LS Power LLC CEO Paul Siegel said on Friday the U.S. power market is largely insulated from oil-price spikes tied to a war with Iran because oil is no longer a primary fuel for power generation and the system now relies mainly on natural gas. Ample U.S. shale output has kept gas prices relatively stable year-to-date. "The grid needs a mix of generation technologies," Siegel said; LS Power is developing solar, battery storage and new gas-fired plants.

Australia's S&P/ASX 200 opened 0.3% lower at 8,814.20 on Friday, July 17.

On July 17, 2026, Wang Yi, CCP Politburo member and foreign minister, met in Shanghai with Oreshkin, deputy head of the Russian presidential administration, who was attending the World Artificial Intelligence Conference. Wang said China and Russia are comprehensive strategic partners and framed Russia’s accession to the World AI Cooperation Organization as a sign of high-level ties that will aid the body’s development. He said Beijing and Moscow will cooperate to steer AI toward healthy, safe and orderly development, strengthen capacity building in the Global South, and make AI a substantive component of China‑Russia strategic cooperation, echoing Xi’s opening remark that AI should be used for good and benefit all humanity.