Esteban Alejandro/iStock via Getty Images There was a recent announcement about the coming management changes with Vicki Hollub, President and CEO of Occidental Petroleum ( OXY ), retiring. But short of a major malfunction in this process, usually it takes several years for a new person to “make his mark” on a big company like this one. Therefore, while it is important for the new CEO to begin est...
Esteban Alejandro/iStock via Getty Images There was a recent announcement about the coming management changes with Vicki Hollub, President and CEO of Occidental Petroleum ( OXY ), retiring. But short of a major malfunction in this process, usually it takes several years for a new person to “make his mark” on a big company like this one. Therefore, while it is important for the new CEO to begin establishing a new record right away, it is probably much more important to notice the effects of the acquisitions on the company's cost structure in the future. Many of the acquisitions (if not all of them) were “sold” with the idea that they were accretive right away. The last article covered this in some detail. That statement is fair enough and should have already been judged by the market and individual investors. However, a low-cost acquisition also has future benefits in that lower-cost wells slowly gain in significance from these acquisitions to keep lowering the company's overall breakeven point over time. Furthermore, remember that Occidental Petroleum sold the chemical division to Berkshire Hathaway Inc. ( BRK.A ) ( BRK.B ). That took care of any debt issues from the CrownRock acquisition (or really any of the acquisition period). Management several times expected many of these acquisitions to have in the neighborhood of 20% lower costs (especially with the improvements that management had in mind). That is a very rough number that may be exceeded in some cases while possibly falling short in other cases. The other thing is that technology keeps advancing to make these deals even better. The significance and speed of those advances can always be a discussion point. But over time, they become a big part of the overall strategy. There is still the preferred stock to deal with from the Anadarko acquisition. But that should be a very straightforward process now that the sale of the Chemical business has been completed. Of course, it also helps that commodity prices have...
JHVEPhoto/iStock Editorial via Getty Images Four Chinese universities, including two with ties to the People’s Liberation Army (PLA), purchased Super Micro Computer ( SMCI ) servers equipped with restricted AI chips over the past year, Reuters reported, citing procurement data. It was not clear how the servers were sourced. Super Micro Computer ( SMCI ) shares crashed more than 28% last week on Fr...
JHVEPhoto/iStock Editorial via Getty Images Four Chinese universities, including two with ties to the People’s Liberation Army (PLA), purchased Super Micro Computer ( SMCI ) servers equipped with restricted AI chips over the past year, Reuters reported, citing procurement data. It was not clear how the servers were sourced. Super Micro Computer ( SMCI ) shares crashed more than 28% last week on Friday after three individuals linked to the company, including a co-founder, were charged with assisting in the smuggling of at least $2.5B worth of AI technology to China. In an indictment unsealed on Thursday last week, the U.S. government alleged that Yih-Shyan “Wally” Liaw, Ruei-Tsan, “Steven” Chang, and Ting-Wei “Willy” Sun worked together to violate the Export Control Reform Act. Liaw co-founded Super Micro in 1993, and joined its board of directors in 2023. Chang was a sales manager in the Taiwan office of Super Micro, while Sun was a contractor. Liaw resigned from Super Micro's board on March 20, 2026. The U.S. has restricted sales of certain advanced AI chips, including those from Nvidia ( NVDA ), since 2022 over concerns they could support China’s military capabilities. Chinese universities have previously obtained restricted chips through servers from Super Micro and other vendors, according to earlier Reuters reporting. The continued purchases, particularly by institutions linked to the PLA, are likely to raise fresh concerns among U.S. lawmakers. On Monday, two U.S. senators urged Commerce Secretary Howard Lutnick to consider pausing export licenses that allow advanced Nvidia ( NVDA ) AI chips and related server systems to be shipped to China or via intermediaries in Southeast Asia. Separately, two additional universities, including one with military ties, attempted similar purchases in 2025 and early 2026, though it remains unclear whether those transactions were completed. More on Super Micro Computer Super Micro Computer Has Lots Of Smoke: Watch Out For Th...
A cornucopia of bargains is lighting up booking sites for Thailand, where five-star luxury hotel rooms are going for huge discounts during the peak holiday season – the unplanned spin-off from the Iran war which threatens to hit international tourist arrivals at a crucial time of the year. At the same time, the surge in diesel costs caused by the choking of the Strait of Hormuz has forced many Tha...
A cornucopia of bargains is lighting up booking sites for Thailand, where five-star luxury hotel rooms are going for huge discounts during the peak holiday season – the unplanned spin-off from the Iran war which threatens to hit international tourist arrivals at a crucial time of the year. At the same time, the surge in diesel costs caused by the choking of the Strait of Hormuz has forced many Thais to pause or scrap domestic travel plans, fearing such expenses will continue to rise during the...
After a torrid month in which European gas prices surged, plunged and surged again on the war in the Middle East, traders now face a dilemma. When gas stockpiling season begins in April, governments are keen for traders to make an early start refilling severely depleted storage tanks. But the gap between summer and winter gas prices is telling them to wait. This is the choice: Lock in costly suppl...
After a torrid month in which European gas prices surged, plunged and surged again on the war in the Middle East, traders now face a dilemma. When gas stockpiling season begins in April, governments are keen for traders to make an early start refilling severely depleted storage tanks. But the gap between summer and winter gas prices is telling them to wait. This is the choice: Lock in costly supplies right away to secure fuel for next winter — a trade that’s currently unprofitable — or wait until prices become more favorable. For now, traders say they are largely staying on the sidelines, heeding the financial incentives set by futures contracts as political uncertainty clouds the duration of the Middle East conflict and its impact on energy flows. “In that environment, price becomes the primary allocation mechanism,” said Anders Porsborg-Smith , managing director and senior partner at Boston Consulting Group . “Europe can secure volumes, but potentially at a significantly higher cost.” From April until the end of October, when temperatures are higher and gas consumption is lower, countries normally replenish their storage sites in preparation for next winter. It’s typically a profitable activity, since gas bought cheaply in the warmer months can be resold at higher prices when it’s cold. That premium can even be locked in immediately using futures contracts for summer and winter. But with just days to go until the start of the injection season, the spread between summer and winter gas is still too narrow to lock in a profit. The disruption to liquefied natural gas supplies caused by the war in the Middle East — with both immediate and long-term impacts — makes it unclear when storage injections will make economic sense. Iran’s blockade on most energy flows through the Strait of Hormuz has halted LNG supplies from Qatar to customers across the world. A missile attack also knocked out about 17% of the emirate’s production capacity for several years. This raises the p...
The number of Chinese residents in Japan has continued to rise, even as ties between the two countries have become increasingly fractious, according to data released Friday. As of the end of December, the number of Chinese residents had increased by 6.5% from the previous year to 930,428. Chinese people accounted for 22.6% of all foreign residents in Japan, making them by far the largest group, Mi...
The number of Chinese residents in Japan has continued to rise, even as ties between the two countries have become increasingly fractious, according to data released Friday. As of the end of December, the number of Chinese residents had increased by 6.5% from the previous year to 930,428. Chinese people accounted for 22.6% of all foreign residents in Japan, making them by far the largest group, Ministry of Justice data showed. Beijing has criticized Tokyo in increasingly strident terms since Prime Minister Sanae Takaichi last year suggested that a military conflict around Taiwan could prompt Japan to dispatch its own military. China sees Taiwan as part of its territory. China stepped up its rhetoric again this week after an officer belonging to Japan’s Self-Defense Forces breached the grounds of China’s embassy in Tokyo armed with a knife. The man was arrested and Japan’s top government spokesman expressed regret over the incident. Read more: Japanese Self-Defense Member Arrested After China Embassy Breach The data on residents comes as Chinese tourist numbers plunge following government warnings to steer clear of Japan. Visits by Chinese nationals are down by more than half so far this year compared with the same period last year. The overall number of foreign residents in Japan climbed 9.5% from the previous year to 4.13 million, compared with Japan’s total population of about 123 million.
Bet_Noire/iStock via Getty Images By Ewa Manthey , Commodities Strategist | Warren Patterson , Head of Commodities Strategy Energy – Oil steadies as Iran deadline is pushed back Oil prices steadied after US President Donald Trump again pushed back the deadline for striking Iran’s energy. Trump said Tehran had requested a seven‑day extension, but he opted for 10 days, setting a new deadline of Apri...
Bet_Noire/iStock via Getty Images By Ewa Manthey , Commodities Strategist | Warren Patterson , Head of Commodities Strategy Energy – Oil steadies as Iran deadline is pushed back Oil prices steadied after US President Donald Trump again pushed back the deadline for striking Iran’s energy. Trump said Tehran had requested a seven‑day extension, but he opted for 10 days, setting a new deadline of April 6. Brent was trading around $108 a barrel, while West Texas Intermediate was near $94 on Friday morning. Extending the ceasefire takes some near-term heat out of the market, but risks still lean to the upside. The scale of supply at risk remains significant – around 8 million barrels per day are already offline, and a much larger volume of flows through the Gulf remains vulnerable – so the geopolitical premium is unlikely to fade meaningfully. Thursday saw another volatile session in the oil market; prices rose following conflicting signals from Washington and Tehran. President Trump said he didn't know if the US is “willing” to work with Iran on a deal, shortly after the US warned of potential threats from Iran‑based Houthi militants in the Bab el‑Mandeb Strait. Prices had briefly pared gains after reports that Iran had responded to a US‑backed 15‑point peace proposal via intermediaries, though Tehran has previously rejected US outreach and continues to push its own conditions, including proposals to formalise transit fees for the Strait of Hormuz, with lawmakers working on a draft bill to impose a toll in exchange for providing security to ships via the key waterway. With both sides continuing attacks and the US reportedly reinforcing its military presence in the region, concerns over supply disruptions remain elevated. Meanwhile, Iran permitted Malaysian vessels trapped in the Gulf to return home through the strait, Malaysia’s Prime Minister Anwar Ibrahim said on Thursday evening. Trump also said on Thursday that Iran had allowed 10 oil tankers to sail through the stra...
intek1/iStock via Getty Images By Kelvin Wong The initial pop-up in US dollar strength following the FOMC meeting last Wednesday, March 18, 2026, does not have a clear positive follow-through, as the US Dollar Index remains trapped within a complex medium-term sideways range configuration that has been in place since May 29, 2025. The recent 3-day rally in the US Dollar Index, which began on Tuesd...
intek1/iStock via Getty Images By Kelvin Wong The initial pop-up in US dollar strength following the FOMC meeting last Wednesday, March 18, 2026, does not have a clear positive follow-through, as the US Dollar Index remains trapped within a complex medium-term sideways range configuration that has been in place since May 29, 2025. The recent 3-day rally in the US Dollar Index, which began on Tuesday, March 24, 2026, has almost reached the medium-term range resistance zone of 100.10/100.54, where minor short-term US dollar strength may be dissipated at this juncture (see Fig. 1). Fig. 1: US Dollar Index medium-term trend as of March 27, 2026 (Source: TradingView) Hawkish ECB "saves" the euro for now Fig. 2: Narrowing of 2-year yield discount spread between Eurozone sovereign bond and US Treasury note as of March 27, 2026 (Source: TradingView) A hawkish stance or guidance from the US Federal Reserve does not necessarily result in sustained US dollar strength, as the currency’s trajectory is ultimately shaped by relative monetary policy dynamics across other major developed market central banks. The European Central Bank (ECB) has voiced concerns of stagflation risk arising from the ongoing US-Iran war that led to the closure of the Strait of Hormuz, reducing global oil and energy flows significantly. Even though in the ECB’s last monetary policy meeting on March 19, 2026 it left its key policy deposit rate unchanged at 2% since June 2025, it has issued a hawkish guidance where the ECB prioritized heightened inflation risk over demand destruction that led to the eurozone’s interest rate swaps market to price in at least two interest rate hikes by the ECB before 2026 ends. In a slew of public speeches made this week so far, key ECB officials have maintained their stances of combating inflation as a primary initiative over demand growth concerns arising from a potential prolonged global oil and energy supply shock. ECB President Lagarde said the ECB will act decisively a...
Photo: VCG Citic Securities Co. Ltd. (600030.SH) posted record high revenue and profit for 2025, as a strong rally in China’s stock markets boosted returns from its proprietary trading business, which made up more than half of earnings. The brokerage reported annual revenue of 74.8 billion yuan ($10.4 billion) and net profit of 30.1 billion yuan, according to its annual report published Thursday. ...
Photo: VCG Citic Securities Co. Ltd. (600030.SH) posted record high revenue and profit for 2025, as a strong rally in China’s stock markets boosted returns from its proprietary trading business, which made up more than half of earnings. The brokerage reported annual revenue of 74.8 billion yuan ($10.4 billion) and net profit of 30.1 billion yuan, according to its annual report published Thursday. Both were the highest on record.
The deadly bombing of an Iranian school spurred “visceral horror”, the UN rights chief said Friday, urging Washington to conclude its probe and demanding justice “for the terrible harm done”. Speaking at the start of an urgent debate in the UN Human Rights Council focused on the February 28 strike on an Iranian junior school in Minab on the first day of the US-Israeli war on Iran, Volker Turk said...
The deadly bombing of an Iranian school spurred “visceral horror”, the UN rights chief said Friday, urging Washington to conclude its probe and demanding justice “for the terrible harm done”. Speaking at the start of an urgent debate in the UN Human Rights Council focused on the February 28 strike on an Iranian junior school in Minab on the first day of the US-Israeli war on Iran, Volker Turk said that “whatever differences countries have, we can all agree they will not be solved by killing...