Police in New York, Washington and Los Angeles increased patrols at religious institutions, diplomatic facilities and public spaces. Officials cited no immediate credible threats but highlighted the need for vigilance. The Department of Homeland Security said the Israel-Iran war has placed the US in a “heightened threat environment” through Sept. 22.
A European official attending the G7 finance powwow in Banff, Canada, told Reuters that the U.S. Treasury team thinks market forces are already doing the heavy lifting. With Brent prices wobbling around $64—and Russia’s Urals blend clocking in at a $10 discount—Washington’s logic is that there’s no need to poke the bear when the bear’s already limping.
During the dealmaking round, Aramco finalized an agreement to buy 1.2 million metric tons per annum (MMtpa) of LNG for 20 years from the fourth train of the under-construction Rio Grande LNG project in Brownsville, Texas. Owner NextDecade Corp. is seeking purchase commitments to be able to make an FID (final investment decision) on trains 4 and 5. NextDecade has so far approved three trains, which comprise phase 1 – out of eight planned for the project.
The European Union is preparing to impose up to €100 billion ($113 billion) in tariffs on US goods if trade talks fail, according to a new report by Bloomberg this morning.
The draft list of retaliatory measures will be circulated to member states as early as Wednesday, with a one-month consultation period before finalization.
The Energy Secretary told the Three Seas Business Forum – which numerous leaders from the region attended Monday – that western Europe chose the wrong path of expensive “top-down imposition of enforced climate policies.” He argued that renewables investments weigh on growth and boost revenues of foreign companies, and that eastern Europe should pick a different path.
WTI is trading up on the day, but still slightly below what the Dallas Fed Survey says is the breakeven for Permian players, with drilling activity in the basin holding fast at 289—a figure that is 29 fewer than this same time last year. The count in the Eagle Ford also stayed the same this week, at 47. Rigs in the Eagle Ford are 8 below where they were this time last year.
West Texas Intermediate futures added 1.9% to settle near $62.50 a barrel, the third gain in the four past sessions, after China signaled openness to trade negotiations with the Trump administration. Pre-conditions for the talks would include a more consistent US position and a willingness to address China’s concerns around American sanctions and Taiwan, according to a person familiar with the Chinese government’s thinking.
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 roughly $1 per barrel increase over this same time last week. The WTI benchmark, meanwhile, was trading up 0.18% at $71.33—a roughly $1.60 per barrel rise over last week’s levels.
The newly constituted Board of Directors of the US Export-Import Bank has approved the direct loan of up to USD 4.7 billion to support engineering, procurement and construction for the Mozambique LNG project in Mozambique’s Cabo Delgado province, the bank announced on Wednesday.
the operator of the project, had indicated earlier this year it expected the loan would be green-lighted, and it is also expecting the resolution of a commitment of up to USD 1 billion from the UK.
State-owned CPC Corp. and the economy ministry are in negotiations with an Alaska-based export plant for supplies, Taipei-based Central News Agency said, citing an unidentified ministry official. CPC and the ministry didn’t immediately respond to requests for comment.