Commercial oil inventories are nearing depletion, with strategic reserves adding 2.5 million bpd but failing to bridge a growing supply gap. Global commercial oil inventories are declining at a record rate, with only weeks of supply remaining, according to the Internationa
- China’s growth slowed across the board in April with investment resuming declines, calling into question the government’s reluctance to add stimulus to the economy as a global energy crisis hits factories and consumers across the world. Most Read from Bloomberg Official
US consumers have launched a proposed class action against Amazon in federal court in Seattle, claiming the retailer unlawfully passed on tariff costs totalling hundreds of millions of dollars. The complaint was filed by two consumers from Maryland and Massachusetts and co
The bank targets wind, solar, EVs, and AI sectors amid global energy supply disruptions and transition demand. HSBC established a $4 billion investment vehicle to finance China’s energy transition technologies, including wind, solar, electric vehicles, and AI-driven data c
Iran and the US exchange proposals on sanctions relief and maritime security, with indirect negotiations ongoing through Pakistani mediation. Iran and the US have traded formal comments on Tehran’s recent proposal, which includes demands for sanctions relief and the releas
Rising energy costs from the U.S.-Israel-Iran conflict force companies to cut production and dividends, analysts say. Global businesses have incurred $25 billion in losses due to the oil and gas crisis triggered by the U.S.-Israel-Iran conflict. The disruption has led to s
China buys $17 billion in US agricultural products annually The White House has released a fact sheet detailing historic deals with China. The agreements include the purchase of 200 American-made Boeing aircraft by China. China will also purchase $17 billio
April data shows sharp slowdown in China’s retail sales and industrial output, undershooting forecasts amid weak demand and geopolitical pressures. China’s retail sales growth slowed to 0.2% year-on-year in April, the weakest pace since December 2022, as industrial output
Beijing commits to buying $17 billion in U.S. agricultural goods annually, including soybeans, while addressing rare earth supply concerns. China has agreed to purchase at least $17 billion of U.S. agricultural products annually through 2028, the White House announced. The
Analysts warn refined product reserves are depleting rapidly, risking a sharp price surge amid prolonged Iran-related disruptions. Global oil inventories are approaching exhaustion as the Iran conflict disrupts supply chains, with refined product stocks—including diesel, p
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