Business
World Oil Prices Hold Above $105 as Iran Tensions and Trump-Xi Summit Drive Volatility
NEW YORK — World oil prices remained elevated above $105 per barrel on Thursday, May 14, 2026, as ongoing geopolitical risks in the Middle East, particularly around the Strait of Hormuz, continued to support the market even as investors awaited outcomes from the high-stakes summit between President Donald Trump and Chinese President Xi Jinping in Beijing.
Brent crude, the global benchmark, traded near $105.50 per barrel in early European trading, while West Texas Intermediate (WTI), the U.S. benchmark, hovered around $101 per barrel. Both contracts have stayed in elevated territory throughout 2026, reflecting persistent supply concerns and strong global demand despite economic uncertainties in some regions.
The primary driver remains the effective closure of the Strait of Hormuz, a critical chokepoint through which nearly 20% of global oil supply flows. Since military actions began in late February, shipping traffic has been severely restricted, leading to significant supply disruptions and a sharp drawdown in global inventories. Analysts at S&P Global estimate that inventories have fallen by an average of 8.5 million barrels per day in the second quarter, pushing prices higher and creating a risk premium in the market.
The Trump-Xi summit has added another layer of uncertainty and potential relief. Trump is pressing China, Iran’s largest oil customer, to use its influence to help stabilize energy flows. Any positive developments from Beijing could ease pressure on prices, but analysts caution that a quick resolution to the Hormuz situation remains unlikely. “The market is pricing in prolonged disruption,” said one senior energy trader. “Even optimistic scenarios suggest it will take time for flows to normalize.”
U.S. production has provided some buffer. Domestic output remains near record levels, helping to offset some global tightness. However, OPEC+ members have maintained disciplined production cuts, limiting additional supply to the market. Saudi Arabia and other Gulf producers continue to prioritize price stability over volume in the current environment.
Demand remains robust despite higher prices. Strong economic activity in Asia, particularly in India and parts of Southeast Asia, has supported consumption. China’s stimulus measures have helped stabilize industrial activity, though the country’s overall economic recovery remains uneven. Global oil demand is projected to average around 103 million barrels per day in 2026, according to the International Energy Agency, with transportation fuels and petrochemicals driving growth.
For American consumers, the impact is noticeable at the pump. National average gasoline prices have climbed above $4.00 per gallon in many regions, adding pressure on household budgets ahead of the summer driving season. Refiners have warned that prolonged high crude costs could lead to further increases if inventory levels tighten further.
Energy companies have benefited from the elevated price environment. Major producers have reported strong earnings, with many using the windfall to pay down debt, increase dividends and invest in low-carbon technologies. Oilfield service companies have also seen renewed demand, though the focus remains on efficiency and capital discipline rather than aggressive expansion.
The Trump administration has used the situation to push for increased domestic production and streamlined permitting for energy projects. Officials argue that boosting U.S. output can help stabilize global markets and reduce reliance on foreign supplies. However, environmental groups and some Democrats in Congress have criticized the approach, calling for faster transition to renewable energy sources.
Longer-term forecasts suggest prices could remain elevated through the remainder of 2026. Standard Chartered and other banks project Brent averaging between $100 and $110 per barrel for the year, assuming the Hormuz situation persists into the third quarter. A full resolution could bring prices back toward $80-$90, but most analysts see limited downside risk in the near term.
Investors have responded with caution. Energy stocks have outperformed broader markets in 2026 but remain sensitive to any diplomatic breakthroughs or sudden supply increases. Volatility in oil futures has increased, with traders positioning for potential swings around the Trump-Xi meetings and other geopolitical developments.
The situation also highlights the interconnected nature of global energy markets. Europe, still recovering from earlier energy shocks, has increased imports of U.S. liquefied natural gas and other alternatives. Asia’s reliance on Middle Eastern crude makes it particularly vulnerable to disruptions in the region.
As the Trump-Xi summit continues, any signals regarding Iran or energy cooperation could move markets significantly. For now, the combination of tight supply, strong demand and geopolitical risk keeps oil prices firmly in elevated territory, affecting everything from gasoline prices to inflation expectations worldwide.
The coming days and weeks will be critical in determining whether current levels prove sustainable or if new developments bring relief to consumers and businesses. Until then, the world remains on edge, watching both the oil markets and the diplomatic efforts in Beijing for clues about the path ahead.
Business
Baltimore Ravens Sign QB Diego Pavia After Historic Vanderbilt Season and Playoff Heroics
BALTIMORE — The Baltimore Ravens signed quarterback Diego Pavia on Thursday, adding one of college football’s most electrifying playmakers to their roster following a record-breaking 2025 season at Vanderbilt that saw the former walk-on lead the Commodores to their first SEC Championship Game appearance in program history.
The move, announced by the team via social media and confirmed by multiple league sources, is expected to be a two-year deal worth approximately $4.2 million with incentives, according to a person familiar with the contract. Pavia, who went undrafted in the 2026 NFL Draft despite his standout college career, impressed Ravens coaches during private workouts and a top-30 visit earlier this spring.
“Diego is a winner,” Ravens coach John Harbaugh said in a statement. “He has that rare combination of toughness, creativity and leadership that we value in our quarterback room. We’re excited to add him to the competition and see what he can do in our system.”
Pavia’s journey from overlooked high school prospect to SEC star has captivated football fans nationwide. After beginning his career at New Mexico State as a walk-on, he transferred to Vanderbilt in 2024 and immediately transformed the program. In 2025, he threw for 4,128 yards, 38 touchdowns and just nine interceptions while rushing for 912 yards and 14 scores. His dual-threat ability helped Vanderbilt achieve a 10-3 record and a historic run to the SEC title game, where they fell to Georgia.
The 23-year-old from Bakersfield, California, became known for his fearless style — scrambling out of pressure, making off-platform throws and delivering highlight-reel plays almost weekly. His performance earned him second-team All-SEC honors and finalist consideration for the Heisman Trophy, making him one of the most compelling undrafted free agents in recent memory.
Ravens general manager Eric DeCosta highlighted Pavia’s intangibles. “He’s a proven leader who elevates those around him,” DeCosta said. “In today’s NFL, you need quarterbacks who can create when things break down, and Diego has shown he can do that at a high level.”
Pavia will join a crowded quarterback room in Baltimore that includes Lamar Jackson, who signed a massive contract extension last year, and backup Tyler Huntley. The Ravens have long valued versatile, mobile quarterbacks who can complement Jackson’s unique skill set, and Pavia’s playing style fits that mold. He is expected to compete for the backup role while developing behind one of the league’s most dynamic franchise quarterbacks.
For Vanderbilt fans, the signing represents both pride and loss. Pavia’s departure ends one of the most magical individual stories in recent Commodores history. Head coach Clark Lea called the signing “well-deserved” and praised Pavia’s impact on the program during a press availability Thursday morning.
“Diego changed the culture here,” Lea said. “He showed what’s possible when you combine belief with relentless work ethic. We’re proud of everything he accomplished and excited to watch him compete at the next level.”
Pavia’s college statistics tell only part of the story. Beyond the numbers, he became a locker room leader who helped recruit top talent and inspired a fanbase that had grown accustomed to losing seasons. His famous “Vandy Boys” motto and postgame celebrations became cultural touchstones for the program.
NFL scouts praised Pavia’s football IQ and competitive fire but raised questions about his size (listed at 5-foot-11, 200 pounds) and arm strength in traditional pocket situations. However, his success in structured and improvised plays convinced several teams he could carve out a role as a high-upside backup or eventual starter.
The Ravens’ interest in mobile quarterbacks is well-documented. They have developed several dual-threat signal-callers in recent years, and offensive coordinator Todd Monken’s scheme emphasizes creativity and pre-snap motion — areas where Pavia excels. Monken is expected to work closely with the young quarterback on refining his footwork and progressing through reads more quickly.
Pavia becomes the latest in a growing list of undrafted quarterbacks finding opportunities with contending teams. His story echoes those of players like Brock Purdy and Gardner Minshew, who turned late or undrafted status into successful NFL careers through hard work and opportunity.
Reaction from the NFL community has been largely positive. Former Vanderbilt and current NFL players congratulated Pavia on social media, while analysts praised the Ravens for adding depth without sacrificing significant draft capital. Fantasy football enthusiasts have already begun speculating about Pavia’s potential role in Baltimore’s offense, especially in gadget plays and red-zone packages.
For Baltimore fans, the signing adds another intriguing piece to a roster built for contention. The Ravens reached the AFC Championship Game in 2025 but fell short of the Super Bowl. Adding another mobile threat behind Jackson provides insurance and strategic flexibility, particularly in packages designed to keep defenses guessing.
Pavia is expected to report to the team’s facilities in the coming weeks to begin offseason workouts. He will wear No. 12, a number he made famous at Vanderbilt, after receiving approval from veteran quarterback Trace McSorley, who previously wore it with the Ravens.
As the NFL offseason continues, Pavia’s move to Baltimore represents another chapter in an unlikely success story. From walk-on at New Mexico State to SEC standout to NFL signee, his journey embodies perseverance and the power of opportunity. For the Ravens, it represents another calculated step toward building sustained excellence at the game’s most important position.
Whether Pavia develops into a reliable backup or emerges as something more remains to be seen. For now, the former Commodore has earned his shot in the league — and Baltimore may have found a hidden gem in one of the most intriguing undrafted signings of 2026.
Business
Vedanta, Hindalco, other metal stocks rally up to 11% in one week. Should you buy or wait? Here’s what analysts say
The sharp rally in metal stocks was driven by multiple tailwinds. Gold and silver saw their prices soar after the government increased import duty on the precious metals to 15%, in order to stop rupee’s free fall and moderate non-essential imports during a period of heightened global uncertainty linked to the Iran-US conflict.
Additionally, US President Donald Trump’s visit to China after years of escalating geopolitical friction between the world’s two largest economies may have also supported the bulls in the metals counter. Strong earnings further boosted the market sentiment.
‘Accumulate metal stocks on dip’
The metal stocks have rallied sharply, capturing the positive momentum, said Aditya Welekar, Senior Research Analyst of Metals at Axis Direct. He said investors can consider accumulating the stocks at any pullback. “Non-ferrous metals such as aluminium and copper are finding support from supply disruptions and strong industrial demand from China. Sulphuric acid supply issue has supported copper prices. Aluminium smelters in the gulf form 9% of global supply. With around 3 million tonnes of supply in that region being impacted, aluminium prices are trading at elevated levels of $3,500/t. Steel prices are driven by strong domestic demand,” he explained.
Amarjeet Maurya, Deputy VP of Fundamental Research at Kotak Securities, highlighted that several metal stocks have delivered strong returns even as Nifty 50 corrected over 5% in the past one year. Shares of Hindustan Copper rallied over 161%, while those of Hindalco Industries jumped 70%, Hindustan Zinc rallied 52%, and more.
“Investors can consider buying at current levels, and any further correction or dip may provide an opportunity to accumulate more for the long term,” he said, adding that the medium-term outlook for the metals and mining sector remains positive, supported by strong fundamentals across steel and aluminum.
The metal space continues to offer selective opportunities, particularly in companies linked to commodities witnessing strong price momentum, said Sunny Agrawal – Head of Fundamental Research at SBI Securities.
Why shouldn’t investors chase the metals momentum blindly?
Vaqarjaved Khan, Senior Fundamental analyst at Angel One noted that the metal stocks have already seen a sharp rerating, so this is not the kind of market where investors should rush in blindly.
Among metal stocks, Amarjeet Maurya from Kotak Securities remains positive on JSW Steel and Jindal Steel from a long-term perspective. “Investors can consider buying at current levels, and any further correction or dip may provide an opportunity to accumulate more for the long term,” he said.
“After a strong rally, the risk-reward often improves only when the stock cools off and gives a better entry point. My preference would be to wait for a meaningful dip rather than chase momentum at elevated levels, because metal counters are highly cyclical and can correct quickly if global prices, demand trends, or margins soften,” according to the analyst.
Which metal stock should you buy?
However, if Khan had to choose one metal stock for a patient investor, then Tata Street would be his first pick because it offers scale, liquidity, and a relatively balanced way to participate in the cycle. “JSW Steel is also attractive for those willing to pay up for quality, while the smaller names can be far more volatile,” he added.
Sunny Agrawal from SBI Securities meanwhile said that the markets are seeing a sharp uptick in zinc and silver prices, which is positive for players such as Hindustan Zinc. Investors looking to capitalize on this move may consider adding the stock to portfolios with appropriate stop losses, as it has the potential to deliver nearly 8–10% short-term upside.
“Within steel, finished product prices have seen a meaningful rise over the last three to four months, creating a favourable earnings environment for companies like Tata Steel and SAIL,” he said, adding that copper is another segment drawing attention, with global prices hovering near multi-year highs of around $14,000 per tonne. “In the Indian market, Hindustan Copper remains one of the key listed plays. While valuations appear somewhat elevated, the ongoing strength in copper prices could continue to support the stock, with a potential upside of 8–10% in the near term, subject to disciplined stop-loss levels,” he explained.
Agrawal highlighted that investors must remember that metals remain cyclical in nature. Any correction in underlying commodity prices could lead to sharp pullbacks in these stocks, making risk management and strict stop-loss adherence critical, he added.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Business
Oil Price Today (May 15): Crude oil above $105 as Iran war resolution stagnates. Where is liquid gold headed?
Markets were also watching closely as U.S. President Donald Trump and Chinese President Xi Jinping entered the second day of talks in Beijing.
Crude oil price on May 15
Brent crude futures rose 60 cents, or 0.57%, to $106.32 a barrel by 0100 GMT. U.S. West Texas Intermediate crude futures gained 54 cents, or 0.53%, to $101.71 a barrel.Trump and Xi are expected to meet again on Friday as the two-day state visit concludes. U.S. Trade Representative Jamieson Greer said China was being “very pragmatic” regarding Iran and noted that keeping the Strait of Hormuz open remained important for Beijing. Speaking to Bloomberg, Greer said uninterrupted movement through the route was a key concern for China.
Geopolitical tensions, however, remained elevated. In a Truth Social post early Friday, Trump said “the military decimation of Iran (to be continued!).” He also expressed hope that ties with China would emerge “stronger and better than ever before!”
The ongoing conflict has significantly tightened global oil supplies, with the International Energy Agency warning this week that the market may stay “severely undersupplied” until October even if hostilities end next month. U.S. inflation data released earlier this week also pointed to renewed price pressures linked to the conflict, adding to political challenges for Trump ahead of the November midterm elections.
Meanwhile, a U.S. naval blockade around Iranian ports remains active, and shipping conditions in the region continue to be risky. A commercial vessel was reportedly seized by unauthorized personnel near the entrance to the Strait of Hormuz before being taken into Iranian waters, on Thursday.
While a ceasefire has formally been in place since early April despite repeated flare-ups, there appears to be little progress between Washington and Tehran toward a lasting resolution. Trump recently said the truce was on “massive life support” and criticised Iran’s response to his proposal to end the conflict.
Analysts at Morgan Stanley said the global oil market is now in “a race against time,” warning that the factors limiting a sharper rise in crude prices may weaken if the Strait of Hormuz stays shut into June.
Despite disruptions impacting nearly 1 billion barrels of oil supply, crude prices are still below the highs reached in 2022 after Russia’s invasion of Ukraine. Analysts led by Martijn Rats said the market entered the current crisis with stronger supply buffers, while investors largely continue to believe the strait will eventually reopen.
Morgan Stanley added that higher U.S. crude exports and softer Chinese imports have so far helped shield the market from a deeper supply shock. However, the brokerage warned that a prolonged closure of Hormuz could once again tighten global supplies if disruptions continue beyond what either China or the United States can manage comfortably.
Haitong Futures said markets remain cautious and warned the ceasefire may only be temporary. The brokerage added that stalled negotiations between Washington and Tehran could trigger another escalation, pushing oil prices even higher.
Saudi Aramco CEO Amin Nasser said on Monday that disruptions to shipments through Hormuz could delay stability returning to oil markets until 2027, potentially affecting around 100 million barrels of oil supply every week.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Business
Yindjibarndi-Fortescue verdict furthers native title case law
The long-running court battle between the Yindjibarndi people, Fortescue and WA government has been a case watched keenly by Australia’s resources, native title and legal professions.
Business
Restoration Planning Tips for Buying an Old Home
Older homes possess a distinctive charm that continues to captivate buyers across the property market. Character features, architectural individuality, and historical ambience often create a sense of warmth and authenticity that modern developments struggle to replicate.
However, purchasing an older property also introduces significant responsibilities. Restoration projects require careful planning, financial discipline, and realistic expectations. Property professionals, including experienced local agents such as Hunters ashford estate agents, frequently advise buyers that successful restoration begins long before renovation work actually starts. Thorough preparation is often the difference between a rewarding transformation and an overwhelming financial burden.
Understanding the Condition of an Older Property
One of the first priorities when purchasing an older home is obtaining a comprehensive understanding of its condition. Superficial appearance alone rarely reveals the full extent of potential issues hidden beneath floors, behind walls, or within structural elements.
Detailed building surveys are therefore essential. Older properties may contain problems such as subsidence, timber decay, roof deterioration, damp penetration, or outdated construction methods that require specialist attention.
A professional survey provides clarity regarding both immediate repair requirements and future maintenance considerations. This information is invaluable when assessing whether the restoration project remains financially and practically viable.
Setting a Realistic Restoration Budget
Restoration projects frequently cost more than buyers initially anticipate. While cosmetic improvements are relatively straightforward to estimate, structural repairs and hidden defects can significantly increase expenditure.
Creating a detailed and realistic budget is therefore crucial from the outset. Buyers should account not only for renovation costs but also professional fees, permits, temporary accommodation, contingency reserves, and rising material prices.
Including a contingency fund is particularly important. Unexpected discoveries during restoration are extremely common in older homes, and financial flexibility helps prevent delays or compromised workmanship later in the project.
Prioritising Structural Repairs First
Structural integrity should always take precedence over cosmetic improvements. While decorative upgrades may feel more immediately rewarding, unresolved structural issues can undermine the entire property if neglected.
Roof repairs, foundation stabilisation, damp treatment, and drainage improvements should therefore be addressed early within the restoration process. These elements protect the building itself and create a stable foundation for all subsequent renovation work.
Attempting aesthetic improvements before resolving structural concerns often leads to duplicated costs and unnecessary disruption later.
Researching Planning Permission and Regulations
Older homes, particularly listed buildings or properties within conservation areas, may be subject to strict planning regulations. These restrictions often exist to preserve architectural heritage and maintain historical integrity.
Before beginning restoration work, buyers should thoroughly investigate local planning requirements and obtain any necessary permissions. Certain modifications, including window replacements, extensions, or structural alterations, may require specialist approval.
Failure to comply with planning regulations can result in enforcement action, financial penalties, or costly remedial work. Understanding these obligations early prevents complications during the restoration process.
Preserving Original Character Features
One of the greatest appeals of older homes lies in their original architectural features. Fireplaces, exposed beams, sash windows, decorative cornicing, and traditional flooring contribute significantly to character and value.
Whenever possible, restoration should aim to preserve these elements rather than replace them entirely. Authentic restoration often enhances both aesthetic appeal and long term market desirability.
Balancing preservation with practicality is important, however. Some original features may require discreet modernisation to meet contemporary living standards while retaining historical authenticity.
Upgrading Essential Systems
Older properties frequently contain outdated infrastructure that requires substantial modernisation. Plumbing systems, electrical wiring, heating installations, and insulation standards may no longer meet modern safety or efficiency expectations.
Upgrading these systems is essential for both comfort and regulatory compliance. Modern electrical systems improve safety, while efficient heating and insulation significantly reduce long term running costs.
Careful planning ensures that these upgrades integrate sympathetically within the property’s original design rather than compromising its historical character.
Finding the Right Contractors and Specialists
Restoration work requires specialised expertise. Builders experienced primarily in modern construction may lack the technical understanding necessary for heritage properties and traditional building methods.
Selecting contractors with proven restoration experience is therefore critical. Buyers should review previous projects, request references, and verify relevant qualifications before appointing specialists.
Communication is equally important. Restoration projects often evolve as hidden issues emerge, making transparency and adaptability essential qualities within the contractor relationship.
Managing Restoration Timelines Effectively
Restoration projects frequently take longer than initially expected. Delays may arise from material shortages, weather conditions, planning approvals, or unforeseen structural discoveries.
Creating a phased renovation schedule helps maintain organisation and prioritise essential work logically. Structural repairs, infrastructure upgrades, and weatherproofing should generally occur before cosmetic improvements begin.
Realistic timelines reduce frustration and allow for more controlled financial management throughout the project.
Combining Modern Living with Historic Charm
Many successful restorations achieve a balance between traditional character and modern functionality. Buyers increasingly seek homes that retain period charm while accommodating contemporary lifestyles.
Open-plan kitchen extensions, discreet smart-home technology, and energy-efficient improvements can coexist harmoniously within older properties when designed thoughtfully.
The key lies in respecting the architectural identity of the home while enhancing usability. Poorly integrated modernisation can diminish both aesthetic coherence and long term value.
Understanding Long Term Maintenance Requirements
Older homes generally require more ongoing maintenance than newer properties. Traditional materials and ageing structures demand regular attention to prevent deterioration.
Routine inspections, preventative repairs, and careful upkeep are therefore essential aspects of ownership. Maintaining roofs, gutters, timber elements, and ventilation systems helps preserve structural integrity and reduce larger repair costs later.
Prospective buyers should approach restoration not as a one-time project but as an ongoing stewardship responsibility.
Restoration as a Long Term Investment
Restoring an older home can provide both emotional satisfaction and long term financial benefits. Well-executed restorations often enhance market value significantly, particularly where original character has been preserved successfully.
However, the rewards extend beyond financial return alone. Many homeowners value the opportunity to preserve architectural heritage and create uniquely personal living spaces.
Patience, planning, and attention to detail are central to successful restoration. Buyers who approach the process strategically are often rewarded with homes that combine historical richness, modern comfort, and enduring market appeal.
Buying and restoring an older home is both a challenge and an opportunity. While restoration projects require careful financial planning, specialist expertise, and ongoing commitment, they also offer the chance to preserve architectural character and create highly distinctive living environments. By prioritising structural integrity, respecting original features, and planning renovations strategically, buyers can transform ageing properties into valuable and deeply rewarding long term homes.
Business
CVD Equipment Corporation (CVV) Q1 2026 Earnings Call Transcript
Operator
Good afternoon, and welcome to the CVD Equipment Corporation First Quarter 2026 Earnings Conference Call. As a reminder, today’s call is being recorded. We will begin with prepared remarks followed by a question-and-answer session. Presenting on today’s call are Emmanuel Lakios, President and Chief Executive Officer; and Richard Catalano, Executive Vice President and Chief Financial Officer. Our earnings press release and information about today’s call replay are available in the Investor Relations section of our website at cvdequipment.com.
Before we begin, please note that the comments made during this call may include forward-looking statements, including statements regarding our future financial performance, market growth, product demand, business outlook and strategic initiatives. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. For a discussion of these risks, please refer to our filings with the Securities and Exchange Commission, including the Risk Factors section of our annual report on Form 10-K for the year ended December 31, 2025. We undertake no obligation to update any forward-looking statements, except as required by law.
With that, I will now turn the call over to Emmanuel Lakios, President and Chief Executive Officer.
Emmanuel Lakios
President, CEO & Director
Thank you, operator, and good afternoon, everyone. We appreciate you joining us today to review our first quarter 2026 financial results and to provide an update on our business and strategic initiatives. Following our prepared remarks, we’ll be happy to take your questions. As previously disclosed, in response to continued volatility in our order rates and a recent
Business
Sebi proposes key tweaks to streamline derivatives trading
The regulator has proposed to delete the close-to-money (CTM) option series and the corresponding norms for option in goods in case of commodity derivatives.
“There is no concept of CTM on leading international commodity exchanges because the concept of CTM makes the exercise mechanism complex for the trade participants, and they might find it difficult to actually look into the intrinsic costs associated with the CTM options. Since OTM (out of the money) and ITM (in the money) are relatively easy to understand and execute, most of the exchanges offer these two options to market participants,” Sebi said in a discussion paper on Thursday.
The regulator said CTM option introduces uncertainty and price risk for the seller, while the challenge for buyers are that for option in goods, the number of strikers on which margin is imposed increases significantly compared to option in futures.
Sebi has suggested reducing the minimum mandatory product advisory committee (PAC) meeting frequency for non-agricultural commodities from two meetings annually to one meeting a year.
The regulator said exchanges would be permitted to advance the expiry date of running contracts during sudden disruptions such as strikes, festivals or erratic weather conditions with prior approval from the managing director of the exchange, instead of following the current requirement of giving 10 days notice and obtaining PAC approvals.
Business
India’s crude oil stocks drop 15% amid Iran conflict, raising supply concerns
Sustained supply constraints could eventually force refiners to cut runs or pull back on crude processing-a factor analysts say may partly explain Prime Minister Narendra Modi’s latest call for fuel conservation. India’s crude stocks are currently at 91 million barrels, slipping from 107 million barrels at the end of February, according to Kpler’s inventory data, which includes strategic petroleum reserves (SPR), commercial inventories, and refinery stocks. The estimates exclude pipeline stocks.
India consumes about 5 million barrels of oil a day, allowing current inventories to cover about 18 days of demand. The current crude stocks can feed up to 60 days of national consumption, the government said Monday, without elaborating. The stock estimate includes cargoes loaded on India-bound ships, said Sujata Sharma, joint secretary in the petroleum ministry on Thursday.
AgenciesModerate Drawdown
It also includes pipeline stocks.
India’s crude imports averaged 4.5 million barrels per day (mbd) in the past two and a half months, declining from the pre-war level of 5 mbd, said Nikhil Dubey, lead analyst, refining, at Kpler. “However, refinery run rates have not declined proportionally with the drop in imports, suggesting that part of the supply gap is currently being met through inventory drawdowns, most likely from refinery storage tanks.”
The current drawdown in inventories is “moderate”, said Dubey.
The drawdown could have been larger had Nayara Energy not undertaken a maintenance shutdown at its 400,000 barrels-per-day refinery in Gujarat in April, according to an industry executive.
“With near-term prospects for a reopening (of the Strait of Hormuz) appearing increasingly uncertain, India cannot continue relying on inventory drawdowns indefinitely,” said Dubey.
He warned that refineries may eventually need to reduce run rates in line with lower oil supplies. “This could also explain why the Prime Minister has recently called for fuel conservation efforts,” he said.
Global oil inventories fell by 129 million barrels in March, and by a further 117 million barrels in April, according to the International Energy Agency (IEA). “With global oil inventories already drawing at a record clip, further price volatility appears likely ahead of the peak summer demand period,” the IEA warned Wednesday.
The near closure of the Strait of Hormuz has cut oil output from the Gulf by 14.4 mbd below pre-war levels. This has severely hit global oil supply, which declined by a further 1.8 mbd in April to 95.1 mbd, taking total losses since February to 12.8 mbd.
Saudi Arabia and the UAE-possessing alternative export routes-continued shipments, while Iraq and Kuwait-which depend entirely on the Strait of Hormuz -have been unable to export any volumes.
Business
Earnings call transcript: Precigen beats Q1 2026 forecasts, stock surges

Earnings call transcript: Precigen beats Q1 2026 forecasts, stock surges
Business
Scaling Global Business Operations with Programmatic Content Generation
Implementing the Wan 2.7 Video API ecosystem represents a fundamental shift in how modern enterprises approach media production.
Traditional reliance on bespoke, manually edited content often creates a bottleneck for organizations attempting to maintain a consistent presence across diverse international markets. By transitioning to an engineering-led model, businesses can transform video assets into scalable components of their digital infrastructure, ensuring that high-fidelity storytelling is driven by the stability and logic of a robust API framework rather than limited creative capacity.
Leveraging the Alibaba Wan 2.7 Video API for International Market Expansion
Expanding into new territories requires more than just language translation; it demands a high volume of localized visual content that resonates with regional audiences. Utilizing a suite of specialized interfaces allows global teams to automate this process while maintaining professional standards.
Market Localization with Wan 2.7 Text-to-Video API
Generating region-specific backgrounds and cultural contexts without the logistical burden of local film crews is now a technical reality. The Wan 2.7 Text-to-Video API facilitates this by allowing designers to create bespoke visual environments through structured prompts. A critical feature of this interface is its advanced reasoning phase, often referred to as Thinking Mode. Unlike standard generative systems, the Alibaba Wan 2.7 Video API performs a logical analysis of the scene requirements before the synthesis of pixels begins. This ensures that movement, spatial relationships, and lighting remain consistent across different clips, providing the logical coherence necessary for professional business communications.
Asset Modernization via Wan 2.7 Image to Video API
The modernization of existing corporate libraries is another area where programmatic solutions offer significant ROI. By using the Wan 2.7 Image to Video API, companies can convert high-resolution product catalogs and static brand assets into cinematic promotional loops. This process is highly controlled to ensure that intricate product details, corporate color palettes, and brand-specific textures remain sharp and undistorted during the animation phase. This allows marketing teams to breathe new life into their static portfolios, creating dynamic social and web assets that maintain strict brand integrity.
Agile Marketing Revisions through Wan 2.7 Edit Video API
Responsiveness to market feedback is essential for maintaining a competitive edge. The Wan 2.7 Edit Video API allows for iterative tuning of existing assets through simple natural language instructions. Instead of a full re-production cycle, a team can issue a command to the API to update the style, lighting, or background of a corporate video to reflect a new seasonal aesthetic or local trend. This instruction-based editing functions as a visual patch, reducing the technical debt associated with video revisions and ensuring that the organization can pivot its visual narrative with minimal friction.
Subject Consistency with Wan 2.7 Reference To Video API
Protecting brand identity is often the primary concern when adopting generative technologies. The Wan 2.7 Reference To Video API addresses the challenge of subject drift through its 3×3 multi-reference grid architecture. This allows the API to ingest structural data of a specific brand mascot, proprietary hardware design, or spokesperson from multiple angles simultaneously. By locking these visual characteristics into the generative workflow, the API guarantees that the core subject remains visually identical across diverse sequences. This level of multimodal consistency is vital for maintaining a professional global presence and ensuring that programmatically generated content remains unmistakably on-brand.
Integrating the Wan AI API Suite into Enterprise Tech Stacks via Kie.ai
The success of a programmatic content strategy depends heavily on the reliability of the underlying infrastructure. Accessing these advanced generative capabilities through Kie.ai provides the professional-grade environment required for stable, high-throughput delivery across a global organization.
Scalable Infrastructure and High-Volume Delivery
Integrating the wan ai api into a corporate tech stack necessitates a gateway capable of handling significant request volumes with high stability. Kie.ai serves as this technical foundation, providing the managed infrastructure needed to manage complex task queuing and rendering processes at scale. This allows development teams to focus on the strategic application of the API rather than the maintenance of high-performance rendering nodes. For large-scale campaigns, this elastic architecture ensures that content production can expand or contract based on real-time business needs.
Optimizing Unit Economics for Global Campaigns
Managing the cost of content production is a priority for every business leader. Utilizing professional gateways like Kie.ai allows organizations to achieve predictable unit economics for their video assets. By leveraging high-concurrency access and optimized task management, teams can reduce the effective cost-per-second of high-fidelity rendering. Furthermore, best practices in JSON request optimization ensure that assets are generated with maximum efficiency, prioritizing visual fidelity where it matters most for corporate and social platforms. This data-driven approach to production makes high-end motion a sustainable part of the enterprise marketing budget.
Future-Proofing Corporate Operations with Wan AI API
Transitioning from human-centric content creation to automated, generative pipelines is a strategic move that enhances corporate agility and competitiveness. The implementation of the Alibaba Wan 2.7 Video API provides a measurable framework for scaling visual storytelling without the exponential growth in overhead typically associated with video production. As the digital economy continues to prioritize high-frequency, high-fidelity visual engagement, the ability to generate assets programmatically becomes a core competency for any growing brand. Ultimately, integrating the Wan 2.7 AI Video Generator API suite via Kie.ai empowers global businesses to meet the evolving demands of their international audiences with precision, speed, and uncompromising quality.
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