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A decade ago, the United States was only beginning to emerge from an energy outlook that had once assumed steadily rising dependence on imported natural gas. For years, the prevailing concern was that domestic production would struggle to keep pace with demand, leaving the country increasingly reliant on liquefied natural gas brought in from overseas. That expectation proved badly wrong.…
Japan is expected to overtake China as the world’s largest importer of liquefied natural gas (LNG) this year, for the first time since 2022, as high LNG prices and sufficient storage in China limit purchases, analysts at ICIS and Kpler say. Japan’s LNG demand will exceed, albeit slightly, demand in China, according to estimates by the consultancies compiled by Reuters. Imports into Japan are…
Europe’s benchmark natural gas prices have topped 101 euros per megawatt-hour (MWh) for the first time since the 2022 crisis as winter looms amid historically low European gas storage levels. The front-month price at the Dutch Title Transfer Facility (TTF), the benchmark for Europe’s gas trading, surged by 4% as of 9 a.m. in Amsterdam on Friday. The TTF price was on track for an 8% weekly gain…
Four days after Russia launched its all-out effort to subjugate Ukraine, the US government and other Western allies fired a broadside of financial sanctions aimed at punishing the Kremlin’s wallet for the assault. The Russian Central Bank was prominent. So was a multibillion-dollar sovereign wealth fund that the Kremlin calls the Russian Direct Investment Fund, or RDIF. The U.S. Treasury called…
Japan’s government on Friday decided to tap $7 billion from its contingency reserves to keep subsidies for gasoline and other fuels, even as it plans to gradually scale back the support from December. The Japanese government decided today to allocate about $7 billion (1.1 trillion Japanese yen) from the reserve funds to continue capping retail gasoline prices amid soaring oil and fuel import…
Exclusive-Fluor Corp among US firms vying for Kenya critical minerals project, minister says
Tensions in the Middle East are escalating again as a tanker was reported on fire after explosive devices were attached to its hull while the vessel was attempting to transit outbound in the Strait of Hormuz. The UK Maritime Trade Operations (UKMTO), which is affiliated with the Royal Navy, said in a warning notice that it had received a third report on Thursday that a tanker transiting outbound…
BP easily beat analyst expectations of third-quarter earnings, posting its highest quarterly profit, which nearly quadrupled from a year earlier amid strong refining margins and oil and gas trading. BP’s underlying replacement cost profit, the metric is uses for net profit, soared to $8.6 billion for the third quarter, nearly quadrupling from the same period of 2025, the supermajor said on…
Netanyahu’s bloc fell eight seats short of a Knesset majority on October 27, winning 53 of 120 seats to 48 for Gadi Eisenkot’s camp. The Arab parties took a record 19 on turnout of about 80% in Arab communities, up from 54% in 2022. Netanyahu will stay on as caretaker PM until a new government is sworn in. As leader of the largest party (Likud with 27 seats), he is also the most likely recipient…
Politics, Geopolitics & Conflict Bolsonaro has been secretly flown to Miami on a private jet, three days after losing Brazil’s presidential runoff to Lula and a day after defying a Supreme Court order to surrender his passports in a money-laundering case. The State Department is issuing visas to him and his family. Prior to the election, U.S. diplomats in Brazil were told the policy was to return…
Crude oil gave back ground on Thursday as traders weighed emergency supply against tentative efforts to reopen talks with Iran. Neither side has taken control. The U.S. Strategic Petroleum Reserve is delivering barrels, but the reserve is near its lowest level since 1982. Peace efforts have resurfaced, but no agreement has been reached, and the threat to regional shipping and Saudi energy…
Morning Bid: Cash burnout
Trump touted a record Venezuela oil deal. Now reality is setting in
Brent Crude oil prices are set to end the year at about $105 per barrel, bank ANZ said on Friday as it hiked its projection by $10 a barrel on the assumption that Middle East oil exports, shipping availability, and fuel supplies will remain constrained through December. “The forecast does not require another geopolitical shock,” ANZ’s strategists wrote in a note carried by Bloomberg. “Rather, it…
High oil and gas prices are going to drive further consolidation in the UK sector of the North, according to analysts, who also said tax considerations would play a role in stimulating M&A appetite in the region. The expectations come from a Reuters poll among analysts and bankers, who said the oil and gas price inflation driven by the war in the Middle East has made mergers and acquisitions in…
The Yemeni Houthis claimed a fresh series of attacks on Saudi targets, including oil infrastructure: two refineries and a facility at the Abqaiq oil field. The Houthis struck the Ras Tanura refinery and the Rabigh refinery, the Houthis’ spokesperson Yahya Saree said in a post on X, plus “the Aramco facility in Buqayq”. Saree claimed success in all the latest attacks, which also included the King…
Crude oil prices were set for another weekly gain today, also extending their monthly rise to four months in a row amid continued fears of escalation in the Middle East and Houthi attacks on Saudi infrastructure. At the time of writing, Brent crude was trading at $116.56 per barrel, with West Texas Intermediate at $103.35 per barrel ahead of the November 3rd U.S. midterm elections. President…
Exclusive-Pentagon tells Europeans to cool their rhetoric on Russia, sources say
Oil rises on supply concerns as Houthis attack Saudi Arabia
Oil rises on prospects of fresh U.S. military action against Iran
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