Goldman Sachs trading desk attributes the recent plunge in oil prices to a combination of weaker physical markets, decreased Middle East risk premium, and other market dynamics.
The U.S. has imposed sanctions on three U.A.E.-based maritime companies and three vessels for transporting Russian oil above the imposed $60 price cap.
Lucid Motors reported a substantial loss of $227,000 per car sold in the third quarter, highlighting significant financial challenges in the electric vehicle industry.