Slipping oil prices
Oil prices have plunged on reports that the US and Iran are nearing a peace deal, a development that paid off big for traders that happened to be shorting crude just ahead of the news.
Bombs down the smoke stack
The U.S. carried out new attacks on Iranian targets Friday, striking several empty oil tankers trying to break the blockade, according to a post on X by U.S. Central Command (CENTCOM). This latest incident comes as the UAE says it was attacked again by Iran and hours after the U.S. and Iran exchanged blows in and around the Strait of Hormuz.
Seizure in the Strait
Iran’s Islamic Revolutionary Guard Corps (IRGC) claims to have captured an oil tanker in a “special operation” in the Gulf of Oman, as the US military says it disabled two tankers seeking to enter Iranian ports. The statements on Friday came just hours after the US and Iran traded fire in the Strait of Hormuz, threatening a fragile pause in fighting and ongoing efforts to reach a lasting ceasefire deal.
Sneaky tankers
With their location trackers shut off to avoid Iranian attacks, the United Arab Emirates and buyers have recently sailed several tankers loaded with crude through the Strait of Hormuz in a bid to move oil bottled up in the Gulf by the Middle East conflict, according to industry sources and shipping data.
US Energy
** Iowa and South Dakota got the highest share of their power from renewable energy in 2025 of any state, thanks to their heavy reliance on wind energy.
** Wisconsin regulators approve a power supply contract between Alliant Energy and Meta for a $1 billion hyperscale data center campus, but criticize both companies for lacking transparency during the process.
** The federal Bureau of Land Management fast-tracks reviews of a proposed natural gas pipeline designed to serve the Project Jupiter data center complex under development in southern New Mexico.
** Colorado Gov. Jared Polis signs legislation clearing the way for plug-in solar, but systems authorized by the law aren’t yet widely available.