Shares of Generac Holdings, a backup power generation company, experienced a notable surge of over 7% on Monday, driven by the rapid intensification of Hurricane Milton into a Category 5 storm. As the storm approaches, it is projected to move north of the Yucatan Peninsula on Monday and Tuesday, subsequently crossing the Gulf of Mexico… Continue reading Shares of generator maker Generac soar, insurance stocks fall as Hurricane Milton intensifies

U.S. crude oil prices surged over 3% on Monday as the market remained on edge in anticipation of potential Israeli military action against Iran. The spike in oil prices follows a week of significant increases, fueled by fears that Israel may retaliate against Iran’s oil industry after Tehran launched a ballistic missile attack. Last week,… Continue reading U.S. crude oil jumps more than 3%, trades near $77 as market waits for Israel strike against Iran

Israel’s government has issued a strong warning of severe repercussions in response to Iran’s unprecedented missile barrage targeting Tel Aviv, which has escalated tensions in the region and raised concerns about a potential all-out war between the two nations. On Tuesday evening, Iran launched approximately 180 ballistic missiles at multiple sites in Israel, framing the… Continue reading As Netanyahu vows Iran payback, markets watch for dangers of further escalation

U.S. crude oil prices experienced an increase of more than 1% on Wednesday, although they retreated from earlier session highs due to a bearish U.S. inventory build. According to the Energy Information Administration, U.S. oil stockpiles rose by 3.9 million barrels last week, alongside a 1.1 million barrel increase in gasoline inventories. This inventory data… Continue reading Crude oil rises nearly 1% as Israel vows ‘painful’ response to Iran missile attack

Saudi Arabia has revised its economic outlook by cutting growth forecasts and raising budget deficit estimates for the fiscal years 2024 to 2026, as it anticipates higher spending amidst lower projected oil revenues. According to the latest pre-budget report released by the Ministry of Finance, the real gross domestic product (GDP) is now expected to… Continue reading Saudi Arabia slashes growth forecasts, sees wider budget deficits

U.S. crude oil prices surged by over 5% on Tuesday following Iran’s missile attack on Israel, intensifying fears of a broader Middle Eastern conflict. The Israel Defense Forces (IDF) confirmed the missile launches from Iran, urging citizens to seek shelter as explosions were heard from interceptions or fallen projectiles. Energy prices reflected the heightened tensions,… Continue reading Crude oil spikes more than 5%, hits high of session after Iran fires missiles at Israel

The recent decline in global oil prices, with Brent crude falling below $70 a barrel in early September, signals a challenging period for oil-producing nations like those in OPEC+, as oil revenues are crucial for their economies. OPEC+ extended oil production cuts by two months in an attempt to stabilize prices, but the efforts have… Continue reading OPEC is highly bullish on long-term oil demand growth. Not everyone agrees

Nuclear startup Oklo is advancing towards the construction of its first commercial microreactor, with CEO Jacob DeWitte announcing that the company has received approval from the Department of Energy to conduct site investigations at Idaho National Laboratory in Idaho Falls. These site assessments, which will involve infrastructure planning, environmental surveys, and geotechnical work, mark the… Continue reading Sam Altman-backed nuclear startup Oklo to start site work for Idaho microreactor

On Tuesday, U.S. crude oil prices traded above $71 per barrel, reflecting a combination of factors influencing the market. Prices rose due to disruptions in oil production caused by Hurricane Francine, which has impacted infrastructure in the Gulf of Mexico. Svetlana Tretyakova, a senior analyst at Rystad Energy, noted that these supply disruptions are significant,… Continue reading U.S. crude oil trades above $71 per barrel amid Fed rate cut optimism, Gulf of Mexico disruptions

On Monday, a natural liquid gas pipeline near Houston experienced a major eruption, leading to extensive evacuations and shelter-in-place orders. The fire, which originated at a pipeline facility operated by Energy Transfer, prompted the evacuation of around 50 homes in Deer Park, located about 20 miles southeast of Houston. Additionally, nearly 1,000 homes and businesses… Continue reading Houston-area pipeline fire prompts evacuations, shelter-in-place orders for thousands

The future of lithium production in the U.S. is gaining significant momentum in Arkansas, as major companies such as ExxonMobil, Albemarle, and Standard Lithium invest heavily in the state’s lithium resources. This investment surge comes amid a global increase in lithium demand, driven by the growth of electric vehicles (EVs) and energy storage solutions. In… Continue reading How oil-rich Arkansas became a hotbed of lithium mining

On Wednesday, solar and clean energy stocks experienced notable gains following the declaration of Vice President Kamala Harris as the likely winner of the first debate ahead of the November election. The Invesco Solar ETF (TAN) and the iShares Global Clean Energy ETF (ICLN) saw increases of more than 3% and 2%, respectively, in morning… Continue reading Solar stocks gain as Wall Street says Harris won the debate against Trump