aramco

Opposition is mounting against SpaceX's proposed IPO due to concerns over Elon Musk's significant control and the company's governance structure. Major pension funds and U.S. public investment officials have raised red flags, warning of weakened transparency and limited shareholder protections. The American Federation of Teachers has also urged the SEC to scrutinize SpaceX's framework before its public trading.

SpaceX is preparing for a historic IPO, aiming for a $1.75-$2 trillion valuation and seeking to raise $75 billion by June 2026. Despite significant revenue growth from Starlink, the company reported substantial losses in 2025 and Q1 2026, largely due to heavy investments in its new AI unit following the xAI acquisition.

Oil prices surged as President Trump rejected Iran's peace proposal, reigniting fears over global energy supply routes. Hopes for breakthrough talks faded, shifting market attention to Trump's upcoming visit to Beijing. Saudi aramco warned of significant oil market losses, while tankers navigated the Strait of Hormuz with tracking systems off.

Iran's armed forces are prepared to retaliate after President Trump rejected Tehran's ceasefire proposal, escalating regional tensions. The dispute over the Strait of Hormuz, a critical oil route, has already caused significant energy supply shocks and threatens global food security, with the UN warning of a potential humanitarian crisis.

Brace for summer travel chaos! A new government plan could allow airlines to cancel over 100,000 flights, sparking concerns among airports about rising costs and passenger disruption. While airlines assure normal services, the government cites potential fuel shortages as a precautionary measure. The world watches as a decision looms.

Lewis Hamilton’s Ferrari future is under growing scrutiny amid a difficult 2025 season, with no wins and ongoing struggles against Charles Leclerc. Former drivers and pundits have fuelled retirement talk, with some suggesting Silverstone could be a turning point. However, others insist the seven-time world champion will continue as long as he remains competitive and motivated.

Iran's chief negotiator insists Washington must accept Tehran's peace plan, warning of continued failure otherwise. President Trump, however, deemed Iran's response 'unacceptable,' escalating tensions. The ongoing conflict has triggered an energy shock, spiking oil prices and threatening global supply chains. Fighting also persists in Lebanon, with Hezbollah vowing to make the battlefield 'hell' for Israel.

Until now, the United States had largely focused its efforts on smaller Chinese companies and facilities in an attempt to curb Iran’s oil revenues, partly to avoid broader economic and diplomatic consequences.

Disgraced financier Jeffrey Epstein cultivated Middle Eastern connections and acquired rare Islamic artifacts, including pieces from the Kaaba, for a building on his private island he called a 'mosque.' Documents reveal his interest in Islamic architecture and his pursuit of Saudi Arabian business opportunities before his arrest and death.

A global promise to shift from fossil fuels faces significant hurdles. Economic ties to oil and powerful industry lobbying impede progress. Political will is also a key factor. Despite these challenges, renewable energy sources are expanding rapidly worldwide, offering a glimpse of future change.

Global crude oil markets are in a frenzy as a severe shortage drives intense competition for prompt deliveries. Physical oil prices have surged to unprecedented levels, with buyers vastly outnumbering sellers. This scramble, fueled by reduced Middle Eastern flows, is forcing refiners to consider scaling back operations, potentially worsening fuel shortages.

Saudi Arabia has significantly increased its crude oil prices for Asian buyers amidst escalating Middle East tensions. This move, as global energy flows face disruption, sees Arab Light crude set at a record premium. Meanwhile, threats and counter-threats between the US and Iran have pushed oil prices well above $100 per barrel, impacting fuel costs worldwide.

The Middle East's conflicts are analyzed through the lens of 'proxies and levers,' where state actors use non-state groups to project power and achieve strategic goals. This approach, while avoiding direct military costs, often results in prolonged violence, instability, and humanitarian crises, complicating peace efforts in the region.

The Middle East conflict's sixth week sees global energy markets reeling. Soaring crude prices offer windfalls to some Gulf producers like Iran and Saudi Arabia, despite export drops. Others, heavily reliant on the Strait, face severe revenue plunges. The disruption, following airstrikes on Iran, has led to significant oil supply shocks worldwide.

Saudi aramco warns that ongoing conflict in the Strait of Hormuz could lead to catastrophic consequences for global oil markets, citing already low inventories and potential impacts on various industries. The company confirmed a small fire at its Ras Tanura Refinery following an attack, which has since been brought under control.

As the Middle East conflict disrupts global energy supplies, Saudi Arabia has activated its 1,200-kilometer East-West pipeline to maintain oil exports. This crucial inland route, rerouting crude to the Red Sea port of Yanbu, is now a pivotal alternative to the closed Strait of Hormuz, ensuring continued market access despite escalating tensions and past attacks.

Energy giant Saudi aramco said it has struck a $12.4 billion deal to sell a minority stake in a newly formed oil pipeline business to a consortium led by US-based EIG Global Energy Partners.

SpaceX, the world's most valuable private company, has reportedly filed confidentially for an initial public offering. This move brings Elon Musk's rocket and AI firm closer to a potential listing. The company is expected to seek a valuation exceeding $1.75 trillion. This could be the largest IPO in history, with a June listing anticipated.