Russian Foreign Minister Sergei Lavrov traveled to Iran on October 19, meeting with President Masud Pezeshkian and Foreign Minister Abbas Araqchi amid questions over what support Moscow is providing Tehran to fight its war with the United States. Lavrov traveled to the Iranian capital directly from Manama, Bahrain, where he had attended a meeting with Gulf Cooperation Council officials. Gulf states have urged Moscow to use its influence to press Tehran to halt attacks on its neighbors. Lavrov also met with Iran's security chief, Mohsen Rezaei,…

The acceleration of plans for alternative routes to ship oil out of the Middle East could make the Strait of Hormuz “redundant” in five years, Georges Elhedery, chief executive of banking giant HSBC Group, said at the HSBC Future Forum 2026 in Dubai on Tuesday. “Of course, we do wish and hope to see a resolution to the conflict,” the executive said, as carried by Reuters. “But Hormuz, probably in five years’ time, may become redundant,” Elhedery added. The bank’s view stems from the rush among Middle…

The acceleration of plans for alternative routes to ship oil out of the Middle East could make the Strait of Hormuz “redundant” in five years, Georges Elhedery, chief executive of banking giant HSBC Group, said at the HSBC Future Forum 2026 in Dubai on Tuesday. “Of course, we do wish and hope to see a resolution to the conflict,” the executive said, as carried by Reuters. “But Hormuz, probably in five years’ time, may become redundant,” Elhedery added. The bank’s view stems from the rush among Middle…

Last year, China started requiring export licenses for rare earth magnets. Within weeks, Elon Musk was telling investors that production of Tesla's Optimus robot had been affected.  That's because every humanoid robot needs up to 4.5 kilos of rare earth magnets to move, and China makes more than 90% of the world's supply.  It's exactly the problem REalloys (NASDAQ: ALOY) has been building to help solve. The company is putting together a rare earth supply chain outside of China, from processing in Saskatchewan to metal-making in Ohio.…

The German electricity market has faced a double whammy this year—soaring wholesale prices amid the energy crisis and a planned reform in the renewable energy and grid access policies. Some small suppliers and start-ups relying on short-term electricity prices have exited the market amid day-ahead power prices surging by 50% in the third quarter from a year earlier. Moreover, the German government’s planned reform in the renewable market rules has drawn harsh criticism from renewable energy associations and one of the companies that…

The UK is among the most ambitious states when it comes to a transition to a net-zero economy. Also, the UK is struggling with some of the highest electricity prices in Europe—and is paying significant sums to maintain grid balance, even when its wind installations are generating plenty of electricity. Normally, the cost of maintaining a balanced grid, meaning stable and secure supply of electricity, is the highest when the weather affects alternative energy sources. In winter, for instance, solar panels do not generate as much as they do…

The ghosts of Baghdad and Kabul should be enough to silence any talk of sending American troops into Iran. Yet here we are, more than seven months into a war that began on 28 February with U.S.-Israeli strikes that killed Supreme Leader Ali Khamenei, and voices in Washington and Tel Aviv are again whispering that only boots on the ground can finish the job. Plans to seize Kharg Island, Iran’s main oil export terminal, or push inland to seize Iran’s enriched uranium have circulated since March. They are wrong. An invasion would be a…

The debate over new oil and gas fields usually ends in a familiar deadlock. Industry argues that production will still be needed for decades, supports jobs and reduces dependence on imports. Climate campaigners respond that every new field locks in emissions incompatible with net zero. Both sides then discuss carbon capture and storage as an afterthought: either a technological excuse for continued extraction or a costly public project unrelated to the licence being approved. There is a more useful option. If a government decides that a new oil…

Since taking office, Colombia’s far-right president, Abelardo de la Espriella, has moved aggressively to restore ties with Washington after relations frayed under Gustavo Petro. The rapprochement revives a decades-old strategic alliance that made Colombia one of Washington’s closest partners in Latin America. Early last month, the two countries agreed to deepen cooperation on critical minerals, including rare earths, tungsten and antimony. The move aligns with De la Espriella’s pledge to revive Colombia’s economically vital…

Qatar is offering to take over Lebanon's power supply problem at no upfront cost to Beirut. A draft program seen by Reuters has Qatar building two gas-fired power plants within three years and QatarEnergy supplying the gas under a 20-year LNG contract, with private financing in place of Lebanese public money. The document leaves payment obligations and guarantees open for negotiation, and Lebanon's state utility currently delivers only a few hours of electricity a day. The National Integrated Energy Investment Program includes two 825-megawatt…

Qatar is offering to take over Lebanon's power supply problem at no upfront cost to Beirut. A draft program seen by Reuters has Qatar building two gas-fired power plants within three years and QatarEnergy supplying the gas under a 20-year LNG contract, with private financing in place of Lebanese public money. The document leaves payment obligations and guarantees open for negotiation, and Lebanon's state utility currently delivers only a few hours of electricity a day. The National Integrated Energy Investment Program includes two 825-megawatt…

Sulfur has become an indispensable element for the modern industrial system, including agriculture. Before the outbreak of the Iran war, 24 percent of the world's supply of sulfur passed through the Strait of Hormuz. I can find no reliable information on whether sulfur is being shipped through the strait now after the Iranian government claimed control. I suspect the amount is close to zero. The sulfur price at the start of the Iran conflict was approximately $500 per metric ton for sulfur originating from the Middle East. It now sits above $800.…

Qatar is offering to take over Lebanon's power supply problem at no upfront cost to Beirut. A draft program seen by Reuters has Qatar building two gas-fired power plants within three years and QatarEnergy supplying the gas under a 20-year LNG contract, with private financing in place of Lebanese public money. The document leaves payment obligations and guarantees open for negotiation, and Lebanon's state utility currently delivers only a few hours of electricity a day. The National Integrated Energy Investment Program includes two 825-megawatt…

The Middle East crisis is threatening Pakistan’s tentative recovery from the brink with the help of the International Monetary Fund (IMF), as soaring energy prices and the lack of regular LNG supply from Qatar dragged growth in gross domestic product (GDP) well below analyst estimates. Pakistan’s economy grew by 2.0% in the quarter ended June, which is the fourth quarter of its fiscal year 2026, official data by the Pakistan Bureau of Statistics showed on Monday. The GDP growth was more than twice as slow in April to June compared to…

The Middle East crisis is threatening Pakistan’s tentative recovery from the brink with the help of the International Monetary Fund (IMF), as soaring energy prices and the lack of regular LNG supply from Qatar dragged growth in gross domestic product (GDP) well below analyst estimates. Pakistan’s economy grew by 2.0% in the quarter ended June, which is the fourth quarter of its fiscal year 2026, official data by the Pakistan Bureau of Statistics showed on Monday. The GDP growth was more than twice as slow in April to June compared to…

The oil price rally resumed its upward trajectory on Friday after the U.S. Central Command (CENTCOM) confirmed the sinking of the Singapore-flagged container ship following an Iranian Revolutionary Guard Corps (IRGC) projectile strike in the Strait of Hormuz. Brent crude for December delivery jumped 3.33% to trade at $109.50 per barrel at 2.35 pm ET, while WTI crude for November delivery was up 3.41% to change hands at $101.30/bbl, marking the first time the American benchmark has traded above $100/bbl in a month. However, Canadian crude continues…

Gasoline and fuel oil pushed Canada's annual inflation rate to 3.1% in September, up from 3.0% in August, as the war in the Middle East kept fuel prices high, Statistics Canada said on Monday. Gasoline prices rose 27.8% from a year earlier, up from 22.8% in August, despite the switch to the cheaper winter blend. Fuel oil and other fuels rose 57.8%, up from 43.7%, with the heaviest burden in Atlantic Canada, where many homes are heated with oil. The overall energy index climbed 19%, up from 15.4%, and transportation costs rose 8.4%. Grocery prices…

While it is very trendily woke to attack U.S. President Donald Trump whenever possible, the truth is rarely trendy or woke -- it is usually tough, pragmatic, and increasingly unpopular in today’s world. Precisely where his recent decision to import Russian diesel into the U.S. fits into this matrix remains to be seen, but there is a lot more to it than initially meets the eye. So, what is that exactly? On the face of it, there seems little sense to the deal struck between Washington and Moscow that will see Russia release 300,000 tonnes --…

Brent crude futures briefly tagged $109.99 a barrel in overnight trading before retreating from five-month highs during the Asian session and into European trading, as signs of recovering Middle Eastern supply offset renewed attacks on energy infrastructure and critical maritime shipping lanes. US Energy Secretary Chris Wright reinforced expectations of easing fuel prices at the pump, with ABC News quoting him on Sunday as saying gasoline and diesel prices had "peaked." "Both gasoline and diesel prices peaked a few weeks ago," Wright said, adding…

Mozambique is in discussions with South African energy firm Sasol and pipeline company ROMPCO to potentially invest in a new $250 million gas project offshore Mozambique that could send more gas to South Africa. Mozambique plans to have floating storage and regasification units (FSRUs) at the new project at the coastal town of Inhassoro and the port of Beira, as the country aims to become a “power hub” for the region, Rudêncio Morais, CEO and chairman of Mozambique’s national oil and gas company, Empresa Nacional de Hidrocarbonetos…