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IEA Delivers No SPR Action After Extraordinary Meeting As Crude Jawboning Mania Enters Day Two
IEA Delivers No SPR Action After Extraordinary Meeting As Crude Jawboning Mania Enters Day Two
Update (1514ET):
For a second straight day, G-7 leaders attempted to push crude prices lower with headlines about an "emergency meeting" to discuss a possible Strategic Petroleum Reserve (SPR) release aimed at containing Brent and WTI crude prices. However, by late afternoon in New York, the Financial Times reported that the International Energy Agency (IEA) had concluded the meeting without reaching a decision on a coordinated release of crude stockpiles.
Today's slide in Brent and WTI was...
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Feb 20, 2026 / Tyler Durden
Nvidia Favors $30 Billion OpenAI Investment, Retreating From Prior $100 Billion Commitment
Nvidia Favors $30 Billion OpenAI Investment, Retreating From Prior $100 Billion Commitment
Update (Friday):
Bloomberg reported earlier this week that OpenAI is nearing completion of a new funding round that could raise more than $100 billion. Separately, the Financial Times reported on Thursday that Nvidia is close to finalizing an investment of about $30 billion in OpenAI, a significantly smaller amount than the $100 billion commitment agreed upon last year.
FT cited people familiar with the funding round who said the "final stages" have begun and that Nvidia's $30 billion equity...
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Apr 14, 2026 / Tyler Durden
Et Tu, Indonesia!
Et Tu, Indonesia!
As the squeeze continues on China's energy supply (and Xi has started to lash out here and here), we suspect the next words out of the Chinese leader's mouth (if he spoke Latin) will be "...et tu, Indonesia!"
As Stephen Green writes at PJMedia, it might have seemed like one of those dry, bureaucratic, almost meaningless announcements on Monday, when War Secretary Pete Hegseth posted on X that the U.S. and Indonesia "are elevating our relationship to a Major Defense Cooperation Partnership."
This arrangement “will explore mutually agreed cutting-edge...
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Apr 22, 2026 / Tyler Durden
Iran Fires On Third Ship In Hormuz Chokepoint, Says US Navy Blockade 'No Different Than Bombing'
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