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China is home to 49% of the world’s “clean industrial plants” thanks to massive investments in energy transition projects, solidifying its position as the biggest investor in wind, solar, batteries, and other alternative energy sources. According to a report by decarbonization outlet the Mission Possible Partnership, China accounted for $45 billion in energy transition investments this year. The…
Crude oil prices, which fell to their lowest in four weeks, staged a rebound earlier today, as traders shifted their attention from the U.S. midterms to the Middle East, awaiting the next step in the war. Benchmarks dropped sharply on Tuesday on reports that Iran may be open to discussions on previously non-negotiable issues, but at the time of writing, Brent crude was trading at $103.60 per…
Oil edges down as investors await US midterm election results
Oil edges higher as mixed U.S.-Iran signals temper peace hopes
The U.S. Army wants first dibs on American-produced heavy rare earths, and REalloys (NASDAQ: ALOY) has just signed a landmark nonbinding term sheet that could put it at the top of the military's supply chain list. And the terms are extraordinary. The term sheet proposes a potential 75-year operating lease on approximately 200 acres at Tooele Army Depot in Utah, where REalloys would build and…
Gold holds near $3,930 as Iran talks, U.S. midterms shape outlook
’It is a cappuccino. It can’t be $10,’ says Harry Styles about NYC coffee prices
While crude oil imports in Asia have reached pre-war levels, imports of refined products remain weak as gasoline and diesel imports from the Middle East have crashed amid reduced refining capacity. Asia’s oil import story these days is a reflection of the global oil markets—crude oil availability has significantly increased since the early summer lows and flows out of the Middle East have largely…
The war on Iran has doubled what Egypt pays for imported LNG, and Cairo is deferring cargoes into 2027 and burning fuel oil in its power plants to hold down the bill. Egypt’s own output fell to 3.63 bcf/d in August as older fields declined faster than new wells came online, and the petroleum ministry has now extended the deadline for bids on 14 exploration blocks meant to reverse that decline to…
The world’s biggest oil and gas companies have posted another strong quarter, with just Europe’s top six majors booking a collective $38 billion for the July-to-September quarter. Adding Exxon and Chevron, the figure swells considerably. But the supermajors are in no rush to start spending that windfall. The oil and gas industry is having the exact opposite year to 2020. The war between the…
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 5.267 million barrels in the week ending October 30. In the week prior, US crude oil inventories fell by a staggering 2.031 million barrels. Commercial crude oil inventories excluding the SPR have lost more than 64 million barrels over the last 29 weeks, and 12 million over this year,…
Africa needs $200 billion in annual energy investment, according to the Independent Petroleum Producers Group (IPPG). Around 600 million people across Africa lack access to electricity, a problem that could quickly intensify as sub-Saharan Africa rapidly grows, develops, and industrializes. The region’s energy demand is expected to increase threefold over the next decade, as emerging economies…
Canada’s proposed associate membership with the European Union is a first-of-its-kind political and economic partnership announced by Prime Minister Mark Carney and EU leaders during the October 2026 Canada-EU Summit in Montreal. The arrangement creates a multi-layered tie that goes well beyond a standard free-trade agreement (like CETA), while stopping short of full EU membership. The push is…
New Jersey governor warns ports against accepting Russian diesel
The world’s largest listed oil company, Saudi Aramco, is again in the spotlight. The company’s results, released on 3 November, clearly offer an uncomfortable lesson in wartime economics. Yes, an oil company can post higher profits even as its physical operating position deteriorates. Higher prices can counter lost production; exceptional accounting gains can lift headline earnings. Still, none…
European wheat futures near multi-month lows on peace talks
Oilfield services companies are paying as much as three times their usual logistics costs in the Middle East, with fuel expenses doubling and labor costs climbing by as much as 40%, as the Iran war continues to disrupt equipment deliveries and project operations. Executives speaking Tuesday at the ADIPEC energy conference in Abu Dhabi described mounting financial pressure from the nine-month…
With the election settled, the presidency continuing for four more years and a newly elected Congress taking office in February, Brazil’s data center policy now hinges on execution, requiring tight coordination between parliament and the executive branch. Most clean tech policies can advance through decrees and agency rules, but data centers are an exception: Unlocking hyperscale investment…
The United States and Iran could reach some form of a limited agreement by the middle of 2027, which would allow oil flows from the Strait of Hormuz to continue to gradually recover, but fundamental differences will remain, and the Middle East situation will remain far from normal next year, according to Rystad Energy. “Achieving a comprehensive settlement would require addressing issues related…
Energy company Drax has unveiled plans to build a new data centre at the site of its North Yorkshire power plant, which uses wood as fuel. The FTSE 250 firm’s biomass plant is predominantly powered by wood pellets, but also uses straw and sunflower pellets. The company said it intends to use surplus energy capacity at the plant to power the new facility, in a new partnership with AI…
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