The war in the Middle East and the halt of about 20% of global LNG trade flows are strengthening the case for increased LNG exports out of Western Canada. The political stability and the proximity to Asian markets make Canada’s Pacific Coast the perfect source of additional LNG supply to ease the strain on gas markets, which suddenly flipped from an expected glut for the rest of the decade to a major supply shortage that would take years to overcome. Canada would have been ideally positioned to fill in the gap. If only it had more than one…

Until less than a month ago, most energy analysts were warning about a glut in oil and a likely glut in LNG as new capacity came online in the United States. Glut was the word that described global energy market fundamentals. Then the U.S. and Israeli strikes on Iran on February 28 changed everything, and now everyone is warning of shortages. Oil shortages are already emerging in some parts of the world, but the bigger and worse shortage is in natural gas. QatarEnergy yesterday declared force majeure on LNG contracts with buyers in Italy, China,…

The New York Times story headlined, “Why Tech Giants are Ditching the Grid.” Perhaps it should have had a subtitle, “ Why that is so important to everyone else who takes electricity.”  We have argued that AI centers should be kept off the grid because they will put burdens on all other grid customers, thereby socializing the costs to the benefit of organizations that do not need a subsidy from everybody else. Some might object, pointing out that AI centers often will locate their own power plants next to the AI center,…

In the wake of recent efforts by Central Asian leaders to open new trade routes to Pakistan, India is stepping up its diplomatic engagement with regional governments. Trade volume between India and the five Central Asian states totaled close to $2.5 billion in 2025, roughly triple that of Pakistan. But regional leaders have articulated plans in recent months to rapidly increase trade with Islamabad. That seems to have provided impetus for a flurry of Indian diplomatic activity. Over the past 10 days, Indian officials have held talks with officials…

COSCO Shipping Lines, China's largest shipping company, has officially resumed new booking services for container shipments from the Far East to several key Middle Eastern destinations, with the United States and Iran currently engaged in ceasefire talks, despite statements by Tehran that the U.S. military is "negotiating with itself”.  COSCO has reinstated bookings for standard general cargo containers to Saudi Arabia, United Arab Emirates, Bahrain, Qatar, Kuwait and Iraq after declaring to the International Maritime Organization (IMO)…

COSCO Shipping Lines, China's largest shipping company, has officially resumed new booking services for container shipments from the Far East to several key Middle Eastern destinations, with the United States and Iran currently engaged in ceasefire talks, despite statements by Tehran that the U.S. military is "negotiating with itself”.  COSCO has reinstated bookings for standard general cargo containers to Saudi Arabia, United Arab Emirates, Bahrain, Qatar, Kuwait and Iraq after declaring to the International Maritime Organization (IMO)…

Since the start of the Middle Eastern conflict nearly a month ago, analysts have kept their eyes glued to the latest energy market data. On 2 March, Iran declared the Strait of Hormuz, a waterway which is responsible for shipping roughly one fifth of the world’s oil and gas, was “closed” and oil prices have slipped out of control ever since. Oil prices surged to over $110 (£82.14) per barrel, leading the US to launch an operation to reopen the strait, deploying jets and helicopters to the region. But while the market tracks…

Valero Energy is set to restart later this week its major oil refinery in Port Arthur, Texas, after an explosion and a fire forced a shutdown earlier this week, sources with knowledge of the refinery’s operations told Reuters on Wednesday.   Valero on Tuesday shut down its Port Arthur refinery after an explosion late on Monday set a diesel processing unit on fire.  The refinery capable of processing 380,000 barrels per day (bpd) of crude is one of the largest in the United States and the U.S. Gulf Coast.  The refinery’s…

Valero Energy is set to restart later this week its major oil refinery in Port Arthur, Texas, after an explosion and a fire forced a shutdown earlier this week, sources with knowledge of the refinery’s operations told Reuters on Wednesday.   Valero on Tuesday shut down its Port Arthur refinery after an explosion late on Monday set a diesel processing unit on fire.  The refinery capable of processing 380,000 barrels per day (bpd) of crude is one of the largest in the United States and the U.S. Gulf Coast.  The refinery’s…

A sharp rebound in U.S. oilfield activity is colliding with a sudden geopolitical shock, as the latest Dallas Fed Energy Survey shows energy firms swinging back into expansion just as crude prices plunge roughly 4% on headlines that President Donald Trump has floated a 15-point Iran peace plan, abruptly stripping out part of the war-driven risk premium that had lifted prices more than 30% since late February.Brent crude for May delivery fell 3.9% to trade at $100.40 per barrel at 11.20 am ET while the corresponding WTI crude contract declined 3.77%…

A major fire broke out at the Ust-Luga oil port in Russia’s Leningrad region following a large-scale Ukrainian drone attack overnight on March 25, the second critical Baltic Sea export hub to be set ablaze this week following a similar strike on the nearby Primorsk port on Monday.  Ust-Luga port, one of Russia's largest multipurpose outlets on the Baltic Sea with capacity to handle approximately 700,000 barrels of oil per day, was sealed off after several oil storage reservoirs were set on fire. Russia’s Defense Ministry claimed…

A major fire broke out at the Ust-Luga oil port in Russia’s Leningrad region following a large-scale Ukrainian drone attack overnight on March 25, the second critical Baltic Sea export hub to be set ablaze this week following a similar strike on the nearby Primorsk port on Monday.  Ust-Luga port, one of Russia's largest multipurpose outlets on the Baltic Sea with capacity to handle approximately 700,000 barrels of oil per day, was sealed off after several oil storage reservoirs were set on fire. Russia’s Defense Ministry claimed…

Crude oil inventories in the United States increased by 6.9 million barrels during the week ending March 20, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 456.2 million barrels according to government data, which is 0.1% above the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories saw a build of 2.3 million barrels in the period.…

Japan’s Prime Minister Sanae Takaichi on Wednesday asked the head of the International Energy Agency (IEA) to be ready for an additional release of oil stocks from reserves if it is necessary.  The IEA two weeks ago launched the biggest coordinated emergency stocks release, of over 400 million barrels, since it was created in the 1970s.  As part of this release, the U.S. has moved to release 172.2 million barrels from the U.S. Strategic Petroleum Reserve (SPR), and Japan early this week began preparations to start releasing crude…

Japan’s Prime Minister Sanae Takaichi on Wednesday asked the head of the International Energy Agency (IEA) to be ready for an additional release of oil stocks from reserves if it is necessary.  The IEA two weeks ago launched the biggest coordinated emergency stocks release, of over 400 million barrels, since it was created in the 1970s.  As part of this release, the U.S. has moved to release 172.2 million barrels from the U.S. Strategic Petroleum Reserve (SPR), and Japan early this week began preparations to start releasing crude…

The war in Iran and the resulting energy shock could revive China’s interest in a long-stalled pipeline to import Russian gas, analysts told RFE/RL, potentially reshaping Beijing’s energy strategy. As countries are facing an energy shock after Iran shut the Strait of Hormuz, halting oil and liquefied natural gas (LNG) flows from the Gulf, Beijing is grappling with the potential loss of discounted Iranian oil and the risk of prolonged market disruption, prompting a rethink of its reliance on a chokepoint that carries roughly 40 percent…

As conflict in the Middle East exposes the fragility of global logistics, a trio of American industrial leaders - REalloys, Lockheed Martin, and Northrop Grumman - is executing a high-stakes mission to reclaim "supply sovereignty" from China. The year 2026 has brought a stark realization to the Pentagon: modern warfare is only as resilient as its sub-component supply chain. As U.S. forces conduct precision operations in Iran, the "burn rate" of advanced munitions - from Tomahawk missiles to GBU-series smart bombs - has reached levels not seen since…

Oil prices fell sharply in early asian trade on Wednesday, with both major benchmarks dropping more than 5% as traders reacted to signs of potential de-escalation in the Middle East conflict as well as a crude inventory build in the U.S. At the time of writing, WTI crude was trading at $87.51, down 5.24%, while Brent crude had fallen below the psychologically important $100 to $98.03, down 6.08%. The selloff follows a volatile 48 hours in oil markets, where prices had surged following President Trump's threat to blow up Iranian power plants and…

Oil prices fell sharply in early asian trade on Wednesday, with both major benchmarks dropping more than 5% as traders reacted to signs of potential de-escalation in the Middle East conflict as well as a crude inventory build in the U.S. At the time of writing, WTI crude was trading at $87.51, down 5.24%, while Brent crude had fallen below the psychologically important $100 to $98.03, down 6.08%. The selloff follows a volatile 48 hours in oil markets, where prices had surged following President Trump's threat to blow up Iranian power plants and…

India’s fuel market is sending a confusing signal right now. The Iran war has pushed global oil markets into shock, the Indian oil basket has surged above $150 a barrel, and the risk to key supply routes through the Middle East is rising. Yet at the pump, prices have barely moved. That disconnect is exactly where this story begins, because petrol prices in India do not move the way most people assume they do. They are based on a formula that is filtered through taxes, logistics, and policy choices that can dramatically change what consumers…