Key PointsWu Lei sold 60,000 Class A Ordinary Shares indirectly, generating ~$2.45 million at a weighted average price of $40.80 per share on March 19–20, 2026.
Key PointsWu Lei sold 60,000 Class A Ordinary Shares indirectly, generating ~$2.45 million at a weighted average price of $40.80 per share on March 19–20, 2026.
Chevron Warns California Facing Historic Fuel Crisis As Diesel Hits Record $7 The world's biggest energy execs are currently at the annual CERAWeek conclave in Houston where, understandably, they are dropping bulletin bombs reeking of fire and brimstone, and warning the already critical oil/gas situation will only get worse if the pre-war status quo isn't restored (which incidentally will be great...
Chevron Warns California Facing Historic Fuel Crisis As Diesel Hits Record $7 The world's biggest energy execs are currently at the annual CERAWeek conclave in Houston where, understandably, they are dropping bulletin bombs reeking of fire and brimstone, and warning the already critical oil/gas situation will only get worse if the pre-war status quo isn't restored (which incidentally will be great for their bottom lines... until the world is tipped into a recession). Take US oil giant Chevron, which warned that California is careening toward an energy crisis because of the Iran war (which will likely be resolved soon), and that the company may quit refining oil in the state unless officials roll back taxes and regulations (which is unlikely to ever be resolved as long as Dems are in charge of the Golden State). California is highly exposed to the disruption rippling across commodity markets because it imports about 20% of its refined fuels from Asia. But as extensively discussed here, oil product shipments from China, South Korea, Singapore and elsewhere are at risk of slowing significantly as Iran blocks the Strait of Hormuz, leaving Asian nations struggling to meet their own demand at home let alone export to California. Chevron’s oil refining head Andy Walz said the potential for fuel shortages in California is his worst fear: “ We have refineries in Asia that are having to cut crude, and so they’re going to make less products ,” Walz said in an interview Tuesday. “What if San Francisco doesn’t have the jet fuel it needs? Or Los Angeles? Or maybe gasoline?” And as if to confirm his warning, just hours later the price of California Diesel hit a record high just above $7 per gallon, or $7.072 to be precise. That topped the previous record of $7.012 in June 2022, in the first months of Russia’s war in Ukraine. Source: AAA Since California is disconnected from the US fuel-making centers of Texas and Louisiana, it is essentially an energy island. That’s compounded by ...