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Devon Energy leads record $4 billion federal auction

May 20, 2026

Devon Energy spent $2.5 billion at a record federal oil lease sale held in the Permian Basin. The auction raised $4 billion as the Iran war cut global supplies.

Devon Energy spent $2.5 billion at a record federal oil lease sale held in the Permian Basin. The auction raised $4 billion as the Iran war cut global supplies.
Elon Musk's SpaceX has officially filed for its U.S. initial public offering after decades of development in rocket technology and satellite internet. The filing follows the company's recent acquisition of xAI and marks a transition from a private venture to a major public investment theme.

SpaceX files for historic US initial public offering

The TSX rose 1.25 percent on Wednesday as financials and miners led gains. Investors awaited Nvidia earnings while falling oil prices lowered bond yields.

TSX climbs 1.25 percent on financial and mining gains

Crude prices dropped significantly on Wednesday after President Trump announced that negotiations with Iran are nearing a conclusion. While Brent crude settled at 105.02 dollars, analysts warn that global supply remains tight and inventories continue to decline amid ongoing Middle Eastern shipping disruptions.

Oil Prices Fall as Trump Cites Progress in Iran Talks
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