NYC’s Transit System Cuts Budget Gaps With Operating Savings

Oil prices experienced their largest decline in a week as U.S. fuel inventories increased. Investors are closely watching the potential impact of upcoming sanctions on two major Russian oil producers, which are set to take effect on Friday.

TotalEnergies CEO Patrick Pouyanne cautioned European nations against becoming overly dependent on US liquefied natural gas (LNG) as they seek to reduce reliance on Russian supplies. He emphasized the need for Europe to diversify its energy sources to ensure stability and security in the face of ongoing geopolitical tensions.

Aramco has signed preliminary deals with the United States valued at over $30 billion. This agreement marks a significant step in strengthening economic ties between the two nations, particularly in the energy sector. The deals are expected to enhance collaboration and investment opportunities.

Saudi Arabia and the United States have established a strategic partnership focused on artificial intelligence (AI). This collaboration aims to enhance technological capabilities and foster economic ties between the two nations, reflecting a growing interest in AI development and investment.

Kraken has confidentially filed for an initial public offering (IPO) in the United States, positioning itself to potentially go public as early as next year. This move reflects the company's strategy to expand its operations in the growing cryptocurrency market.

The United States is set to implement lower tariffs on imports from Switzerland in the coming days. This decision is expected to impact trade relations between the two countries and may influence market dynamics.

US mortgage activity declined last week as home-financing costs continued to tick higher, adding to evidence of a struggling housing market.

James McGregor, Chairman of APCO Worldwide's Greater China division, stated that China holds a significant advantage in trade negotiations with the United States due to its strong investments in innovation and its dominance in global supply chains. McGregor shared these insights during an interview on 'Bloomberg: The China Show' at the Bloomberg New Economy Forum held in Singapore.