Goldman’s latest edition of Nuclear Nuggets: Global Reactor Tracker reinforces that the buildout of the cleanest and most reliable form of so-called “green” energy, nuclear power, continues to gain momentum. The theme we first laid out in December 2020 continues to broaden, with buildouts accelerating across both large-scale and small modular reactors, even as the growing risk of a massive uranium supply deficit emerges. Focusing on the latest North American reactor progress and announcements: 4/16/2026 – Canada –…

The Trump administration will put back into the Strategic Petroleum Reserve whatever oil it takes out—and then some—during the current emergency drawdown period, Energy Secretary Chris Wright said at an event on Friday. The plan, according to Wright, is to add 1.2 barrels to the SPR for every barrel it takes now. “We’ll leave it fuller than when we started,” he said, stopping short of detailing the plan for how that would work. The SPR currently sits around 384 million barrels, according to the latest EIA data, after…

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 551,  down 25 from this same time last year. The number of active oil rigs rose by 5 to 415 during the latest reporting period, according to the data. This is 50 below this same time last year. The number of gas rigs fell by 1. Gas rigs now sit at 128, which is 20 more than this time last year. The miscellaneous rig count fell by 1, to 8. The latest…

As the Middle East conflict exposes the fragility of global supply chains built around the Strait of Hormuz, energy companies and importing nations alike are reassessing where the next generation of reliable barrels will come from. The Vaca Muerta Shale sits at the top of that shortlist, with Argentina throwing open 15 new exploration blocks in the play to international and domestic energy companies — the largest bid round since 2016 and more than double the six blocks offered in the previous provincial auction. Vaca Muerta is the largest…

Oil prices surged $7 this week as Iran tensions, Hormuz risks, and weak signals from the Xi-Trump summit overshadow bearish OPEC and IEA demand forecasts. Friday, May 15, 2026 In a week that started off with both OPEC and the IEA slashing their demand forecasts for 2026, oil prices are set for a hefty $7 per barrel week-on-week gain. The much-anticipated Xi-Trump summit in Beijing provided little hope for any short-term market normalization, turning out to be quite thin on commodity-relevant substance. Iran has added fuel to the oil market’s…

Pakistan has negotiated the passage of vessels laden with Qatari LNG out of the Strait of Hormuz in a diplomatic feat that no other energy buyer has managed so far in the Iran war. Pakistan, which was the mediator of the U.S.-Iran talks and is passing messages from one to the other, appears to have used well its close ties with both Qatar and Iran to negotiate the successful imports of two tankers with Qatari LNG. Pakistan has relied on Qatar's term LNG supply for years, but the war in the Middle East has led to the shutdown of Qatari LNG production…

Amid a new company restructuring, BP is weighing a potential sale of some of its natural gas assets in Egypt, Reuters reported on Friday, citing multiple sources familiar with the plans. The UK oil and gas supermajor has not taken any final decision on a potential sale, while a spokesperson for BP told Reuters the group doesn’t comment on market speculation. BP has been operating in Egypt for more than 60 years, investing over $35 billion in the North African country during these six decades. BP and the partnerships it has with other companies…

Amid a new company restructuring, BP is weighing a potential sale of some of its natural gas assets in Egypt, Reuters reported on Friday, citing multiple sources familiar with the plans. The UK oil and gas supermajor has not taken any final decision on a potential sale, while a spokesperson for BP told Reuters the group doesn’t comment on market speculation. BP has been operating in Egypt for more than 60 years, investing over $35 billion in the North African country during these six decades. BP and the partnerships it has with other companies…

The government will make it illegal to grant new oil and gas licences in the North Sea, the King said at the state opening of Parliament, in a sign ministers are refusing to buckle in the face of a barrage of criticism that the policy is depriving the UK of billions of pounds in tax receipts without helping the environment. As part of an Energy Independence Bill announced in the King’s Speech, the government will bake into law its pre-election pledge not to explore new oil and gas fields in a bid to “take control of our energy security”.…

India's trade deficit widened in April by more than analysts had expected as the surge in oil and gas prices hiked the Indian energy import bill. Trade deficit jumped to $28.38 billion last month, according to data from the Ministry of Commerce and Industry published on Friday. The trade gap in April widened by $8 billion compared to the $20.6 billion deficit in March, and was higher than economists had expected at about $26 billion. India's total exports grew by 13.8% in April from a year earlier to hit $43.56 billion, the data showed. However,…

Crude oil prices rallied hard this week as traders focused on the growing supply threat tied to the U.S.-Iran conflict. July WTI crude oil futures settled Thursday at $97.91, gaining $6.79, or 7.45%, for the week. Prices traded in a wide range between $92.84 and $99.09 as the market reacted to war headlines, tighter inventories, and inflation concerns. The biggest driver remained the shutdown of the Strait of Hormuz, a key shipping route for global crude exports. Crude Oil News Today: Strait of Hormuz Shutdown Keeps Supply Fears Elevated The war…

Politics, Geopolitics & Conflict Thursday was the first day of the Trump-Xi summit, which most of the world is awaiting with bated breath as some indication of a Chinese-supported end to the U.S.-Iran conflict and a reopening of Hormuz. It will not be that simple, of course, and as we mentioned last week, Iran is not China’s priority. It’s all going to come down to Taiwan and Trump’s response to that. Beijing made that very clear ahead of the talks after condemning the Trump administration’s $11B arms package for Taiwan.…

Gulf shipping, Iraqi trade access, Chinese infrastructure expansion, and US-Iran military escalation are now concentrated around a new, narrow stretch of water near Kuwait’s Bubiyan Island, which is the target of intensifying gaming.  This week, Kuwait formally accused IRGC-linked operatives of attempting an armed infiltration of the island after Kuwaiti forces intercepted a fishing boat earlier this month and exchanged fire with the group, leaving one Kuwaiti officer wounded. Kuwait summoned the Iranian ambassador and accused Tehran…

The Abu Dhabi national oil company ADNOC plans to have a new pipeline operational in 2027 that would double its oil export capacity through Fujairah, which sits outside the Strait of Hormuz. ADNOC plans to build a new project, the West-East 1 Pipeline, which is expected to become operational next year and double the UAE’s energy giant’s export capacity through the Emirate of Fujairah to meet global demand for energy supplies, the Abu Dhabi Media Office said on Friday. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of…

Australia will not be imposing controls on exports of natural gas during the third quarter of 2026, as industry and experts have assured the government that the most vulnerable east coast will not see any supply shortages between the winter months of July and September.   “Following confirmation from industry and experts that Australia’s east coast market has sufficient gas supplies, Minister for Resources and Northern Australia Madeleine King will not implement gas market export controls,” the government said on Friday.…

Developers of the Commonwealth LNG project have taken the final investment decision to build the $13-billion U.S. export plant in Louisiana, underpinned by investments from Kimmeridge, Abu Dhabi-based Mubadala Energy, and Canada Pension Plan Investment Board, the UAE energy investor said on Friday. The Commonwealth LNG facility in Cameron Parish, Louisiana, will have an annual capacity of 9.5 million tons of liquefied gas and is expected to become operational in 2030. Phase 1 development of the export facility on the west bank of the Calcasieu…

Greg Abel has replaced Warren Buffett as the head of Berkshire Hathaway. The company’s annual meeting last week was the first one helmed by him.  Mr Abel formerly headed Mid American Energy, a utility based in Des Moines, and then all of Berkshire Hathaway’s utility operations. When Mr Buffett spoke on issues of finance, investors listened attentively. Whether Mr Abel attracts the same reverential following remains to be seen. However, his views on electric utilities, based on his many years in the industry, are definitely worth…

India’s economic pains are intensifying every day that the Strait of Hormuz remains closed. Two and a half months after the Middle East conflict began, one of the highest-performing emerging markets in recent years and the world’s third-largest crude oil importer is scrambling to contain the oil shock that is spreading to consumer prices, foreign exchange reserves, and economic growth. Since the war began and cut off over 40% of India’s crude oil flows, those that passed through the Strait of Hormuz, one of the highest-flying…

The Bureau of Land Management is teeing up another round of federal oil and gas leasing, with 66 parcels across Montana and North Dakota headed for auction in July as Washington continues pushing a noticeably more drill-friendly agenda. The July 14 lease sale will offer 29,087 acres across the two states, according to a BLM announcement Thursday. Companies interested in bidding will first have to make it through another familiar stage of the federal energy process: paperwork, environmental reviews, public comments, and likely at least a few lawsuits.…

Canada may finally be doing the thing everyone has been yelling about for the last decade: building more oil pipelines. Prime Minister Mark Carney said Thursday that Ottawa and Alberta will meet Friday to advance plans for a major new pipeline capable of moving at least 1 million barrels per day of Alberta crude to new markets. Carney also confirmed reports that his government will unveil a new industrial carbon pricing agreement with Alberta, signaling an attempt to calm the long-running cold war between Ottawa and Canada’s energy heartland.…