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The USA will see 'expensive oil flights': the industry expects the Northeast to quickly feel the pressure of rising prices.
① The US has imposed a 25% tariff on products from Canada and Mexico, which is expected to increase the import costs of US Energy; ② Industry insiders point out that the tariffs have caused wholesale gasoline prices in the US Northeast to soar, with prices expected to increase by 20 to 40 cents per gallon. ③ Fuel suppliers added that Canadian supplies cannot be quickly replaced in a short time, and Consumers will have to share the additional costs along with importers.
Trump Plans Expansion of Domestic Energy Production in Speech
Saudi Aramco forecasts a decrease in profits for the full year 2024 and a dividend cut in 2025.
On the 4th, Saudi Aramco, the state-owned petroleum company of Saudi Arabia, announced that its financial results for the fiscal year ending December 2024 showed a decrease in net profit. The company revealed that it expects a reduction in shareholder returns for 2025. The net profit was 106.2 billion dollars, down from 121.3 billion dollars the previous year. The annual dividends amounted to 124.2 billion 50 million dollars, an increase from the previous year's 97.7 billion 80 million dollars. However, a decrease to 85.4 billion dollars is anticipated for 2025. The basic dividend for the October-December period (the fourth quarter) is 21.1 billion dollars.
Here's How Much $100 Invested In JPMorgan Chase 20 Years Ago Would Be Worth Today
The Flu Season Was so Heavy That It May Have Pushed up Earnings for Some Stocks
Retailers Warn That Fruit and Vegetable Prices Could Be Higher in Days Due to Tariffs