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The United States is dipping into its Strategic Petroleum Reserve again, this time to keep crude flowing to a Louisiana refinery while oil prices climb above $117 per barrel. The reserve, meanwhile, is already at its lowest level since 1982. The Department of Energy on Friday authorized an emergency exchange of up to 400,000 barrels to Phillips 66's Lake Charles refinery, citing a temporary…
The United States and Canada are locked in an energy trade war – sort of. Although United States President Donald Trump and Canadian Prime Minister Mark Carney have lobbed plenty of blisteringly high tariffs, not to mention threats and insults, at each other over the course of their respective tenures, they have not touched one very important commodity – oil and gas. This is because the nations…
The United States’ National Aeronautics and Space Administration (NASA) has developed a revolutionary new battery that could power the country’s return to the moon while potentially also revolutionizing the way that we power electric vehicles here on Earth. The new technology can function at extremely cold temperatures, opening new possibilities for powering lunar rovers and tools, and could…
India’s crude oil imports climb 16% in September
Oil traders sold futures equivalent to at least 6 million barrels of crude in just two minutes on March 23, shortly before President Donald Trump backed away from threats to strike Iranian power plants. Now, the federal regulator overseeing those trades says it has been looking into the activity. Commodity Futures Trading Commission Chairman Michael Selig said Friday that the agency's enforcement…
The total number of active drilling rigs for oil and gas in the United States remained unchanged for the second week in a row this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US staying at 603, up 53 from this same time last year. The number of active oil rigs rose by 1, to 460 during the latest reporting period, according to the data. This…
OptionMetrics flags hidden gems in commodities as wheat, soybeans outshine copper
Brent crude nears $120 as escalating Saudi-Houthi tensions fuel another weekly oil price rally, putting fresh pressure on Trump. Friday, October 23, 2026 The slow creep of oil prices towards the $120 per barrel mark is a nightmarish scenario for US President Trump, even though there has been little fundamental change in the crude oil markets. A slight drop in freight rates and a ubiquitous…
Asia’s LNG imports set to reach three-month high in October
In contrast with the international benchmark futures prices, the prices of physical crudes from the Middle East have softened this week, as oil continues to flow out of the Persian Gulf in ship-to-ship transfers offshore Oman and producers offer competitive prices to Asian buyers. Some crude grades from Iraq and Oman have sunk into deep discounts to the physical Dubai benchmark. Iraq’s Basrah…
State explorer Oil India Limited (OIL) has found natural gas in a previously unexplored formation in the shallow Krishna-Godavari Basin, the Indian company said on Friday. OIL has made the discovery at the Godavari-1 appraisal well in the Matsyapuri formation in the Krishna-Godavari Basin off India’s east coast, recording a peak test flow of 200,000 standard cubic meters per day (SCMD). The…
Trump administration’s $8 billion diesel aid for farmers will arrive after election, official says
When Americans think about the price of oil, they usually focus on the number quoted every day in financial markets. If Brent crude is trading above $100 a barrel or West Texas Intermediate is near $100, those numbers become shorthand for whether oil is expensive or cheap. But that market price is only part of what ultimately determines the cost of getting crude oil to a refinery. But…
The first tanker shipping diesel out of Russia to the U.S. departed from the Russian Baltic Sea port of Primorsk early on Friday local time and is en route to New York where it is expected to arrive on November 7, shipping data show. The medium-sized oil tanker Agioi Fanendes, flying the flag of Malta, loaded about 40,000 metric tons, or about 300,000 barrels, of ultra-low sulfur diesel (ULSD) on…
The privately held company that’s partnering with the U.S. Administration to boost oil production in Venezuela has raised output by about 20,000 barrels per day (bpd) since August and plans to soon add more rigs to further hike production. North American Blue Energy Partners (NABEP), announced by the White House in August as one of the U.S. Administration’s partners in “the biggest oil deal in…
Record renewable power generation and a surge in grid-scale battery capacity pushed Australia’s gas-powered generation to its lowest for any third quarter since 2000, the Australian Energy Market Operator (AEMO) said in its Quarterly Energy Dynamics (QED) report on Friday. Despite lower heating requirements, Australia’s electricity demand rose by 1.3% in the July-September winter quarter, amid…
It is often said that a very high percentage of individuals who trade in their own investment or brokerage accounts go broke within the first year. There have been several studies affirming that, so I don’t doubt that it is true, but to me the more interesting question than whether it is true is why it might be so. If you are attempting to take on the pros and trade intraday moves, then I get it.…
December WTI crude oil is nearly unchanged for the week, but the flat result hides a rough ride. The contract opened at $99.04, rallied to $101.37, then broke to $95.25 before recovering back to its opening level. At 00:19 GMT, December WTI crude oil is trading at $99.29, up $0.25 or +0.25% for the week. The high matched the June contract high. The low came on peace-talk headlines. Neither side…
Morning Bid: Safety first
UBS sees dip buyers stepping in to support gold at this level
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