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CommodityOilPrice.com

Oil Traders Brace for Iran Escalation After U.S. Elections

Oil traders appear to be preparing for a resumption of hostilities in the Middle East following the U.S. midterm elections on November 3, and if such a resumption does not take place, oil prices are likely to drop, ING commodity strategists wrote today in a note. With President Trump repeatedly hinting at or outright saying he may restart attacks on Iran after the midterms, anticipation of new…

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Sanctioned Oil Tankers Find a Lucrative New Trade in the Persian Gulf

Tankers previously used to ship crude oil from sanctioned countries are now moving crude out of the Middle East, after being removed from sanction lists. Two very large crude carriers that used to transport Venezuelan crude before are now being used to export oil from the Persian Gulf, and two more are en route to the Gulf of Oman, setting off from South America, Bloomberg reported today.…

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Oil Prices Climb as Houthi Attacks Reignite Saudi Supply Fears

Oil prices climbed in early Asian trade on Wednesday as renewed Houthi attacks on Saudi Arabia reignited supply fears in the region. Falling inventories and reports that the U.S. is preparing for a new military campaign against Iran after the midterm elections added to the upward momentum. At the time of writing, Brent oil futures were trading at $115.70 per barrel, up1.62% on the session, while…

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America Produces Less Than 1% of the Rare Earth Magnets It Needs

China’s ongoing weaponization of rare earths, which has now been bolstered to include measures to keep individuals with sensitive technological knowledge from leaving the country, gives it leverage over a $1.5 trillion U.S. civilian economy that depends on permanent magnets. The Pentagon has spent years preparing for life without Chinese rare earths, but the civilian economy hasn't. IMF…

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Americans Hit Hardest by War-Driven Oil Price Surge

Americans are paying the biggest portion of global energy price inflation resulting from the war in the Middle East, a Finnish energy and climate outlet has reported. Estimating the global total in fuel inflation at $468 billion, the Centre for Research on Energy and Clean Air said the U.S. portion of this total stood at $160 billion. On a per-capita basis, Americans are also paying the most,…

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Will Rubio’s Jamnagar Move Permanently Break The Russia-India Oil Axis?

The announcement by India’s largest private refiner Reliance Industries Ltd that it is open to collaborating with U.S. companies across oil, gas and clean energy, including in Venezuela, is a welcome signal to Washington that all is not lost in its ongoing attempts to utilise the Asian subcontinent as a key economic, political and military counterpoint to China’s dominance across the Asia-Pacific…

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Turkey’s Libya Deal Puts Oil Majors in a Bind

Turkey has finally gotten both sides of a divided Libya to sign the maritime map it has pushed for seven years. Ankara signed the boundary deal with Libya’s Tripoli government in 2019, and the rival parliament in the east rejected it in 2020. On October 20, that same parliament, the Haftar-aligned House of Representatives in Benghazi, ratified the deal unanimously. Both of Libya’s governments now…

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US Crude Oil Inventories Buck Analyst Expectations

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 2.031 million barrels in the week ending October 23. In the week prior, US crude oil inventories fell by a staggering 4.93 million barrels. Commercial crude oil inventories excluding the SPR have lost more than 58 million barrels over the last 28 weeks, but US crude inventories are still only…

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5 Data Center Power Stocks to Watch Before Earnings

Wall Street has spent the last three weeks punishing the companies that build and equip AI data centers, which would make more sense if anyone could point to the orders drying up. As of Friday, that group was down a median 23% since the S&P 500’s record close on Oct. 6, while the Big Tech companies actually writing the checks were down only 5%. A dozen of the biggest builders and power suppliers…

CommodityOilPrice.com

The Diesel Crisis Is Here To Stay

The diesel crunch is set to persist well into 2027 as supply remains limited by the Middle East conflict and the damaged Russian refineries, analysts say. Attempts at transient small supply-side solutions like the Trump-Putin diesel deal are not expected to move the needle in the very tight global market. Until refineries in the Middle East, damaged by Iranian strikes, return to full operations,…

CommodityOilPrice.com

Russia’s Crude Exports Set to Fall as Diesel Production Rises

Russia's crude exports from its western ports could fall by as much as 200,000 barrels per day in November as refiners increase diesel production under Moscow's new agreement with Washington, according to preliminary loading schedules cited by Reuters on Tuesday. Two traders expect shipments from Russia's Baltic and Black Sea ports to decline by 100,000 to 200,000 bpd from October. The estimates…

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What Happens When America's Power Grid Becomes a Last Resort?

Good news. Electric grid reliability was a lot better in 2025 than in 2024. But one swallow does not make a spring, as Aristotle noted, a number of years ago. Grid reliability, we believe, has been trending downward since the turn of the century, that is, since deregulation really got rolling. Okay, you could argue, as a good logician, that this is an example of a post hoc ergo propter hoc…

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Saudi Aramco Offers Discounted Oil to Europe as Exports Recover

Saudi Aramco is offering additional crude to European refiners for October and November loading, just weeks after telling customers they would receive no oil under their October contracts following an attack on the kingdom's East-West pipeline. The Saudi oil giant offered late-October spot cargoes at a discount to its official selling price, according to Bloomberg, citing a person familiar with…

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