After President Trump cancelled peace talks, Iran makes an offer
** Iran has offered to end its chokehold on the Strait of Hormuz in exchange for the U.S. lifting its blockade on the country and an end to the war, while proposing that discussions on the larger question of its nuclear program would come in a later phase, two regional officials said Monday.
Another route for Middle East oil
** The Strait of Hormuz crisis is driving nations’ efforts to develop alternative Gulf-to-Europe trade routes, with Iraq’s $24 billion “Development Road” project at the forefront, analyst says. The route from Iraq’s Grand Faw Port to Turkey and on to Europe, is advancing “with discipline,” Middle East Council on Global Affairs analyst Muhanad Seloom told Fox News Digital, calling it a “permanent” and “transformative” wartime shift.
Airlines face tough financial flights
** With the Strait of Hormuz still functionally closed to global trade and oil prices hovering at $100 per barrel, airlines are facing an increasingly difficult situation, given their reliance on jet fuel. Delta Air Lines, Air Canada, KLM, and Lufthansa have all canceled dozens of less-popular routes to prioritize those that bring in the largest numbers of passengers. Lufthansa also shut down its regional airline CityLine a year earlier than initially planned.
Shell acquires Canadian firm
** Shell has agreed to buy Canadian energy company ARC Resources in a deal valued at $16.4 billion, including debt, which the British oil and gas major said on Monday would boost its output by 370,000 barrels of oil equivalent per day.
Oil pirates
** Pirates have hijacked an oil tanker with 17 crew that was sailing near the Somali coast, according to multiple security officials who spoke to the BBC. The ship, Honour 25, was overrun by six gunmen, when it was approximately 30 nautical miles offshore, the officials said.
US energy
** Maine Gov. Janet Mills vetoes what would have been the first statewide data center moratorium, saying it would have stopped a widely supported project already under development.
** U.S. President Donald Trump has fired all 24 members of the National Science Board (NSB), the body that oversees the National Science Foundation (NSF). Many science advocates see it as the latest step by his administration to erode—some would say destroy—the independence of the 76-year-old research agency.
** The United States Federal Railroad Administration (FRA) has announced a 4.7 billion USD investment into rail projects along Amtrak’s Northeast Corridor. The investment is intended to ‘enhance travel for American families’, as well as aid in the revitalisation of the nation’s main rail hubs – including New York Penn Station and Washington Union Station.
** The Energy Department recently greenlit at least 10 carbon removal projects — including two major hubs in Texas and Louisiana — out of 21 previously approved under Biden.