Newsletter No. 127
Good afternoon,
Let's jump right in this week and take a look at what’s happening in the oil and gas industry, along with some updates from King.
This Week's Headlines
- Unlock Financial Tips and Energy Market Insights in This Week's The Jay Young Show
- Oil Prices Rise After U.S.-EU Trade Deal and Tight Deadline for Russia
- EU Sanctions Leave Fuel Tankers from Indian Refinery Stranded
- John Hess Joins Chevron Board After FTC Approval
- Baker Hughes Buys Chart Industries for $13.6B in Big Energy Tech Deal
Happening at King
Unlock Financial Tips and Energy Market Insights in This Week's The Jay Young Show
In the latest episode of The Jay Young Show, my co-host Jordan Soto and I talk with financial expert Gabriel Shahin about his new book, How the Rich Get Richer. He shares simple, real-world tips on how wealthy people grow and protect their money. We also break down what’s happening in oil and gas right now—like record U.S. production and Europe investing big in American energy. Whether you’re just starting out or already investing, you’ll get useful info you can actually apply.
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Oil and Gas News
Oil Prices Rise After U.S.-EU Trade Deal and Tight Deadline for Russia
Oil prices went up about 2% after the U.S. and European Union made a trade deal and President Trump gave Russia a shorter deadline—just 10 to 12 days—to stop the war in Ukraine. The deal includes new tariffs and a promise from Europe to buy $750 billion worth of U.S. energy. This helped calm worries about a trade fight and made markets more confident. Experts say the deal is good news for U.S. energy companies and puts more pressure on Russia. At the same time, OPEC+ reminded members to stick to their oil production limits as they consider changes for September.
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EU Sanctions Leave Fuel Tankers from Indian Refinery Stranded
New EU sanctions on Russia are creating serious issues for Nayara Energy, an Indian oil company partly owned by Russia’s big oil company, Rosneft. Several ships loaded with fuel from Nayara are stuck at sea because buyers don’t want to take the risk of dealing with a company linked to Russian oil. One ship has been waiting off Portugal since mid-July, and others are stuck near Malaysia and the Gulf of Oman. Even though the fuel was already paid for, companies are choosing not to accept it. Big companies like BP and Shell are now avoiding fuel from Nayara altogether.
John Hess Joins Chevron Board After FTC Approval
John Hess, former CEO of Hess Corp., has officially joined Chevron’s board of directors following the $53 billion Chevron-Hess merger. The Federal Trade Commission cleared Hess on July 17 to serve on Chevron’s board, lifting a previous antitrust ban. Hess brings decades of industry experience and leadership, including his long tenure at Hess Corp., and also holds board roles at Goldman Sachs and the Center for Strategic and International Studies.
Moves to Watch
Baker Hughes Buys Chart Industries for $13.6B in Big Energy Tech Deal
Baker Hughes is buying Chart Industries for $13.6 billion in cash, combining two big companies in the energy technology space. Chart makes equipment used for handling gas and liquids—especially in industries like LNG, chemicals, and refining. The deal is expected to close by mid-2026 and will help Baker Hughes grow faster, save money, and strengthen its position in energy and industrial tech. This is part of a larger trend of energy companies merging to get bigger and more efficient—like SLB’s recent $7.76 billion deal with ChampionX.
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All the best,
Jay
