The proposed pipeline could reshape global oil markets, influencing pricing and supply chains while reducing Canada's U.S. dependency.
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The post Meta to build $13 billion AI data center in Alberta, its first in Canada appeared on BitcoinEthereumNews.com.
Meta will build a 1-gigawatt AI data center in Sturgeon County, Alberta, the company’s first in Canada and, by its own account, its largest outside the United States. Meta puts the investment at more than CAD $13 billion, or roughly $9.2 billion in US dollars. The company confirmed the project on Wednesday, July 8, at a Calgary news conference where Gary Demasi, Meta’s vice-president of data center strategy and development, appeared alongside Alberta Premier Danielle Smith. As reported by EnergyNow, Gary Demasi said: We are excited to announce that Sturgeon County, Alberta, will be home to Meta’s newest data center. The site sits about 35 kilometers north of Edmonton in the Alberta Industrial Heartland, a zone set aside for heavy industry. It will span roughly 2.9 million square feet and rank as Meta’s 33rd data center worldwide, joining a fleet that already includes f
Meta's investment in Alberta highlights the growing tension between tech expansion and environmental sustainability, challenging net-zero goals.
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Meta's investment in Alberta highlights the growing intersection of tech and energy sectors, raising questions about sustainability and economic impact.
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Polymarket's US return could redefine prediction markets, challenging competitors with low fees and setting new compliance standards in the industry.
The post Polymarket races to regain trust with US market re-entry after $112M acquisition appeared first on Crypto Briefing.
The post Oil: Gulf supply recovery challenges oversupply narrative – Commerzbank appeared on BitcoinEthereumNews.com.
Commerzbank’s Carsten Fritsch highlights a rapid recovery in Gulf oil production and exports following the US–Iran agreement, with Brent moving into contango and Saudi Arabia slashing its OSP for Asian buyers. Despite sharply higher observed flows, Fritsch argues that mine clearance, restricted tanker traffic and stock replenishment needs mean the Oil market is unlikely to face a genuine oversupply in the short term. Gulf output rebounds but risks linger “Price signals also suggest that oil supplies have risen more sharply than the official data indicate. This is because the front end of the Brent forward curve is in contango. Initially, only the first two futures contracts were affected.” “Last week, however, the contango structure extended to the first four contracts. Another indication could be Saudi Arabia’s sharp cut in the official selling prices (OSP) for August.
Russia's increased oil exports amid falling revenue could strain its budget, impact global fuel markets, and test OPEC+ cohesion.
The post Russia ships record oil volumes but revenue falls to $1.9B per week in June appeared first on Crypto Briefing.
Russia's increased oil exports, driven by drone-induced supply shifts, may lower global inflation, impacting central bank rate policies.
The post Russia boosts oil exports to record 3 million barrels per day in June as drone strikes reshape supply flows appeared first on Crypto Briefing.
The ceasefire's impact on Saudi oil exports highlights the fragile balance in regional stability, with potential volatility affecting global markets.
The post Saudi Arabia exports most crude from Persian Gulf since Iran war began appeared first on Crypto Briefing.
