A black Jaguar SUV with no one behind the wheel pulls up on a London street. It’s electric and equipped with Waymo’s autonomous driving system. A passenger gets in, selects a destination on their phone, and the car pulls smoothly into traffic. Within the next few years, this scene could move from novelty to normality as Waymo, Google’s parent company Alphabet’s self-driving car division, plans to launch its robotaxi service in the UK capital, with testing already underway and a pilot service scheduled for April 2026. The…

U.S. President Donald Trump may pride himself on his ability to negotiate a winning deal, but his latest actions in Iran look more akin to craps shoot action from one of his former casinos, albeit with dice he thought might be loaded in his favour. Rather like his friend Russian President Valdimir Putin’s belief that his ‘special military operation’ in Ukraine would be effectively wrapped up in seven days, so Trump seems to have believed that his foray into Iran would be essentially finished within the same sort of timeframe.…

Two Qatari vessels carrying liquefied natural gas (LNG) have been forced to abandon an attempt to exit the Strait of Hormuz in what would have been the first export of Qatari LNG in more than a month. The Al Daayen and the Rasheeda aborted their attempt to transit the Strait of Hormuz on Monday, with ship-tracking data compiled by Bloomberg revealing they U-turned away from the strait after earlier heading eastward. The Al Daayen is still signaling that China, Qatar’s largest LNG buyer, is its next destination, though destinations are not…

Two Qatari vessels carrying liquefied natural gas (LNG) have been forced to abandon an attempt to exit the Strait of Hormuz in what would have been the first export of Qatari LNG in more than a month. The Al Daayen and the Rasheeda aborted their attempt to transit the Strait of Hormuz on Monday, with ship-tracking data compiled by Bloomberg revealing they U-turned away from the strait after earlier heading eastward. The Al Daayen is still signaling that China, Qatar’s largest LNG buyer, is its next destination, though destinations are not…

Two Qatari vessels carrying liquefied natural gas (LNG) have been forced to abandon an attempt to exit the Strait of Hormuz in what would have been the first export of Qatari LNG in more than a month. The Al Daayen and the Rasheeda aborted their attempt to transit the Strait of Hormuz on Monday, with ship-tracking data compiled by Bloomberg revealing they U-turned away from the strait after earlier heading eastward. The Al Daayen is still signaling that China, Qatar’s largest LNG buyer, is its next destination, though destinations are not…

Currently unknown investors netted tens of millions of dollars in profit by placing huge trades in the oil futures markets just 15 minutes before President Donald Trump announced he was extending the deadline for strikes on Iran's energy infrastructure by five days to allow for nonexistent "negotiations" (which then turned into an additional 10 days—which meant little since U.S. and Israeli bombing simply continued). Because these investors bet on a fall in oil prices, they made money when the price of oil dropped sharply after the announcement.…

Tesla Inc. is increasingly betting its future on AI, autonomy and robotics — but it still depends on selling cars to finance that shift, and that core business is under pressure, Bloomberg reported this week.  Wall Street estimates point to roughly 372,160 vehicle deliveries last quarter. That would mark an 11% increase from a weak year-ago period, yet still place among Tesla’s softer recent results and far below its near-500,000 peak quarters. Earlier headwinds — including political backlash involving Elon Musk and Model…

The premiums for U.S. West Texas Intermediate crude have soared in the spot market to a record high of between $30 and $40 per barrel above key regional benchmarks as Asia and Europe scramble for supply amid the de facto closure of the Strait of Hormuz. WTI Midland is being offered for July delivery in north Asia at premiums of between $30 and $40 per barrel, depending on the benchmark against which they are marked, trading sources told Reuters on Monday. With most of the Middle Eastern supply still trapped at Hormuz and all Gulf producers slashing…

The premiums for U.S. West Texas Intermediate crude have soared in the spot market to a record high of between $30 and $40 per barrel above key regional benchmarks as Asia and Europe scramble for supply amid the de facto closure of the Strait of Hormuz. WTI Midland is being offered for July delivery in north Asia at premiums of between $30 and $40 per barrel, depending on the benchmark against which they are marked, trading sources told Reuters on Monday. With most of the Middle Eastern supply still trapped at Hormuz and all Gulf producers slashing…

The key Russian oil export terminal at Novorossiysk was on fire early on Monday following an overnight drone attack, as Ukraine intensifies strikes on Russia’s oil infrastructure to reduce its export capabilities amid surging oil prices.  The attack comes as another of Russia’s ports, Ust-Luga, resumed oil loadings after multiple days of disruptions due to drone attacks in the Leningrad region. But instead of offering some respite to global oil markets, the Novorossiysk terminal was set ablaze. The area at the port of Novorossiysk,…

The key Russian oil export terminal at Novorossiysk was on fire early on Monday following an overnight drone attack, as Ukraine intensifies strikes on Russia’s oil infrastructure to reduce its export capabilities amid surging oil prices.  The attack comes as another of Russia’s ports, Ust-Luga, resumed oil loadings after multiple days of disruptions due to drone attacks in the Leningrad region. But instead of offering some respite to global oil markets, the Novorossiysk terminal was set ablaze. The area at the port of Novorossiysk,…

US President Donald Trump repeated his threat to strike Iranian infrastructure hard if Tehran does not open the Strait of Hormuz, using explosive language hours after announcing that US forces rescued the missing crew member from a downed F-15 fighter jet. "Tuesday [April 7] will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!! Open the F****** Strait, you crazy bastards, or you’ll be living in Hell - JUST WATCH!" he wrote in a post on his Truth Social platform. Trump's timeframe for his…

India’s economy will grow by lower rates over the next year than initially expected as the energy supply shock from the Middle East is hitting supply and manufacturing and raising prices for industry and consumers, analysts say. The war in the Middle East and the de facto closed Strait of Hormuz have crippled oil, LNG, and LPG supply to India, which is the world’s third largest crude oil importer and relies on the Strait of Hormuz for 90% of its imported LPG, the liquefied petroleum gas most households use for cooking. Iran has begun…

India’s economy will grow by lower rates over the next year than initially expected as the energy supply shock from the Middle East is hitting supply and manufacturing and raising prices for industry and consumers, analysts say. The war in the Middle East and the de facto closed Strait of Hormuz have crippled oil, LNG, and LPG supply to India, which is the world’s third largest crude oil importer and relies on the Strait of Hormuz for 90% of its imported LPG, the liquefied petroleum gas most households use for cooking. Iran has begun…

India’s economy will grow by lower rates over the next year than initially expected as the energy supply shock from the Middle East is hitting supply and manufacturing and raising prices for industry and consumers, analysts say. The war in the Middle East and the de facto closed Strait of Hormuz have crippled oil, LNG, and LPG supply to India, which is the world’s third largest crude oil importer and relies on the Strait of Hormuz for 90% of its imported LPG, the liquefied petroleum gas most households use for cooking. Iran has begun…

This week saw something that does not happen very often. WTI, normally trading at a discount to Brent crude, moved higher than the North Sea-focused benchmark. Traders explained it with fears of tight supply in the immediate term and some relief later this year. Some, however, doubt this relief would come soon enough to avoid something few like to talk about: demand destruction. Indonesia has started rationing fuel, capping daily fuel purchases to 50 liters per car for private consumers and sending civil servants to work from home to conserve fuel.…

Since the United States intervention in Venezuela on January 3rd, which effectively brought an end to President Nicolás Maduro’s 13-year dictatorship, the Trump administration has had a heavy hand in Venezuelan politics. The U.S. has made it clear that any new political leader, who is currently interim President Delcy Rodriguez, must cooperate with Washington. The U.S. has also staked its claim to vast quantities of Venezuelan crude. However, oil is not the only resource that the U.S. has shown an interest in, as the Trump administration…

Britain has urged some of the world’s biggest powers to adopt clean energy at a faster pace to boost energy security during a time of geopolitical turmoil. The United Kingdom’s Chancellor of the Exchequer, Rachel Reeves, appealed to world leaders to accelerate the global green transition during the G7 Foreign Ministers’ meeting, held in France from 26th to 27th March. The Group of Seven (G7) wealthy nations includes the U.S., Britain, Canada, France, Germany, Italy, and Japan, along with the European ‌Union. Reeves attended…

Five weeks into the US-Israel air campaign against Iran, the world is tallying the economic wreckage: Brent crude at $114 a barrel, the Strait of Hormuz effectively closed to commercial traffic, and the International Energy Agency calling it the largest supply disruption in the history of the global oil market. Beijing is watching all of it. And not just the energy markets. Operation Epic Fury, launched Feb. 28, has given China’s military planners an unprecedented real-time window into how the United States wages high-end warfare, according…

The growing share of electric vehicles and the expected increase in EV sales this year amid soaring gasoline prices are reducing the revenues for the U.S. Highway Trust Fund, which pays for America’s roads. Most of the revenue for the fund comes from the 18.4% per gallon federal gas tax, which hasn’t been changed since 1993.   Yet, over the past 30 years, the funding for the trust fund has been declining, due to inflation and the fact that EVs now represent 2.5% of total light-duty vehicles in operation in America, and the market…