From 'dumb pipes' to 'techcos'
Some lingo that has gathered steam in the telco industry for the last couple of years is the phrase "techco," a portmanteau of the words "telco" and "tech."
The term refers to the idea of a telco firm that operates more like a tech company — one that invests in cutting-edge technology and offers digital services to consumers to help them make money from the significant capital expenditures they've allocated to upgrading their wireless networks.
For two decades, tech giants such as Meta, Google, Amazon, Apple, Microsoft and Netflix have flourished in a world where content can be delivered directly to people's devices, consumers can communicate seamlessly with one another, and data can be stored or streamed online without having to own cumbersome infrastructure — all thanks to innovations like the internet, smartphones and the cloud.
However, these innovations have disrupted telecom firms' business models, to the point where they're now often perceived as legacy players that are only there to lay down the cables and other network infrastructure that enable internet connectivity.
It's a dilemma that's earned telco brands the pejorative term "dumb pipes."
"I remember early in the industry, even before mobile internet when SMS used to be the killer app," Hatem Dowidar, CEO of UAE state-owned telecom company e&, said in a keynote speech at MWC. "We used to make messaging revenue. We used to make voice revenue."
"All this over the years got disrupted by over-the-top players, to the point that today, a lot of telcos around the world are reduced to being a pipe of packets just getting data across the networks," Dowidar added. "And competition is not staying still. They have the scale, they have the investment to go and disrupt even further."
Telcos embrace AI
Ryu Young-sang, CEO of SK Telecom, told CNBC's Arjun Kharpal that the South Korean telecoms giant has looked to AI technology to help it improve the efficiency of its wireless network — something that was consistently on display at numerous telco operators' booths at MWC.
Commonwealth Fusion Systems, a startup born out of MIT, has raised the most money, nearly $2 billion from the likes of Bill Gates, Jeff Bezos and Google.
Washington-based Helion has raised $1 billion from investors like Open AI's Sam Altman and a highly ambitious deal with Microsoft to deliver fusion power to the grid by 2028. Google-backed TAE Technologies has raised $1.2 billion.
"Whoever has essentially abundant limitless energy … can impact everything you think of," said Michl Binderbauer, CEO of TAE Technologies. "That is a scary thought if that's in the wrong hands."
When it comes to public funding, China is way ahead.
China's existing national tokamak project, EAST, has been setting records, volleying with France's project WEST in the last couple months for the longest ever containment of plasma inside a reactor, although that's a less monumental milestone than net positive energy.
Another huge state-funded Chinese project, CRAFT, is set to reach completion this year. The $700 million 100-acre fusion campus in eastern China will also have a new tokamak called BEST that is expected to be finished in 2027.
China's CRAFT appears to follow a U.S. plan published by hundreds of scientists in 2020, Holland said.
"Congress has not done anything to spend the money to put this into action," he said. "We published this thing, and the Chinese then went and built it."
"That sounds a little scary, but on the other hand, what that means for founders is that you don't need a team of 50 or 100 engineers," said Tan, adding that companies are reaching as much as $10 million in revenue with teams of less than 10 people. "You don't have to raise as much. The capital goes much longer."
The growth-at-all-costs mindset of Silicon Valley during the zero-interest-rate era has gone "out the window," said Tan, pointing to a renewed focus on profitability. That focus on the bottom line also applies to megacap tech companies. Google, Meta and Amazon have gone through multiple rounds of layoffs and pulled back on hiring.
While that's shaken some engineers, Tan described it as an opportunity.
Hassabis isn't alone in suggesting that it'll take a while for AGI to appear. Last year, the CEO of Chinese tech giant Baidu Robin Li said he sees AGI is "more than 10 years away," pushing back on excitable predictions from some of his peers about this breakthrough taking place in a much shorter timeframe.
Some time to go yet
Hassabis' forecast pushes the timeline to reach AGI some way back compared to what his industry peers have been sketching out.
Dario Amodei, CEO of AI startup Anthropic, told CNBC at the World Economic Forum in Davos, Switzerland in January that he sees a form of AI that's "better than almost all humans at almost all tasks" emerging in the "next two or three years."
While it's been possible to develop systems that can break down problems and complete tasks autonomously in the realm of games — such as the complex strategy board game Go — bringing such a technology into the real world is proving harder.
"The question is, how fast can we generalize the planning ideas and agentic kind of behaviors, planning and reasoning, and then generalize that over to working in the real world, on top of things like world models — models that are able to understand the world around us," Hassabis said."
"And I think we've made good progress with the world models over the last couple of years," he added. "So now the question is, what's the best way to combine that with these planning algorithms?"
A pair of U.S. astronauts stuck for more than nine months on the International Space Station will be returned to Earth on Tuesday evening, NASA said.
Butch Wilmore and Suni Williams are to be transported home with another American astronaut and a Russian cosmonaut aboard a SpaceX Crew Dragon craft, after a replacement crew arrived at the ISS early Sunday.
The stranded duo have been on the ISS since June after the Boeing Starliner spacecraft they were testing on its maiden crewed voyage suffered propulsion issues and was deemed unfit to fly them back to Earth.
NASA said in a statement on Sunday evening that it had moved forward the astronauts' anticipated ocean splashdown off the Florida coast to approximately 5:57 pm Tuesday. It was initially slated for no sooner than Wednesday.
Another Texas company, Intuitive Machines, ended up sideways in a crater near the moon's south pole earlier this month, dooming the mission. It was the second incomplete mission for Intuitive Machines. Its first lander put the U.S. back on the moon last year for the first time since the Apollo era after a less-than-perfect landing that hampered communications.
Firefly is already working on its next lunar lander and striving for one moon landing a year.
Ivan Hansen, a retired Danish police officer, loaded up his basket at the supermarket, carefully checking each product to avoid buying anything made in the United States. No more Coca-Cola, no more California Zinfandel wine or almonds.
The 67-year-old said it's the only way he knows to protest U.S. President Donald Trump's policies. He's furious about Trump's threat to seize the Danish territory of Greenland, but it's not just that. There are also the threats to take control of the Panama Canal and Gaza. And Trump's relationship with Elon Musk, who has far-right ties and made what many interpreted as a straight-armed Nazi salute.
“Drink more champagne,” one user posted after Trump threatened 200% tariffs on EU wine and Champagne.
Albertus, a school principal, told the AP he really misses the strong taste of Colgate. But he's been pleasantly surprised at finding a cola replacement that is half the price of Pepsi.
Trump's policies have “brought the Danish Viking blood boiling,” said Jens Olsen, an electrician and carpenter. He is now considering replacing $10,000 worth of U.S.-made DeWalt power tools even though it will cost him a lot.
He has already found European replacements for an American popcorn brand and California-made Lagunitas IPA beer, which he calls “the best in the world.”
“The man is deadly dangerous and is already costing lives” in the developing world and Ukraine, added Stæhr, who works helping disabled war veterans, many of whom got injured serving alongside U.S. troops in the Balkans, Iraq and Afghanistan. He himself served in Bosnia.
Edouard Roussez, a farmer from northern France, launched an online group, “Boycott USA, Buy French and European!” that in just two weeks has attracted over 20,000 members on Facebook.
Roussez believes a boycott of U.S. companies is a good way to express opposition to Trump’s policies, especially “the commercial and ideological war” he believes Trump is waging against Europe.
“First of all, these are the companies that financed Donald Trump’s campaign,” he said on state-owned LCP television channel. “I’m thinking of Airbnb, I’m thinking of Uber, I’m thinking of Tesla of course.”
Judge Cancels Hearing on R.I. Doctor Deported to Lebanon
A federal judge in Massachusetts canceled a hearing regarding a Rhode Island transplant surgeon and Brown University assistant professor deported Friday over her alleged support for Iranian-backed Hezbollah terrorists and Iran Supreme Leader Ayatollah Ali Khamenei.
U.S. District Judge Leo Sorokin, a Barack Obama appointee, canceled the hearing regarding the deportation Friday of Dr. Rasha Alawieh, a Lebanese national in the U.S. on an H-1B work visa, after most of the attorneys associated with the plaintiff withdrew from the case, WFXT-TV in Boston reported.
Sorokin ordered Friday that Alawieh be kept in the U.S. and brought to a court hearing Monday, but he wrote Monday morning that "Dr. Alawieh is now in Lebanon," CBS News reported.
Sorokin is giving the government a week to provide the court with more information. Yara Chehab, who filed the habeas corpus petition on behalf of her cousin, alleged customs officials "willfully" disobeyed Sorokin's order, will have until March 31 to respond to the government's request to dismiss the petition, according to WFXT.
The Department of Homeland Security told CBS News on Monday that Alawieh told CBP officers that she traveled to Beirut to attend the Feb. 23 funeral of Hezbollah leader Hassan Nasrallah, who was killed after an Israeli airstrike in September.
"A visa is a privilege not a right — glorifying and supporting terrorists who kill Americans is grounds for visa issuance to be denied," the DHS said. "This is common sense security."
GSCI increased 6.28 points or 1.14% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, GSCI Commodity Index reached an all time high of 1718.63 in July of 2008.
WTI crude oil futures rose to around $67.8 per barrel on Monday, extending gains from the previous session, after top oil importer China promised new measures to boost consumption, and the U.S. ordered attacks on Yemen's Houthis. Beijing on Sunday unveiled plan on special initiatives to revive consumption, including raising people's incomes and establishing a childcare subsidy scheme. China’s better-than-expected economic data released on Monday also pointed to the growing strength of the nation’s recovery. Additionally, investors are worried about potential supply disruptions after the U.S. vowed to keep hitting Houthis until shipping attacks in the Red Sea stop. Also supporting prices were diminishing prospects of a swift end to the Ukraine war that could bring back more Russian energy supplies to Western markets. U.S. President Trump and Russian President Putin are expected to hold talks this week as the U.S. tries to broker a ceasefire in the ongoing conflict.
Eggs US decreased 2.36 USD/DOZEN or 40.60% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Eggs US reached an all time high of 8.17 in March of 2025. source: USDA
Brent crude oil futures rose to around $71.2 per barrel on Monday, extending gains from the previous session, after top oil importer China promised new measures to boost consumption, and the U.S. ordered attacks on Yemen's Houthis. Beijing on Sunday unveiled plan on special initiatives to revive consumption, including raising people's incomes and establishing a childcare subsidy scheme. China’s better-than-expected economic data released on Monday also pointed to the growing strength of the nation’s recovery. Additionally, investors are worried about potential supply disruptions after the U.S. vowed to keep hitting Houthis until shipping attacks in the Red Sea stop. Also supporting prices were diminishing prospects of a swift end to the Ukraine war that could bring back more Russian energy supplies to Western markets. U.S. President Trump and Russian President Putin are expected to hold talks this week as the U.S. tries to broker a ceasefire in the ongoing conflict.
US natural gas futures fell toward $4.0/MMBtu, the lowest in over two weeks, as record production and mild weather forecasts through early April reduce the demand for heating. Gas output in the Lower 48 states rose to 105.9 billion cubic feet per day (bcfd) in March, surpassing the February record of 105.1 bcfd. Meteorologists predict warmer-than-normal weather through April 1, likely leading to lower-than-usual withdrawals from storage. However, U.S. liquefied natural gas (LNG) exports continue to rise. Flows to LNG export plants have reached an average of 15.7 bcfd in March, slightly higher than February's record of 15.6 bcfd, boosted by the start of new units at Venture Global’s Plaquemines LNG plant in Louisiana.
Halroy Candis Williams (born December 14, 1938)[2] is an American actor, best known for his recurring roles as Police Officer Smith ("Smitty") on Sanford and Son (1972–1976), Harley Foster on The Waltons (1973-1980), and as the patriarch Lester Jenkins, the husband of Marla Gibbs's character, on the NBC sitcom 227 which originally aired from 1985 until 1990. His film credits include Private Benjamin (1980), Guess Who (2005), and Flight (2012).
US gasoline futures climbed above $2.1 per gallon, after data showed US gasoline inventories fell by nearly 6 million barrels to the lowest since early January, indicating robust consumer consumption. Crude oil stocks increased by 1.5 million barrels, below market expectations, while reserves at the Cushing hub declined. Meanwhile, markets weighed the potential impact of tariffs on Canadian oil, which could disrupt domestic supply and strain refining capacity in the Northern US. According to fuel distributor TACenergy, gasoline stations in New England faced higher costs on Canadian fuel shipments due to anticipated tariffs from US President Donald Trump. In geopolitical developments, Ukraine agreed to a US-backed 30-day truce with Russia, while Yemen’s Iran-backed Houthis threatened to resume attacks on Israeli ships.
Heating oil futures in the US fell toward $2.15 per gallon in March, reaching a three-month low, as rising global oil supply, trade uncertainties, and weakening demand weighed on prices. OPEC+ plans to increase output by 138,000 barrels per day in April, with Kazakhstan surpassing its quota, further boosting global supply and placing a cap on crude oil feedstock costs. Uncertainty surrounding US tariffs on Canadian oil has added volatility, raising concerns about potential disruptions to US supply and refining. Meanwhile, increased US natural gas production, combined with forecasts for milder weather in the next two weeks, is adding further pressure on heating oil prices, as natural gas competes for market share. Additionally, distillate stocks fell by 1.6 million barrels for the week ending March 7th, surpassing market expectations of a 1.3 million barrel decline, while heating oil inventories decreased by 183,000 barrels, marking the second consecutive drop.
!summarize #china #economy #deflation
From 'dumb pipes' to 'techcos'
Some lingo that has gathered steam in the telco industry for the last couple of years is the phrase "techco," a portmanteau of the words "telco" and "tech."
The term refers to the idea of a telco firm that operates more like a tech company — one that invests in cutting-edge technology and offers digital services to consumers to help them make money from the significant capital expenditures they've allocated to upgrading their wireless networks.
For two decades, tech giants such as Meta, Google, Amazon, Apple, Microsoft and Netflix have flourished in a world where content can be delivered directly to people's devices, consumers can communicate seamlessly with one another, and data can be stored or streamed online without having to own cumbersome infrastructure — all thanks to innovations like the internet, smartphones and the cloud.
However, these innovations have disrupted telecom firms' business models, to the point where they're now often perceived as legacy players that are only there to lay down the cables and other network infrastructure that enable internet connectivity.
It's a dilemma that's earned telco brands the pejorative term "dumb pipes."
"I remember early in the industry, even before mobile internet when SMS used to be the killer app," Hatem Dowidar, CEO of UAE state-owned telecom company e&, said in a keynote speech at MWC. "We used to make messaging revenue. We used to make voice revenue."
"All this over the years got disrupted by over-the-top players, to the point that today, a lot of telcos around the world are reduced to being a pipe of packets just getting data across the networks," Dowidar added. "And competition is not staying still. They have the scale, they have the investment to go and disrupt even further."
Telcos embrace AI
Ryu Young-sang, CEO of SK Telecom, told CNBC's Arjun Kharpal that the South Korean telecoms giant has looked to AI technology to help it improve the efficiency of its wireless network — something that was consistently on display at numerous telco operators' booths at MWC.
Commonwealth Fusion Systems, a startup born out of MIT, has raised the most money, nearly $2 billion from the likes of Bill Gates, Jeff Bezos and Google.
Washington-based Helion has raised $1 billion from investors like Open AI's Sam Altman and a highly ambitious deal with Microsoft to deliver fusion power to the grid by 2028. Google-backed TAE Technologies has raised $1.2 billion.
"Whoever has essentially abundant limitless energy … can impact everything you think of," said Michl Binderbauer, CEO of TAE Technologies. "That is a scary thought if that's in the wrong hands."
When it comes to public funding, China is way ahead.
China's existing national tokamak project, EAST, has been setting records, volleying with France's project WEST in the last couple months for the longest ever containment of plasma inside a reactor, although that's a less monumental milestone than net positive energy.
Another huge state-funded Chinese project, CRAFT, is set to reach completion this year. The $700 million 100-acre fusion campus in eastern China will also have a new tokamak called BEST that is expected to be finished in 2027.
China's CRAFT appears to follow a U.S. plan published by hundreds of scientists in 2020, Holland said.
"Congress has not done anything to spend the money to put this into action," he said. "We published this thing, and the Chinese then went and built it."
"That sounds a little scary, but on the other hand, what that means for founders is that you don't need a team of 50 or 100 engineers," said Tan, adding that companies are reaching as much as $10 million in revenue with teams of less than 10 people. "You don't have to raise as much. The capital goes much longer."
The growth-at-all-costs mindset of Silicon Valley during the zero-interest-rate era has gone "out the window," said Tan, pointing to a renewed focus on profitability. That focus on the bottom line also applies to megacap tech companies. Google, Meta and Amazon have gone through multiple rounds of layoffs and pulled back on hiring.
While that's shaken some engineers, Tan described it as an opportunity.
Hassabis isn't alone in suggesting that it'll take a while for AGI to appear. Last year, the CEO of Chinese tech giant Baidu Robin Li said he sees AGI is "more than 10 years away," pushing back on excitable predictions from some of his peers about this breakthrough taking place in a much shorter timeframe.
Some time to go yet
Hassabis' forecast pushes the timeline to reach AGI some way back compared to what his industry peers have been sketching out.
Dario Amodei, CEO of AI startup Anthropic, told CNBC at the World Economic Forum in Davos, Switzerland in January that he sees a form of AI that's "better than almost all humans at almost all tasks" emerging in the "next two or three years."
While it's been possible to develop systems that can break down problems and complete tasks autonomously in the realm of games — such as the complex strategy board game Go — bringing such a technology into the real world is proving harder.
"The question is, how fast can we generalize the planning ideas and agentic kind of behaviors, planning and reasoning, and then generalize that over to working in the real world, on top of things like world models — models that are able to understand the world around us," Hassabis said."
"And I think we've made good progress with the world models over the last couple of years," he added. "So now the question is, what's the best way to combine that with these planning algorithms?"
A pair of U.S. astronauts stuck for more than nine months on the International Space Station will be returned to Earth on Tuesday evening, NASA said.
Butch Wilmore and Suni Williams are to be transported home with another American astronaut and a Russian cosmonaut aboard a SpaceX Crew Dragon craft, after a replacement crew arrived at the ISS early Sunday.
The stranded duo have been on the ISS since June after the Boeing Starliner spacecraft they were testing on its maiden crewed voyage suffered propulsion issues and was deemed unfit to fly them back to Earth.
NASA said in a statement on Sunday evening that it had moved forward the astronauts' anticipated ocean splashdown off the Florida coast to approximately 5:57 pm Tuesday. It was initially slated for no sooner than Wednesday.
Another Texas company, Intuitive Machines, ended up sideways in a crater near the moon's south pole earlier this month, dooming the mission. It was the second incomplete mission for Intuitive Machines. Its first lander put the U.S. back on the moon last year for the first time since the Apollo era after a less-than-perfect landing that hampered communications.
Firefly is already working on its next lunar lander and striving for one moon landing a year.
No More Coca-Cola: Europeans Boycott US Goods
Ivan Hansen, a retired Danish police officer, loaded up his basket at the supermarket, carefully checking each product to avoid buying anything made in the United States. No more Coca-Cola, no more California Zinfandel wine or almonds.
The 67-year-old said it's the only way he knows to protest U.S. President Donald Trump's policies. He's furious about Trump's threat to seize the Danish territory of Greenland, but it's not just that. There are also the threats to take control of the Panama Canal and Gaza. And Trump's relationship with Elon Musk, who has far-right ties and made what many interpreted as a straight-armed Nazi salute.
“Drink more champagne,” one user posted after Trump threatened 200% tariffs on EU wine and Champagne.
Albertus, a school principal, told the AP he really misses the strong taste of Colgate. But he's been pleasantly surprised at finding a cola replacement that is half the price of Pepsi.
Trump's policies have “brought the Danish Viking blood boiling,” said Jens Olsen, an electrician and carpenter. He is now considering replacing $10,000 worth of U.S.-made DeWalt power tools even though it will cost him a lot.
He has already found European replacements for an American popcorn brand and California-made Lagunitas IPA beer, which he calls “the best in the world.”
“The man is deadly dangerous and is already costing lives” in the developing world and Ukraine, added Stæhr, who works helping disabled war veterans, many of whom got injured serving alongside U.S. troops in the Balkans, Iraq and Afghanistan. He himself served in Bosnia.
Edouard Roussez, a farmer from northern France, launched an online group, “Boycott USA, Buy French and European!” that in just two weeks has attracted over 20,000 members on Facebook.
Roussez believes a boycott of U.S. companies is a good way to express opposition to Trump’s policies, especially “the commercial and ideological war” he believes Trump is waging against Europe.
“First of all, these are the companies that financed Donald Trump’s campaign,” he said on state-owned LCP television channel. “I’m thinking of Airbnb, I’m thinking of Uber, I’m thinking of Tesla of course.”
Judge Cancels Hearing on R.I. Doctor Deported to Lebanon
A federal judge in Massachusetts canceled a hearing regarding a Rhode Island transplant surgeon and Brown University assistant professor deported Friday over her alleged support for Iranian-backed Hezbollah terrorists and Iran Supreme Leader Ayatollah Ali Khamenei.
U.S. District Judge Leo Sorokin, a Barack Obama appointee, canceled the hearing regarding the deportation Friday of Dr. Rasha Alawieh, a Lebanese national in the U.S. on an H-1B work visa, after most of the attorneys associated with the plaintiff withdrew from the case, WFXT-TV in Boston reported.
Sorokin ordered Friday that Alawieh be kept in the U.S. and brought to a court hearing Monday, but he wrote Monday morning that "Dr. Alawieh is now in Lebanon," CBS News reported.
Sorokin is giving the government a week to provide the court with more information. Yara Chehab, who filed the habeas corpus petition on behalf of her cousin, alleged customs officials "willfully" disobeyed Sorokin's order, will have until March 31 to respond to the government's request to dismiss the petition, according to WFXT.
The Department of Homeland Security told CBS News on Monday that Alawieh told CBP officers that she traveled to Beirut to attend the Feb. 23 funeral of Hezbollah leader Hassan Nasrallah, who was killed after an Israeli airstrike in September.
"A visa is a privilege not a right — glorifying and supporting terrorists who kill Americans is grounds for visa issuance to be denied," the DHS said. "This is common sense security."
GSCI increased 6.28 points or 1.14% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, GSCI Commodity Index reached an all time high of 1718.63 in July of 2008.
WTI crude oil futures rose to around $67.8 per barrel on Monday, extending gains from the previous session, after top oil importer China promised new measures to boost consumption, and the U.S. ordered attacks on Yemen's Houthis. Beijing on Sunday unveiled plan on special initiatives to revive consumption, including raising people's incomes and establishing a childcare subsidy scheme. China’s better-than-expected economic data released on Monday also pointed to the growing strength of the nation’s recovery. Additionally, investors are worried about potential supply disruptions after the U.S. vowed to keep hitting Houthis until shipping attacks in the Red Sea stop. Also supporting prices were diminishing prospects of a swift end to the Ukraine war that could bring back more Russian energy supplies to Western markets. U.S. President Trump and Russian President Putin are expected to hold talks this week as the U.S. tries to broker a ceasefire in the ongoing conflict.
Eggs US decreased 2.36 USD/DOZEN or 40.60% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Eggs US reached an all time high of 8.17 in March of 2025. source: USDA
Brent crude oil futures rose to around $71.2 per barrel on Monday, extending gains from the previous session, after top oil importer China promised new measures to boost consumption, and the U.S. ordered attacks on Yemen's Houthis. Beijing on Sunday unveiled plan on special initiatives to revive consumption, including raising people's incomes and establishing a childcare subsidy scheme. China’s better-than-expected economic data released on Monday also pointed to the growing strength of the nation’s recovery. Additionally, investors are worried about potential supply disruptions after the U.S. vowed to keep hitting Houthis until shipping attacks in the Red Sea stop. Also supporting prices were diminishing prospects of a swift end to the Ukraine war that could bring back more Russian energy supplies to Western markets. U.S. President Trump and Russian President Putin are expected to hold talks this week as the U.S. tries to broker a ceasefire in the ongoing conflict.
US natural gas futures fell toward $4.0/MMBtu, the lowest in over two weeks, as record production and mild weather forecasts through early April reduce the demand for heating. Gas output in the Lower 48 states rose to 105.9 billion cubic feet per day (bcfd) in March, surpassing the February record of 105.1 bcfd. Meteorologists predict warmer-than-normal weather through April 1, likely leading to lower-than-usual withdrawals from storage. However, U.S. liquefied natural gas (LNG) exports continue to rise. Flows to LNG export plants have reached an average of 15.7 bcfd in March, slightly higher than February's record of 15.6 bcfd, boosted by the start of new units at Venture Global’s Plaquemines LNG plant in Louisiana.
Halroy Candis Williams (born December 14, 1938)[2] is an American actor, best known for his recurring roles as Police Officer Smith ("Smitty") on Sanford and Son (1972–1976), Harley Foster on The Waltons (1973-1980), and as the patriarch Lester Jenkins, the husband of Marla Gibbs's character, on the NBC sitcom 227 which originally aired from 1985 until 1990. His film credits include Private Benjamin (1980), Guess Who (2005), and Flight (2012).
US gasoline futures climbed above $2.1 per gallon, after data showed US gasoline inventories fell by nearly 6 million barrels to the lowest since early January, indicating robust consumer consumption. Crude oil stocks increased by 1.5 million barrels, below market expectations, while reserves at the Cushing hub declined. Meanwhile, markets weighed the potential impact of tariffs on Canadian oil, which could disrupt domestic supply and strain refining capacity in the Northern US. According to fuel distributor TACenergy, gasoline stations in New England faced higher costs on Canadian fuel shipments due to anticipated tariffs from US President Donald Trump. In geopolitical developments, Ukraine agreed to a US-backed 30-day truce with Russia, while Yemen’s Iran-backed Houthis threatened to resume attacks on Israeli ships.
Heating oil futures in the US fell toward $2.15 per gallon in March, reaching a three-month low, as rising global oil supply, trade uncertainties, and weakening demand weighed on prices. OPEC+ plans to increase output by 138,000 barrels per day in April, with Kazakhstan surpassing its quota, further boosting global supply and placing a cap on crude oil feedstock costs. Uncertainty surrounding US tariffs on Canadian oil has added volatility, raising concerns about potential disruptions to US supply and refining. Meanwhile, increased US natural gas production, combined with forecasts for milder weather in the next two weeks, is adding further pressure on heating oil prices, as natural gas competes for market share. Additionally, distillate stocks fell by 1.6 million barrels for the week ending March 7th, surpassing market expectations of a 1.3 million barrel decline, while heating oil inventories decreased by 183,000 barrels, marking the second consecutive drop.