latest news in economy
Texas Ports Surge as Venezuelan Heavy Crude Imports Triple Under New Trade Deal
Houston, Sunday, 1 March 2026.
Following a $2 billion agreement, Venezuelan oil exports to the U.S. tripled in January 2026. Texas refineries are rapidly absorbing these heavy crude shipments to replace dwindling Mexican supplies, signaling a major shift in Gulf Coast energy dynamics.
US and Israel Kill Iranian Supreme Leader, Sparking Global Oil Supply Fears
Washington, Saturday, 28 February 2026.
On February 28, 2026, joint US-Israeli strikes killed Supreme Leader Ayatollah Ali Khamenei. Markets brace for extreme volatility and surging oil prices as the Strait of Hormuz faces potential closure.
Hot Inflation Data and AI Jitters Send Dow Tumbling Over 500 Points
New York, Friday, 27 February 2026.
Markets sank as January producer prices unexpectedly surged 0.5%, reigniting rate fears. Compounding the turmoil, CoreWeave shares collapsed 20%, signaling deepening investor anxiety regarding the profitability of AI infrastructure.
US Grants Presidential Permit for $2.5 Billion Cable Linking Puerto Rico and Dominican Republic Grids
San Juan, Friday, 27 February 2026.
The U.S. Department of Energy has approved Project Hostos, a $2.5 billion privately funded undersea cable connecting Puerto Rico and the Dominican Republic. Slated for operation in 2031, this critical infrastructure aims to stabilize Puerto Rico’s fragile grid and power over 600,000 homes.