Browsing: Business

Oil prices swing after Brent tops $90 on supply strains

Oil prices surged on July 29, pushing Brent crude above $90 a barrel as renewed Middle East fighting and tighter U.S. inventories lifted global benchmarks. Brent futures settled at $90.74, up $6.65, or 7.9%. West Texas Intermediate gained $5.20, or 6.6%, to $84.46. Both contracts posted their strongest daily advances in several weeks. The contracts had already gained more than 20% during July as regional supply disruptions affected energy markets.

UK solar capacity reaches 22.8 GW before plug-in launch

UK solar capacity reached 22.8 gigawatts at the end of June 2026, extending a sharp rise in deployment. The Department for Energy Security and Net Zero recorded about 2.076 million installations nationwide. Developers added 27,391 systems during June, contributing 132 megawatts. The latest monthly figures remain provisional and may change as more projects enter the official dataset. The capacity total covers rooftop arrays, commercial systems and large solar farms. It also sets a baseline before new plug-in solar rules take effect.

Canadian economy grew 0.3% in May report

The monthly economic expansion was led primarily by a 1.0 per cent rise in the mining, quarrying, and oil and gas extraction sector, marking its second straight month of sector-wide growth. Increased production across Alberta bitumen sites and deferred routine spring maintenance enabled higher crude oil extraction volumes throughout May. Support activities for oil and gas extraction surged by 9.8 per cent, recording its seventh consecutive monthly expansion. Additionally, transportation and warehousing output grew by 0.3 per cent, supported by increased pipeline throughput carrying natural gas to export markets and higher domestic freight movements.

India commits 84084 crore rupees to offshore energy security

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a major national initiative on Friday to accelerate hydrocarbon discovery across Indian ocean basins. Official releases from the Press Information Bureau confirmed the approval of the ₹84,084 crore Samudra Manthan National Offshore Exploration Scheme. Implemented under the Ministry of Petroleum and Natural Gas through financial year 2030–31, the central sector program is structured to expand deepwater drilling, enhance energy security, and unlock untapped oil and gas resources within India’s Exclusive Economic Zone.

Gold prices fall on strong dollar ahead of central bank meeting

The strengthening United States dollar maintained positioning near a one-month peak, creating direct headwinds for dollar-denominated commodities across international trade channels. Currency market analysts noted that the robust greenback reduced the investment appeal of bullion for holders utilizing alternative foreign currencies. Market participants directed close attention toward the two-day policy meeting conducted by the Federal Reserve, which concluded its deliberations on Wednesday. Traders sought definitive guidance regarding future interest rate trajectories, inflationary pressures, and monetary policy adjustments. Financial data compiled by CME Group via its FedWatch Tool indicated that market expectations for the central bank to maintain current interest rates stood at 62 percent.

Senate crypto bill faces pushback over conflict of interest rules

Ethics watchdogs and legal experts called on Congress on Monday to institute strict anti-corruption provisions in pending cryptocurrency legislation, warning that lawmakers must close the crypto conflict of interest loopholes or scrap the CLARITY Act entirely. In a joint statement, nonpartisan advocacy group Democracy Defenders Action and civil society organization Transparency International U.S. criticized the ethics text contained within the Digital Asset Market Clarity Act. The organizations argued that the current statutory framework fails to protect the integrity of the digital asset marketplace, American consumers, and the national economy from self-dealing by public officials.