Energy
Petrobras Discovers Oil Off Amazon Coast
Petrobras announced an oil discovery in the Morpho well off Brazil's Amazon coast in Amapá state. President Lula called it a 'passport for the future' while emphasizing Brazil's commitment to renewable energy transition.
Lake Powell Reaches Historic Low Amid Water Crisis
Lake Powell, the nation's second-largest reservoir, hit record-low levels, threatening water and electricity supplies to millions. Both Lake Powell and Lake Mead have fallen to their lowest levels since 1957.
Global Oil Demand Decline Restrains Price Growth
Oil prices remain subdued not due to supply issues but declining global demand for petroleum products. Structural shifts in energy consumption patterns are the more troubling underlying cause.
Oil Rises as New York Futures Open Cautiously
Energy markets showed mixed signals as New York futures opened relatively stable with oil prices nudging higher amid geopolitical tensions. The modest gains reflect investor caution about upcoming economic data.