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Yemen's Houthis claim that chief of staff Muhammad al-Ghamari has been killed
Yemen's Houthis claimed on Thursday that Muhammad Abd Al-Karim al-Ghamari was killed while "performing his duties". He was one of the highest ranking military officials in the Iran-backed group. Houthis did not directly blame Israel for the killing of his son, but they said that Israel's conflict was still ongoing. Israel will "receive deterrent punishment" for crimes committed. Israel's airstrikes in August on Sanaa, Yemen, killed the Prime Minister of the Houthi-run Yemeni government, as well as several other ministers. The chief of the Houthi's staff, the defence minister, and other senior figures were targeted. Israel said that it was still verifying that the strike had indeed targeted al-Ghamari and other senior officials, including the defence minister. Ghamari is a member the Houthis "Jihad Office" led by Abdul Malik al-Houthi. This office is responsible for overseeing all military operations. Israel Katz, the Israeli Minister of Defence, said that Ghamari had been attacked by an Israeli strike. He added, "We will continue to do so against future threats." Most of the missiles fired by the Houthis towards Israel were intercepted. They claimed that they had been doing so in solidarity with Palestinians in Gaza. Israel responded by striking Houthi controlled areas in Yemen. Last week, Abdul Malik al-Houthi said that the Houthis will monitor Israel’s compliance with Gaza ceasefire agreement and will resume their support for Gaza in the event Israel does not comply. Ahmed Elimam in Dubai; Elwely Elwely in Aden, Mohammed al Ghobari, Steven Scheer, Jerusalem. Ahmed Elimam in Jerusalem.
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Laos will stop crypto mining by 2026
Laos may stop supplying electricity to cryptocurrency miners in the first quarter 2026 as the country aims to redirect power domestically to industries that are more conducive to economic growth. After a policy change in 2021 that led to a rapid increase in mining, crypto operators were attracted by the cheap, non-fossil fuel. Chanthaboun Sukaloun, the deputy minister of energy, said that the government is now looking to give priority to sectors like AI data centres and metals refineries, as well as electric vehicles. Soukaloun stated that Laos had already started to reduce the supply of electricity for crypto miners. They currently consume 150 megawatts, down 70% compared to a peak consumption of 500 MW between 2021 and 2022. BETTER VALUE CAN BE FOUND ELSEWHERE Crypto doesn't add value when compared with supplying it to commercial or industrial consumers. In 2021, we proposed to the government to supply crypto mining because of the oversupply in electricity within the country," Soukaloun said. He added that the industry does not create many jobs and has no supply chain that is beneficial to the economy. Soukaloun stated that Laos initially planned to stop supply this year but continued to do so due to the abundant rainfall which boosted hydropower production and allowed increased exports to Thailand and Vietnam. He said that he thought the supply of crypto could be completely stopped by the end the first quarter in 2026. It was impossible to identify associations that represent the crypto mining industry or which miners are operating there. Laos is often called the "battery" of Southeast Asia for its hydropower-export potential. It plays a crucial role in the clean energy transition within the region. Hydropower exports play a crucial role in decarbonising neighboring countries who face difficulties scaling up solar and winds. Soukaloun stated that Laos is looking to increase its bilateral exports to Vietnam. The current capacity of 8,000 MW may be increased. CHINA ARBITRATION - Exports to Singapore Soukaloun stated that Laos and China have held bilateral discussions about a dispute filed by an entity of the state-owned Power Construction Corp of China, seeking $555,000,000 in unpaid dues for its 2,73 billion dollar hydropower project. It's their right under the power-purchase agreement to sue. "We have to continue until the process has been completed, or the claimant withdraws their claim," Soukaloun stated. He refused to comment, citing confidentiality. However, he said that the unpaid dues were the result of a mismatch in demand between the projected and the actual. Laos also expects exports to Singapore through the Lao-Thailand-Malaysia-Singapore (LTMS) power transmission corridor to "resume soon," Soukaloun said, without providing further details. Last year, Thai and Singapore officials said that exports had been stopped because Thailand has not yet finalised the terms of an agreement extension. The four countries released a joint statement on Thursday reaffirming that they would continue to advance multilateral cross border power trade, and continue discussions. However, they did not specify a date for the return of exports. (Reporting and editing by Louise Heavens, Ashley Tang and Sudarshan Varadhan)
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LSEG data show that Turkey's Russian oil imports remained constant in October compared to September
According to LSEG data and market sources, Turkey will continue to import Russian Urals crude oil at around 288,000 barrels per day in October, unchanged from September. Two sources in Russian oil trading said that October's exports to Turkey could even exceed September's volume, as more cargoes will be confirmed in the latter part of the month. This reflects Turkey's continuing demand for Russian barrels. Donald Trump, the U.S. president, has increased pressure on India and Turkey as well as major Russian oil purchasers to reduce funding for Russia's conflict in Ukraine. He is also pushing for a ceasefire agreement. LSEG data indicates that Turkey is now the second largest buyer of Urals, Russia’s main export grade after India, among seaborne buyers. Ankara did not join the Western sanctions against Moscow. LSEG data and traders confirm that SOCAR Turkey and Tupras, Turkey’s largest refiner and a subsidiary SOCAR Azerbaijan, are the two biggest buyers of Russian crude oil in Turkey. Tupras has several refineries in Turkey, including those located in Izmir and Batman. The STAR refinery processes medium and heavy sour grade primarily on Urals. Lukoil, a Russian company, supplies this grade to STAR as part of a long-term agreement. Turkish refiners continue to buy Urals because of its competitive price compared to other grades available on the Mediterranean market. Tupras Turkey and SOCAR don't commentate on their oil purchase. Despite Western efforts at capping Russian oil prices, restricting shipping, and limiting insurance services, Urals crude is still flowing to countries that are not sanctioned, usually via alternative payment and logistics arrangements. The constant flow of Russian crude oil into Turkey illustrates the difficulties faced by Western countries in curbing Moscow’s energy revenues on a global oil market that is complex. (Reporting and Editing by Elaine Hardcastle).
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AEP receives a $1.6 billion loan guarantee from the US Federal Government to upgrade power lines
The U.S. Department of Energy has granted a $1.6 Billion loan guarantee to American Electric Power for the upgrade of nearly 5,000 miles of transmission line across five states. This comes as the demand from data centers, which are power hungry, is surging. AEP Transmission is upgrading power lines in Indiana and Michigan as well as Ohio, Oklahoma, and West Virginia. This will primarily support data centers, artificial intelligent, and manufacturing. According to the U.S. Energy Information Administration, power consumption will reach record levels in 2025 and in 2026 due to a surge of demand for data centers that run artificial intelligence technology. ENERGY DEMAND GROWTH NOW AT LEVELS UNSEEN FOR A GENERATION Bill Fehrman, CEO of AEP, said: "AEP has experienced a growth in energy consumption that we haven't seen for a long time. The funds we save with this program will allow us to invest in other areas." The utility stated that customers have committed to expanding their businesses, which will require 24 additional gigawatts by the end the decade. The first loan guarantees will cover nearly 100 miles of transmission line in Ohio and Oklahoma. AEP received a conditional loan through the administration of former president Joe Biden. Customers in states where President Donald Trump won the election last year will benefit from this loan. But even though Trump declared an "energy crisis" on the first day of his second tenure, his administration has not approved all grid loans. After farmers protested, the DOE cancelled a loan guarantee of $4.9 billion for the Grain Belt Express Transmission Project initiated by Biden. The project was intended to transmit power generated by wind and solar panels in Kansas to cities in the Midwest and East. AEP announced this year that it would consider adding $10 billion to the $54 billion five-year plan in order to meet increased demand. The utility has about 5.6 millions customers spread across 11 states and is the largest electric transmission network in the United States. (Reporting from Pooja in Bengaluru, and Timothy Gardner in Washington. Sahal Muhammed, Mark Potter and Sahal Muhammad edited the report.
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Vietnam's VPBank Securities anticipates strong demand for their IPO
The chief executive of VPBank Securities (a brokerage owned and operated by Vietnam Prosperity Bank) said that the company expects to have its initial public offer oversubscribed. He cited strong interest among institutional investors. In what will be the largest IPO in Vietnam this year, the firm aims to raise 12.7 trillion dongs ($481million). Vu Huu Dien CEO of VPBank Securities said on the sidelines the IPO Roadshow that institutional investors had subscribed for shares worth approximately 6 trillion dong (227.82 millions). Dien mentioned Dragon Capital, an important Vietnamese asset manager, as well as domestic brokerage VIX Securities, among notable participants. He added that more than fifty international investors had expressed interest. Dien said that a listing on the Ho Chi Minh City Stock Exchange is planned for December. Dien said that a listing at the Ho Chi Minh City Stock Exchange was planned for December. Vietnam's IPO market The economy has gained momentum due to a stock rally, regulatory reforms, an increase in credit activity and FTSE Russell's upgrade of the country to emerging market status, despite continued net selling by foreigners. Techcom Securities' IPO raised $410m last month. The company was valued at $4billion. VPS, Vietnam’s largest brokerage based on market share, has also announced plans to launch an IPO.
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Maguire: Seven potentially magnificent US clean-energy stocks
After years of beatings, some U.S. listed clean energy stocks have been on a tear. They are outperforming the majority of established energy giants in spite U.S. president Donald Trump's policy shift away from clean energies since taking office. The AI boom is driving many of the gains, and the need for more electricity to power the data centers has boosted the stock prices of companies that are involved in boosting energy supply. Other firms are also benefiting from the worsening tensions in trade between the United States of America and China. These include companies that produce critical materials and components for the energy technology and defense industries. It's difficult to determine which stocks will be long-term winners. Some companies are generating profits through their ongoing operations, but others are soaring on the hopes of product or process innovations that could be decades away. Seven stocks have shown impressive gains in 2025 and could become mainstream market darlings. NUCLEAR PROMISE Two firms with ties to the U.S. Nuclear Power Sector stand out: Centrus Energy Corp. and Oklo Inc. The stock price of Centrus Energy has risen by more than 550% in 2025. This is largely due to the Trump administration's encouragement of rapid development of nuclear power plants. Centrus is the first U.S.-based company to be licensed for production of High-Assay Low Enriched Uranium, which is an essential fuel for the new generation of nuclear reactors. Oklo shares have risen more than 700% in the past year. The company is also benefiting from a positive outlook for the small reactors it markets to data centers, as a reliable and clean source of power. While Centrus and Oklo may be riding high at the moment on the optimism surrounding nuclear power in America, they both face the challenge of converting potential sales into bankable revenue. Businesses that require more power quickly are still frustrated by the long development times of new nuclear reactors. Deployment delays could also work against nuclear developers. The order books of Centrus' and Oklo’s reactors may shrink quickly if utilities and developers of data centers find faster ways to meet their power requirements. RARE RESOURCES The stock prices of U.S. Antimony Corp. and American Resources Corp., both based in the United States, have reached multi-year highs by 2025. UAMY produces antimony, which is used in batteries and other heat-resistant devices. AREC refines rare earths into high-purity materials. UAMY shares have risen around 690% in the past year, while AREC shares have risen around 390%. Both companies are receiving support from the U.S. Government as suppliers of vital resources and will therefore benefit from the growing demand of customers who need to find non Chinese vendors of these materials. Due to China's dominance of the production and supply chain for these materials, UAMY and AREC could struggle to expand their businesses in markets outside the U.S. where their Chinese competitors compete directly. Charge Ahead Some of the other notable clean energy stocks in the United States this year are Bloom Energy (which makes fuel cells for direct electricity generation at business sites) and Solid Power Inc., which manufactures batteries and energy storage systems for electric vehicles. Bloom Energy shares have risen over 400% in the past year, thanks to a contract with Brookfield Asset Management that made it their preferred power supplier at its AI factories. Solid Power shares have risen around 275% and with the positive outlook for grid-scale battery sales, it appears primed for further growth in the near to mid term. Both firms are facing stiff competition from competitors offering similar capabilities. They will also be affected by any possible slowdown in construction of AI data centers and energy storage systems. SolarEdge Technologies has also seen a notable increase in stock prices in 2025. The company makes inverters which optimize power flow through solar panels. SolarEdge's shares have risen by about 200% in the past year. SolarEdge, a company based in Israel, is not an American firm. It has expanded rapidly its U.S. production base, and will therefore benefit from the strong demand for local-made components when the U.S. grid continues to add solar systems. The seven stocks above, although they all have distinct roles in the U.S. Clean Energy space, all have benefited so far from the growing tide of investor attention in this sector in 2025. Each firm has its own competitive advantages, which can help them to appeal to a wider range of investors. They could also compete for portfolio shares with tech giants like chipmakers and other companies in the future. These are the opinions of the columnist, an author for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and information. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Where are the barrels of oil? IEA gap deepens confusion over looming glut: Bousso
The International Energy Agency (IEA) continues to predict a significant oil supply glut, but the uncertainty surrounding the location of nearly 1.5 million barrels of crude oil per day is putting this forecast into question. Since months, the oil market has been unable to find a direction. Prices have remained in a tight range as traders tried to understand starkly divergent projections of supply and demand from IEA and OPEC. The IEA has predicted a severe glut of oil this year and in the next year due to increased global production. The Paris-based agency's latest report, released on Tuesday provided an even more pessimistic outlook. It forecast a surplus in 2025 of 2,35 million barrels a day and 4 million bpd, or nearly 4%, of global demand, next year. OPEC on the other side expects that global oil supply will closely follow demand until 2026. This difference is remarkable, as it has never been seen before in the history of the largest commodity market in the world. Missing Barrels On Tuesday, the murky picture of crude oil became even more muddy when the IEA reported that it had been unable to account 1,47 million bpd in its global balances. This is the equivalent of 1,4% of the annual demand. The IEA's "unaccounted balance" for July was 850,000 bpd or 370,000 bpd overall for the second-quarter. This 1,47 million bpd number is a huge blind spot that has significant implications for global supply and demand. According to the IEA, supply exceeded demand by 2,04 million bpd during August. This means that, theoretically, oversupply can grow to 3.5 millions bpd, or even shrink to 500,000 bpd. This is a big difference which could have an impact on crude oil prices. The IEA calculates the global oil balance using data from official government sources as well as private companies and analysts who provide figures on production, consumption and exports. Due to the size of the oil market, it is not uncommon for forecasters' calculations to be "holes". This can be due to the delays in reporting by government agencies and the absence of certain data sets. In fact, the IEA updates its historical data regularly. In its May monthly report, the agency revised upwards significant amounts of recent oil demand. This included increasing 2024 oil usage by 350,000 barrels per day, turning a reported surplus into a deficiency. The sheer magnitude of missing barrels reported by the IEA in its August report should cause traders and investors to pause. This is especially true because it comes at a moment when the market has already been trying to make sense out of forecasters' wildly different projections. Barrels that disappear The IEA stated that the discrepancy in August "may be due to the delay of reporting data or the lack of data for non-OECD nations." It will take some time to fully account for the missing barrels. It is reasonable to believe that the missing barrels are due in part to two factors which have confounded the crude market for the past year: the trading and stockpiling of China. The first question is how much oil sanctioned is being traded. According to Kpler, the volume of crude oil transported by sea last week reached 1.25 billion barrels. This is the highest level since the Covid-19 Pandemic began. Oil held at sea, or "oil in water", has never been greater. This buildup on the seas could be a precursor for a dramatic increase in storage overland - and a significant global surplus. The picture is further complicated by the fact over a quarter (25%) of the oil in the water comes from countries that are under western sanctions, namely Russia, Iran and Venezuela. The majority of oil produced by these countries is transported in so-called "shadow" fleet tankers, which evade western sanctions and often hide their location by turning off satellite transponders. The IEA may have missed some barrels because it is difficult to track the movements of oil by sea. CRUDE HARDING There is also the issue of China's huge oil storage volumes. According to the IEA's forecast, global observed inventories – oil in storage and on vessels – grew by 225,000,000 barrels from January to August, reaching the highest level for four years. China, as the world's biggest oil importer, is clearly responsible for a large portion of the increase in inventories. Beijing, however, does not publicly disclose the size of its oil storage capacities or changes to inventories. In the absence government data, traders use secondary sources to estimate China's rapidly growing storage network. According to the IEA, Chinese crude stockpiles rose by 110,000,000 barrels between April 2025 and August 2025. This estimate is based on data provided by satellite analytics firm Kayrros. It is possible, given the lack firm data, that China's crude stock has increased by much more, and this could account for another part the IEA missing barrels. The IEA's mysterious missing barrels may indicate that the task of calculating production, consumption and exports in the vast global oil market will become even more difficult as geopolitics continue to obscure large portions of the market. Subscribe to my Power Up newsletter to receive my weekly column, plus additional energy insights and links trending stories in your mailbox every Monday and Thursday. Subscribe to my Power Up Newsletter here. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. ROI provides data-driven, thought-provoking analysis. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, X.
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Analysts say that oil deliveries are disrupted due to congestion in Antwerp's port after the pilots' strike.
Analysts say that congestion in the Belgian Port Antwerp-Bruges is causing oil deliveries to be disrupted after a harbourpilots' strike. The port authority has reported up to 188 ships still waiting to berth, or depart. Analysts say oil deliveries are still disrupted, despite the fact that Flemish seapilots who have a crucial role in navigating vessels through dangerous or congested waters temporarily suspended their strike. The strike began on October 5, in protest at federal pension reforms. Backlogs have forced shipping lines, which are responsible for rerouting or delaying cargo, to strain supply chains. S&P Global Commodity Insights quoted market participants who said that strikes had slowed the arrivals into Europe. Antwerp is a major location for jet-fuel and diesel discharge. Port authorities reported that the logistics chain was operating at 70% capacity as of Wednesday. A national strike had caused additional disruption the day before. Port authorities reported that the ongoing slowdown is preventing traffic from resuming. The action will continue until Sunday, according to port officials. As of Wednesday night, 128 ships waited to enter the port and 60 remained in line for departure. The port reported that towage services, locks, and bridges were all fully functional, but it would take several days to clear the backlog. Zeebrugge is part of the port complex and has seen less disruption. Delays are expected to be resolved by late afternoon. (Reporting and editing by Kirsty Donovan; Alban Kacher)
United Airlines begins labor agreement settlements with union
United Airlines has actually begun settlements with the Teamsters union, which is promoting a. brand-new agreement covering 10,000 aviation upkeep and related. employees in the United States, the labor union stated on Tuesday.
The Teamsters National Negotiating Committee is seeking. industry-leading salaries, a quicker timeline for reaching the top. pay rate, enhanced health care benefits and higher security. standards.
The negotiations-- which have begun four months before the. current contract is set to end up being amendable-- come at a time. when countless maintenance team member and flight. attendants across airlines are requiring higher earnings and more. advantages after carriers published record earnings assisted by a. rebound in travel need post-pandemic.
Individually, United Airlines' flight attendants are set to. vote in August on whether to license a strike if an agreement. on a new employment contract can not be reached.
(source: Reuters)