Chevron has declared force majeure at Israel’s Leviathan natural gas field after the government ordered a temporary suspension of production on security grounds, marking the second time in less than a year that hostilities with Iran have disrupted Eastern Mediterranean gas flows. Israel’s energy ministry directed operator Chevron to shut in Leviathan following joint U.S.-Israeli strikes on Iran and subsequent retaliatory action across the region. Partner NewMed Energy said the suspension followed guidance from security authorities,…

Chevron has declared force majeure at Israel’s Leviathan natural gas field after the government ordered a temporary suspension of production on security grounds, marking the second time in less than a year that hostilities with Iran have disrupted Eastern Mediterranean gas flows. Israel’s energy ministry directed operator Chevron to shut in Leviathan following joint U.S.-Israeli strikes on Iran and subsequent retaliatory action across the region. Partner NewMed Energy said the suspension followed guidance from security authorities,…

REalloys (NASDAQ: ALOY) and a small number of other North American companies are doing what the rest of the Western world failed to do for three decades: They are breaking China’s "kill switch" on the U.S. defense supply chain. While the U.S. defense sector has long been reliant on international processing for these materials, REalloys has established itself as the only North American facility currently producing the specialized alloys essential for high-performance magnets used in advanced defense systems.China’s dominance isn't in…

What has been happening in the Middle East when it comes to markets won’t affect only headlines but could reshape the structure of the oil market from the physical barrel to the far end of the derivatives curve. As tensions escalate, physical traders are going to have to rethink their physical routes, and will have to recalibrate the forward curve - opposite to equity markets, oil markets use the forward curve to hedge, not spot. Because of that, you will also see a repricing of volatility, adjusting skew, and deployment of option structures…

China’s power sector is undergoing a visible transformation. Electricity demand rose by 5% between 2024 and 2025, reaching 10,368 TWh, yet coal-fired generation declined by 113 TWh to 6,294 TWh in a year, reducing its share in the power mix. The entire increment in electricity demand was absorbed by nuclear and renewable sources, whose combined output rose by 617 TWh. On paper, this reflects a decisive shift away from coal and toward low-carbon energy. In practice, however, coal is not disappearing from China’s industry – it is…

Winter in the Mid-Atlantic region is certainly winding down, and March is always an unpredictable month. Early next week, a fast-moving Alberta Clipper is forecast to bring yet another round of wintry weather to the region before a spring warm-up arrives by mid-month. Marko Korosec, lead forecaster at SWE, wrote in a new weather note that the Alberta Clipper is set to spread snow, ice, and freezing rain from the Midwest to the Mid-Atlantic beginning Sunday and continuing through Tuesday. Korosec continued: A new winter storm will set the stage…

A consortium led by BlackRock’s Global Infrastructure Partners (GIP) and EQT AB have agreed to acquire global power utility, AES Corp. (NYSE:AES), for $15 per share in cash, totaling an enterprise value of approximately $33.4 billion. The deal, which includes major pension and investment funds, represents a ~40% premium for AES shares and includes the assumption of debt with a cash equity value of $10.7 billion. AES will continue to operate as a utility, with regulated businesses in Ohio and Indiana expected to remain under local, state,…

A consortium led by BlackRock’s Global Infrastructure Partners (GIP) and U.S. gas giant EQT Corp. (NYSE:EQT) have agreed to acquire global power utility, AES Corp. (NYSE:AES), for $15 per share in cash, totaling an enterprise value of approximately $33.4 billion. The deal, which includes major pension and investment funds, represents a ~40% premium for AES shares and includes the assumption of debt with a cash equity value of $10.7 billion. AES will continue to operate as a utility, with regulated businesses in Ohio and Indiana expected to…

A consortium led by BlackRock’s Global Infrastructure Partners (GIP) and U.S. gas giant EQT Corp. (NYSE:EQT) have agreed to acquire global power utility, AES Corp. (NYSE:AES), for $15 per share in cash, totaling an enterprise value of approximately $33.4 billion. The deal, which includes major pension and investment funds, represents a ~40% premium for AES shares and includes the assumption of debt with a cash equity value of $10.7 billion. AES will continue to operate as a utility, with regulated businesses in Ohio and Indiana expected to…

JPMorgan Chase has warned that Brent crude oil prices could spike to $120 per barrel if a full-scale conflict in the Middle East leads to a sustained disruption of oil flows through the Strait of Hormuz, estimating that Gulf producers can only sustain normal production for roughly 25 days if the Strait is completely blocked, after which saturated storage would force a total shutdown of regional production.  Oil prices were surging on Monday, with Brent crude for April delivery up 8.7% to trade at $79.28 per barrel at 9.00 am ET while the corresponding…

The world’s biggest maritime insurers and insurers’ clubs are ending war risk coverage for vessels transiting the Persian Gulf and the Strait of Hormuz, following the escalation of the conflict in Iran.  As of midnight London time on March 5, most major insurers will terminate war risk coverage, various circulars from the insurance clubs say.  The American Steamship Owners Mutual Protection and Indemnity Association issued on Sunday a Notice of Cancellation in respect of war risks exposures within the Persian/Arabian Gulf…

The world’s biggest maritime insurers and insurers’ clubs are ending war risk coverage for vessels transiting the Persian Gulf and the Strait of Hormuz, following the escalation of the conflict in Iran.  As of midnight London time on March 5, most major insurers will terminate war risk coverage, various circulars from the insurance clubs say.  The American Steamship Owners Mutual Protection and Indemnity Association issued on Sunday a Notice of Cancellation in respect of war risks exposures within the Persian/Arabian Gulf…

Qatar’s state-owned energy giant QatarEnergy has stopped all liquefied natural gas (LNG) production, shutting down the country’s entire LNG output after Iranian drone strikes hit its major facilities at Ras Laffan and Mesaieed. The shutdown removes roughly 20% of the world’s LNG supply from the market and sends ripples through already volatile global energy markets. QatarEnergy said in a statement on its website Monday that “due to military attacks on QatarEnergy’s operating facilities in Ras Laffan Industrial City…

Qatar’s state-owned energy giant QatarEnergy has stopped all liquefied natural gas (LNG) production, shutting down the country’s entire LNG output after Iranian drone strikes hit its major facilities at Ras Laffan and Mesaieed. The shutdown removes roughly 20% of the world’s LNG supply from the market and sends ripples through already volatile global energy markets. QatarEnergy said in a statement on its website Monday that “due to military attacks on QatarEnergy’s operating facilities in Ras Laffan Industrial City…

Pakistan could seek to be included in Saudi Arabia’s preferred buyers of crude exported from the Red Sea amid the major disruption to tanker traffic in the Strait of Hormuz, sources told Pakistani outlet The News.   The escalating conflict in Iran and Tehran’s retaliatory strikes on landmarks and airports in Gulf countries including the UAE, Kuwait, and Bahrain, have effectively halted oil and LNG tanker traffic via the vital Strait of Hormuz, where a fifth of global oil and LNG flows pass. While the Strait is not formally…

Cellphone footage showing tongues of flame and thick, black smoke billowing from a ship in the Strait of Hormuz is an ominous image underlining fears of disruption to global oil supplies amid the US and Israeli conflict with Iran. The straits are a vital global trade route for oil and liquefied natural gas (LNG). The Skylight, a 7,600-ton oil and chemical tanker, was just north of the Omani port of Khassab, near to the narrowest point of the strait where the shipping lane is just 3 kilometers wide. It was one of three civilian ships reportedly…

Oil prices surged on Monday as the fallout from U.S. and Israeli military strikes on Iran rippled through global energy markets, with tanker traffic through the Strait of Hormuz already heavily impacted and military strikes continuing across the region. In early Asian trade, Brent futures broke the $80 mark, briefly trading at $82.37 before trimming gains slightly as markets digested volatility. Similarly, WTI futures climbed rapidly, soaring past the $72 mark in early trading before dropping back to $71 at the time of writing. The spike in oil…

Oil prices surged on Monday as the fallout from U.S. and Israeli military strikes on Iran rippled through global energy markets, with tanker traffic through the Strait of Hormuz already heavily impacted and military strikes continuing across the region. In early Asian trade, Brent futures broke the $80 mark, briefly trading at $82.37 before trimming gains slightly as markets digested volatility. Similarly, WTI futures climbed rapidly, soaring past the $72 mark in early trading before dropping back to $71 at the time of writing. The spike in oil…

In a typical Chinese rare earth processing plant, 200 workers move through a maze of massive chemical tanks, risking life and limb to produce the materials that power everything from fighter jets and missile components to cellphones. Hundreds of these facilities operate across China, and they give Beijing overwhelming control over the single most critical choke point in the modern industrial economy. But now, in Saskatchewan, Canada, a hi-tech plant of engineers and chemists is beginning to break that monopoly. The facility is built around an AI…

China's imports last year broke yet another record, despite talk of waning oil demand. Since the start of this year, the world’s biggest oil importer has continued buying crude at elevated rates, but this may be about to change as prices extend their rally. Brent crude has been hovering around $70 per barrel for over a week now, and the outlook remains rather bullish compared to forecasts from the end of 2025, which could not foresee the latest geopolitical developments and their potential implications for supply security. China, while not…