Venezuela's state-run oil company PDVSA has begun cutting crude production because it is running out of storage capacity due to an ongoing U.S. oil blockade that has reduced exports to zero, piling more pressure on an interim government trying to hang onto power in the face of U.S. threats of more military action.
The dollar surged on Monday as soaring oil prices sent investors scrambling for cash on worries that a protracted Middle East war could severely disrupt energy supplies and hurt global growth.Against the surging greenback, the euro EUR= and sterling GBP= were down roughly 1% in Asia, while the Aussie AUD= and even the safe-haven Swiss franc CHF= similarly tumbled, as the dollar proved king."The U.
Trading houses and buyers of Venezuelan oil have chartered the first very large crude carriers (VLCCs) to export from the South American country since a Caracas-Washington supply deal began, which is set to speed up shipments starting in March while boosting deliveries to India, according to four sources and data.
The Ancona shipyard hosted the latest stage of the "Open Shipyards, a View of the Future" roadshow on July 28, 2025, an initiative promoted by Fincantieri that opens the doors of the Group's Italian facilities to institutions and stakeholders. The event focused on dialogue on industrial innovation, organizational transformation, and sustainability challenges
Venezuelan oil exports under a flagship $2 billion supply deal with the U.S. reached about 7.8 million barrels on Wednesday, vessel-tracking data and documents from state-run PDVSA showed, with shipments accelerating after the U.S. eased its blockade but not enough for PDVSA to fully reverse output cuts.Following the U.S.
U.S. manufacturing contracted for a third straight month in May and suppliers took the longest time in nearly three years to deliver inputs amid tariffs, potentially signaling looming shortages of some goods.President Donald Trump's aggressive trade policy again dominated commentary from manufacturers in the Institute for Supply Management (ISM) survey published on Monday
New orders for key U.S.-manufactured capital goods plunged by the most in six months in April amid mounting uncertainty over the economy because of tariffs, suggesting business spending on equipment weakened at the start of the second quarter.The report from the Commerce Department on Tuesday also showed shipments of these goods falling last month.