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The Latest Breaking News from Chris Wright

Strategic oil reserve buying set to support crude demand through 2028

To enhance energy security and stabilize market prices, various governments plan to acquire millions of oil barrels up to 2028. This approach seeks to mitigate the global supply surplus anticipated from OPEC+ production hikes.

The Economic Times

US Energy Dept tells data centers to use backup generators during heatwave to free up power for AC usage

East Coast data centers told to use backup generators to let residents access more grid power to fuel AC amid heatwave.

TechRadar

Energy Secretary Chris Wright Applauds Absolute End For Federal Wind And Solar Subsidies In Massive Green Energy Blow

The US will end core tax credits for new wind and solar projects by 2026, affecting future developments but allowing exceptions for projects already under construction.

International Business Times UK

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Energy Secretary Chris Wright Says Data Center Fears Are 'Overblown'

U.S. Energy Secretary Chris Wright pushed back against growing criticism of data center expansion, calling environmental and job-loss concerns “overblown.”

Benzinga

In Idaho, the next generation of US nuclear reactors nears reality

A new era of nuclear power is dawning in the US, with startups Antares, Aalo Atomics, and Valar Atomics achieving critical milestones in developing small modular reactors. These advanced, compact designs promise faster, cheaper, and more versatile nuclear energy, potentially powering everything from military bases to data centers.

The Economic Times

Climate sceptics cheering as they melt in record temperatures? This heatwave is where satire has come to die

Delegates at an ‘anti-woke’ conference disparaged Ed Miliband’s net zero policies. But even they could not ignore the sweat on their foreheads, says Guardian columnist Jonathan Freedland

The Guardian - UK

America's Nuclear Industry Doesn't Need Cronyism To Thrive

Privately funded nuclear reactors are achieving critical milestones on their own, but the Trump administration wants to prop up a single company.

Reason

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UN Halts Plan To Evacuate Sailors Stranded In Strait Of Hormuz After Iranian Strike Against a Vessel

The UN halted an initiative to evacuate sailors stranded in the Strait of Hormuz after Iran struck a vessel.

International Business Times

Iran Reportedly Estimates It Could Get $40 Billion a Year From Management Of Hormuz Strait

Iran estimates it could make $40 billion a year from managing shipping through the Strait of Hormuz, according to a new report.

International Business Times

Iran Threatens Ships Seeking To Cross Hormuz Strait Without Its Approval: 'Dangerous'

The Iranian revolutionary guard threatened ships seeking to transit through the Strait of Hormuz without coordination with its officials.

International Business Times

Oil falls to pre-war levels on rising Middle East supply

Oil prices have dropped to pre-Iran war levels as increased Middle Eastern supply overshadows demand worries. Flows through the Strait of Hormuz are nearing normalcy, boosting confidence despite ongoing demining efforts. Meanwhile, Iraq is contemplating leaving OPEC due to quota concerns, and Ukraine has targeted Russian oil facilities. These developments…

The Economic Times

Energy Secretary Chris Wright Says U.S. Military Escorts Prevent Iran From Closing Hormuz Strait

Energy Secretary Chris Wright said Iran no longer has the ability to close the Strait of Hormuz.

International Business Times

IndiGo, SpiceJet shares rally up to 4% as crude oil prices fall below pre-war levels after 42% crash

Aviation stocks, including IndiGo and SpiceJet gained after crude oil prices declined sharply as supply concerns eased following progress in the Iran conflict. Lower fuel costs lifted sentiment for airlines, while investors assessed the potential recovery in travel demand and normalisation of global aviation operations.

The Economic Times

Oil Price Today (June 25): Crude oil erases Iran war gains as Hormuz traffic boosts supply. What are experts saying?

Brent crude has slipped below $73 a barrel for the first time since February 27, 2026. It had hit a high of $126 per barrel on April 30 and is down 42% from those levels.

The Economic Times

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The Economic Times

Oil prices fall as tankers exit Strait of Hormuz

Oil prices are dropping significantly as tankers resume passage through the Strait of Hormuz following a preliminary peace accord between the US, Israel, and Iran. This easing of supply concerns has pushed prices towards pre-war levels, surprising many analysts. Despite ongoing demining efforts, the flow of oil is expected to…

International Business Times

S&P 500, Nasdaq Reverse Gains And Drop Again As Rout Continues Among Chipmakers

Stocks were mixed on Wednesday as the S&P 500 and the Nasdaq Composite dropped after reversing earlier gains and the Dow Jones edged higher.

The Economic Times

US announces $17.5 billion in loans for nuclear power supply chain

The U.S. Department of Energy is offering $17.5 billion in conditional loans to bolster the domestic nuclear supply chain, aiming to accelerate the construction of new large-scale reactors. Seven utilities have already expressed interest in these loans, which will support Westinghouse reactors. This initiative seeks to overcome investment hurdles and…

International Business Times

Trump Administration Unveils $17.5 Billion Nuclear Loan Program to Fast-Track 10 New Reactors

The Trump administration announced on Tuesday a sweeping $17.5 billion federal loan initiative to accelerate the construction of 10 large nuclear reactors across the United States.

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The Guardian - UK

Populist and rightwing figures take aim at Ed Miliband and UK net zero policies at ‘anti-woke Davos’

Kemi Badenoch, who joined US anti-abortion activists and European far-right parties at ARC, described energy secretary as a ‘villain’

The Independent UK

Trump administration announces $17.5 billion in loans for 10 new large nuclear reactors

The Trump administration is providing $17.5 billion to speed the development of 10 new large nuclear reactors to meet the skyrocketing power demand from massive data centers

The Guardian - US

Trump faces fresh bipartisan criticism on Iran deal as Vance hails peace talks

Objections come as Trump threatens to renew attacks on Iran if it doesn’t rein in its proxy in Lebanon

AAP

Federal regulators order grid operators to speed power to energy-hungry AI data centers

Federal regulators have ordered regional grid operators to help large energy users connect more quickly to the nation's inefficient and aging electric transmission system

AAP

Federal regulators back Trump's plan to speed power to energy-hungry AI data centers

Federal regulators have agreed to let large energy users connect more quickly to the nation's inefficient and electric transmission system to accommodate surging demand from power-hungry artificial intelligence data centers

AAP

Europe explores energy security alternatives after Iran war's turmoil

The Iran war's impact on global fuel prices has pushed Europe to explore alternative trade and energy routes

The Economic Times

Highly dangerous plutonium offers no quick fix to US nuclear fuel crunch

America is exploring turning surplus plutonium into nuclear fuel for new reactors. This move aims to meet rising power demands, particularly from data centers. However, experts warn of high security costs and potential terrorism risks. Companies involved believe this process can be safe and economically viable, offering an alternative to…

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