Generic Hero BannerGeneric Hero Banner
Latest market news

Trump found guilty in criminal 'hush money' case

  • Market: Coal, Crude oil, Emissions, Natural gas, Oil products
  • 30/05/24

Former president Donald Trump was found guilty today on 34 felony counts of falsifying business records in relation to the reimbursement of a $130,000 payment to an adult film star ahead of the 2016 presidential election.

The unanimous guilty verdict, from a 12-member jury in New York, will inject further uncertainty into the presidential election on 5 November, where Trump is the presumed Republican nominee and is leading in many polls against President Joe Biden. Trump is the first former US president to face a criminal trial, and his conviction means he will run for office — on a campaign focused in part on rolling back energy sector regulations and expanding drilling — as a convicted felon.

Sentencing is scheduled for 11 July.

Trump has argued the criminal charges, filed by New York state prosecutors, were "ridiculous" and were a politically motivated attempt to interfere with his campaign.

At trial, Trump's attorneys argued against the credibility of a key witness, Trump's former attorney Michael Cohen, who testified that Trump directed the falsification of the business records to conceal a "hush money" payment to the adult film star following an alleged affair.

"This was a rigged, disgraceful trial," Trump said following the verdict, "but the real verdict is going to be November 5 by the people, and they know what happened here."

Despite the conviction, Trump, if elected, could still serve as president. Trump could face up to four years in prison, and sentencing will be decided by the judge overseeing the case.

Trump is separately facing dozens of other felony charges in federal and Georgia state court, but those cases have faced delays and may not go to trial before the election.

President Joe Biden's campaign said Trump has "always mistakenly believed" he would not face consequences. Biden's campaign said that despite the verdict, it would be up to voters to decide whether Trump is re-elected.

"Convicted felon or not, Trump will be the Republican nominee for president," Biden's campaign said.


Sharelinkedin-sharetwitter-sharefacebook-shareemail-share

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News
23/06/25

Iran fires missiles at US military base in Qatar

Iran fires missiles at US military base in Qatar

London, 23 June (Argus) — Iran today fired missiles at a US base in Qatar in retaliation for the weekend attack on its nuclear facilities. The Iranian military said the US' Al-Udeid base was its target. The Qatari government said it intercepted the missiles and there were no deaths or injuries. Tensions in the region have been stretched since the US bombed Iranian nuclear facilities at the weekend. US president Donald Trump today again expressed a desire for regime change in Tehran, which in turn said US military interests were now legitimate targets. Earlier, Qatar closed its airspace and the US and UK embassies there issued safety warnings to their citizens, suggesting this Iranian attack was flagged and expected. The price of Ice Brent crude fell by as much as 4.5pc in the wake of the Iranian attack to an intraday low of $72.48/bl, having hit a five-month high of $81.40/bl earlier in the day. The Iranian move echoes its attacks on US military targets in Iraq after the US' killing of senior Iranian military commander Qassem Soleimani in January 2020. Perhaps mindful of this, foreign firms operating in Iraq today started removing some employees from the country. Regional airlines began cancelling and rerouting flights across the Middle East, with flight tracking showing almost no flights in the air above the Mideast Gulf. By Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Find out more
News

Trump escalates pressure to keep oil prices down


23/06/25
News
23/06/25

Trump escalates pressure to keep oil prices down

Washington, 23 June (Argus) — President Donald Trump is pressing domestic oil producers to increase drilling as he works to contain the energy market fallout from a potential escalation in hostilities following US airstrikes on nuclear sites in Iran. Trump said today he was monitoring how the oil industry is responding to the conflict, which depending on Iran's response could disrupt 17mn b/d of crude and refined products that are shipped through the strait of Hormuz. The US carried out air strikes on Iran's Fordow, Natanz and Isfahan nuclear sites early on 22 June local time. Brent crude futures hit a five-month high above $80/bl earlier Monday but had fallen to $73.81/bl as of 1:18 pm ET, after Iran said it had launched an attack on a US military base in Qatar. "EVERYONE, KEEP OIL PRICES DOWN. I'M WATCHING! YOU'RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON'T DO IT!" Trump wrote Monday morning in a post on his social media website Truth Social. Trump followed up by directing the US Department of Energy (DOE) to "DRILL, BABY, DRILL!! And I mean NOW!!!" US energy secretary Chris Wright, in a social media post responding to Trump's instructions, said "we're on it" but did not say what actions he would take. DOE does not have a formal oversight or regulatory role related to oil and natural gas production, although it does manage the US Strategic Petroleum Reserve (SPR). The White House, asked for comment, said Trump was urging his administration to support drilling to keep energy prices low. Since Trump's first day in office, he has "championed domestic energy production to strengthen American economic security", the White House said. DOE did not immediately respond to a request for comment. Trump has sought to increase US oil production by easing regulations, expediting environmental reviews and expanding leasing, but it could take years for those actions to translate into higher production. In the near-term, Trump's most potent tool to reduce prices would be ordering a release of oil from the SPR, which holds 402.5mn bl of crude in four storage sites in Louisiana and Texas. Trump and many other Republican lawmakers were critical of former president Joe Biden for ordering the emergency release of 180mn bl of crude from the SPR in 2022 in the wake of Russia's invasion of Ukraine. Trump has said he wants to refill the SPR to its full capacity of 714mn bl. The White House said Monday it is not yet seeing interruptions to oil flows, but that the "many tools" available to the president and his "commitment to peace through strength" should "all be reassuring to the market". By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

LNG as marine fuel demand could rise by '35: Correction


23/06/25
News
23/06/25

LNG as marine fuel demand could rise by '35: Correction

Corrects statement on US LNG exports in paragraph 6. New York, 23 June (Argus) — Demand for LNG as a marine fuel will increase within the next 10 years if supply is boosted by exports from the US and Russia, according to Danish bunker supplier Monjasa. An increase in US and Russian LNG exports would make it a more viable option in the marine fuel market compared with conventional bunker fuel, Monjasa chief executive, Anders Østergaard said today at the Marine Money convention in New York. "If more Russian and more American LNG would come into the global markets, then I truly believe — and we've seen that before the war between Russia and Ukraine — that the price of LNG would beat the price of both fuel oil and diesel oil," Østergaard said. Conventional marine fuels, such as high-sulphur fuel oil and very low-sulphur fuel oil, will remain the dominant fuels in the bunker market in the next 10 years like it is today, according to Østergaard. Demand for other potential alternative marine fuels, like ammonia and methanol, are not likely to pick up by 2035 because the cost to use those fuels is not competitive unless regulations to use those fuels are changed, he said. The US is currently the largest global LNG exporter. Former US president Joe Biden's administration paused issuing export licenses for new LNG terminals last year. President Donald Trump lifted the ban earlier this year and has been approving export licenses for proposed LNG terminals. The EU has relied less on Russian gas and oil imports since Russia invaded Ukraine in 2022 and it is proposing to phase out all gas and oil imports by January 2028. By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Qatar closes airspace as 'precaution'


23/06/25
News
23/06/25

Qatar closes airspace as 'precaution'

London, 23 June (Argus) — Qatar today closed its airspace in what it called a "precautionary measure". The move came after the US embassy in Qatar ordered its citizens to "shelter in place". The UK followed this, with both embassies saying the order was "out of an abundance of caution". The Qatari government said the embassies' warnings did not "necessarily reflect the existence of specific threats". The country's foreign office said the airspace closure was undertaken "based on developments in the region". Tehran said today that US airstrikes have expanded the range of legitimate military targets for its armed forces, and Qatar hosts the US' largest military base in the Middle East. Closure of Qatari airspace will make traversing the Mideast Gulf region by air more complicated. Air traffic tracking data show a complete absence of aircraft over Lebanon, Syria, Iraq and Iran, with all flights from east to west diverting either north or south of this region. By Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Subsidised bio-LNG deemed eligible under FuelEU


23/06/25
News
23/06/25

Subsidised bio-LNG deemed eligible under FuelEU

London, 23 June (Argus) — Subsidised bio-LNG and other types of alternative fuels are deemed eligible under FuelEU Maritime Regulation, according to sources with knowledge of the matter. FuelEU allows emissions reductions supported under other legal frameworks, such as the support schemes under RED, in order to encourage greater investment in less carbon-intensive marine fuels. Under Directive (EU) 2018/2001 (RED), the greenhouse gas (GHG) reductions are counted towards member states' targets, while under FuelEU the targets are set to shipping companies. Excluding subsidised marine fuels may otherwise lead to competitive disadvantages for smaller sectors, such as European biomethane. The European Commission has not yet issued an official statement. Demand for bio-LNG has risen sharply this year with the start of FuelEU Maritime in January, requiring ship-owners to reduce their GHG emissions by 2pc in 2025, with targets steadily rising to 80pc in 2050. Subsidised, bunker dob bio-LNG in Northwest Europe was last assessed at €78.09/MWh ($89.55/MWh) on Thursday, while its unsubsidised counterpart was assessed at €93.59/MWh. By Madeleine Jenkins Bio-LNG vs Gas Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more