Oil Prices Extend Decline After The Largest Crude Inventory Drawdown In History, Cushing 'Tank Bottoms' Loom

UK Intercepts 'Russian Shadow' Fleet Vessel in Unprecedented English Channel Commando Boarding British Royal Marine Commandos conducted a high-stakes midnight raid in the English Channel on Sunday, boarding and seizing a sanctioned Russian "shadow fleet" oil tanker. The elite UK forces conducted a fast-roping raid onto the massive crude carrier in the dead of night and into the morning daylight hours. While there's nothing new in terms of an 'illicit' Russian tanker seizure in European waters, it is rare or even unprecedented that such an action occurred in the English Channel,...

Target Hospitality Jumps As Data Center Boom Fuels Demand For Worker Camps Target Hospitality shares jumped in premarket trading after the company announced a new contract to provide mobile housing solutions and related hospitality services for workers at data center construction projects. The 48-month contract could generate upward of $750 million in revenue for Target Hospitality, which builds, owns, leases, and operates large temporary or semi-permanent "communities" for workers of major projects. The contract covers 3,370 beds. Historically, Target Hospitality generated revenue from energy, natural resources, and government-related customers, but since the...

Black oil-filled raindrops fell on parts of Moscow on Thursday after a major Ukrainian drone attack targeted the city and hit an oil refinery as the Russia-Ukraine war continues to escalate. Thick black smoke could be seen in the skies of Moscow following the attack, and at least 17 people were wounded by the drones, […]