Energy
Every Sainteur story on energy, newest first.
Oil is headed for a second weekly decline as the U.S. focuses on its Iran blockade, Reuters says
President Donald Trump said a deal with Iran was not necessary to end the war. Iran's military said four oil tankers were hit in the Strait of Hormuz; Reuters could not immediately verify the accounts.
Brent crude slips below $90 a barrel after Trump plays down further Iran strikes
He said the conflict could be ending fairly soon, while adding that the United States was still locked and loaded. Flows through the Strait of Hormuz have largely recovered, though an energy consultant said he still sees no prospect of a peace deal.
NRG agrees to a $4 billion plant deal with LS Power and lifts its buyback plan
NRG Energy ($NRG) agreed to transfer 4.9 GW of gas plants to LS Power for $4 billion in cash, with expected proceeds to support $3 billion of share repurchases across 2026 and 2027 plus an additional $2 billion of debt reduction at close. Third-quarter GAAP EPS was $2.59, and NRG reaffirmed 2026 guidance.
OpenAI wants regulators to make large power users cover the grid costs they create
The new compact's commitments cover only future campuses OpenAI owns and operates, and the company also wants Congress to speed up transmission upgrades and clean-power incentives.
Brookfield plans an AI data center at the UK's Drax power station that could top £20 billion
Drax, which runs a power station in North Yorkshire, would host the project with Brookfield and its Radiant platform, though approvals, a tenant and final investment decisions are still pending.
US stocks end mixed as AI worries fade a rally and oil drops on Iran talk hopes
US stocks ended mixed Monday as a morning rally faded on growing worries about AI spending, AP reported. Oil had its sharpest drop in three months on hopes for US-Iran talks, per NBC News, and most S&P 500 stocks still rose.
Wall Street watches governor races that will help set rules for $2.5 trillion of AI infrastructure
Investors are tracking governor races, and voters will decide dozens of local measures that could delay or block data centers before they break ground.
GE Vernova's orders nearly double as it raises its 2026 outlook
Orders rose 96% to $29.3 billion and the backlog reached $197 billion as the power-equipment maker beat estimates and lifted its forecasts for the year.
GE Vernova agrees to buy grid equipment maker Trench Group for $9 billion
GE Vernova is buying the high-voltage grid equipment supplier from Triton Partners, expecting to fund it equally with cash and debt, with closing expected in late 2027.
US military tells ships with no need to be near Hormuz to stay well clear
A US Navy notice shared by maritime authorities on Oct. 28 says neutral ships may be questioned and searched under the blockade of Iran and should plan extra time, while traffic is already far below normal.
Fire near Saudi Arabia's Ras Tanura oil hub is reportedly contained after an attack in the region
A blaze near Ras Tanura was contained hours after it broke out, Türkiye Today reported. Bloomberg said how much damage it did is still unclear.
Oil wavers as Saudi Arabia's defense minister holds de-escalation talks in Tehran
Saudi Arabia's defense minister met Iran's president in Tehran after Qatari mediators visited on Sunday. Oil fell in the morning and was mixed by midday as Houthi attacks on Saudi Arabia continued.
EQT is buying Range Resources in an all-stock deal Reuters values at $12.8 billion
Range holders get 0.987 EQT shares for each Range share. The "over $50 billion" figure is the combined company's enterprise value, debt included, not the price.
Alaska gas startup Polar LNG loses its top executives over alleged secret Russian funding
Former CEO Joel Riddle and other executives say sanctioned Novatek was quietly bankrolling the North Slope project. Polar LNG says Riddle was fired for cause and that it complies with U.S. law.
Gold didn't break as a haven. It got sold for cash as hike bets rose
Gold fell below $4,000 as markets priced a 78% chance of a December hike and margin calls hit. In my view that's gold working as cash, and the real story is the Fed's bind.
Gold falls below $4,000 for the first time since July as oil fuels Fed hike bets
Rising oil prices lifted Fed rate-hike bets and a tech sell-off pushed investors to sell gold to cover losses, leaving the traditional haven on track for its worst week since June.
Western Digital and Bloom Energy beat estimates, Deckers cut its sales outlook, and all four stocks fell
All four reported after Thursday's close. Deckers raised its EPS outlook while cutting its sales forecast, and Newmont's sales rose even as it sold less gold.
Oil hits a five-month high as Houthi strikes on Saudi Arabia pile onto supply fears
A drone strike near Aramco's Shaybah field and an attack on Dammam's airport sent traders back to the risk premium, even as Saudi Arabia's Energy Ministry said operations at Shaybah were unaffected.
Oil edges higher as Iran claims Hormuz mine strikes no one has verified
Iran's Revolutionary Guards say their mines hit tankers near the Strait of Hormuz. Nobody has independently confirmed it, but documented attacks on shipping and threats to Saudi oil sites have traders wary of supply risk.
Trump tells data center companies to 'MAKE DEALS' with local communities
The president urged data center companies to strike deals with host communities. The sources tie it to no order or rule, and it lands as local opposition grows and data center stocks are under pressure.