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The US Strategic Petroleum Reserve fell to 340.3 million barrels as of June 12, its lowest level since 1983, deepening an emergency stockpile crisis just as Washington and Tehran finalised a preliminary peace framework to reopen the Strait of Hormuz.
The anticipated restoration of commercial tanker traffic through the Strait of Hormuz under the preliminary US-Iran agreement would alter crude import logistics for Gulf Coast refiners, compressing the cost premium embedded in medium and heavy grade feedstock purchases since the conflict began in late …
Crude futures fell for a second consecutive session Tuesday as markets priced in the potential restoration of Gulf supply under the preliminary US-Iran agreement, with Brent settling near $82.72 per barrel, its lowest level since early March, while implementation doubts limited the pace of …
US-listed upstream oil and gas producers fell sharply Monday as crude prices dropped on preliminary US-Iran ceasefire news, with APA Corporation and Devon Energy each declining more than 3.5% and Chevron and Exxon Mobil both falling more than 2.5% in the session's steepest sectoral …
SpaceX stock extended its post-IPO rally into pre-market trading on June 16, climbing about 8.4% to around $209, building on the prior session's 19.6% gain. The move briefly pushed the company's market capitalization above $3 trillion, surpassing both Amazon and Microsoft in valuation.
OpenAI burned through $34 billion in 2025, including approximately $19 billion on research and development and nearly $6 billion on sales and marketing, as the company raced to consolidate its lead in the generative AI market ahead of a planned initial public offering for …
Nvidia Corporation's (NASDAQ: NVDA) $25 billion bond offering, its first debt market transaction since 2021, reflects a strategic evolution toward supplementing equity-generated cash flow with lower-cost bond capital to finance AI infrastructure investment, with the chipmaker locking in borrowing costs across a seven-tranche structure …
A US federal judge dismissed with prejudice a trade secret lawsuit filed by Elon Musk's artificial intelligence company xAI against OpenAI on Monday, ruling that asking job candidates to discuss prior work is routine and cannot be construed as inducing the disclosure of confidential …
Alibaba Group Holding Limited (NYSE: BABA) unveiled on Tuesday the Qwen-Robot Suite, its first artificial intelligence model suite designed to power robotic systems, comprising three purpose-built models covering manipulation, navigation, and world modelling, as China's technology sector shifts investment focus from conversational AI to …
Disclosures of OpenAI's $34 billion in 2025 operating expenditure have renewed investor debate about AI infrastructure spending sustainability, but major cloud providers and competing model developers show no indication of moderating capital commitments, with the technology sector posting 49% year-over-year profit growth in the …
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