CARACAS, VENEZUELA—U.S. Secretary of Energy Chris Wright deliveredremarks today alongside Interim President Delcy Rodriguez after meetings at the Miraflores Palace in Caracas. Secretary Wright’s full remarks are below: Thank you so much, Interim President Rodriguez. It is an honor to stand here with you today, and to be among the tremendous people of Venezuela. As Interim President Rodriguez mentioned, our countries share a long history. It has gone through different chapters as all relationships do. But today, I bring a message from President Trump: He is passionately committed to absolutely transforming the relationship between the United States and Venezuela. This is part of a broader agenda to make the Americas great again, to bring our countries closer together, and to bring commerce, peace, prosperity, jobs, and opportunity to the people of Venezuela in partnership with the United States. These are not just words or ambitions. We have very specific plans and very specific actions already. This is President Trump’s broader agenda: peace, commerce, and trade, not conflict, not military action, not what has dominated so much of our world. Whether it’s in the Middle East, whether it’s in South Asia, or maybe, most importantly, in the Americas, we want commerce, we want peace, we want prosperity, we want security. Our government in Washington, DC, has been working 7 days a week to issue licenses, so existing businesses in Venezuela, new businesses that want to enter Venezuela, Venezuelan national companies can buy products, invest money, raise oil production, create new jobs, grow export revenue. All of the things that have constricted the Venezuelan economy, we want to set the Venezuelan people and the economy free. We had very wonderful and candid dialogues today. We both spoke very candidly about the tremendous opportunities in front of us, and some of the problems

WASHINGTON—The U.S. Department of Energy (DOE) today announced 26 science and technology challenges of national importance to advance the Genesis Mission and accelerate innovation and discovery through artificial intelligence (AI). Building on President Trump’s Executive Orders Launching The Genesis Mission and Removing Barriers to American Leadership In Artificial Intelligence, the challenges span DOE’s discovery science, energy, and national security missions. Each was selected for its potential to deliver measurable benefits for the American people and to accelerate advancements through the Genesis Mission’s AI platforms, world-class facilities, and public-private partnerships. “These challenges represent a bold step toward a future where science moves at the speed of imagination because of AI. It’s a game-changer for science, energy, and national security,” said DOE Under Secretary for Science and Genesis Mission Lead Dr. Darío Gil. “By uniting the U.S. Government’s unparalleled data resources and DOE’s experimental facilities with cutting-edge AI, we can unlock discoveries that will power the economy, secure our energy future, and keep America at the forefront of global innovation.” “President Trump’s Genesis Mission is mobilizing America’s unmatched scientific infrastructure and AI ingenuity to double the pace of discovery. These 26 challenges are a direct call to action to America’s researchers and innovators to join the Genesis Mission and deliver science and technology breakthroughs that will benefit the American people,” said Assistant to the President and Director of The White House Office of Science and Technology Policy Michael Kratsios. “We look forward to expanding the list of challenges across Federal agencies to bring even greater impact to the Mission.” Working in partnership with DOE’s National Laboratories, industry, and academia, these efforts will deliver tangible results for the American people. Examples include: Scaling the Grid to Power the American Economy: Using AI to improve power grid planning, interconnection, operations, and security — enabling decisions up to 20–100 times faster and improving electricity cost and reliability by up to 10 percent. Harnessing America’s Historic Nuclear Data: Digitizing eight decades of

Oil slid as risk-averse sentiment pervaded global markets and investors digested fresh developments in US-Iran tensions that continue to cloud the supply outlook. West Texas Intermediate fell 2.8% to end the day below $63 a barrel, as equities weakened amid concerns over technology profits. US President Donald Trump said negotiations with Iran over its nuclear program could stretch for as long as a month, but it would be “very traumatic” for Tehran if it failed to reach an agreement. Traders remain concerned about the potential for military strikes and risks to supply from the Middle East. Crude has gained every week this year, with a single exception, as geopolitical risks and supply disruptions drove futures higher. The US intervened in Venezuela in January, then pivoted to Iran after a wave of protests challenged the Islamic Republic’s leadership. A vast hoard of sanctioned oil at sea is also keeping a floor under prices as buyers compete for other barrels. Still, banks maintain that there is abundant supply, with Goldman Sachs Group Inc. saying that the surplus was appearing, but mainly in locations that are less significant for price-setting. The International Energy Agency said on Thursday that global oil stockpiles grew at the strongest pace since 2020 last year, underscoring the view that a period of oversupply has arrived, even if it is not being felt evenly across the globe. As the US-Iranian tensions play out, the Pentagon has positioned a naval force in the region. Israeli President Benjamin Netanyahu met with Trump on Wednesday, with the US leader saying his “preference” is to reach a deal with Tehran on its nuclear ambitions. Netanyahu visited Washington in a bid to warn Trump against such a move, instead hoping to press him to endorse a more sweeping rollback of Iran’s military influence in

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Oil, fundamental analysis Crude prices were up-and-down this week as traders eyed both optimistic and pessimistic signs regarding the proposed US/Iran talks held Friday. A large drop in crude and distillate inventories were the main fundamental factors noticed. Despite the rollercoaster ride, US prices remained above the key $60/bbl level. WTI had a High of $65.55/bbl on Wednesday with a weekly Low of $61.10 on Tuesday. Brent crude’s High was $69.75/bbl on Wednesday while its Low was $65.75 Monday. Both grades settled lower week-on-week. The WTI/Brent spread has tightened to ($4.50). The week started with a bearish tone as US President Trump spoke with optimism about the upcoming US/Iran talks. However, later in the week, the Iranian government objected to the specific topics the US wants to discuss beyond their nuclear developments and the meeting appeared doomed. The two sides did decide to follow through with the planned meeting Friday with Iranian officials labeling the meeting as a ‘very good start.’ Meanwhile, the Iranian Revolutionary Guard Corps (IRGCC) attempted to stop a US-flagged vessel in the Strait of Hormuz and sent drones to a US Navy ship in the area. Both attempts were thwarted by US naval forces. Some Very Large Crude Carriers (VLCC) are said to have been increasing their normal speeds for faster passage through the Strait of Hormuz while it’s still open. It is estimate that slightly more than 25% of global oil supplies move through the Strait. Russia is now relying heavily on its relationship with China to buy its oil exports after the US offered India a deal whereby tariffs could be cut if India halts buying Russian Urals. Additionally, Indian refiners would have access to Venezuelan exports. No official action has yet to be taken by the Indian government in terms of such a

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