Oil plunges below $95 and Dow surges 1,300 in worldwide rally following ceasefire with Iran
The next moves for oil prices will depend on how many oil tankers can start exiting the Strait of Hormuz and how easy their passage is.
Energy & Environment
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IBJ Podcast: Pete the Planner on the chances for recession, plus petrodollars, mortgage rates and TACO trades
Stalled tanker traffic at the Strait of Hormuz has disrupted the global oil market, and stock investors have yo-yoed along with mixed signals from Washington, D.C.
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Energy startup looks to develop first-in-nation nuclear reactor in Indiana
First American Nuclear, a 40-employee startup currently based in Washington, says its Indiana-based Closed-Fuel Cycle Nuclear Energy Park will be designed to reprocess and reuse spent nuclear fuel on-site.
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Madagascar conservationist wins Indianapolis Prize
The Indianapolis Zoological Society Inc. awarded the prize to a scientist and biodiversity conservationist who has discovered several new species and led the establishment of four national protected areas.
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Republic Services opens $180M recycling facility in Indianapolis
The new complex spans two buildings that can separate, grind down and sanitize plastic waste and then shape it into recyclable food-grade containers such as milk jugs or water bottles.
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Articles
Southwest Airlines, once known for its free bags perk, hikes fees amid higher jet fuel costs
The airline now joins a growing list of U.S. carriers that have increased fees since the war in the Middle East began Feb. 28.
Delta joins growing list of airlines raising checked bag fees over fuel costs
The move follows similar announcements from United Airlines and JetBlue, both of which raised baggage fees last week.
Oil prices sink and stock futures jump as US and Iran agree to 2-week ceasefire
President Trump swerved to deescalate the war less than two hours before the deadline he set for Tehran to capitulate to a deal or face attacks meant to destroy Iranian “civilization.”
Braun celebrates ‘landmark’ utility legislation
Indiana Gov. Mike Braun took a victory lap Monday afternoon when he ceremonially signed legislation meant to help Hoosiers cope with high utility bills.
United Airlines raises bag fees amid high fuel costs, introduces tiered premium fares
The average price for a gallon of jet fuel in Chicago, Houston, Los Angeles and New York reached $4.88 on Thursday, up from $2.50 just before the war.
EPA approves sale of higher ethanol fuel to try to lower gas prices
The summer waiver for E15 has become commonplace in recent years, and both Republicans and Democrats have called for it to become year-round and permanent to lower prices at the pump.
‘Big five’ Indiana utilities defend rates in regulator questioning
Indiana regulators on Tuesday spent hours questioning the state’s biggest energy providers on their rates, customer service and more amid rising frustration from ratepayers.
US drivers see gas prices jump to highest level since 2023 as Iran war drags on
In Indiana, average gasoline prices have climbed by more than a $1 per gallon over the past month.
New state law prevents city from fining violators of utility reporting ordinance
Under a new state law, Indianapolis will not be allowed to fine building owners for failing to report utility data as part of a sustainability-focused initiative.
Trump administration allows for Russian oil sales as energy prices soar
The move is an effort to calm markets and stem the economic fallout from the war on Iran, which has sent crude prices spiraling upward.
Central Indiana officials meet for ‘long overdue’ data center discussion
Mayors, city councilors, utility leaders and economic development experts from around central Indiana gathered Wednesday to discuss more coordination involving the boom in data center development.
US to release 172M barrels of oil from Strategic Petroleum Reserve as part of effort to combat prices
President Donald Trump previously downplayed the importance of using reserve oil, but confirmed earlier Wednesday that his administration would “reduce it a little bit” and then fill it back up.
International Energy Agency agrees to record release of emergency oil reserves
The organization said it will make 400 million barrels of oil available from its members’ emergency reserves in a bid to counter the effects on energy markets of the war in the Middle East.
Lasting surge in diesel prices would batter nation’s truckers, farmers
High diesel prices could have wide implications for the economy. Along with trucking, diesel powers the nation’s rail carriers, farm tractors, harvesters and combines.
Oil prices ease and Trump says war will ‘be ended soon’
Oil prices rebounded from nearly $120 per barrel, their highest since 2022, back below $90 on Monday.
Crude oil prices surpass $100 a barrel as Iran war impedes production, shipping
About 20% of the world’s oil is typically shipped every day through the Strait of Hormuz, but the threat of Iranian missile and drone attacks has all but stopped tankers from traveling through the strait.
Trump says deal on data centers will lower electricity prices as tech companies vow to cover costs
The companies committing to the pledge included Google, Microsoft, Meta, Oracle, xAI, OpenAI and Amazon.
Soaring power prices have US politicians searching for solutions
President Trump wants the companies to sign pledges committing to foot the power bill for energy-hungry data centers, which are blamed for driving up electricity costs.
Trump concedes Iran war may push up oil prices for Americans
The conflict — the largest U.S. military action since the invasion of Iraq in 2003 — is pushing oil prices higher and weighing down the stock market.