ENERGY

Overnight gains on the heels of across the board inventory draws reported by API (and some optimism on easing China tensions) have been dashed this morning after comments from the new Kazakh energy minister (pushing back against production cuts for his always over-producing nation). This was then amplified with headlines that other OPEC nations were pushing for accelerated output increases.

But for now, all eyes are on the official data…

API

• Crude: -4.57mm (more…)

Oil turned lower after Kazakhstan said it will prioritize national interests over those of the OPEC+ alliance, a move that risks fueling further tensions within the cartel.

Overnight saw prices rally after bigger than expected inventory drawdowns reported by API in the US, but that was all erased this morning as Kazakhstan’s newly appointed energy minister Erlan Akkenzhenov said the country is not able to reduce production at its three largest projects as they are controlled by (more…)

Authored by Harry Krejsa and Markt Montgomery via RealClearWire,

Even in its most conservative projections, AI-driven booms in electricity use are poised to provide a once-in-a-generation opportunity—and imperative—to secure our grid against PRC cyber attacks.

OpenAI just closed the largest funding deal ever by a private technology company, with nearly half of the $40 billion raised earmarked specifically for its massive Starate data center project in Texas. This and (more…)