EUROPE GAS - European gas prices increase on fear of LNG shortage
LONDON - Benchmark European wholesale gas prices increased on Wednesday morning after reports that Iran had laid mines along the 'Strait of Hormuz' raised concerns about liquefied gas supply. The conflict in the Middle East would also last a lot longer than expected.
Gulf of Mexico Oil and Gas Auction yields Far Fewer Bids Than First Trump Sale
According to a document posted on the government's website, the second auction of oil and natural gas leases in the Gulf of Mexico by the Trump administration in three months drew far less interest from the industry than the one held in December. Oil…
Patterson-UTI, an oilfield services firm, says that higher oil prices won't spur more US production.
Andy Hendricks, CEO at?oilfield service company 'Patterson-UTI', stated on Tuesday that a surge in energy costs caused by the war between the United States and Israel with Iran would not lead to an increase in U.S. production of oil without the necessary market predictability.
Iran War causes major disruptions in oil and gas
U.S. and Israeli war against Iran, and the attacks of Iran on Gulf neighbours has caused oil and natural gas production to stop in the Middle East. The Strait of Hormuz is the world's most important oil artery. It handles 20 percent of the global oil and LNG supplies.
Qatar is looking to strengthen its security partnership with the US following Iran's attacks
Qatar wants to strengthen its defense partnership with the United States after Iranian air strikes on Qatari territory, said the spokesperson for the Foreign Ministry on Tuesday. Qatar also sees the current deal as a deterrent. Iran launched drone and…
VEGOILS - Palm oil drops more than 3%, as crude and rival oils slump
Malaysian palm futures dropped more than 3% on Monday, following declines in rival edible oils traded in Dalian, Chicago and Dalian markets, as well as crude oil. This was a day after they had posted their largest jump in three-years. The benchmark…
EUROPE GAS - European prices fall in line with crude oil as Middle East hopes for de-escalation are raised
Dutch and British wholesale gasoline prices fell from their 3-year highs in the morning of?Tuesday, mirroring oil market movements after?U.S. Donald Trump claimed that the Middle East conflict would end "soon". Data from Intercontinental Exchange (ICE)…
Aramco warns of 'catastrophic' consequences for oil in the Strait of Hormuz if shipping is not resumed
Saudi Arabia's Aramco, the world's largest oil exporter, said on Tuesday there would be "catastrophic" consequences for the oil markets of the world if the Iran War continues to disrupt shipping through the Strait of Hormuz. Aramco CEO Amin Nasser said…
Palm oil falls as crude and rival oils slump
Malaysian palm oil futures declined on Tuesday, following rival edible oils in Dalian and Chicago and crude oil prices. By midday, the benchmark palm oil contract for May delivery at the Bursa Malaysia Derivatives Exchange had fallen 106 ringgit or 2.32% to $4461 ringgit (1…
Report: US solar installations will drop by 2025 as a result of Trump's policies.
A study released on Tuesday showed that the U.S. market for solar energy added fewer installations in 2025 than the previous year. This is due to the fact that President Donald 'Trump' scrapped tax breaks and subsidies for renewable energy developers.
Bloomberg News reports that oil magnate Sargeant's firm loaded 1 million barrels of oil for China.
North?American Blue Energy is a company that has been backed by the United States. Harry Sargeant III is a renowned energy magnate who has made a decision to export?1,000,000 barrels of?Venezuelan oil for delivery into China. Bloomberg News reported this on Monday, citing an official document.
Iran War causes major disruptions in oil and gas
U.S. and Israeli war against Iran, and Tehran's attacks upon Gulf neighbours has caused oil and gas?exports to be disrupted and production stopped. Sources say that Saudi Aramco, the world's largest oil producer, cut its output Monday. The Strait of Hormuz is the most important oil artery in the world…
Iran War threatens to hit global energy markets for a long time
Even if the U.S. and Israel's war against Iran ends soon, consumers and businesses around the world could face weeks or even months of higher fuel costs as suppliers deal with damaged facilities and logistics and increased shipping risks. This outlook…
The Iran War threatens to have a long-lasting impact on global energy markets
Even if the conflict with Iran ends soon, consumers and businesses could face weeks or even months of higher fuel prices. This is because suppliers are dealing with damaged facilities, disrupted logistic, and increased risks in shipping. This outlook…
Japanese stocks set to drop the most in 11 months this week on Middle East conflict
The Japanese stock market suffered its steepest weekly?drop since almost a full year on Friday as?the Middle East conflict? severely disrupted oil traffic through the Strait of Hormuz. This?crippled supply? and pushed investors away from?risk? to cash.
Source: India wants US marine coverage for Middle East energy cargoes
India and the United States are in discussions to secure marine coverage for vessels that ship oil from the Middle East. New Delhi is seeking to protect buyers from possible supply disruptions due to the Gulf crisis. The official who didn't want to be named said that "so far…
Oil companies reject Trump Administration's Alaska Offshore Auction
The Trump administration sold more than 400,000 acres (406,876 hectares) of land in Alaska's Cook Inlet on Wednesday, but no oil and gas drillers showed up. They refused to make a bid.The One Big Beautiful Bill Act of U.S. president Donald Trump, which was signed into law in 2017…
Trump meets with tech giants to discuss energy pledges ahead of midterm elections
The U.S. president?Donald Trump will meet with leaders of technology companies on Wednesday, including 'Google, Meta and OpenAI. They are expected to formalize an agreement to protect consumers from the rising costs of electricity due to the rapid growth of data centers that use a lot of energy.
US auctions oil and gas drilling in Alaska's Cook Inlet
The Trump Administration will on Wednesday 'offer over 1 million acres (404,686 ha) of Alaska's Cook Inlet?to?oil & gas explorers. This is a key test to see if the industry wants to invest in this region. This is the first auction of six Alaskan offshore oil and natural gas auctions that will be held by?U.S.
Source: Russia is ready to divert oil from Middle East to India due to Middle East conflict disrupting flows.
An 'industry source' with direct knowledge said that Russia was ready to divert oil from the Middle East to India in order to counter supply disruptions. About 9.5 million barrels of Russian crude are currently on vessels near Indian waters, and could arrive within weeks.