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Most European countries expect higher investments in their grid infrastructure through 2030 after more than doubling annual investments since 2019, the European Union Agency for the Cooperation of Energy Regulators (ACER) said in a report on Friday. A total of 22 out of 24 countries reviewed in the report raised annual investments in grids last year compared to 2019, with a 155% increase on…
The chances of a U.S.-Iran deal are low and the next two months carry the greatest escalation risks that could derail the recovery of oil flows through the Strait of Hormuz, energy consultancy FGE NexantECA says after the U.S. midterm elections. “Not only are we not close to a resolution, we are even worse than we were before the June MOU,” FGE NexantECA’s chairman Emeritus, Fereidun Fesharaki,…
Asia’s fuel oil refining margins and benchmark prices have slumped this week after the outcome of the U.S. midterms boosted hopes that there could be de-escalation in the Middle East allowing more oil products to move out of the Strait of Hormuz. The fuel oil market has also softened in recent weeks as more oil is exiting the Gulf and going to Asia’s demand centers. This week, the refining margin…
Politics, Geopolitics & Conflict Benjamin Netanyahu is using the Shin Bet to challenge an election his bloc lost. Shin Bet chief David Zini, whom Netanyahu appointed, is seeking to question four Arab party leaders, including Ra’am’s Mansour Abbas, over alleged foreign-funded interference, and he has presented no evidence. All but one of the agency’s election inquiries began after the results…
December WTI crude oil is headed for one of its roughest weekly losses in months after the market shed $11.37, or 11.10%, from its opening price of $102.39. Prices posted a weekly high at $102.75 before breaking sharply to $86.65. Early Friday, the contract was trading near $91.58, still down heavily for the week. The decline was not driven by a sudden collapse in demand or a surprise rise in…
Morning Bid: Out of the blue
Hindustan Petroleum Corporation Limited (HPCL), a major Indian state-owned refiner, is struggling to hire tankers to transit the Strait of Hormuz and pick up cargoes in the Gulf, chairman Vikas Kaushal has told Bloomberg. Despite the recovery of crude oil flows from the Gulf via Hormuz to nearly pre-war levels, buyers continue to struggle with scarce vessel availability and last-minute decisions…
World food prices dip in October, but remain higher than a year ago
ADNOC has signed a ten-year deal to supply LNG to Indian Gujarat Energy Ltd, in the first agreement to sell gas from the international gas portfolio of ADNOC’s international investment company, XRG. Gujarat Energy will receive up to 4 million tons of LNG over ten years, starting in 2028, Abu Dhabi’s state energy giant said on Friday. The agreement is ADNOC’s fifth LNG supply agreement in India,…
European gas tumbles to seal worst week since 2025, snaps five-week rally
A decline in fuel use in China’s industrial sector has led to a 3.1% decline in carbon dioxide emissions in the third quarter of the year, the Finnish climate outlet Centre for Research on Energy and Clean Air has reported, as cited by Reuters. The lower emissions from the world’s largest generator of CO2 resulted from a 4% drop in crude oil consumption, CREA said, adding that fuel use in…
Goldman lowers year-end gold price forecast on hawkish Fed shift
The global crude oil market is moving back towards oversupply, according to analysts from Goldman Sachs and JPMorgan, with demand destruction from high prices causing fears of a deficit to fade and concerns of a glut to rise. “We estimate the global oil market returned to a surplus of 1.1 million barrels per day in September, widening to 1.4 million bpd in October, nearly matching last year's…
Crude oil prices were on course for a sharp weekly drop, with both Brent crude and WTI shedding 12% since Monday, following the results of the U.S. midterm elections, which gave rise to hopes that the war in the Middle East could be brought to a swift end. At the time of writing, Brent crude was trading at $99.42 per barrel, and West Texas Intermediate was trading at $91.242 per barrel, both up…
Oil set for sharp weekly drop but Middle East supply concerns provide floor
As high oil prices curb demand, fresh signs of glut appear
In February 2026, President Trump announced one of the most ambitious industrial security initiatives of his presidency: Project Vault, a $12 billion strategic stockpile of critical minerals and rare earths designed to protect American manufacturers and the defense industrial base from supply disruptions. This announcement was backed by a $10 billion loan from the U.S. Export-Import Bank, the…
Gold heads for best week since August as U.S. political shift lifts bonds
Oil prices reversed their recent downtrend on Thursday, a day after Democrats swept control of both the House and Senate, creating a potential legislative check on U.S. President Donald Trump’s administration. Brent crude was up 4.0% to trade at $98.38 per barrel at 3:15 pm ET, while WTI gained 2.9% to $90.65, with prices rising for the first time in four sessions after plunging to a near…
Oil rises on fresh tanker attacks, but heads for steep weekly loss
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