Following improved stability in the Red Sea, shipping giant Maersk is returning to the trans-Suez route connecting the Middle East and India with the U.S. East Coast, the Denmark-based company said on Thursday.  After the successful trans-Suez transits of two vessels in the past weeks, A.P. Moller - Maersk has decided to implement the first structural change of a service back to the trans-Suez route, the shipping giant said.  The return to the Red Sea and Suez Canal route applies to the MECL service, which is solely operated by Maersk…

A bipartisan group of lawmakers introduced a bill on Thursday, proposing the creation of a $2.5 billion critical minerals reserve in the United States.  The reserve would be a move to encourage mining and refining domestically as the U.S. looks to break China’s near-total monopoly in critical minerals and rare earths supply, refining, and pricing.   The bill says that China has moved to “weaponize its influence over prices and volumes in the contest for access to critical minerals,” and asserts that the goal is…

China continues to nearly single-handedly prop up global coal consumption and new coal-fired power generation, despite being also the world’s leading investor in renewables and battery storage.  China is set to commission as many as 85 coal-fired power generating units this year, out of a total global of 104 coal projects slated for start-up in 2026, according to data by non-profit Global Energy Monitor (GEM) cited by the Financial Times. Of all the 63 gigawatts (GW) of coal-fired power generation expected to begin commercial operations…

With traders across the globe refreshing their X accounts every 3 seconds, expecting to see news of imminent "kinetic action" in Iran, they instead got a report from NBC indicating that military action is far from certain and could take days to launch. According to the report which cites multiple anonymous sources - including a U.S. official, two people familiar with the discussions and a person close to the White House - Trump has told his national security team that "he would want any U.S. military action in Iran to deliver a swift…

Canada and China signed on Thursday several cooperation agreements, including in the energy sector, as Canadian Prime Minister Mark Carney hailed “a new era” in bilateral relations during an official visit to China.  Energy, forestry, food safety, crime, and culture were areas in which the two economies pledged cooperation as Canada is seeking to diversify trade partners away from the United States in the face of the hostile trade policy of the Trump Administration.  In the energy space, Canada and China agreed to discuss…

Canada and China signed on Thursday several cooperation agreements, including in the energy sector, as Canadian Prime Minister Mark Carney hailed “a new era” in bilateral relations during an official visit to China.  Energy, forestry, food safety, crime, and culture were areas in which the two economies pledged cooperation as Canada is seeking to diversify trade partners away from the United States in the face of the hostile trade policy of the Trump Administration.  In the energy space, Canada and China agreed to discuss…

Oil prices fell sharply in early Asian trade on Thursday, with both major crude benchmarks retreating by around 3 percent as markets reacted to comments from U.S. President Donald Trump that appeared to lessen the likelihood of an imminent U.S. military strike on Iran. At the time of writing, WTI crude was down $1.86, or 3.00 percent, at $60.16 per barrel, while Brent crude stood at $64.57, down $1.95, or 2.93 percent on the day. This drop in prices represents a significant reversal from earlier in the week when geopolitical risk sent prices climbing…

European officials are now publicly warning that a unilateral U.S. military move on Greenland would rupture NATO. Greenland has responded by saying any defence activity must sit inside the alliance, and Denmark has backed that position publicly ahead of senior-level talks with Washington. This is no longer being handled through Denmark and NATO behind closed doors. Allies are now saying in public what they will and will not accept. They will not accept a U.S. military presence or control in Greenland outside NATO structures. They will not accept…

Investors continue to bet on the AI boom, but this year they see energy and power providers as the most compelling opportunities to increase exposure to the AI theme, the world’s biggest asset manager, BlackRock, said in its 2026 Investment Directions report this week. Respondents in a recent survey of hundreds of BlackRock clients believe in the AI theme and its value, but they are seeking to diversify in and around AI, expanding their exposure beyond the Magnificent Seven, hyperscalers, and Big Tech. More than half—54%—of BlackRock’s…

At the start of the year, sentiment in the oil market was overwhelmingly and deeply bearish. Most forecasts pointed to a glut, and a sizable one at that. Then the U.S. struck Venezuela, took its acting president to stand trial in the U.S., and threatened Iran, Mexico, and Colombia that they were next. Protests broke out in Iran. Saudi Arabia and the UAE took different sides in Yemen. Brent crude is already over $65 per barrel. Geopolitics has always been a wild card for the oil market. There is always a potential for supply disruption in some large…

A race for critical minerals is redefining global geopolitics as world powers rush to shore up supply chains of the finite materials that power the energy and tech sectors. Demand for rare earth metals and other critical minerals has seen a meteoric rise in recent years as the world increasingly electrifies and the tech sector becomes ever more robust and omnipresent. Due to the central role of these ingredients in global and national economies, competition for these supply chains is far more than just a commercial concern – it’s become…

American Petroleum Institute (API) CEO, Mike Sommers, alongside other industry leaders like TotalEnergies' (NYSE:TTE) Patrick Pouyanne, have warned that reviving Venezuela's oil industry will be a long, costly, multi-billion dollar process requiring clear legal frameworks, strong investment security, and significant infrastructure amid political pushes for quick returns. While small production increases (100k-200k bpd) might happen sooner, especially from areas like Lake Maracaibo where Chevron (NYSE:CVX) operates, the energy leaders have emphasized…

Oil traders and shipping companies are scrambling to expand tanker operations to move Venezuelan crude as Washington prepares to take delivery of sanctioned oil following the ouster of President Nicolás Maduro, according to multiple sources familiar with the matter. Trading houses and oil majors including Chevron, Vitol, and Trafigura are competing for U.S. government-backed export deals after President Donald Trump said Venezuela could hand over up to 50 million barrels of crude to the United States. Trafigura told U.S. officials last week…

Data centre planning applications hit an all-time high in the UK in 2025, City AM can reveal, as investors rushed to gain a foothold in the burgeoning AI market. More than 60 separate planning applications for the construction of new data centres were filed in England and Wales over the course of the year, according to a City AM analysis of more than 300 local authority planning databases, representing an increase of 63 per cent compared to 2024. The analysis excluded extensions to existing data centre sites, revisions to past applications …

Oil traders and shipping companies are scrambling to expand tanker operations to move Venezuelan crude as Washington prepares to take delivery of sanctioned oil following the ouster of President Nicolás Maduro, according to multiple sources familiar with the matter. Trading houses and oil majors including Chevron, Vitol, and Trafigura are competing for U.S. government-backed export deals after President Donald Trump said Venezuela could hand over up to 50 million barrels of crude to the United States. Trafigura told U.S. officials last week…

Industry consultant Enverus has predicted that Venezuela will increase oil production 50% and hit 1.5 million barrels a day by 2035 following the capture of long-time leader Nicolas Maduro by the Trump administration.  In its most bullish scenario, Enverus envisions Venezuela’s production tripling to 3 million barrels per day over the next decade.  However, Enverus has predicted that the 30-50 million barrels that Trump ordered Venezuela to relinquish to the U.S. will not have a major impact on global markets. “Even with accelerated…

Azerbaijan rolled out the red carpet for a delegation led by Carl Kress, the regional director for Eurasia of the US Trade and Development Agency. Local media reports characterized Kress’ talks with a variety of top Azerbaijani government officials as “constructive” but no specific deals were announced. “The two sides highlighted significant potential for collaboration across multiple sectors,” noted a commentary published by the government-connected website Caliber.az. Discussions focused on the development…

Kazakhstan cut oil production in December by more than 200 Kb/d, with output averaging 1.522 million barrels per day in the final month down from 1.759 mb/d in November. December production was also significantly lower than the full-year average of 1.776 mb/d for 2025.  The lower production was attributed to the forced suspension of Single Point Mooring (SPM-3) following a drone attack coupled with adverse weather conditions that hit the Black Sea. Unidentified drones struck two oil tankers in the Black Sea, including one chartered by Chevron…

Greenland’s long-dormant oil story has resurfaced, once again with US interests at the forefront. Greenland Energy and 80 Mile PLC plan to drill two onshore wells in eastern Greenland’s Jameson Land basin by the summer of 2026, the island’s first hydrocarbon drilling in more than a decade. Independent estimates put unrisked recoverable resources at around 4 billion barrels, with much larger oil-in-place figures cited by project partners. The return of American companies also coincides with renewed US geopolitical interest in Greenland,…

Brent Crude prices have the potential to hit $70 per barrel over the next three months amid heightened geopolitical risks, according to analysts at Citi.  The investment bank raised its 0-3 month outlook on Brent Crude prices to $70 per barrel from $65 a barrel previously, due to upside pressure from geopolitical risks.   Early on Wednesday, Brent Crude traded 1% higher at above $66 per barrel as the market has started to price in a potential U.S. strike on Iran and the potential of supply disruptions in the region.  “We…