The United States takes a historic leap in energy production as President Donald Trump announces the first new oil refinery in 50 years, powered by a landmark $300 billion investment from India’s Reliance Industries. This groundbreaking project in Brownsville, Texas, is set to create thousands of jobs, inject billions into the U.S. economy, and strengthen America’s energy independence. Trump praises Reliance’s backing as a pivotal moment for the U.S. energy sector, emphasizing the strategic importance of the refinery in stabilizing oil and gas markets amid rising global tensions. With streamlined permits, tax incentives, and an “America First” approach, the Brownsville refinery aims to fuel domestic markets, boost exports, and enhance national security.
11 March,2026 06:25 PM IST
Global oil prices experienced a sharp drop of nearly 9% after President Donald Trump signaled that the ongoing US-Iran conflict may be approaching a resolution. Brent crude tumbled to $92.50 per barrel, while US oil futures fell to $88.60, correcting Monday's surge to $119.50, the highest since the Russia-Ukraine war. Despite the sharp drop, oil prices remain around 30% above pre-conflict levels, highlighting ongoing market volatility and energy supply concerns. President Trump also issued a stern warning to Iran against disrupting the Strait of Hormuz, promising a force twenty times stronger, signaling that tensions remain a key factor influencing global oil and stock markets. WATCH
10 March,2026 11:07 AM IST
Israeli airstrikes on major Iranian oil storage facilities near Tehran have triggered massive fires and sent shockwaves through global energy markets. According to reports, US officials were caught off guard by the scale of the operation, with one source claiming the message from Washington to Tel Aviv was simply “WTF”. The strikes targeted oil depots and a refinery that Israel claimed were linked to missile operations. Dramatic visuals from Tehran showed huge fires, thick black smoke, and burning oil spreading through industrial areas.
10 March,2026 01:45 AM IST
Oil markets are reeling after a dramatic surge in crude prices following rising geopolitical tensions in West Asia. US President Donald Trump has defended the spike in global energy costs, calling it a temporary sacrifice in the broader push to dismantle Iran’s nuclear capability and safeguard long-term global security. As crude prices surge to levels not seen since 2022, global markets are feeling the pressure. U.S. oil futures have crossed the $108 per barrel mark while Brent Crude Oil has jumped sharply, reflecting investor fears of deeper supply disruptions across the Gulf region. Despite the economic turbulence, Trump insists the short-term pain is necessary if it leads to a nuclear-free Iran and long-term stability in the region. Critics, however, warn that sustained energy price spikes could weigh heavily on global growth, consumer spending and already fragile supply chains. WATCH
09 March,2026 04:27 PM ISTADVERTISEMENT
