Latest News
-
Houthis vow revenge after accusing Saudi Arabia of attacking Sanaa Airport
The Houthi movement, which is aligned with Iran and controls the northern part of Yemen, accused Saudi Arabia Monday of airstrikes on Sanaa's international airport. They also vowed retaliation. Yahya Saree, the Houthi's military spokesperson, called the attacks a "blatant act of aggression". He said that they ended a long-running period of deescalation. He stated that Saudi Arabia would be held accountable for the attacks and they would not go unanswered. The Saudi government's communications office did not immediately respond to these accusations. On Monday, Yemen's internationally recognized government claimed that its armed forces had?targeted the runway at Sanaa International Airport in order to prevent an Iranian aircraft from landing. According to a spokesman from Yemen's army, the plane landed safely at Hodeidah Airport, which is controlled by the Houthis. Saudi Arabia and other Gulf States support the government that operates out of the southern port city of?Aden. Yemen has been battling civil wars and proxy attacks from foreign powers since more than a century, when the Houthis took over the capital city and forced the internationally recognized government to move to the south. A 2022 truce that was agreed upon after years of fighting between the Houthis and a Saudi-led alliance that caused one of the worst humanitarian crises in the world has held despite the regional escalation linked to the Israel/Gaza conflict, which saw the Houthis attack Red Sea shipping as well as the Iran Conflict. Yemen's civil war, which has lasted for more than 20 years, flared last year when a United Arab Emirates-backed movement that swept through the south splintered the Saudi-led alliance created to combat the Houthi group. Moammar bin Muthahar Al-Eryan is the Information Minister in the internationally recognized government. He said that the Houthis had detained an aircraft belonging to the International Committee of the Red Cross and were holding the pilot and copilot. On Monday, the defence minister of the government said that the government had exhausted all diplomatic efforts to convince Iran and the Houthis not to violate Yemeni airspace by Iranian aircraft. He stated that government forces will respond to any hostile aircraft invading Yemeni airspace by "all available means" and hold Iran accountable. Reporting by Tala Abouhassira and Eman Abohassira, Editing by Gareth Jones and Peter Graff and Sharon Singleton
-
Trump: The US should control and pay for the Strait of Hormuz
Donald Trump stated on Monday that it was likely the United States would take control of the Strait of Hormuz, and they should be compensated for the important waterway. We'll keep the strait and probably run it. We will become the guardian of?the strait. We could call it "the guardian angel" of the Strait. He said this in a Fox News "Fox & Friends'" phone interview. The Strait of Hormuz is a crucial route for oil supplies around the world and has been one of the major battlegrounds in the conflict. Iran's blockade has increased energy prices and raised concerns about inflation worldwide. "We will guard it." Trump said that we would be paid a large sum of money for protecting it. "We will be reimbursed because the other countries are wealthy." He said that they were on our side and we couldn't expect to pay for it. Tehran announced the?closure of the waterway on Saturday after what it called an "unauthorized transit". On Sunday, Tehran stated that the suspension of passage was still in place and permits would only be issued when there is "stability" and calm. "We had a deal. The deal was done, but then it was broken. They always break the deal. Trump said, "We've done 10 deals with them and we're going to hit them hard." Iran's Revolutionary Guards warned that continued interference could lead to more incidents in the oil and gas industry. U.S. forces and Iranian forces traded heavy drone and missile attacks over the weekend and Monday. Tehran claimed it had attacked?the United States. The Iranian military closed the Strait of Hormuz and other Gulf facilities, which drove up oil prices. The latest exchanges have marked a dramatic increase in the pace and geographical reach of attacks over the last week. This has cast doubt on the interim U.S. and Iranian agreement signed last month, which was to reopen and cease hostilities during a 60-day period of negotiations. (Reporting and editing by Michelle Nichols.)
-
Maersk Shipping Group resumes service in the Red Sea
Maersk, a Danish shipping company, announced 'on Monday that it will re-start sailing through the Red Sea to provide another of its services. This is part of the group’s gradual return of using the Suez Canal as a shortcut between Asia and Europe. In a press release, the company announced that it would resume its WAF6 service. This service is operated solely by Maersk and connects the Middle East, Mediterranean, and West Africa. Maersk stated that "this change marks another small step in the gradual return of trans-Suez traffic." After attacks by Yemen's Houthis in the Red Sea, most shipping companies abandoned the Asia to Europe trade corridor through the Suez Canal. This forced vessels to take the?much?longer route around Africa's Cape of Good Hope. Some carriers have recently started a 'gradual return' to the corridor. Maersk, for example, announced on Thursday that it will re-establish its Middle East-to U.S. East Coast route through the Suez Canal. (Reporting and editing by Terje Solsvik, Louise Rasmussen)
-
Chesapeake Utilities to build Florida gas pipeline worth $1.2 billion
Chesapeake Utilities announced on Monday that its subsidiary Peninsula Pipeline Company will 'develop, build and operate' a natural gas pipeline in Florida at a cost of about $1.2 billion. It said that the project would help increase natural gas transport capacity in order to alleviate regional supply shortages. Utilities are investing in new infrastructure for reliability and to support the?growing needs of residential, commercial, and power generation. Florida Energy?Pathway will be a 24-inch pipeline connecting Palm Beach?to Miami -Dade counties. It is supported by 250,000?dekatherms of?firm shipping agreements per day. Chesapeake Utilities said that the project is expected to be operational in 2030, subjected to final commissioning. It plans to partner up with one or two third parties, who could own as much as 49% of the project. The company stated that the project represents a long-term growth opportunity in a regulated environment and builds on its expanded presence in South Florida after it acquired Florida City Gas. Florida continues to be the leader in economic and population growth, driving an increase in energy demand. In the south Florida region, this has resulted in a'significant energy shortage' according to CEO Jeff Householder. (Reporting and editing by Katha Kaalia in Bengaluru, Leroy Leo, and Devika Syamanath).
-
Hormuz traffic drops to a two-month low after renewed US and Iran strikes raise safety risks
Shipping data revealed that the number of tankers traversing the Strait of Hormuz dropped to its lowest level in two months in the last day, after renewed strikes between Iran and the U.S.?and attacks against vessels raised safety concerns. Shipping industry sources say that vessels are increasingly turning off their public AIS?transponders. This makes it difficult to count the total number of ships on the waterway. According to Kpler's analysis, based on the data available, oil and gas tanker traffic has fallen to its lowest levels since May 25. In a recent report, ship broker Gibson stated that the world would be in a worse position if the renewed escalation of the strait led to another extended closure of Hormuz. The global inventory has been rapidly depleted over the past few months. This is a recipe that will lead to a much tighter market, higher prices, and heightened downside risks for tanker markets. According to LSEG's and MarineTraffic's?ship tracking data, the Sea Faith oil tanker had a destination of Sohar. In an advisory issued on Sunday, the Joint Maritime Information Center of the U.S. Navy (JMIC) reported that commercial traffic in the Strait of Hormuz had "continued to be reduced". The traffic patterns continue to reflect operator caution after recent attacks. Satellite imagery of July 11, reviewed by, shows that at least three pairs of tanks were involved in ship to ship transfers outside of Hormuz in the Gulf of Oman. Transfers from ship to ship (STS), as the name suggests, involve oil being transferred from one vessel into another. Since the conflict began in February, STS transfers have allowed faster oil deliveries to?waiting ships who do not have to travel through Hormuz. One shipping official stated on Monday that "some ships are slipping into and out". The source stated that "this has to be seen as a managed war now, similar to the Houthis at the Red Sea," referring to Yemeni militias who paralysed the traffic through the Bab al Mandeb Waterway for almost two years, before calling a truce in 2026. TRUMP AND IRAN DIFFER ON STRAIT STATUS Central Command reported that U.S. Forces completed another round of strikes on Iran Sunday, hitting multiple targets in different locations with precision munitions. Donald Trump, the U.S. president, said that the Strait of Hormuz was open for commercial traffic on Sunday. Iran had earlier declared that the strait was closed after an Iranian vessel struck a ship that was travelling on a route that wasn't approved. The?Revolutionary Guards of Iran said Monday that two ships were stopped in the Strait of Hormuz by their navy last night after shutting down?their?systems. The?Revolutionary Guards did not name the ships. JMIC reported that an unknown projectile caused damage to a container ship on Sunday. The fire was started in the engine room. TRAFFIC SLOWDOWN Kpler data showed that six vessels crossed the strait Sunday, the lowest number for five weeks. The data revealed that the Very Large Crude Carrier Humanity was loaded with 2,000,000 barrels Iranian oil and another tanker called Capetan Andreas carried about 500,000 barrels Kuwaiti oil. Three empty tankers were also seen entering the Gulf to load oil. The data showed that most of the tankers turned off their transponders as they crossed the strait. Ship-tracking data shows that no liquefied?gas tanks entered the Strait of Gibraltar over the weekend. Kpler data indicated that between July 10th and 12th, one tanker owned by Abu Dhabi National Oil Co left the strait. The vessel was headed for Dahej in India. Reporting by Jonathan Saul and Florence Tan; Editing and editing by Lincoln Feast, Ros Russell, and Siyi Liu
-
Lazard reports that solar costs have risen 18% but are still the lowest cost generation.
Solar power project costs in the United States have risen 18% since a year ago, as tariffs and high interest rates are taking hold. However, renewable energy sources remain the most cost-effective way to generate 'new' electricity, according to a report published on Monday by the financial advisory firm Lazard. The levelized cost energy of new combined-cycle gas plants, which is a measure for the average cost to generate electricity over the lifetime of a power station, has reached a 15-year-high. Lazard warns that costs may rise further due to equipment shortages and the booming demand for power. The record-breaking?demand for electricity in the United States, driven by the growth of data centers and the electrification sectors like transportation, has led to a need for new generating capacity, while increasing development costs. Lazard discovered that the levelized costs, or average cost to produce a unit of electricity over the life of a power station, for utility-scale solar increased from $38-$92 a year earlier. Samuel Scroggins said that levelized costs of solar and storage increased because of a variety of factors. Higher capital costs, higher interest rates, and inflationary pressures such as tariff pass through and repricing supply chains are all factors. Solar and onshore winds, which are relatively quick to deploy, will still account for the majority of new U.S. generation capacity in the near future. Solar and wind projects are still competitive even after calculating the cost of a backup system to guarantee?reliability'. This highlights?the important role that renewables will play in meeting increasing power demand. The levelized price of electricity generated by 'combined cycle natural gas plants', which use gas to power one turbine and steam to power a second, has risen to $51 to $129 per MWh. Utility companies and power developers were attracted to the generation source because of its constant output.
-
Maguire: Mid-year checkup of the US power system vital signs
If the U.S. energy sector underwent a mid-year checkup,?the verdict would be positive: vital signs are improving, clean energy is steadily growing, and certain long-standing illnesses?are becoming more severe. The transition is not yet complete, but trends remain in the right directions. As the system becomes cleaner, total electricity production continues to grow. According to the energy think-tank Ember, total electricity production?from January through July was 2,234 Terawatt Hours (TWh),?the highest for that half year period. This marks a nearly 3 percent increase from the previous year. According to the Energy Information Administration (EIA), a large part of this growth will be driven by AI-hungry, data centers, and electrification. The EIA expects U.S. electricity consumption to reach record highs in 2026-2027 for the third and fourth consecutive years. The rapid expansion of the electricity supply appears to be a sign of a healthy patient. Before assuming that a patient is in good health, it's important to examine the vital signs. VITAL SIGN 1: CLEAN POWER APPROACHING PRIMARY STATUS Clean electricity is now regularly producing more power than fossil-fuels. This is the clearest sign that progress has been made. According to Ember, from March through May, clean energy sources generated more than 50% of the electricity supplied by U.S. utilities, which is the longest stretch ever recorded. Clean sources provided 46.4% all of the electricity in June. This is when summer demand increases gas-fired power generation. This?compares to 42.4% in 2025 and 41.7% of June 2024. It indicates sustained clean-power development despite the aggressive push by the U.S. government to promote fossil fuels instead of renewables. Diagnose: Clean power is becoming the predominant source of energy during the key months of the calendar year. VITAL SIGN 2: SOLAR STRENGTH Solar power is the fastest growing part of our energy system. According to Ember, solar power generation in the first half of this year reached 231 TWh. Solar generation in June 2025 will be around 41.5 TWh. The first half of last year's output totaled 190 TWh - a growth rate year-on year of over 20%. Solar's share in the?U.S. The generation mix also reached new heights. Since March, solar has consistently represented more than 10% of all utility mixes. Diagnosis : Solar power has evolved into a major contributor to the U.S. energy system. VITAL SIGN 3: COAL CONTINUES TO SHRINK The oldest chronic disease in the sector continues to decline. Coal's contribution to generation has fallen from 32% at the beginning of 2016 to only 11.7% by April 2026. In April 2026, coal-fired electricity generation will total only 39.8 tWh compared to more than 113 tWh in January 2016 The high summer temperatures, coupled with the demand for air conditioners that consume a lot of power, have increased coal-fired production. However, its output year-to date is still around 11% lower than last year. Diagnosis : Coal is still a part of the mix for generation, but it's no longer an essential resource. VITAL SIGN 4: POLLUTION KEEPS FALLING The changing generation mix is affecting emissions. According to Ember, the total power-sector emission in June was just under 146 million tons of carbon dioxide or equivalent gases. This is down from almost 154 million tonnes in June 2025. The power sector emissions have fallen by about 5% compared to a year earlier despite an increase in the overall electricity output. Spring 2026 has delivered some of the best results in the dataset, with emissions totaling just 114 millions tons in March, and 109 millions tons in April. Diagnosis : Cleaner generation is resulting in real emission reductions and not just cleaner capacity additions. VITAL SIGN 5: NATURAL GAS REMAINS KEY Not all indicators point to a successful transition. During the first half 2026, natural gas will still generate 39% to 40% of U.S. electric power. In June 2026, gas-fired production reached 162 TWh, underscoring the role it continues to play in meeting demand and balancing out renewable output. Gas has been marketed as a "bridge" fuel for many years. It is still hard to replace in the top gas producing country of the world because it can increase output quickly when demand increases or renewable energy sources fall. Diagnosis : Although the patient is in better health, it still relies on gas for its primary source of dispatchable energy. CLOSING PROGNOSIS The mid-year review shows that the electricity system is undergoing a gradual transformation, rather than a radical revolution. Solar has surpassed coal as a heavyweight and emissions are continuing to fall. The U.S. grid is becoming less fossil fuel-powered and more clean-powered with each passing year. The opinions expressed are those of a columnist, the author. This column is a great read! Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
-
China's first five-year plan aims to boost consumption
China has set a target of retail sales of 60 trillion yuan (8.85 trillion dollars) by 2030 as part a five-year plan to increase consumption and raise household incomes. The plan, which was approved by the State Council on Monday and released, aims to increase service consumption in elderly care, childcare and healthcare, as well as?culture, sport, tourism and education. The report also calls for a stronger?tourism related spending, an increase in visa-free entries to more countries and?more international direct flights to Europe and the U.S., as well as countries participating in?Belt and Road Initiative. China's first 5-year plan aimed at boosting consumption aims to increase consumption rates and the role of consumption in driving economic growth. Beijing will promote a new generation of consumption models, including AI-powered consumption and green consumption. The plan highlights the need for households to increase their spending power through stronger employment, higher wages and more property income. According to the plan, China has pledged to remove any "unreasonable restrictions" on areas like car purchases, housing, and approvals for entertainment events. The plan stated that fiscal and financial policies should place greater emphasis on direct benefits to consumers, livelihood spending, and infrastructure related to consumption.
PostNL cuts 2024 profit projection again, citing 'unsustainable' business design
Dutch postal operator PostNL cut its 2024 operating earnings projection for the second time on Monday, with its top executive mentioning less seasonal mail than expected in December and an unsustainable organization model.
The Amsterdam-listed stock fell 3.2% in early trading.
Slow to broaden their parcel networks and at times in financial difficulty, traditional postal services in Europe are having a hard time to keep up with competitors from other parcel locker firms such as Poland's InPost and Amazon.
Immediate action to change the USO responsibilities (universal. service commitments) as well as a financial contribution from. federal government are inevitable to safeguard a future-proof and. financially practical postal service, PostNL CEO Herna Verhagen. said in a declaration.
One of the few European incumbent mail operators without any. state involvement, PostNL now approximates its normalised. profits before interest and taxes (EBIT) at around 53 million. euros ($ 54.64 million) for 2024.
The company, which delivers parcels and letters throughout. Belgium, the Netherlands and Luxembourg, had in November said it. anticipated normalised EBIT of around 80 million euros, at the. bottom of its previously given outlook range.
4Q24 results dissatisfied due to an acceleration of. existing trends, with the essential chauffeur for the outlook miss out on being. the higher-than-expected customer concentration at parcels in. 4Q24, KBC experts stated in a note to customers.
PostNL also forecast free capital of about 12 million. euros, up from the previously expected break-even, pointing out. well-executed money and balance sheet management.
(source: Reuters)