U.S. energy inventories have tightened as rising exports, increased refining activity, and a large release from the Strategic Petroleum Reserve have reduced domestic petroleum stockpiles, according to Wells Fargo Investment Institute. The chart showed U.S. petroleum inventories coming under pressure lately, with year-over-year inventory growth remaining subdued as stockpiles declined heading into ...
U.S. energy inventories have tightened as rising exports, increased refining activity, and a large release from the Strategic Petroleum Reserve have reduced domestic petroleum stockpiles, according to Wells Fargo Investment Institute. The chart showed U.S. petroleum inventories coming under pressure lately, with year-over-year inventory growth remaining subdued as stockpiles declined heading into the summer driving season. Wells Fargo said the U.S. has benefited from its position as a net energy exporter, providing some insulation from immediate global supply shocks. However, stronger exports and shifting trade flows have increasingly pulled on domestic inventories, leaving the market more exposed to disruptions. The institute also showed heightened refining activity and an emergency 172M-barrel release from the Strategic Petroleum Reserve earlier this year as additional factors reducing the U.S. supply buffer. Looking ahead, Wells Fargo said seasonal summer demand could intensify inventory pressures and likely lead to higher gasoline prices. The firm said it does not recommend chasing gains in energy with oil prices already elevated, instead favoring precious and industrial metals for potential upside. Here are some Energy ETFs: ( XLE ), ( AMLP ), ( VDE ), ( XOP ), ( OIH ), and ( IXC ). More on State Street® Energy Select Sector SPDR® ETF Downside Risks Rise As Tech Volatility Spikes Iran Escalates: Is Oil About To Soar? The Fed And Oil Vs. AI Oil rises modestly after U.S. military hits back at Iran over helicopter attack Weekly ETFs: Six of 11 sectors record outflows; materials sector leads inflows
Outcome of polls in four states offer mixed signals about direction of two major parties before November’s midterms Progressives rallied round the controversial Graham Platner after his primary victory in Maine on Tuesday, while Donald Trump again exerted his grip on the Republican party, helping defeat a politician who pushed for the release of the Jeffrey Epstein files. Primary elections were he...
Outcome of polls in four states offer mixed signals about direction of two major parties before November’s midterms Progressives rallied round the controversial Graham Platner after his primary victory in Maine on Tuesday, while Donald Trump again exerted his grip on the Republican party, helping defeat a politician who pushed for the release of the Jeffrey Epstein files. Primary elections were held in four states – Maine, Nevada, North Dakota and South Carolina – ahead of November’s midterms to decide control of both houses of Congress. The results offered mixed signals about the direction of the two major parties. Continue reading...
Cambridge Aerospace , a British defense technology startup developing interceptor systems to protect against drones and cruise missiles, is in discussions to raise approximately $300 million at a valuation of around $3.5 billion, according to people familiar with the matter. Venture firm DFJ Growth is in talks to lead the round, the people said, asking not to be identified because the information ...
Cambridge Aerospace , a British defense technology startup developing interceptor systems to protect against drones and cruise missiles, is in discussions to raise approximately $300 million at a valuation of around $3.5 billion, according to people familiar with the matter. Venture firm DFJ Growth is in talks to lead the round, the people said, asking not to be identified because the information isn’t public. The fundraising is not finalized and the amount could still change, they added. A spokesperson for Cambridge Aerospace declined to comment. DFJ Growth didn’t respond to requests for comment. The financing would mark a dramatic acceleration for a company that Bloomberg reported last year raised funds at a $400 million valuation before debuting any products. Founded in late 2024 by aerospace engineer and University of Cambridge professor Steven Barrett, Cambridge Aerospace has become one of Europe’s most valuable defense startups and attracted backing from venture capital firms including Accel, Lakestar , Lux Capital and Spark Capital . Read More: UK Startup With Iron Dome-Like Tech Eyes $400 Million Valuation The proliferation of cheap drones on the battlefield in recent years has led to a boom in low-cost interceptors that can shoot unmanned aircraft down at a fraction of the cost of traditional air-defense missiles, which can run millions of dollars each. Such interceptors have been widely used in Ukraine following Russia’s full-scale invasion, and interest in them soared during the US-Israel war with Iran as Tehran targeted military and civilian infrastructure in the Middle East with cheap missiles. Cambridge Aerospace is developing two interceptor drones, the Skyhammer and the Starhammer. The Skyhammer, which has been in testing since early 2025 and is entering early-stage production, is tube-launched with a range of as much as 30 kilometers and a top speed of 700 kilometers per hour. The Starhammer is rocket-powered and designed to target higher-speed miss...
The European Commission has declared its trade and economic relationship with China “unsustainable”, pointing to a daily trade deficit of €1 billion (US$1.16 billion) and Chinese manufacturing overcapacity that puts millions of jobs across various sectors at risk. However, a clear-eyed analysis reveals this premise to be entirely flawed. The narrative spun by Brussels is a desperate attempt to wea...
The European Commission has declared its trade and economic relationship with China “unsustainable”, pointing to a daily trade deficit of €1 billion (US$1.16 billion) and Chinese manufacturing overcapacity that puts millions of jobs across various sectors at risk. However, a clear-eyed analysis reveals this premise to be entirely flawed. The narrative spun by Brussels is a desperate attempt to weaponise trade policy to mask structural, self-inflicted failures. To understand the absurdity of the...