refineries Faces Shutdown Despite Rising Fuel Demand
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Refineries are switching to biofuels or shutting down due to hostile regulations—but demand for oil products is growing. This could result in either a market imbalance that will make these products more expensive or a geographical imbalance, which those who care about supply security wouldn’t like. A total of 101 out of 410 refineries around the world are at risk of getting shut down over the next decade, Wood Mackenzie analysts estimated recently, noting that this number represented 21% of global refining capacity. The reasons for…
Oil Drops, Markets Rattle as Trump Unleashes Tariffs
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Oil prices slipped on Wednesday afternoon after initially climbing more than $1 as markets digested a sweeping new round of global tariffs announced by an aggrieved U.S. President Donald Trump from the Rose Garden. The announcement rattled equity markets and fueled uncertainty across commodities, despite initial gains. Both Brent and WTI crude futures lost ground on Wednesday afternoon, reversing gains made after Trump revealed that a minimum 10% tariff would be imposed on all countries exporting goods to the United States. Additionally,…
Iran Targets Dramatic Output Increase From Oil Fields Bordering Iraq
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Iran is targeting a dramatic increase in oil production from the fields it shares with neighbouring Iraq, according to the chief executive officer of its Petroleum Engineering and Development Company (PEDEC), Nasrollah Zarei. These include its enormous Azadegan oil field (split into North and South sites) that sits on the same reservoir as Iraq’s huge Majnoon site, and the massive Yadavaran oil field which occupies the same reservoir as Iraq’s Sinbad site. Other notable major shared fields – among many others -- are Azar (on the…
State Control Returns to Mexican Energy Production
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Mexico’s energy sector is undergoing a dramatic transformation, which was announced on the 87th anniversary of the original oil expropriation by Lazaro Cardenas. These new ‘leyes secundarias’ will substantially alter the path set by the 2013 energy reforms that opened the industry to private and foreign investment. Former President Enrique Peña Nieto’s government promised that inviting private companies into oil, gas and electricity production would modernize infrastructure, reduce costs and boost efficiency. However,…
Natural Hydrogen Find Challenges Energy Assumptions
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About 20 years ago, I was interviewing a candidate for a position at a major oil and gas company. On paper, they had impressive credentials, including extensive experience with hydrogen. Naturally, I asked what I thought was a straightforward follow-up: “What are the primary sources of commercial hydrogen?” The answer I received stopped me cold: “You drill a hydrogen well.” That was a disqualifying response, and for good reason. Commercial hydrogen is not produced from hydrogen wells. The overwhelming majority comes from…
Oil Holds Steady as Market Prepares to Panic over ‘Liberation Day’
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Oil prices were largely holding steady Wednesday afternoon, waiting for the other shoe to drop on the prospect of a failed nuclear deal with Iran that could lead to military conflict, and as the Trump administration gears up to make a big market-rattling tariff announcement in the afternoon. At 2:47 p.m. ET on Wednesday, Brent crude was trading up 0.66%, at $74.98, while the U.S. crude benchmark, West Texas Intermediate (WTI), was trading up 0.80% at $71.77. Most market attention at the moment remains focused on Trump’s plan to announce sweeping…
China Aims to Maintain Leadership in Aluminum Sector
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Via Metal Miner At a time when analysts expect the global demand for aluminum to rise, a new development in China may significantly impact both aluminum market demand and the country’s internal consumption. That said, market watchers know that any announcement around metals coming out of Beijing these days also has to be looked at through the lens of the ongoing tariff war with the United States. It’s a pivotal moment for China’s aluminum industry, even as the nation’s production capacity nears its government-imposed…
Trump Tariffs Leave UK Economy Uncertain
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Nature abhors a vacuum, or so they, or potentially Aristotle, once said. During weeks like this, it feels more accurate to say it’s the news which is doing the abhorring. Speculation has been, understandably, rampant as to the nature, variety, and impact of the tariffs the US President Donald Trump is expected to introduce on Wednesday, and just how they might affect everything from Chancellor Rachel Reeves’ fiscal headroom and the price of your supermarket shopping, to Tesla stocks and fears of a global recession. Trump has already…
Germany Reconsiders Storing Gold in the United States
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For decades, the idea that Germany’s gold reserves - some of the largest in the world - might not be safe in the vaults of the New York Federal Reserve would have seemed like the stuff of conspiracy theories. But as the political landscape shifts in Washington - and questions have been raised as to what's actually in US vaults, some German lawmakers are beginning to wonder aloud: Is their gold still secure? Germany holds the second-largest hoard of gold on the planet, surpassed only by the United States itself. Roughly 37 percent of that…
ConocoPhillips Considers Selling Prime Oklahoma Assets
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ConocoPhillips is considering the sale of oil and gas assets in Oklahoma, which it acquired through its $22.5-billion purchase of Marathon Oil last year, Reuters reported exclusively on Wednesday, citing unnamed sources familiar with the matter. The company has enlisted investment bank Moelis & Co. to facilitate the sale of these assets, according to Reuters’ unconfirmed report, noting that the process is still in its early stages, and a deal has yet to be finalized. The sale could potentially involve assets in the Anadarko Basin,…
Iran's Nuclear Program Sparks Debate in Congress
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US lawmakers and experts at a House Foreign Affairs Committee hearing underscored a rare bipartisan consensus -- preventing Iran from acquiring nuclear weapons as a top priority. However, divisions remain over how far Washington should go in applying pressure versus pursuing diplomacy. Republican lawmakers strongly supported the Donald Trump administration’s decision to reinstate the “maximum pressure” campaign that defined his Iran policy during his first term as US president. “The maximum pressure campaign devastated Iran’s…
U.S. Energy Department Re-Launches Voluntary Staff Exit Program
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U.S. Energy Secretary Chris Wright is reinstating the so-called Deferred Resignation Program (DRP) to incentivize employees to leave voluntarily before layoffs begin as part of the Trump Administration’s push to reduce the federal workforce and bureaucracy. “This is a difficult but necessary effort to make government more efficient and accountable. In conducting any such exercise, it is important to consider how optimization initiatives could impact DOE personnel,” Secretary Wright wrote in a memo to staff obtained by POLITICO’s…
EIA: US Crude Oil Inventories Climb 6.2 Million Barrels
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Crude oil inventories in the United States saw a large increase of 6.2 million barrels during the week ending March 28, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading up prior to the crude data release by the U.S. Energy Information Administration after the American Petroleum Institute (API) reported on Tuesday a build of 6.037 million barrels in U.S. crude oil inventories amid a small gasoline draw. The Brent benchmark was trading up 0.01% at 10:28 a.m. ET at $74.50—a…
Russia Expands Halts to Oil Export Capacity in the Black Sea
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Russia has ordered a 90-day halt to one of several berths at the port of Novorossiysk, its key Black Sea oil export route, a day after it ordered the temporary shutdown of two of three moorings at the key export terminal for Kazakhstan’s oil. Transneft, the Russian pipeline monopoly, announced on Wednesday that the ongoing safety checks from Russia’s transportation authority resulted in an order for a 90-day halt to oil loading at berth 8 at the Novorossiysk Commercial Sea Port (NCSP). Russia’s Federal Agency for Transport Supervision…
Global Crude Oil Shipments Rise Ahead of OPEC+ Supply Boost
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Global seaborne crude oil flows rose in March from February, just ahead of the supply increase coming from OPEC+ in April, oil flows tracking data by Bloomberg showed on Wednesday. Global crude exports averaged 39.92 million barrels per day (bpd) in March, up by 119,000 bpd from February levels, according to the observed shipments tracked by Bloomberg. Flows from Brazil, Canada, and Russia jumped last month from a month earlier, while crude flows from the United States and the North Sea saw large decreases. Shipments from the world’s top…
OPEC+ Energy Ministers to Discuss Production Quota Compliance
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Energy ministers of the OPEC+ producers will discuss in a Thursday call the importance of sticking to the oil production quotas under the deal, delegates from the alliance told Bloomberg on Wednesday. In every press release for years, the OPEC+ group has been stressing how important sticking to the quotas is. Overproduction has partly negated the bullish effects of the cuts on the oil market. The alliance is beginning the easing of the cuts this month, adding 138,000 barrels per day (bpd) to combined production. However, all OPEC+ calculations…
India Hikes U.S. Crude Oil Imports by 67% in March
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India’s crude oil imports from the United States jumped by 67% in March from a month earlier as Indian refiners scrambled to replace Russian volumes and the U.S. pushed for India and other major trade partners to buy more American energy. India’s U.S. crude oil imports thus jumped to about 244,000 barrels per day (bpd) last month, up from 146,000 bpd in February, Indian outlet Economic Times reports, citing data from energy cargo tracking firm Vortexa. India is now buying more U.S. oil as the country is looking to reduce its huge trade…
U.S. Senators Plan 500% Tariff on Russian Energy Buyers If Peace Talks Stall
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A bipartisan group of 50 U.S. Senators has prepared a plan to slap a 500% tariff on imported goods from countries that buy Russian oil, gas, and uranium if Russia refuses to engage in good-faith negotiations for a lasting peace with Ukraine. Senators Richard Blumenthal (D-Connecticut) and Lindsey Graham (R-South Carolina) led 50 of their colleagues – evenly divided by party affiliation – to propose “primary and secondary sanctions against Russia and actors supporting Russia’s aggression in Ukraine,” the statement from…
India Power Utility Seeks Partners for Nuclear
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India’s NTPC, the country’s largest power utility, is looking for partners to help it build 15 GW of new nuclear capacity, Reuters has reported, citing tender documents. Partnering with a foreign company was made possible by recent amendments to Indian nuclear energy legislation that previously did not allow for foreign investment in Indian nuclear energy or participation in the construction of nuclear power capacity. There are two laws that have made it impossible for non-Indian—and private—companies to take part in the…
Thailand Pledges to Buy More Energy From the U.S.
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Thailand has become the second Asian nation to promise to buy more U.S. energy commodities in a bid to avoid tariffs in as many days. Vietnam earlier this week did the same as import tariffs loom over all U.S. trade partners that have a surplus with Washington. The Thai government has estimated that an additional import tariff of 11% from the United States would lead to a hit of $8 billion for the state coffers, Bloomberg has reported, which motivated the decision to commit to more energy buying. The move follows Vietnam’s decision to reduce…
U.S. Sanctions Push Venezuelan Oil Exports Down
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The latest sanction action of the United States against Venezuela sent the latter’s oil exports down 11.5% in March from the previous month, tanker tracking data reported by Reuters has revealed. Last month, President Trump refused to extend a sanction waiver for Chevron so it could continue to operate in Venezuela, and he also threatened a 25% additional tariff on foreign products sold to the U.S. by countries that continue buying Venezuelan crude. Apparently, the effect of these moves has been immediate, hitting Venezuela’s oil exports.…
Kazakh CPC Oil Exports Capped at 700,000 bpd After Russian Suspension
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Caspian Pipeline Consortium (CPC) blend oil exports have been capped at 1 million barrels per day, taking 700,000 bpd off the market, after Russia ordered the shutdown of two out of three moorings at the CPC main Black Sea oil export terminal. The order went into force on April 1. The Russian government has a 24% stake in CPC alongside minority shareholders Chevron and ExxonMobil. The closure of the SPM-1 and SPM-2 moorings followed safety inspections by Russia’s Federal Agency for Transport Supervision, triggered by the…
Saudi Arabia Faces Oil Price Dilemma
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As Saudi Arabia pushes ahead with its ambitious Vision 2030 plan to build huge futuristic cities and resorts, the world’s top crude oil exporter will need to borrow more money on the debt markets as oil prices continue to linger at levels of about $20 per barrel lower than the Saudi fiscal breakeven oil price. The Kingdom, the leader and main architect of the OPEC+ production cuts, is starting to ease a small part of these cuts on April 1, per the group’s latest plan to add 138,000 barrels per day (bpd) to supply this month. Rising…
6G to Play Critical Role in Autonomous Vehicles and Drones
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The global rollout of 5G wireless networks over the past five or so years has been a bit of a mixed bag of success. On one hand, 5G has achieved significant advancements, notably in faster speeds, lower latency, and increased network capacity, enabling new applications like enhanced streaming, gaming, and remote medical services, as well as supporting industries like smart cities and autonomous vehicles. While 4G usually tops out at ~100 megabits per second (Mbps), 5G pushes that to a sizzling 10 gigabits per second (Gbps), with latencies of 1…
U.S. Uranium Market Goes Radio Silent on Tariff Shock
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Uranium purchases in the United States have slowed considerably as power utilities process the effect of President Donald Trump’s tariff offensive in the market—and that offensive may yet transform that same market. Bloomberg reported this week that uranium purchases by U.S. power utilities had dropped by 50% ahead of the 10% import tariff that Trump imposed on Canadian energy exports. The publication noted that those power utilities source more than a quarter of their uranium from Canada, which makes the potential impact of the tariffs…