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The U.S. Army Just Called China’s Bluff in the Rare Earth War

Just recently, in a span of about six weeks, one impressive company was selected by the U.S. Army to build and operate rare earth processing facilities on an American military base…the first time the Army has ever done this. That same company closed $100 million in institutional financing, giving it a war chest of roug

Oil Prices Ignore the Warning Signs in Physical Markets

Oil price movements since the start of March this year have become the topic of dozens of discussions. Many have been puzzled by futures prices and why they haven’t gone through the roof given the severe disruption in Middle Eastern supply. It appears the reason is sheer optimism and a bet on market adaptability. Howev

The World’s Largest Sand Battery Is Now Online

Modern power grids require a constant, real-time balance between supply and consumption. Unfortunately, the integration of wind and solar energy makes power grids unstable due to the intermittent nature of renewable energy generation. To prevent localized grid blackouts or harmful voltage spikes, utilities are increasi

Refined Fuels, Not Crude, Are Driving the Oil Market Crunch

Oil prices have just come off a fresh two-month high as the crude oil market has tumbled this week amid signals of de-escalation in the U.S.-Iran conflict. Despite the slump in crude prices and the extreme volatility in the past five months, the refined product market continues to tighten with refining margins at recor

Australia to Study First New Oil Refinery Since 60s

Prime Minister Anthony Albanese Tuesday announced a study for a new refinery in Karratha in Western Australia, backed by A$4 million ($2.8 million) of government funds.

US Crude Oil Inventories Build Again Despite Hormuz Disruption

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 3.296 million barrels in the week ending July 24. In the week prior, US crude oil inventories grew by 2.603 million barrels. Commercial crude oil inventories excluding the SPR have lost just over 54 million barrels

Oil Tumbles on Diplomatic Optimism

Crude futures posted their biggest three-day decline since 2020 as hopes for diplomacy with Iran reduced supply concerns.

New Solar Cell Design Solves A Problem That's Plagued Panels for Decades

Solar power is far and away the cheapest form of new energy to install in nearly every context around the world. Even in the United States, where the cost of solar additions has jumped up 18 percent since Trump’s tariffs took hold, solar remains the most affordable option for energy capacity expansion. It stands to rea

OPEC+ Prepares to Stop Raising Oil Output Targets

OPEC+ is preparing to approve one more production increase for September and then put the monthly quota parade on hold through the end of the year. Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman are expected to raise their combined September target by about 188,000 barrels per day when they meet on A

U.S. Sale Of Venezuela’s Oil Hits $13 Billion Since Trump’s Takeover

President Donald Trump revealed on Monday that sales of Venezuela’s oil by his administration have generated more than $13 billion since the capture of former President Nicolás Maduro on January 3, claiming that the revenue has effectively “paid for that war many times over”. Speaking to reporters on Air Force One, Tru

Saudi Aramco Shuts 400,000-Bpd Refinery After Houthi Strike

Saudi Aramco shut its 400,000-barrel-per-day Jazan refinery on July 27 after a Houthi attack damaged the facility, according to an IIR note seen by Reuters. IIR said the strike damaged the refinery’s Integrated Gasification Combined Cycle complex and tank farm. Repairs are tentatively expected to be completed by August

Central Asia Seeks New Trade Route to Pakistani Ports

Uzbekistan appears to be hedging its bets when it comes to Afghanistan’s ability to serve as a trade corridor. Over the past year, Tashkent has ramped up its engagement with Afghanistan, setting an ambitious target of almost tripling annual bilateral trade volume over the next few years. Uzbek President Shavkat Mirziyo

Why Did Trump Just Give Saudi Arabia the Fast Track to a Nuclear Weapon?

At the beginning of Donald Trump’s first term as U.S. President in 2017, a senior White House official commented off-the-record to OilPrice.com that: “We’re not going to put up with any more crap from the Saudis.” The comment had followed the end of the 2014-2016 Oil Price War that had seen the Kingdom rally its fellow

Defense Tech Investment Hits Record High as Arms Giants Ramp Up Startup Funding

Investment in defence tech start-ups has reached a record high this year as the world’s biggest arms companies step up spending on new military technology. New figures from Dealroom show defence contractors including BAE Systems, Lockheed Martin and Airbus have participated in $4.1bn (£3bn) of venture capital funding r

Hitting EU Renewables Targets Could Slash Gas Demand a Quarter by 2030

The European Union could save a lot on LNG imports by 2030 if it achieves its heat pump, solar, and wind installation targets…so much so that the bloc could save twice the gas it imports from Qatar, the Institute for Energy Economics and Financial Analysis (IEEFA) said on Tuesday. IEEFA, which advocates for an accelera

Oil Prices Retreat, But the Strait of Hormuz Remains the Wild Card

Trump's latest comments cooled oil prices, but talks over ending the Strait of Hormuz blockade could prove far more consequential. Hedge Funds Pile Back into Oil as Chokepoint Risks Return - The signing of the US-Iran Memorandum of Understanding triggered one of the largest hedge fund sell-offs for crude futures and op

North America Enters Rig Addition Streak

North America added five rigs week on week, according to Baker Hughes' latest North America rotary rig count.

Senators Announce Deal on New Russia, Iran Sanctions Bill

A bipartisan group of senators announced a deal Tuesday.

Tata Power Targets 2032 for India's First Private Nuclear Plant

Tata Power, one of India’s biggest integrated power utilities, plans to build its first nuclear power plant by 2032 as the country opens the civil nuclear sector to private companies, CEO Praveer Sinha told Bloomberg Television in an interview on Tuesday. “What we can expect is that early part of 2028 we will start pos

States Oppose FERC Plan to Widen Blanket Gas Pipeline Permitting

Over a dozen states and the District of Columbia protested a proposed 'rulemaking' by the Federal Energy Regulatory Commission to broaden the kinds of gas pipeline projects that qualify for review exemptions.

Baker Hughes Posts Nearly 50 Percent YoY Increase in Orders

Baker Hughes saw 'robust demand across Power Systems and LNG, with particularly strong momentum in power generation'.

Oil Market Rapidly Strips Out Iran War Premium

Oil prices dropped yesterday and today as the market rapidly stripped out its Iran war premium, Petros Pantzari, Chief Dealer at Monaxa, said.

Barossa Ships First Condensate Cargo to South Korea

The shipment of about 300,000 barrels will be delivered to a refinery in Incheon.

Tributes Pour in for Sir Ian Wood

Tributes have poured in for Sir Ian Wood following news that the Aberdeen-based businessman has passed away.

Eni Greenlights Cyprus' First Hydrocarbon Project

Expected to start production 2028, the Cronos field is designed to produce up to 500 million cubic feet per day of gas, which will be processed into liquefied form in Egypt for export mainly to Europe.

Oil Tankers Reroute to Egypt amid Houthi Threat

Empty supertankers are heading to Egypt's Mediterranean port of Sidi Kerir to collect Saudi crude as observable traffic at the kingdom's key Red Sea export hub dwindles following threats from Houthi militants.

The Next Fort Knox? Why the Army is Going All-In On Rare Earths

In 1937, the Army guarded the first shipments of a critical resource, U.S. gold, as it was transferred into Fort Knox. Nearly 90 years later, Washington faces a similar situation with a very different resource. The Army picked REalloys (NASDAQ: ALOY) to build a facility to process dysprosium and terbium at Utah’s Tooel

$100 Oil Puts Big Tech’s $725 Billion AI Bet at Risk

Crude oil prices are retreating after Brent hit $100 again last week as the United States and Iran took a break from hostilities over the weekend. Yet with the outcome of the war still highly uncertain, the outlook for stock markets has dimmed. Add to that Big Tech’s AI spending binge and fresh warnings about energy co

Jet Fuel Spike Blows a Hole in Airline Profit Forecasts

The fresh spike in jet fuel prices in July upended the profit guidance of U.S. airlines, whose management teams had to readjust earnings estimates for the year just days ahead of reporting second-quarter results. The re-escalation in the Middle East earlier this month resulted in a 20% spike in jet fuel prices during t

The U.S. Is Walking Into Iran’s Escalation Trap

“I feel like a jackass caught in a Texas hailstorm -- I can’t run, I can’t hide and I can’t make it stop.” U.S. President Lyndon B. Johnson’s desperate comment to aide, Bill Moyers, came after a massive and sustained aerial bombing campaign in North Vietnam -- codenamed ‘Operation Rolling Thunder’ -- had failed in its

Brent Tumbles Nearly 9% on Diplomacy

Oil prices plunged as the US paused strikes on Iran and supply concerns eased with resumed Kazakh exports.

Expand Energy to Buy Twin Eagle for $1.25B

Expand Energy Corp. agreed to buy gas marketer Twin Eagle Holdings NA LLC from private equity firm Five Point Infrastructure for $1.25 billion.

What If the Most Valuable Part of an EV Isn't the Car?

Rapid depreciation in China's electric vehicle market is often portrayed as evidence that EVs are becoming disposable consumer electronics. Yet the opposite may prove true. While the vehicle loses value, the battery increasingly becomes a long-lived energy asset with multiple commercial lives ahead of it. For decades,

The Trade Routes Iran Cannot Afford to Lose

The future of relations between Central Asian republics (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan) and Iran under a government now dominated by the Islamic Revolutionary Guard Corps (IRGC) is likely to feature pragmatic economic and transit cooperation amid heightened caution, with short-term disrup

A Skeptical Look at Elon Musk's AI Utopia

Our tech overlords tell us that artificial intelligence will soon create a world of abundance while solving our major problems such as climate change. Just so you know who I'm talking about, I have previously defined our tech overlords as "a grab bag of technology companies, technology scientists and inventors, and tec

Kazakhstan Restarts CPC Oil Exports After Week-Long Black Sea Shutdown

Kazakhstan resumed crude exports through the Caspian Pipeline Consortium (CPC) on Monday after the operator reopened its Black Sea marine terminal and resumed accepting crude from producers following a week-long suspension triggered by drone attacks, Kazakhstan’s Astana Times reported. Two tankers were loading crude fr

Nvidia's $250 Billion OpenAI Guarantee Puts AI Capex Concerns Back in Focus

Nvidia is in early talks to provide up to $250 billion in financing guarantees to help OpenAI lease computing capacity from a planned $500 billion, 10-gigawatt data center facility in Ohio, according to Bloomberg, citing people familiar with the matter. The proposed deal highlights investor concerns that the AI bubble

China to Resell First US LNG Cargo in a Year Instead of Importing It

Chinese buyers that received the first U.S. LNG cargo in over a year plan to resell it on another market to profit from higher prices elsewhere and avoid paying a 25% tariff, sources familiar with the plans told Bloomberg on Monday. The Yangpu port in south China earlier this month received a cargo of U.S. LNG from the

Leaked UK Grid Report Warns Net Zero Push Raises Blackout Risks

The UK’s net zero push risks leaving the country with higher electricity bills and more susceptible to blackouts, according to a leaked report commissioned by the national grid system. The report, produced by energy consultancy firm Cornwall Insight for the National Energy System Operator (Neso) and shared with The Tim

TotalEnergies to Appeal Court Order to Adapt Business to Climate Goals

TotalEnergies will appeal a landmark decision of the Paris Judicial Court from last month, which ordered the French supermajor to align its business to climate change goals as it held it responsible for climate change. In a statement on Monday, TotalEnergies said that it had decided to appeal the ruling, rendered under

Halliburton Bags Spate of Middle East Contracts in July

Halliburton announced a spate of contract awards in the Middle East this month.

Pentagon Suppliers Warn U.S. Won't Have Magnet Capacity By 2027

The Trump administration is weighing whether to extend access to some Chinese rare earth materials beyond the January 1, 2027 cutoff after U.S. producers acknowledged they cannot build sufficient domestic processing and magnet capacity before the deadline, Reuters reported on Monday. Industry executives and Pentagon su

Brookfield to Acquire Blackstone BESS Portfolio in North America

The transaction represents an enterprise value of around $7 billion and an equity value of $3 billion.

CPC Oil Terminal Resumes Kazakh Crude Exports

The main terminal for exporting Kazakhstan's oil resumed loadings after drone attacks on vessels caused an output cut last week.

Indian Refinery MRPL Bars Crude Suppliers From Hormuz, Red Sea Routes

India’s Mangalore Refinery and Petrochemicals Ltd. (MRPL) has become the first Indian refinery to tell crude suppliers to avoid both the Strait of Hormuz and the Red Sea, inserting the restriction into a spot tender for up to 1 million barrels of crude. The tender seeks cargoes for delivery between August 25 and Septem

Temporary Calm in Iran Conflict Masks Risk of Broader Middle East War

Tehran said it had halted retaliatory attacks against US allies in the Middle East as Washington refrained from attacking Iran for the second night in a row. A top military official in Tehran, meanwhile, threatened to widen Iran’s attacks across the region, suggesting that Iran-allied Houthi rebels in Yemen could step

Oil Price Action Telling a Nuanced Story, JPM Says

'Price action...is telling a more nuanced story', J.P. Morgan analysts said.

US DOE Seeks Innovations on Pipeline Efficiency, By-Product Conversion

The Energy Department launched a funding opportunity of up to $65.5 million for research, development and deployment projects that maximize pipeline productivity and value creation from oil and gas by-products.

Woodside's Browse Gas Project Declared State Priority

The Western Australian government granted the Browse to North West Shelf Project, which would connect three offshore fields to the existing Karratha plant, a State Significant Project status, operator Woodside said.

Brent, WTI Oil Prices Both Down Over 5 Percent

'The immediate decline reflects a reduction in the geopolitical premium', Naeem Aslam, CIO at Zaye Capital Markets, said.

Kuwait Agrees $16B Pipeline Leaseback with Blackstone, Brookfield, KKR

Kuwait Petroleum signed a record $16-billion partnership agreement allowing three major North American investors to own minority stakes in its entire domestic and export pipeline network.

Lull in Fighting as Iran Holds Hormuz Talks with Oman

The U.S. paused an almost two-week run of strikes against Iran for a second night while the Islamic Republic signaled it was refraining from any retaliatory attacks and held talks with Oman over the Strait of Hormuz.

Oil Prices Plunge 5% After U.S. and Iran Halt Attacks

Oil prices plunged by more than 5% in early Asian trade on Monday as the U.S. and Iran halted attacks after two weeks of escalation that had driven Brent above $100. At the time of writing, WTI crude was trading at $84.47, down 5.39%, while Brent crude had fallen to $91.80, a decline of 5.15%. The retreat came after Wa

China’s Rare Earth Strategy Is Forcing a U.S. Manufacturing Revolution

Beijing is now desperately attempting to bring rare earth manufacturing back inside its own borders, exclusively. New Chinese export restrictions specifically target American plans to begin the country’s first commercial production of rare earth magnet materials by 2027. To counter that move, REalloys (NASDAQ: ALOY) is

Standard Chartered: Oil Markets Must Now Price Two Middle East Chokepoints

Oil prices gave up earlier gains on Friday after reports that Pakistan is trying to broker a return to U.S.-Iran nuclear negotiations. China is strongly backing the effort as the conflict and the closure of the Strait of Hormuz continue to threaten its energy security and weigh on its economy. Brent crude for September

U.S. Jet Fuel Costs Soar as Iran War Hits Airlines Again

U.S. airlines are grappling with soaring jet fuel costs again after the return of hostilities in the Middle East shattered the three-week-long U.S.-Iran ‘deal to make a deal’ and sent Brent crude oil prices soaring past $100 per barrel again. The U.S. jet fuel market has been tightening since March, although there have

Argentina’s Oil Production Soars as Vaca Muerta Breaks New Records

Argentina’s massive shale oil and gas boom is going from strength to strength. The economically crisis-prone South American country yet again reported record monthly oil and natural gas production for May 2026. This couldn’t come at a better time for Argentina and South America. Rising global geopolitical risks, notabl

Molten Salt Reactors Just Cleared A Major U.S. Regulatory Hurdle

domestic nuclear energy sector is set to bounce back as the technology finds favor among the public and policymakers alike for its ability to provide round-the-clock clean energy. At a time when data center hyperscalers are driving up energy insecurity and climate deadlines are drawing ever closer, the nuclear option i

Oil Market's Glut Narrative Just Blew Up

Less than a month ago, analysts were warning of a looming glut of crude oil as tanker traffic via the Strait of Hormuz began to recover amid a U.S.-Iran ceasefire. Within days of these warnings, the ceasefire was a painful memory, missiles were flying again, and now Yemen’s Houthis are striking tankers in the Red Sea,

Australia’s Clean Energy Boom Is Gathering Speed

Australia has big renewable energy ambitions and is well on its way to shifting dependence away from coal to cleaner alternatives. Having long depended on coal, the government now aims to establish a more diverse energy mix to ensure that Australia can be energy self-sufficient in the years to come, while supporting a