By Nicole Jao Strait of Hormuz flows have slowed after last month’s truce collapsed Iran pressed Houthis to disrupt Red Sea shipping if US hits power sites NEW YORK, July 17 (Reuters) – Oil prices climbed more than 4% to their highest in more than a month on Friday after the U.S. and Iran stepped … Read more
(Reuters) – U.S. energy firms this week added rigs for a fifth week in a row for the first time since early June, boosting the total count to its highest since April 2025, energy services firm Baker Hughes said in its closely followed report on Friday. The total rig count, an early indicator of future … Read more
(Reuters) – ConocoPhillips said on Friday it had agreed to acquire a 42% stake in BP Energy Company of Kirkuk Ltd from BP, joining the British oil major in redeveloping four producing oilfields in northern Iraq. The agreement is expected to be signed during Iraqi Prime Minister Ali al-Zaidi’s official visit to Washington, where he … Read more
By API – American Petroleum Institute Almost 100 years ago, Americans built the Empire State Building, Hoover Dam and Golden Gate Bridge — projects that still define our country’s skyline. What might shock you is that while they were built with the tools and technology of another era, they each took less time to complete than … Read more
(Reuters) – For U.S. President Donald Trump, Australia’s failed “Great Emu War” nearly a century ago offers a highly relevant lesson: technological superiority does not guarantee victory against a dispersed and resilient foe. At first glance, efforts to prevent flocks of large, flightless birds from devastating farmland seem to have little in common with the … Read more
If the U.S. and Iran do not increase oil flowing through the Strait of Hormuz soon, the world should worry about energy security, International Energy Agency Executive Director Fatih Birol said on Thursday. “Oil security is still a critical issue,” Birol told a Council on Foreign Relations event. “We should be worried, and I … Read more
Robert Tuttle (Bloomberg) – On the edge of the Canadian Rocky Mountains, companies including Obsidian Energy Ltd. and Yangarra Resources Corp. are breathing new life into a long-dormant gas reservoir — except now they’re drilling for oil. Both firms are fracing into the sandstone that makes up the Basel Belly River formation in an area southwest of the Alberta’s provincial capital … Read more
(Reuters) – U.S. refiner margins registered a fresh record high for the third consecutive session on Thursday, as low stockpiles and worsening tensions in the Middle East threaten potential supply shortfalls in the world’s largest fuel consuming nation. U.S. refiners have been the biggest beneficiaries of the Iran war as international buyers have clamored for … Read more
(Reuters) – Oil prices inched up on Friday after the U.S. and Iran stepped up attacks across the Gulf, with their broken truce limiting oil flows out of the Strait of Hormuz and with Tehran asking the Houthi organisation to stand ready to shut the Red Sea export route. Brent crude futures rose 7 cents, or about … Read more
(Reuters) – Liquefied natural gas is poised to become the United States’ second-largest net export industry within five years, adding nearly $1.4 trillion to its gross domestic product through 2040, according to an S&P Global Energy study. In 2025, the country became the first to export more than 100 million metric tons of LNG in … Read more
Growth of U.S. LNG exports now expected to support 555,000 jobs annually and add $1.4 trillion to GDP through 2040 while domestic natural gas prices will remain among lowest in the world WASHINGTON, July 16, 2026 /PRNewswire/ — Growing exports of U.S. liquefied natural gas (LNG) are now on track to support 550,000 jobs annually … Read more
(Reuters) – China caught the oil industry by surprise during the Iran war, pulling powerful levers to shield itself from the biggest energy shock in decades. In the process, it established itself as a new force in global energy markets – an independent, opaque, massive power. The measures China used to offset the energy supply … Read more
By Shariq Khan Oil falls after rallying earlier in the week, analyst says sign of market exhaustion Iran tells Houthis to close Red Sea gateway if US hits power network, sources say US strikes Iranian coastal defenses, missile sites Fewer vessels have traveled through Hormuz strait after US resumed its blockade NEW YORK, July 16 … Read more
(Reuters) – Attacks on Saudi Arabia by Yemen’s Iran-aligned Houthis this week have frustrated Pakistan and threaten to draw Islamabad into the conflict, complicating any future role it may have as a mediator between the United States and Iran. Nuclear-armed Pakistan, which helped broker an interim deal last month in the war between Washington and … Read more
(Reuters) – Yemen’s Houthi leader Abdul Malik al-Houthi said on Thursday that all Saudi oil and other vital facilities would be targets for the group’s missiles and drones if Riyadh escalated its involvement in the conflict. The warning came after the Houthis fired missiles at Saudi Arabia, accusing the kingdom of bombing an airport under … Read more
(Reuters) – Iran has asked Yemen’s Houthi movement to stand ready to close the Red Sea oil route if the United States strikes Iranian power infrastructure, three sources told Reuters on Thursday, posing a potent new threat to global energy supplies. The idea has been discussed within the Islamic Republic’s leadership, and the message has … Read more
By Mitchell Ferman TotalEnergies SE reported another quarter of bumper oil trading after the Iran war upended crude markets, but warned of underperformance in its gas business. The French major said earnings from oil trading “are expected to remain at the same strong level as in the first quarter,” reflecting the market upheaval caused by … Read more
By Jason Chiu AXIS D2123-VE radar solution in a solar field Routine inspections remain one of the most important tools for maintaining energy infrastructure. Whether operators are overseeing substations, transmission corridors, renewable energy facilities, compressor stations, or remote pumping sites, scheduled inspections provide critical opportunities to assess equipment condition, identify maintenance requirements, and verify operational … Read more
(Reuters) – The U.S. Energy Information Administration said on Thursday it was reviewing the results of a pilot study to better understand minimum working crude oil inventory for some storage hubs at Cushing, Oklahoma, after stocks reached levels that may constrain normal operations. Cushing, the delivery point for U.S. West Texas Intermediate (WTI) crude futures, … Read more
(Reuters) – Shipping companies are avoiding using a U.S. military-guided transit scheme through the Strait of Hormuz after a wave of Iranian attacks on vessels sparked safety concerns, seven maritime security and shipping industry sources said. For decades ships sailed into and out of the Gulf using a safe set of lanes down the middle … Read more
(Reuters) – Renewed disruptions to Persian Gulf oil exports could keep upward pressure on prices in the near term, Goldman Sachs said in a note on Tuesday, adding that the next phase of recovery in flows remains uncertain and could be slower than the initial rebound even after geopolitical de-escalation. Goldman estimates that Gulf exports … Read more
(Reuters) – Trump administration policies that scaled back federal support for clean energy have led to the cancellation or delay of $83 billion in investment across hundreds of projects, according to a report released on Tuesday by labor and environmental coalition BlueGreen Alliance. The report was unveiled as labor leaders met with Senate Democrats … Read more
Summary US launches multiple strikes on Iran, which retaliates Fewer vessels travel through Hormuz as US, Iran continue strikes Brent and WTI remain close to one-month high July 16 (Reuters) – Oil prices eased on Thursday as traders weighed escalating tensions between the United States and Iran and the risks to oil supplies moving through … Read more
(Reuters) – U.S. oil and gasoline stocks fell last week, the U.S. Energy Information Administration said on Wednesday, as refiners stepped up their crude processing and gasoline demand remained sturdy in the summer driving season. Crude inventories fell by 1.7 million barrels to 409.7 million barrels in the week to July 10, the EIA said, … Read more
(Reuters) – Iran’s top negotiator Mohammad Baqer Qalibaf said on Wednesday that if Iran did not benefit from its memorandum of understanding with the U.S., “we have no reason to adhere to such an understanding”. Iran’s national security depends on maintaining “Iranian arrangements” in the Strait of Hormuz, Qalibaf added in a statement posted on … Read more
(Reuters) – Iran has warned that its campaign to throttle global energy markets could be expanded from the Strait of Hormuz to the vital Red Sea route if U.S. attacks continue, a threat that depends on its Houthi allies in Yemen. This is why it matters and what it means for the Iran war and … Read more
(Reuters) – Asian refiners snapped up U.S. crude cargoes overnight as they sought to secure alternative supplies amid escalating tensions in the Middle East, trade sources said on Wednesday. Two South Korean refiners purchased at least 5 million barrels of West Texas Intermediate (WTI) crude, the people said. The cargoes for loading in July and … Read more
(Reuters) – Iran’s Islamic Revolutionary Guard Corps has threatened to close “all other export corridors that benefit the U.S. and its allies”, Iranian media reported, after Iran shut the Strait of Hormuz and the U.S. reimposed a naval blockade of Iranian ports. “Regional energy exports are either shared by all, or denied to all,” the … Read more
MicroWatt is launching the ExR-2.5 – the first UL Certified inspection robot for potentially explosive hazardous industrial locations in North America. As Exrobotics’ exclusive North American distributor, assembler and service provider, MicroWatt is leading the introduction of certified robotic inspection technology designed to help customers reduce risk in hazardous locations. The ExR-2.5 is the only … Read more
By Reuters July 14 (Reuters) – LNG Canada said on Tuesday five First Nations will have an equity option to invest up to C$1 billion ($710.78 million) to acquire a storage tank planned to be built in a proposed expansion of the country’s first major LNG export facility. First Nations, Canada’s indigenous peoples groups, have been … Read more
The Alberta government, Ottawa and five major oilsands producers have signed a memorandum of understanding to advance the multibillion-dollar Pathways carbon capture and storage project. The Pathways project is a condition for a new West Coast oilsands pipeline moving ahead. The federal government has committed to extending investment tax credits for various carbon capture … Read more
Summary Iran threatens to block more vital seaways Goldman Sachs said Brent could exceed $110 in the fourth quarter Gulf exports slipped below 50% of pre-war levels over last week: Goldman (Reuters) – Oil extended gains by around 2% on Wednesday as President Donald Trump reimposed a naval blockade on all Iranian ports and Iran’s … Read more
(Reuters) – U.S. President Donald Trump on Tuesday dropped the idea of charging a 20% fee on all cargo shipped through the Strait of Hormuz, and said he would instead take trade and investment deals with the Gulf states. The change of plan comes a day after Trump proposed charging a 20% fee to guard … Read more
Summary National average pump price $3.84/gallon, up 9.8 cents in a week Gasoline prices surged along with crude after truce collapsed Fewest tankers in two months transit the Strait of Hormuz (Reuters) – Americans could soon see gasoline prices top $4 a gallon again as renewed hostilities between the U.S. and Iran have pushed energy … Read more
(Reuters) – The Strait of Hormuz is part of Iran’s national security and it will exercise its sovereignty over it what ever that costs, Iran’s Deputy Foreign Minister Kazem Gharibabadi said in interview with state TV on Tuesday. Tehran currently has no commitments when it comes to the Islamabad MoU signed with the United States, … Read more
By API – American Petroleum Institute The situation in the Middle East remains highly uncertain with renewed escalation, and energy markets continue to respond to each new development. Over the past several weeks, crude oil and gasoline prices have swung sharply higher and lower as markets reassess evolving geopolitical risks. Yet despite those twists and turns … Read more
(Reuters) – Iraq’s Prime Minister Ali al-Zaidi said on Tuesday that Iraq needed a fair share within OPEC after he was asked by reporters whether he was considering leaving the oil producer group. Zaidi is on a trip to Washington as he aims to secure major U.S. investment in his country’s oil, gas, and power … Read more
(Reuters) – The price of Brent crude oil futures for prompt delivery rose on Tuesday to a one-month high over the price for oil six months later as traders priced in renewed risks to Middle Eastern supplies and shipping through the Strait of Hormuz. The first-month Brent contract traded $8.92 a barrel above the sixth-month … Read more
(Reuters) – President Donald Trump on Tuesday told reporters ahead of a meeting with Iraqi Prime Minister Ali al-Zaidi that the United States would be doing a lot of deals with Iraq and taking a lot of oil out of the country. “Iraq has tremendous potential because of their oil… and we’re going to be … Read more
(Reuters) – Kazakhstan’s Justice Ministry said the operator of the Kashagan oilfield must pay an environmental fine of 2.3 trillion tenge ($4.89 billion) by July 20, but that the company has filed an arbitration claim challenging the penalty, Interfax reported on Tuesday. Interfax quoted Kazakh deputy justice minister Daniyel Vaisov as saying that the arbitration … Read more
WASHINGTON, July 13 (Reuters) – President Donald Trump said on Monday that the United States was reinstating a naval blockade on Iran and would be reimbursed 20% on all cargo shipped through the Strait of Hormuz after Tehran claimed it had closed the vital waterway. “The Hormuz Strait is OPEN, and will remain OPEN, with … Read more
Story by Jennifer Lockett America’s emergency oil stockpile is shrinking at a pace that has turned a technical energy-policy decision into a North American power story. President Donald Trump’s 2026 Strategic Petroleum Reserve release was framed as a response to global supply pressure and Middle East instability, but the numbers reveal a deeper reality: … Read more
(Reuters) – More details are awaited after U.S. President Donald Trump said in a post that Washington was reinstating a naval blockade on Iran and would be reimbursed 20% on all cargo shipped through the Strait of Hormuz, the U.N.’s shipping agency said on Monday. “We are aware of the post and awaiting more details,” … Read more
U.S. President Donald Trump has sent Congress formal notification that hostilities against Iran resumed on July 7, a letter his administration sees as opening a new 60-day window to use the military in the region without congressional approval. “I directed this military action consistent with my responsibility to protect Americans and United States’ national … Read more
Summary Brent and WTI at its highest level since mid June U.S. military renews strikes on Iran while tankers come under attack in Strait of Hormuz UAE says Iranian missiles struck oil tankers in Strait of Hormuz, one sailor killed China’s June oil imports hit near 10-year low amid Iran war (Reuters) – Oil … Read more
By Reuters (Reuters) – President Donald Trump said on Monday that the United States was reinstating a naval blockade on Iran and would be reimbursed 20% on all cargo shipped through the Strait of Hormuz after Tehran claimed it had closed the vital waterway. “The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran. We … Read more
(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by about 3 million barrels last week to 316.5 million barrels, the lowest level since April 1983, according to data from the Department of Energy. The drawdowns are a part of a U.S. agreement to release 172 million barrels from the facility. … Read more
One Indian crew member was killed and eight others were wounded when two Emirati oil tankers were struck by Iranian cruise missiles in the Strait of Hormuz, the United Arab Emirates Ministry of Defence said on Tuesday, in the latest escalation in the strategic waterway. The ministry said the tankers, the Mombasa and Al … Read more
President Donald Trump told reporters on Monday that the United States was attacking Iran’s capabilities related to the Strait of Hormuz, amid renewed military action between the two countries. The U.S. military said on Monday it was launching fresh strikes against Iran but Trump told reporters at the Oval Office on Monday that he had … Read more
By Jonathan Saul and Florence Tan LONDON/SINGAPORE, July 13 (Reuters) – The number of tankers transiting the Strait of Hormuz fell in the past day to the lowest level in two months, shipping data showed on Monday, as renewed strikes between the U.S. and Iran and attacks on vessels heightened safety concerns. Shipping industry sources … Read more
By Georgina Mccartney Both sides have renewed strikes Iran says will not allow Washington to intervene in the Strait of Hormuz Cargo traffic had already begun to slow as tensions had increased HOUSTON, July 13 (Reuters) – Oil prices jumped more than 5% on Monday after U.S. President Donald Trump said the United States was … Read more
Transaction led by Blackstone, in partnership with Apollo and KKR TULSA, Okla.–(BUSINESS WIRE)–Williams (NYSE: WMB) announced today that it has signed an agreement led by funds managed by Blackstone Credit & Insurance (“Blackstone”), in partnership with Apollo and insurance vehicles and accounts managed by KKR, to support the development of its five announced behind-the-meter Power … Read more
By Ahmed Rasheed and Muayad Hameed Zaidi bets on US companies to bolster energy sector Iran war dealt major blow to Iraq’s economy Zaidi expected to discuss deals with Trump BAGHDAD, July 13 – Iraq’s new Prime Minister Ali al-Zaidi aims to secure major U.S. investment in his country’s oil, gas, and power sectors during … Read more
(Reuters) – Greenfire Resources said on Monday that it has agreed to acquire privately held Connacher Oil and Gas Limited for around C$1.27 billion ($900 million) in cash. On a combined basis, Greenfire’s 2026 production is expected to rise to about 34,000 barrels per day, with combined reserves of 850 million barrels, with a long-term … Read more
(Reuters) – Asia’s imports of liquefied natural gas (LNG) are poised to hit a six-month high in July while Europe’s imports plunge to their lowest in nearly two years. While some of the strength in Asia is because of seasonal demand during the summer peak, the weakness in Europe underscores just how far the second-biggest … Read more
Cheap, mass-produced drones have transformed modern warfare, exposing critical energy infrastructure as an Achilles’ heel for modern economies. Lessons from the battlefields of Ukraine, Russia and the Middle East have shown how unmanned aircraft can evade traditional air defences, turning oil refineries, power stations, export terminals and pipelines into prime targets. The implications for … Read more
President Donald Trump said on Monday that the United States would probably take over the Strait of Hormuz and should be reimbursed for controlling the vital waterway. “We’re going to keep the strait, and we’ll probably run it. We’ll become the guardian of the strait. Maybe we’ll call it the guardian angel of the … Read more
The cost of power from natural gas-fired plants in the US hit the highest level in at least 17 years, and is poised to climb even higher as demand surges from new data centers. That’s according to George Bilicic, global head of power, energy and infrastructure at Lazard Inc., which tracks the so-called levelized cost of energy. … Read more
By Reuters (Reuters) – Chesapeake Utilities said on Monday its unit Peninsula Pipeline Company will develop, construct and operate a natural gas pipeline project in Florida for about $1.2 billion. The project will help expand natural gas transportation capacity to address regional supply constraints, it said. Utilities have been investing in new infrastructure to improve reliability and … Read more
LONDON, July 13 – OPEC on Monday lowered its forecast for world oil demand growth in 2026 to 780,000 barrels per day, a copy of its monthly report showed, marking the third straight downward revision. The producer group continues to see a smaller impact on consumption since the Iran war started than other forecasters such … Read more
Summary Hormuz traffic slows to multi-week low on renewed conflict Iran expands attacks on Gulf states after US strikes, says Strait of Hormuz closed Trump says Strait of Hormuz open to commercial traffic UAE’s ADNOC lowers Murban crude selling price for August (Reuters) – Oil prices surged more than 2% on Monday after renewed military … Read more
The U.S. military said on Saturday it launched a new round of strikes against Iran after Islamic Revolutionary Guard Corps forces attacked a Cyprus-flagged container ship transiting the Strait of Hormuz. “A civilian crew member is missing and the vessel is unable to continue the journey due to an onboard fire and significant engineroom … Read more
Iran on Sunday said it closed the Strait of Hormuz after a vessel traveled on an unapproved route and was struck, warning that any retaliation over the incident would be met with a “severe response.” “A vessel that had jeopardized maritime security by switching off its systems was struck and brought to a halt,” … Read more
(Reuters) – U.S. energy firms this week added rigs for a fourth week in a row for the first time since early June, energy services firm Baker Hughes said in its closely followed report on Friday. The report, which Baker Hughes usually releases around 1 p.m. EDT (1700 GMT) on Fridays, was delayed by … Read more
(Reuters) – Shale producer Occidental Petroleum said in a filing on Friday its worldwide average realized oil prices rose 38.4% in the second quarter compared with the previous three months, driven by higher benchmark crude rates amid the Middle East conflict. The U.S.-Iran war has injected a hefty geopolitical risk premium into the energy markets and … Read more
Summary AAA data showed average US gasoline prices rose 6 cents this week to $3.88 a gallon Friday Refinery outages in Russia and the United States are squeezing fuel supplies EIA data showed US petroleum products exports hit a weekly record 8.7 million bpd (Reuters) – U.S. drivers have seen gasoline prices climb again … Read more
(Reuters) – U.S. natural gas futures fell about 4% to an eight-week low on Friday on forecasts for less hot weather than previously expected over the next two weeks, an expected decline in flows to liquefied natural gas (LNG) export plants during maintenance at Freeport LNG in Texas, and ample amounts of gas in storage. … Read more
(Reuters) – The United States on Friday issued new Iran-related sanctions following Iran’s resumption of attacks on international shipping in the Strait of Hormuz, the Treasury Department said. The sanctions target Ali Ansari, an Iranian banker and businessman based in Dubai who had previously been sanctioned by Britain for his role in financially supporting the … Read more
By Erwin Seba Tanker traffic through Strait of Hormuz has slowed IEA says US-Iran escalation undermines oil surplus forecast Russia’s gasoline output covers 65% of demand after Ukrainian strikes, sources say HOUSTON, July 10 (Reuters) – Oil prices settled lower on Friday after the latest round of U.S.-Iran fighting as traders grew hopeful that shipping … Read more
(Reuters) – President Donald Trump on Friday said the United States had agreed to talks with Iran after Tehran asked to continue negotiations, while stressing that the June ceasefire between the two nations was over. “The Islamic Republic of Iran has asked us to continue ‘talks.’ We have agreed to do so, but the United … Read more
(Reuters) – Goldman Sachs said the latest strikes in the Strait of Hormuz could slow the ramp-up in Middle East oil production, while the cancellation of the U.S. sanctions waiver could once again weigh on exports of Iranian oil, which had only recently begun to recover. Oil prices extended gains on Thursday as the latest … Read more
Summary Brent set for 7% weekly gain, WTI set for 6% rise Tanker traffic through Strait of Hormuz has slowed IEA says U.S.-Iran escalation undermines oil surplus forecast (Reuters) – Oil prices rose on Friday and were on track for weekly gains as renewed U.S.-Iran fighting disrupted shipping in the Strait of Hormuz, stoking concerns … Read more
Summary IEA 2027 forecasts imply 4.62 million bpd surplus vs 860,000 bpd deficit in 2026 Global oil supply up 4.1 million bpd month-on-month in June, IEA says Demand seen dropping this year, rebounding by 2 million bpd in 2027 Global inventories up 21 million barrels in June, the IEA says Refined fuel markets tighten as … Read more
(Reuters) – Oil refiners around the world have seen profits surge thanks to a rare combination of robust fuel demand and weak crude prices, as markets have rapidly readjusted following the reopening of the Strait of Hormuz. The windfall is unlikely to last. The benchmark U.S. 3-2-1 crack spread, a widely watched measure of refining … Read more
By Michael S. Derby New York Fed president expects energy prices to cool in remainder of 2026 He declines to say what Fed should do at next policy meeting Williams says balance sheet changes should focus on bank safety NEW YORK, July 9 (Reuters) – New York Federal Reserve President John Williams said on Thursday … Read more
By Neil Ford Canada’s new national power strategy creates huge investment opportunities for grids and clean power while loosening restrictions on gas-fired plants. July 7 – In May, Prime Minister Mark Carney announced plans to double national power generation and grid capacity by 2050 at an estimated cost of C$1 trillion ($729 billion). The National … Read more
(Reuters) – Gasoline and diesel markets are signalling a fuel supply crunch despite relatively subdued crude oil prices, suggesting the energy shock from the Iran war may be far from over. Energy prices surged after the U.S.-Israeli war on Iran led to the effective closure of the Strait of Hormuz, which carried about a fifth … Read more
Meg O’Neill’s decision to simplify the company’s structure is helping BP’s response to the disruption caused by the Iran war By Mitchell Ferman BP PLC’s new chief executive acknowledged that the oil giant still has work to do to streamline its decision-making processes and gain investor trust in a post that marked her first 100 … Read more
(Reuters) – Governments are set to buy millions of barrels of oil through 2028 to rebuild emergency reserves depleted by drawdowns to plug a gap in global supply caused by the U.S.-Israeli war on Iran, analysts and officials said. This could boost demand for crude that would absorb some of the expected global supply surplus … Read more
(Reuters) – Oil tanker traffic through the Strait of Hormuz was at a near standstill on Thursday, according to data and sources, as shipping risks escalated after the U.S. renewed airstrikes on Iran, triggering retaliation by Tehran in the Gulf. Just two tankers had so far sailed through the strait in the early hours of … Read more
By Yawen Chen LONDON, July 9 (Reuters Breakingviews) – Ships passing through the Strait of Hormuz may pay tolls after all. Just not the kind Iran can actually collect. Ostensibly, the relative calm of the last few weeks is over. Iran’s strikes this week on ships trying to transit Hormuz via the waterway nearest Oman … Read more
(Reuters) – Iranian armed forces targeted U.S. military infrastructure in neighbouring Gulf states on Thursday following U.S. strikes on Iran’s southern coastal and eastern provinces, putting further strain on a three-week-old ceasefire agreement. Iran was also preparing on Thursday to bury its slain Supreme Leader Ayatollah Ali Khamenei at the country’s holiest shrine in Mashhad, … Read more
(Reuters) – Iraq will not leave OPEC, but is seeking a fair output quota within the oil producer group, Iraqi Prime Minister Ali al-Zaidi said in an interview with Saudi-owned Al Arabiya TV, according to his office. Reuters reported in an exclusive in June that Iraq, the group’s second-largest producer after Saudi Arabia and one … Read more
(Reuters) – Norway’s oil and gas production has been reduced by 2.4 million barrels of oil equivalent (boe) so far this year as a result of an ongoing pay strike by oil service workers, industry group Offshore Norway said on Thursday. Norway produced about 1.5 billion boe, or more than 4 million barrels of oil … Read more
(Reuters) – One of the clever ways to deal with the unprecedented and disruptive U.S. presidency of Donald Trump is to make up acronyms using Mexican foods. This has given us TACO — Trump Always Chickens Out — to reflect the U.S. president’s tendencyto escalate a situation before retreating once the economic and political costs … Read more
The Three Mile Island nuclear power plant, located in the middle of the Susquehanna River, in Middletown, Pennsylvania.Photographer: Heather Khalifa/Bloomberg Bloomberg Nuclear energy is back in vogue in the US. Utilities are restarting shuttered plants and the Trump administration is pushing for more reactors to be built. Dozens of startups are working on new technologies … Read more
(Reuters) – The possible collapse of U.S.-Iran peace talks and the stop-start flow of tankers through the Strait of Hormuz are a nightmare scenario for Gulf nations desperate to return to normal after a bruising multi-month conflict. What was meant to mark the start of a fragile recovery following the June 17 memorandum of understanding … Read more
Summary US military carries out strikes on Iran, prompting Iranian attacks on Kuwait and Bahrain Some war insurers advise shipowners to pause Hormuz voyages, sources say Analyst says Brent will probably trade in a $75–85 range over the next month July 9 (Reuters) – Oil prices fell on Thursday as markets assessed the impact of … Read more
(Reuters) – Chevron will allow rival oil producers to buy a chemical technology it developed to boost production from shale wells, the company said on Wednesday, as part of a broader push to increase U.S. oil output. The move comes as the U.S. shale industry, which transformed global energy markets nearly 20 years ago through … Read more
(Reuters) – Tech giant Meta announced Wednesday it will build a massive data center in central Alberta, the company’s first in Canada, as it rapidly builds out computing capacity to support the global AI boom. The 1-gigawatt data center will be located in Sturgeon County and represents a total investment of C$13 billion, or $9.17 … Read more
By Parisa Hafezi and Angus McDowall Interim deal’s wording fuels rival U.S.-Iran interpretations over who manages transit Tehran once viewed shutting the waterway as a last resort Iran won’t start nuclear talks before Washington accepts its authority over the strait DUBAI, July 8 – Control over the Strait of Hormuz has become a “golden weapon” … Read more
(Reuters) – A Qatari LNG tanker was still stuck off Oman on Wednesday awaiting salvage operations, shipping data showed, a day after it was hit by a projectile, while the U.S. military said two other tankers had been targeted by Iran in recent days. The attacks on the tankers prompted Washington to revoke a licence … Read more
(Reuters) – Iran’s Revolutionary Guards said they targeted U.S. military sites in Bahrain and Kuwait on Wednesday after the U.S. launched a wave of military strikes on Iran in response to attacks on tankers in the Strait of Hormuz. In the latest blow to the fragile ceasefire agreement, the Islamic Revolutionary Guard Corps said it … Read more
(Reuters) – A Qatari tanker loaded with liquefied natural gas (LNG) was at risk of exploding, one source said, after it sustained significant damage in an attack on the Omani side of the Strait of Hormuz on Tuesday. While the LNG industry has experienced a few accidents at onshore facilities, there has never been a … Read more
By API – American Petroleum Institute When Iran closed the Strait of Hormuz, gasoline prices in California rocketed higher. In West Texas, spot prices for natural gas have been negative for months. And in Boston, winter heating bills have been higher than in nearby states, despite its proximity to natural gas producing regions. Three energy … Read more
Transaction adds the world’s largest commercial well log database to Enverus, expanding its subsurface foundation with depth-calibrated logs, LAS files, formation tops, petrophysics and proprietary coverage across major U.S. basins AUSTIN, Texas (July 8, 2026) — Enverus today announced the acquisition of the A2D well log library and associated data products from TGS ASA, adding the world’s … Read more
(Reuters) The biggest expansion of global LNG supply on record, led by the United States and Qatar, could be slowed as most of the ships needed to transport the fuel are being built in South Korea and China, a Wood Mackenzie report said on Wednesday. “The LNG industry talks constantly about energy security, diversification and … Read more
Summary Qatari LNG tankers change course Three stranded VLCCs exit Strait of Hormuz SINGAPORE, July 8 (Reuters) – At least four oil and gas tankers have turned back from attempting to transit the Strait of Hormuz, ship-tracking data showed, as renewed attacks on vessels in the critical waterway heightened safety and security concerns. The diversions … Read more
Iran’s top joint military command, Khatam al-Anbiya Central Headquarters, said on Wednesday that Iranian armed forces would deliver a “crushing response” after accusing the U.S. military of targeting parts of southern Iran in what it called a “blatant act of aggression”, and warned that Tehran would not allow U.S. interference in the management of … Read more
By Laila Kearney PJM capacity prices up more than 1,000% in the last two years Industrial electricity prices grow faster than residential, business costs New regulations to manage data center power use could hit factories Industrial manufacturers look for ways to cut costs NEW YORK, July 7 (Reuters) – For years, electricity costs for the … Read more
By Dave Sherwood and Ayose Naranjo HAVANA, July 6 (Reuters) – Cuba began to slowly restore power on Monday after the country’s national electric grid collapsed earlier in the day, the latest blow to an island already suffering from severe energy, fuel and medicine shortages. Grid operator UNE said it was providing electricity to some … Read more
Summary Trump says interim accord with Iran to end war is ‘over’ US launches new strikes on Iran Iran responds with attacks on Kuwait and Bahrain China lifts fuel export curbs for July, sources say July 8 (Reuters) – Oil prices jumped more than 6% on Wednesday, hitting a two-week high after U.S. President … Read more
By Steven Scheer Israeli Foreign Minister Eli Cohen attends a conference at the European Parliament in Brussels, Belgium November 8, 2023. REUTERS/Yves Herman/File Photo JERUSALEM, July 7 (Reuters) – Gulf countries’ dependence on oil shipments through the Strait of Hormuz could be significantly reduced by a pipeline linking the Gulf to Europe via Israel, Israel’s … Read more
(Reuters) – Global oil output and trade flows should rebound fully by the end of this year from the disruptions caused by the Iran war, the U.S. Energy Information Administration said on Tuesday. Global benchmark Brent crude oil prices will average around $74 a barrel in the spot market during the third quarter of this … Read more
(Reuters) – The United Arab Emirates has fired the opening shot in what is fast becoming a fierce battle among Middle East oil producers to reclaim market share after the Iran war, a contest that threatens to weaken oil prices and further erode OPEC’s authority. Gulf producers, desperate for revenue to replenish state coffers depleted … Read more
(Reuters) – The United States is revoking a general license that authorized the sale of Iranian oil, a U.S. official said on Tuesday, warning that Iran’s actions in the Strait of Hormuz were “wholly unacceptable” and would be met with consequences after attacks on tankers in the strategic waterway. Oil prices rose more than 3% … Read more
July 7 (Reuters) – U.S. oil and gas major Exxon Mobil (XOM.N) signaled on Tuesday that changes in oil prices would boost its second-quarter upstream earnings by $3.5 billion to $3.9 billion. Benchmark Brent crude prices averaged at $93.58 a barrel during the April-June quarter, up 4.8% from the prior quarter. The U.S.-Iran war injected … Read more
By Scott Disavino Commercial electricity demand is expected to outpace residential demand in 2026 for the first time on record Renewables’ generation share rises from around 24% in 2025 to 27% in 2027, the outlook said Residential power sales seen dipping in 2026 after hitting a 2025 record NEW YORK, July 7 (Reuters) – U.S. … Read more
By Nicole Jao Saudi-flagged crude oil tanker damaged near Hormuz after LNG tanker hit, sources say Saudi Arabia considers expansion of oil pipeline to Red Sea, sources say Ukrainian drones strike eight tankers from Russia’s ‘shadow fleet’ NEW YORK, July 7 (Reuters) – Oil prices settled 3% higher on Tuesday and then extended gains post-settlement, … Read more
(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by 6.2 million barrels in the week ending July 3 to 319.5 million barrels, the lowest level since April 1983, according to data from the Department of Energy. The drawdown is part of a U.S. agreement to release 172 million barrels from … Read more
By David Shepardson WASHINGTON, July 7 (Reuters) – Fuel costs for U.S. airlines jumped 85% in May to nearly $6.7 billion as the Middle East conflict drove up prices, the U.S. Transportation Department said on Monday. Airlines spent $3.62 billion on fuel in May 2025, compared with $6.66 billion in the same month this year. … Read more
In the last week alone, Sinokor has sent at least 20 supertankers into the Gulf, enough to carry 40 million barrels of crude By Weilun Soon, Alex Longley and Anthony Di Paola Just a few weeks into the war, one of the Persian Gulf’s top oil producers quietly began sneaking its crude out of the … Read more
Summary UAE output topped 3.8 million bpd weeks after OPEC exit, sources say Record production vindicates Abu Dhabi’s push for quota freedom UAE outpaced Gulf peers in restoring pre-Iran war oil supply (Reuters) – The United Arab Emirates raised its crude output to near record highs above 3.8 million barrels per day in June … Read more
(Reuters) – Global liquefied natural gas trade hit a record last year as strong U.S. exports and rising European imports offset weaker Asian purchases, the International Gas Union said in a report on Wednesday. Conflict in the Middle East could lead to a contraction in 2026, however, it warned. “The conflict in the Gulf has damaged LNG … Read more
July 6 (Reuters) – More than 373,000 homes and businesses were without power as of Monday due to extreme weather conditions across several areas of the United States, according to data from PowerOutage.us. Pennsylvania was the hardest hit, with over 70,000 outages, according to the data. The utility with the most outages was FirstEnergy, where around 59,775 … Read more
Alberta and Ontario proposed the Northern Shield Energy Corridor, a crude oil pipeline and energy corridor across Canada, to reduce the country’s dependence on the US. The proposed pipeline would carry about 500,000 barrels of oil a day for domestic use and export markets, and could expand to 800,000 barrels a day. A feasibility study … Read more
Oil gained following attacks on vessels in the Strait of Hormuz, highlighting continued risks to traffic in the waterway. Brent rose toward $73 a barrel, while West Texas Intermediate was above $69. A tanker traveling south reported being hit about 8 nautical miles east of Limah, Oman, causing a fire, UK Maritime Trade Operations said. The vessel … Read more
(Reuters) – Cuba’s national electric grid collapsed on Monday at midday, the country’s grid operator said, leaving around 10 million people on the Caribbean island without power. Grid operator UNE said it was investigating the cause of the nationwide blackout. Cuba has for months suffered from hours-long, and more recently, days-long power outages linked in … Read more
(Reuters) – Alberta and Ontario on Monday proposed a new 2,050-mile (3,300-km) crude oil pipeline between the two Canadian provinces that they said would initially move 500,000 barrels per day and reduce reliance on foreign markets. * The proposed pipeline would run from Hardisty, Alberta, to refineries in Sarnia, Ontario, and could eventually move 800,000 … Read more
(Reuters) – The funeral of late Iranian Supreme Leader Ayatollah Ali Khamenei was more than a national farewell. The sea of mourners in Tehran sent a message to the United States and Israel that their attempt to break the Islamic Republic had failed. Rather than looking weakened by the war that began with U.S. and … Read more
(Reuters) – Saudi Arabia has set the August official selling price (OSP) for its flagship Arab Light crude to Asia at $1.50 a barrel below the Oman/Dubai average, an $11 cut from the previous month and the biggest drop in more than two decades, according to a Saudi Aramco pricing statement released on Monday. Reuters … Read more
(Reuters) – Iraq’s cabinet approved Basra Oil Company signing “a heads of agreement”, or preliminary agreement, and a non-disclosure agreement with a consortium including U.S. companies Capital TI and Chevron and Qatar’s UCC to study strategic oil export pipeline projects, according to a cabinet statement. The consortium will prepare technical and financial feasibility studies comparing … Read more
TrueFlow Technologies is a newly incorporated company with proven & ground-breaking technology that focuses solely on the multiphase flow measurement market as it relates to the Oil & Gas industry. The DIP Multiphase Flow Meter is a unique & disruptive technology offering accurate and reliable measurement across all well flow regimes. Whether the well is … Read more
Summary Fears over gasoline and jet fuel supplies proved overblown Record storage releases, eased Chinese buying helped the market Thinned storage must be replenished, poses risk of more price spikes (Reuters) – The world has absorbed with surprising ease the loss of over a billion barrels of oil supply since the Iran war began, but, with long-term … Read more
The decision by OPEC+ to increase crude oil production quotas for a fifth straight month from August raises two questions. Can they actually ship the increased output and if they can, who will buy it? The seven core members of OPEC+, which groups together OPEC and allied producers such as Russia, agreed at a meeting … Read more
Summary OPEC+ to raise production by 188,000 bpd from August Gulf exports rise but still below pre-war levels Oil prices fall to pre-war levels on glut fears Iraq presses OPEC+ for higher quota after UAE exit (Reuters) – OPEC+ has agreed a further increase in output targets from August, the group said in a statement … Read more
By Alex Lawler LONDON, July 3 – The Iran war has created the largest oil supply shock ever in terms of daily production losses but the 1979 Iranian Revolution remains the biggest oil crisis by cumulative supply loss, according to Reuters calculations based on International Energy Agency, OPEC and U.S. Department of Energy data. The … Read more
By Robert Tuttle Pembina Pipeline Corp. will move ahead with a C$4.6 billion ($3.2 billion) gas-fired electricity plant that will power a data center project in Alberta. The Greenlight Electricity Center, a 932-megawatt plant to be built in Sturgeon County, will serve a “major data center” development, Pembina, Morgan Stanley Infrastructure Partners and Kineticor Asset … Read more
Fracking, booming power demand and enthusiastic political support have underpinned the fuel’s rise, but for how long? By Julian Hast and Nathan Risser The transformation of the US and its economy over the last 250 years can be tracked through its energy use: An early dependency on burning wood gradually gave way to coal, and … Read more
Summary OPEC+ agrees to raise oil output by 188,000 bpd from August ADNOC sells 16 million barrels in fifth tender at wider discounts, traders say ANZ expects global oil demand to contract by 1.5 mbpd in 2026 Ukraine’s military strikes oil refineries in Russia’s Yaroslavl, Leningrad regions July 6 (Reuters) – Oil prices fell on … Read more
By API – American Petroleum Institute As America approaches its 250th anniversary, instability in the Middle East is a reminder of one of our country’s greatest modern achievements: we changed our energy destiny. A generation ago, global disruptions exposed America’s dependence on foreign energy. Today, the United States is the world’s leading producer of oil … Read more
(Reuters) – U.S. energy firms this week added rigs for a third week in a row, energy services firm Baker Hughes said in its closely followed report on Thursday. The total oil and gas rig count, an early indicator of future output, rose by 7 to 580 in the week to July 2, its highest … Read more
David Blackmon As we celebrate America’s 250th birthday, one of the finest blessings our Founders gave our nation stands out with particular clarity: the system of free enterprise. That system did not merely enable liberty and prosperity in the abstract. It unleashed the human ingenuity, risk-taking, and capital allocation that turned America into the world’s … Read more
Summary Benchmarks touched pre-war lows on Thursday Saudi Aramco shifts to spot sales in Asia Brent spread contango signals fading shortage concerns CALGARY/LONDON (Reuters) – Oil prices were little changed for the week as traders held on to hopes for a successful outcome from attempts to secure peace between the U.S. and Iran. Brent … Read more
(Reuters) – Gulf oil exports in June jumped more than 3 million barrels from May to exceed 10 million barrels per day as the U.S. military helped to keep oil flowing through the Strait of Hormuz, data showed, though exports remained 40% below pre-war levels. The United Arab Emirates led the recovery, allowing millions of … Read more
By Anushree Ashish Mukherjee and Robert Harvey Six-month Brent spread flipped to a discount Wednesday for the first time this year Rise in Strait of Hormuz flows leaves near-term glut on market Potential for storage plays is limited at current price structure, analyst says LONDON, July 3 (Reuters) – Brent crude for prompt delivery traded … Read more
G7 leaders welcome prospect of more Canadian crude in world markets By Deborah Jaremko Tanker calling at the Westridge Marine Terminal in the Port of Vancouver. Photo courtesy Trans Mountain Corporation Canada’s heavy oil has taken on a new shine as oil importers around the world continue to navigate shipping risks in the Strait of … Read more
By Afiq Fitri Alias LONDON, July 3 (Reuters Breakingviews) – The United States is again trying to lure foreign capital into Iran. A key part of last month’s ceasefire signed between Washington and Tehran was a $300 billion “reconstruction fund” for the Islamic Republic. The details may differ from a similar push in the wake … Read more
(Reuters) – Americans are revving up for the Fourth of July holiday, undeterred by gasoline prices that remain elevated and well above historical levels. The easing of tensions between the U.S. and Iran has provided some relief at the pump, reducing fears that disruptions to oil shipments through the Strait of Hormuz could send fuel … Read more
By Amanda Stephenson Summary Pipeline would carry 1 million barrels per day from Alberta to the Pacific coast Alberta said construction could begin as early as September 2027 Pipeline would give Canada more export options to Asia Pembina would hold a 10% construction stake with an option for another 10% (Reuters) – Canada announced plans … Read more
Summary US biodiesel producers operated around 77% of capacity in May, below the EPA’s 90% assumption for mandates May generated 736 million biomass-based diesel RINs versus roughly 915 million needed monthly AFPM has sued and urged lawmakers to reconsider the 2026 biofuel mandates (Reuters) – President Donald Trump’s effort to boost production of bio-based diesel and … Read more
By Jonathan Stempel July 2 (Reuters) – A divided federal appeals court on Thursday upheld a ban covering four Los Angeles-area counties on the manufacture, sale and installation of various appliances that emit nitrous oxides, rejecting claims by appliance makers and trade groups that the pollution control measure conflicted with federal law. In a 2-1 … Read more
FuelMaxx is a state-of-the-art fuel modulator device engineered to optimize diesel combustion, delivering measurable fuel savings and reduced emissions across all types of heavy-duty diesel equipment and vehicles. Designed with durability and performance in mind, FuelMaxx operates completely maintenance-free, requiring no filters, additional fluids, or routine servicing—ensuring maximum uptime and operational efficiency. By enhancing fuel … Read more
By Tim McLaughlin PJM forecast record demand of 166.2 gigawatts at about 6 p.m. EDT Thursday Wholesale power costs rose 68% to $40 billion in the first five months, PJM watchdog says Data center demand accounted for $3.8 billion of the $16.25 billion year-over-year cost increase BOSTON, July 2 (Reuters) – Largest U.S. power grid … Read more
Summary Gasoline prices remain elevated despite crude easing toward pre-conflict levels Refining margins are near 2022 highs, boosted by exports and tight supply White House scrutiny is rising as industry pushes back on pricing claims July 3 (Reuters) – U.S. oil companies are set to report their strongest quarterly profits in years, courting a … Read more
OSLO, July 2 (Reuters) – Norway’s unions representing workers on drilling rigs and floating production platforms reached a wage deal on Thursday evening, ahead of a midnight deadline to avert a strike, labour unions and the employers’ association said. The unions had threatened to call out more than 600 members employed on Transocean’s Encourage rig, … Read more
Continental Resources, Mewbourne Oil and Aethon Energy lead annual list tracking production scale and year-over-year movement AUSTIN, Texas (July 1, 2026) — Enverus, the leading energy data analytics platform, has released its annual list of the 100 most prolific private oil and gas producers in the U.S. Continental Resources held the No. 1 position with 707 … Read more
Reuters Venezuela’s oil exports fell slightly to 1.2 million barrels per day (bpd) last month from 1.24 million bpd in May as two deadly earthquakes caused minor delays at terminals operated by state-run energy company PDVSA, according to data based in tanker monitoring and company documents. Shipments to the United States rose to 630,000 bpd … Read more
UBS, on Thursday, cut its Brent crude price forecast by $25 for the September quarter to about $80 a barrel, on average, and now expects prices to hold the quarter after, citing the rise in oil flows via the Strait of Hormuz after the recent U.S.-Iran agreement. The bank also lowered its 2027 average … Read more
CALGARY, Atla, June 01, 2026 — What started with a single liquid nitrogen tank in the field has transformed routine oil and gas operations. Kathairos’ nitrogen systems have now directly eliminated one million metric tons of CO2 equivalent— and counting. Kathairos Solutions has crossed a major climate milestone: one million metric tons of CO₂e eliminated. … Read more
For the first time in nearly two years, less than half of U.S. LNG exports last month went to Europe as stronger prices in Asia and record imports by Egypt diverted cargoes, according to preliminary ship-tracking data from LSEG. The shift marks the first time since July 2024 that Europe has not taken the … Read more
Summary US, Iran talks conclude in Doha, focused on Strait of Hormuz Nigeria joins International Energy Agency as an associate member Ukrainian military hits Russian oil refinery in Kstovo July 2 (Reuters) – Oil prices fell more than 1% for the third consecutive day on Thursday as concerns over supply disruptions eased after Qatar said Iran … Read more
Activist investors pushed global companies more aggressively in the second quarter to make changes and lifted the overall pace of campaigns in the first half of 2026, Barclays data showed, as their biggest demand was for businesses to sell themselves in a rebounding deal market. Compared with the first half of 2025, activists such as … Read more
Canada’s South Bow and U.S.-based Bridger Pipeline plan to jointly develop a new oil pipeline from Guernsey, Wyoming, to Cushing, Oklahoma, the companies told Reuters on Tuesday. The project will be developed along a corridor acquired from another company, South Bow and Bridger said in an email. The companies said their priority was to engage … Read more
U.S. crude stocks fell to their lowest last week since 2018 as domestic refinery demand rose, while gasoline inventories also fell ahead of the July 4 holiday weekend, the Energy Information Administration said on Wednesday. Commercial crude inventories fell by 3.8 million barrels to 408.4 million barrels last week, the lowest level since September 2018, … Read more
Tehran says U.S. team to meet mediators in Doha, not with Iranian officials U.S. crude inventories fell by 6.1 million barrels last week, API data showed July 1 (Reuters) – Oil prices fell more than 1% on Wednesday as talks between Iran and the U.S. aimed at reaching a final agreement to end their war continued and … Read more
One stage of the Iran war has ended, but the world may be mistaking a pre-election pause for lasting peace. Tehran’s economic leverage will likely remain strong through the U.S. midterm elections in November, but could weaken once the votes are counted, raising the risk of renewed confrontation afterward. In this dangerous new environment, how … Read more
(Reuters) – U.S. Energy Secretary Chris Wright on Tuesday urged supporters of data centers at an Amazon Web Services conference to push back against critics, saying concerns about the facilities are “overblown.” Wright listed concerns that opponents have raised about the boom in the facilities including water and power use and that the artificial intelligence … Read more
(Reuters) – U.S. crude oil production rose to 13.93 million barrels per day in April, the highest on record, monthly data from the Energy Information Administration showed on Tuesday, as producers ramped up output in response to higher oil prices owing to the Iran war. Production rose by 216,000 bpd in April, EIA data showed, … Read more
(Reuters) – U.S. natural gas futures climbed about 3% on Tuesday on rising flows to liquefied natural gas (LNG) export plants and forecasts for record power demand in some parts of the country as homes and businesses crank up air conditioners to escape a brutal heat wave. Front-month gas futures for August delivery on the … Read more
(Reuters) – Investors have had to gulp down the motion-sickness tablets this year as the turmoil from the Iran war has clashed with a seemingly unstoppable boom in all things AI and otherworldly. Global stocks are now $7 trillion higher than at the end of 2025, even though the war caused a $9 trillion drop … Read more
A brief summary of the most recent Energy Institute publication By William Lacey [image] Any of you who follow me know that I love this time of year. The Energy Institute publishes a global energy summary of energy consumption (and a bunch of other data) for broad consumption by the public. What I love about … Read more
Transaction adds Frac Interference Exchange, Well Data Exchange, Production Data Exchange and AquaTrade, extending Enverus’ secure exchange network across completions, well data, production and water logistics AUSTIN, Texas (June 30, 2026) — Enverus today announced the acquisition of four exchange platforms from PDS Energy Information: the Frac Interference Exchange, Well Data Exchange, Production Data Exchange and AquaTrade. … Read more
The logo of oil and gas company Shell at a gas station in Wijchen, Netherlands, April 13, 2026. REUTERS/Piroschka van de Wouw Summary Global demand to hit nearly 700 million metric tons/year by 2050 Global LNG trade likely flat in 2026, growth to return in 2027 South, Southeast Asia to account for 40% of … Read more
by EnergyNow Editorial Staff Alberta Premier Danielle Smith is expected to lay out the next stage of her government’s push for a new West Coast oil pipeline on Thursday, July 2, 2026, as the province moves to meet a key deadline under its energy agreement with Ottawa. CTV News reported on June 29 that Alberta … Read more
Summary FCC revives effort to ban Chinese inverters, sources say Ban could come before year end, sources say Europe banned Chinese inverters from some energy projects in May (Reuters) – The Trump administration is drafting a ban on imports of foreign inverters, which connect solar projects and batteries to the grid, over concerns China … Read more
June 29 (Reuters) – Duke Energy (DUK.N) will end its offshore wind lease in the Carolina Long Bay area as part of a settlement agreement with the U.S. Department of the Interior, the department said on Monday, in the latest move by U.S. President Donald Trump to shift investments away from the renewable power source. … Read more
(Reuters) – The removal of mines from the Strait of Hormuz is to be carried out solely by Iran according to the Islamabad MoU between Tehran and Washington, Iran’s Deputy Foreign Minister Kazem Gharibabadi said in a post on X on Monday, in response to French President Macron’s comments on the subject. Emmanuel Macron said … Read more
(Reuters) – Data centers are being blamed for America’s rising electric bills. But the real issue is not that AI — and consumers in general — are boosting energy usage. The real problem is structural, and it began long before the latest infrastructure boom. Average residential electricity rates rose 6% last year — more than … Read more
Crude prices may be back near levels seen before the Iran war, but the surge in oil exports from the Middle East following the reopening of the Strait of Hormuz is creating a chaotic market that could take months to settle. The steep slide in Brent crude back to pre-war levels of around $73 … Read more
The United States accounted for about a third of the rise in global carbon emissions in 2025, as higher gas prices pushed power producers back to coal, an Energy Institute report showed. Here are highlights from the report, produced in partnership with Ember, Kearney Institute and KPMG: * U.S. coal consumption jumped 10% last … Read more
Summary Brent set for third straight month of price falls, WTI set for second Brent prices trading close to February 27 level U.S. and Iran negotiators head to Doha, but meeting uncertain Morgan Stanley cuts Brent price forecast, flags 2027 surplus (Reuters) – Oil prices were heading on Tuesday for their biggest quarterly loss … Read more
U.S. President Donald Trump said on Monday gasoline retailers must get prices down immediately and warned that there will be “big problems” ahead if they did not do so. Here are details: * “Gasoline Retailers must get their Prices down, IMMEDIATELY,” Trump wrote on Truth Social. * “There will be no gauging, which is … Read more
By Florence Tan and Emily Chow Fourth VLCC loading at Ras Tanura on Monday, data shows Iran increases oil loadings at Kharg Island, says Windward Two VLCCs head to UAE port for loading Qatari and ADNOC LNG tankers head to India and China SINGAPORE, June 29 (Reuters) – Middle East producers are pushing ahead with … Read more
(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by 5.5 million barrels to 325.7 million barrels, the lowest level since May 1983, according to data from the Department of Energy. The drawdowns are a part of a U.S. agreement to release 172 million barrels from the facility. Reporting by Arathy … Read more
By Levin Stamm US companies are set for another strong earnings season, driven by the AI investment boom and windfall profits for energy companies, according to Goldman Sachs Group Inc. strategists. Analysts expect S&P 500 earnings to surge 22% in the second quarter, a hurdle that companies should be able to clear, the team led … Read more
Funding will help advance Library’s sustainability and conservation initiatives MEDORA, N.D., June 29, 2026 /CNW/ – As America celebrates its 250th anniversary, Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) is announcing a $2.5M founding gift to the Theodore Roosevelt Presidential Library (TRPL) which opens July 4, 2026, in Medora, North Dakota. Enbridge’s … Read more
(Reuters) – An economic crisis caused by the Iran war and a fresh surge of investment by oil majors are driving Iraq’s aggressive push for a higher OPEC production quota, potentially placing it on a collision course with the producer bloc. The pressure from Baghdad adds to the challenges confronting the Organization of the Petroleum … Read more
(Reuters) – Iranian and U.S. technical teams working on the implementation of an interim peace deal are expected to meet in Doha in the coming days, a source told Reuters on Monday, after tit-for-tat weekend strikes threatened to derail the fragile accord. Mediators have established communications channels to de-escalate any incidents, and technical talks are … Read more
(Reuters) – Energy exploration has picked up sharply in Australia driven by growing Asian gas demand, technological advances and an improved investment climate, with the Iran war underscoring the urgency to develop supply, after years of sluggish spending. Quarterly oil and gas exploration spending in Australia, the world’s No. 2 liquefied natural gas producer, hit … Read more
A power outage on Sunday forced the shutdown of Venezuela’s largest refinery, the 645,000-barrel-per-day Amuay, workers from that facility said, the second refinery without electricity following two deadly earthquakes in the country. The South American nation has been struggling to provide power to industrial plants, refineries, businesses and citizens following the quakes, which have left … Read more
Summary US and Iran also agree to resume talks over Strait of Hormuz Middle East producers press ahead with loadings Brent crude fell 10.6% last week (Reuters) – Oil prices steadied on Monday as Iran and the United States agreed to halt recent hostilities in the Gulf and Middle East producers pushed ahead with … Read more
(Reuters) – Trump administration policies that have stalled permits for renewable energy projects are putting more than $121 billion of investment at risk and slowing development of wind, solar and storage capacity needed to meet rising power demand, according to a report published on Monday. The findings by energy research firm Wood Mackenzie highlighted tension between President Donald … Read more
Summary CEO Richard Jackson aims to cut debt to $10 billion Occidental to begin repaying $8.5 billion to Berkshire in 2029 Investor Bill Smead says Occidental must grow or seek a buyer (Reuters) – In not quite a month as Occidental Petroleum’s CEO, Richard Jackson has already been challenged with looking for ways to lift … Read more
This week, API launched the American Energy Security Framework — a roadmap for a stronger, more flexible energy system built on secure supply, modern infrastructure and resilience. One of its key recommendations is modernizing the Strategic Petroleum Reserve to improve delivery capability, operational flexibility and emergency readiness. America’s Strategic Petroleum Reserve Deep underground, inside enormous … Read more
Around 1,000 Norwegian oil service workers were locked out on Saturday morning in an escalation of a labour dispute that is expected to disrupt drilling and some production on the Norwegian continental shelf. The lockout was declared in response to an ongoing strike by several hundred members of the Safe union and will affect … Read more
By David Carnevali, Ryan Gould, and David Wethe Magnolia Oil & Gas Corp. has emerged as the front-runner to acquire closely held WildFire Energy for more than $4 billion in what would rank as its largest-ever acquisition, according to people familiar with the matter. The Houston-based shale producer is poised to win the auction … Read more
(Reuters) – U.S. pipeline operator Williams is in advanced talks to acquire rival natural gas pipeline operator Momentum Midstream for about $5.5 billion, Bloomberg News reported on Sunday, citing people familiar with the matter. The Tulsa, Oklahoma-based company is putting the finishing touches on an agreement to buy Momentum from private equity firm … Read more
(Reuters) – U.S. refining capacity fell by 263,000 barrels per day (bpd), or 1.43%, in 2025, driven by the planned conversion of a major Houston refinery and a Los Angeles-area plant that shuttered citing market dynamics in California, a state known for strict environmental regulations. Marathon Petroleum, based in Findlay, Ohio, continues as the largest … Read more
(Reuters) – A helicopter belonging to Saudi oil giant Aramco crashed on Sunday in Ras Tanura on Saudi Arabia’s eastern coast on the Gulf, west of the Strait of Hormuz, killing 14 nationals, the state news agency reported, adding that the cause was unknown. Aramco had resumed crude oil loadings on Friday at its Ras Tanura terminal … Read more
(Reuters) – Chevron is exploring additional data center deals across the U.S., including the Midwest, Rockies, and Gulf Coast, following its two-decade-long contract to power a Microsoft data center in West Texas, a company executive told Reuters. Oil and gas companies such as Chevron and Exxon Mobil are angling to profit from the record-high electricity … Read more
By Joey Roulette SpaceX plans to start building 8-mile pipeline next month Project would fuel more launches of Starship moon rocket Pipeline is part of sprawling SpaceX gas plans in Texas WASHINGTON, June 25 (Reuters) – SpaceX (SPCX.O) plans to begin next month building an eight‑mile (13-km) natural gas pipeline called “Starpipe” to its Texas … Read more
(Reuters) – The U.S. diesel futures crack spread, a measure of profitability for refiners, hit a three-week high as analysts said supply tightness for the product is set to persist even after a preliminary deal was reached to end the Iran war. The crack spread, calculated as the difference between the price of U.S. ultra-low … Read more
Aramco resumes Ras Tanura oil loadings after four-month halt Strait of Hormuz loadings at highest level since war began Overall traffic is still a small fraction of pre-war daily average HOUSTON, June 26 (Reuters) – Crude prices fell by more than 3% on Friday, on course for steep weekly losses, as oil tankers kept exiting … Read more
(Reuters) – U.S. energy firms had the biggest weekly increase in rigs since June 2022, energy services firm Baker Hughes said in its report on Friday. The total oil and gas rig count, an early indicator of future output, rose by 10 in the week to June 26, the largest weekly jump in four years. … Read more
By Stella Mackler US natural gas futures settled much lower in the final day of trading for the July contract as midday forecasts shifted to show cooler weather compared with overnight outlooks. Individual transactions moved the market more amid a drop-off in liquidity near expiry. Losses were likely limited as flows to liquefied natural gas … Read more
(Reuters) – UAE Foreign Minister Sheikh Abdullah bin Zayed on Friday stressed the need to protect maritime corridors and ensure freedom of navigation through the Strait of Hormuz in a call with his Iranian counterpart Abbas Araqchi. The exchange, reported by state news agency WAM, marks a rare public contact between Abu Dhabi and Tehran … Read more
(Reuters) – Barclays on Friday cut its Brent crude price forecasts to $96 per barrel for 2026 and $85 per barrel for 2027, down from $100 and $88 respectively, after an increase in oil flows through the Strait of Hormuz. Crude prices were on course for weekly losses, as more oil tankers exited the strait, … Read more
(Reuters) – Iran reasserted its right on Friday to control shipping in the Strait of Hormuz and warned Gulf states against siding with the U.S., a day after an attack on a ship near Oman highlighted the fragility of a preliminary deal to end the Iran war. Tehran was responding to what it called an … Read more
Ukraine has stepped up attacks on Russian energy facilities in recent months, targeting the country’s infrastructurein a war now well into its fifth year. The drone attacks are worsening fuel shortages in Russia, where people have reported rising prices and long queues at the filling stations across most regions. Following is a summary of the … Read more
Summary Solar companies rushed to secure tax credits before deadline, creating a years-long project pipeline Early data shows ending subsidies could raise renewable energy prices 40–120% Project developers say solar will be competitive without tax credits as electricity demand and prices surge (Reuters) – U.S. solar developers have secured federal subsidies for a wave of … Read more
Summary Crude oil prices headed for steep weekly loss Tankers coming into the Gulf to pick up cargoes Overall Hormuz traffic still not close to pre-conflict levels (Reuters) – Fewer vessels transited the Strait of Hormuz on Friday than earlier this week, hours after a Taiwanese-operated ship was fired on by Iran, ship tracking data … Read more
Summary Aramco resumes Ras Tanura oil loadings after four-month halt Strait of Hormuz loadings at highest level since war began Overall traffic remains a fraction of previous daily average (Reuters) – Crude prices plunged by more than 3% on Friday, on course for steep weekly losses, on easing supply concerns as more stranded oil tankers exited the … Read more
By Tim McLaughlin ICF forecasts 445 GW of US capacity additions through 2030 Those additions equal about 191 GW at peak demand, ICF said ICF estimates the US has 26 GW of excess generating capacity above minimum reliability needs BOSTON, June 25 (Reuters) – U.S. electric grid’s rapid buildout is expanding at a pace that … Read more
By Robert Cyran NEW YORK, June 25 (Reuters Breakingviews) – Tales of grizzled wildcatters are captivating, but oil production boils down to an industrial process for spinning geology and capital into profit. Giants such as Exxon Mobil and Chevron are all about grinding out asset values in a mature industry. Just look at their actions … Read more
(Reuters) – Vessels passing outside routes set by the Persian Gulf Strait Authority, a body set up by Iran to manage the Strait of Hormuz, will not be guaranteed safe passage, the authority said in a post on X on Thursday. “Consequences arising from passage through unauthorised routes shall be the responsibility of the owner, … Read more
By Scott Disavino Two U.S. officials told Reuters Iran fired on the cargo ship near the Strait of Hormuz The UN maritime agency paused its Hormuz ship evacuation effort after the suspected attack Rystad says Gulf storage is 50%-60% full, risking output curbs if traffic lags NEW YORK, June 25 (Reuters) – Oil prices rose … Read more
By America Hernandez Court rules ‘duty of vigilance law’ applies to climate risks Judges stop short of imposing binding business measures Prosecutors had said law should not apply to climate change Total will comply but is considering its legal options PARIS, June 25 (Reuters) – French oil major TotalEnergies (TTEF.PA) must disclose the climate risks … Read more
(Reuters) – A cargo ship reported a suspected attack as it attempted to pass through the Strait of Hormuz close to the coast of Oman on Thursday, British navy agency UKMTO said. The UN’s International Maritime Organization is currently assisting ships escape the Gulf, hundreds of which have been stranded there since the Iran war … Read more
By Nicole Jao and Ashitha Shivaprasad NEW YORK, June 25 (Reuters) – A fire was extinguished in a process unit pump room at Monroe Energy’s 190,000-barrel-per-day refinery in Trainer, Pennsylvania, on Thursday, the company said in a statement. The exact cause of the fire is unclear at this time, the company said, adding the incident … Read more
(Reuters) – Peace in the Gulf may ease pump prices, but not the Federal Reserve’s bigger problem: a U.S. economy that may already have been overheating before the Iran war. If oil retreats to pre-war levels, it could even spur demand at a critical juncture and worsen cost-of-living fears. That sounds like a “damned if … Read more
(Reuters) – Iraq’s oil ministry said on Thursday that reports suggesting Baghdad was considering ending its membership in OPEC did not reflect the Iraqi government’s official position. The ministry added that Iraq continued to stress the importance of reviewing oil production quotas to ensure they are aligned with member states’ sustainable production capacities. Reporting by … Read more
By Jonathan Saul and Florence Tan Shipments through Hormuz rise after ceasefire deal Concerns about how long waterway will stay open also boost trade Difficult to estimate exact volume of trade Overall sailings still a fraction of pre-war daily average UN agency launched scheme this week to evacuate vessels trapped in Gulf LONDON/SINGAPORE, June 25 … Read more
By Colleen Howe BEIJING, June 25 (Reuters) – China is aiming for half of its electricity to come from non-fossil sources by 2030, up from a 42.3% target for 2025, according to a five-year plan for the energy sector released on Thursday. Here are other key points from the plan: China is aiming for wind … Read more
(Reuters) – UBS on Thursday cut its Brent crude forecasts to $85 a barrel for end-September and end-December, from $105 and $95 respectively, and said a recovery in oil production from the Iran war was likely to be slower than the market expects. An interim deal last week to end the U.S.-Israeli war on Iran, … Read more
(Reuters) – Some 57 ships carrying an estimated 1,100 seafarers have transited the Strait of Hormuz since June 23 under a United Nations evacuation plan launched this week, data from the U.N.’s shipping agency showed on Thursday. These are the first numbers to be released by the U.N.’s International Maritime Organization for the initiative, which … Read more
Summary Focus on cost blowouts, inflation as shares retreat from record high Craig said he would consider bolt-on deals that deliver value Deal-hungry Glencore in the background Eyes on possible senior executive departures (Reuters) – Newly minted BHP CEO Brandon Craig faces a crowded in-tray as he takes mining’s top job on July 1, from threatened … Read more
Summary Iraq is OPEC’s second-largest producer Iraq’s economy under strain after Hormuz disruption Iraqi exit would be a blow to the oil exporters’ group OPEC was founded in the Iraqi capital Baghdad BAGHDAD, June 25 (Reuters) – Iraq has considered leaving OPEC if the oil producer group does not allow Baghdad to significantly increase oil … Read more
Summary Brent, WTI hit lowest since February 27 Goldman Sachs says no significant pick-up in Iranian production expected Iraq to consider all options if OPEC quota not raised, sources say Iraq also weighed OPEC exit, sources say (Reuters) – Oil prices fell on Thursday to levels last seen before the start of the Iran war … Read more
HOUSTON, June 24 (Reuters) – U.S. crude stocks at Cushing fell to a near 12-year low last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 6.1 million barrels to 412.1 million barrels in the week ended June 19, their lowest since January 2025, the EIA … Read more
(Reuters) – U.S. Secretary of State Marco Rubio held talks with the United Arab Emirates leader on Wednesday during a Middle East tour, seeking to reassure Gulf allies who view a proposed Iran peace deal as too soft on a regional power that attacked them in the war. The U.S.-Iran accord reached last week — … Read more
Summary Trump names Exxon Mobil and Chevron as part of probe ino gasoline prices US gasoline averaged $3.93 a gallon on Wednesday, AAA data showed US crude prices have fallen 36% from their May peak June 24 (Reuters) – U.S. President Donald Trump said on Wednesday he has instructed the Department of Justice to look … Read more
Venezuelan crude oil exports could rise to 2 million barrels per day by the end of U.S. President Donald Trump’s administration, roughly double current levels, Energy Secretary Chris Wright said on Wednesday at the Reuters Global Energy Forum in New York. (Reporting by Liz Hampton, writing by Richard Valdmanis)
(Reuters) – J.P. Morgan on Wednesday lowered its second-half 2026 Brent crude oil price forecast due to lower-than-expected OECD commercial inventory draws and lower demand for oil. The bank sees Brent averaging $86 per barrel in the third quarter, $80 in the last quarter, and expects to exit 2026 at $78, according to a research … Read more
The Nuclear Regulatory Commission has made changes to lower the burden for applicants and speed up approvals By Mathieu Dion The surge in new data centres for artificial intelligence is translating into growth for the United States electricity sector, and Canadian nuclear company AtkinsRealis Group Inc. wants in. The Montreal-based company has filed a notice … Read more
(Reuters) – Physical crude oil cargoes are selling at discounts across the globe, changing trade flows as markets come under pressure from fast-rising Middle Eastern supply with Iran set to boost sales following a temporary reprieve from U.S. sanctions. The steep drop in prices follows the 60-day interim deal between the U.S. and Iran to … Read more
(Reuters) – Japan’s JERA expects liquefied natural gas prices to remain relatively firm in the near term, as restoring Qatar’s LNG facilities damaged during the Iran war will take time and Europe needs to replenish stocks ahead of winter, its chairman said. “Looking over the next year or so, prices may well hold up fairly … Read more
(Reuters) – The latest bout of political turmoil in Britain comes as energy security has moved front and centre following the Iran war, offering the next prime minister a chance to rethink the country’s North Sea oil and gas strategy. Andy Burnham, who is poised to succeed Prime Minister Keir Starmer following his resignation earlier … Read more
(Reuters) – Around 1,150 cargo-carrying ships with an estimated vessel and freight value of $125 billion and as many as 20,000 seafarers are waiting to resume operations in the Gulf after the Iran war shut the Strait of Hormuz, Allianz Research said on Wednesday. “Even if the US and Iran agreement holds and the Strait … Read more
(Reuters) – Three stranded tankers carrying 5 million barrels of crude oil were exiting the Strait of Hormuz on Wednesday, with two heading to Asia, shipping data showed, as the interim deal between Iran and the U.S. unlocks more supply stuck in the Gulf, bringing down global prices. South Korean-flagged VL Breeze, a Very … Read more
Summary CFOs cut expected US economic growth to 1.8% from 2.1% in quarterly Fed poll Firm-level optimism rose while hiring plans remained steady, the survey showed Firms saw little hit to demand during months of high oil prices PCE data on Thursday expected to show inflation jumped in May (Reuters) – The U.S.-backed war against … Read more
(Reuters) – The U.S. has started waiving some sanctions on Iran under their interim deal to end the war, but fully unravelling a tangled web of restrictions on the country’s activities and trade under any more comprehensive agreement will be much harder. This is why any effort to lift sanctions on Iran could take years … Read more
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