As of 8:45 a.m. Eastern Time today, oil sold for $115.01 per barrel (using Brent as the benchmark, which we’ll get into momentarily). That’s $3.81 higher than yesterday morning and approximately a $55 rise over the past year. Oil price…
China has ordered its companies to ignore U.S. sanctions, an unprecedented act of defiance that threatens to trap a vast banking sector in the crossfire as tension rises between the world’s largest economies. Beijing has often railed against unilateral sanctions…
Occidental Petroleum’s next chief executive began his career far from the Houston headquarters. On May 1, Occidental announced that COO Richard Jackson will succeed Vicki Hollub as CEO upon her retirement in June. Hollub, who became CEO in 2016, was…
Quick note: Subscribe to the forthcoming Fortune Gulf Brief. Every Tuesday, this new newsletter will deliver clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who…
Google inks a major contract to help the Pentagon use AI. Hundreds of employees sign an open letter opposing the deal. The company’s leadership initially digs in its heels. Several employees resign in protest. As the employee revolt builds, Google’s…
President Trump will meet Chairman Xi Jinping in Beijing on May 14–15. Xi Jinping has all the high cards, and he knows it. China made sure President Trump knows it, too. On May 2, China’s Ministry of Commerce (MOFCOM) issued Announcement No.…
Call it the FedEx of energy. Calgary-based Enbridge has grown into the largest oil and gas pipeline company in the world by market cap—$120 billion—delivering vital energy supplies across the globe. Just don’t simplify Enbridge to only putting pipe in…
Vladimir Putin is losing the Russian people as the economy and his war machine go in reverse amid withering Ukrainian attacks. On the economic front, Putin himself recently revealed that GDP contracted in the first two months of the year.…
The past two years have been nothing short of extraordinary when it comes to the surge in investor confidence in China’s AI sector. Startups like Moonshot AI and giants like Alibaba are now part of the global AI conversation; no…
José Luis Amate López hasn’t had a customer in almost two weeks, not counting the scrawny brown kitten that slinks around the bodega where he works in central Havana. The shelves once laden with goods during his childhood sat nearly empty…