Total energy production in the US increased to a new record of 107 quadrillion British thermal units (quads) in 2025, a 3.4 per cent increase from the previous record set in 2024, according to new data in the US Energy Information Administration (EIA) Monthly Energy Review.
A Reuters survey showed that oil output Opec fell to a more than 20-year low in April, dropping 830,000 barrels per day to 20.04 million bpd as Strait of Hormuz disruptions linked to the US-Israeli conflict with Iran hit exports.
Specialised co-sourcing is gaining traction in the travel industry amid cost, talent, and geopolitical pressures. According to 24/7 Travel Partner Desk, it can cut operational costs by 40–50%, and up to 70% in high-cost markets like the US and Northern Europe.
Royal Jordanian launched direct Amman–Dallas flights from May 10, operating four weekly Boeing Dreamliner services. Dallas becomes the airline’s fifth US destination, joining Washington, Chicago, New York and Detroit, strengthening connectivity between the Middle East and North America.
It would take months for jet fuel supply to recover even if the he Strait of Hormuz reopens, given disruptions to Middle East refining capacity, said Willie Walsh, Director General of the International Air Transport Association (IATA).
US President Donald Trump has hailed the ceasefire agreement between the US and Iran as a big day for world peace and said there is an opportunity to make big money.
The US-Iran face-off is the single biggest variable across every asset class - from oil to equities - meaning investors should be bracing for a volatile few days ahead, said an expert. Oil remains at the centre of every market move right now with both crude and brent up over 80% YTD.
The US military conducted strikes on military targets on Iran’s Kharg Island, the Axios news outlet reports, citing an unidentified senior US official. Several blasts have been reported on the Island, a vital oil export terminal for the country, stated Iranian media, adding a rail bridge has been struck in central Iranian city.
Iran said on Monday it wanted a lasting end to the war with the US and Israel, and pushed back against pressure to swiftly reopen the Strait of Hormuz under a temporary ceasefire as US President Donald Trump warned the country could be "taken out" if it did not meet his Tuesday night deadline to reach a deal.
A missing US service member whose F-15 jet was shot down over Iran has been rescued by US forces in an operation that involved “dozens of aircraft,” President Donald Trump said.
