The European Union has drawn a line in the sand. By 2027, the bloc intends to phase out Russian natural gas imports completely.  But as the policy ink dries in Brussels, a new challenge is emerging in the real economy… We might not have enough hands to build the infrastructure that replaces it. International Energy Agency (IEA) Executive Director Fatih Birol stood alongside European Commission President Ursula von der Leyen last week and called it the "end of an era." But he also delivered a warning.  The transition away from Russian…

The national average price of gasoline has continued on a downward trend after dropping below $3 a gallon a week ago, sinking to their lowest level since 2021. The median U.S. gas price is now $2.79 per gallon, with the national average 4 cents lower from a week ago. However, prices vary widely by state, with motorists in Oklahoma paying $2.366 per gallon compared to $4.469 in California. Diesel prices have seen an even steeper decline, with the national average price of diesel currently standing at $3.671 per gallon, 5.1 cents lower than a week…

The national average price of gasoline has continued on a downward trend after dropping below $3 a gallon a week ago, sinking to their lowest level since 2021. The median U.S. gas price is now $2.79 per gallon, with the national average 4 cents lower from a week ago. However, prices vary widely by state, with motorists in Oklahoma paying $2.366 per gallon compared to $4.469 in California. Diesel prices have seen an even steeper decline, with the national average price of diesel currently standing at $3.671 per gallon, 5.1 cents lower than a week…

Tesla shares slipped more than 4% on Monday after Morgan Stanley cut its rating on the stock to Equal-weight from Overweight, even as the firm raised its price target to $425 from $410. With Tesla changing hands around $455 into the move, the new target implies modest downside and a more balanced risk-reward profile in the eyes of the bank’s analysts. The downgrade also coincides with a notable change in coverage leadership. Longtime Tesla watcher Adam Jonas is no longer the primary analyst on the name. Coverage is now being assumed by a…

The European Commission’s announcement of the first-ever EU-wide industrial electrification auction marks more than a new funding mechanism; it represents a philosophical shift in how Europe intends to decarbonize its industries, and a signal that, at least for now, electrons are pulling ahead of molecules in the energy transition race. With a budget of €1 billion under the Innovation Fund, the pilot auction will subsidize the direct electrification of industrial process heat, one of the most stubborn and carbon-intensive parts of the…

When we hear the word "byproduct," it often designates something unwanted or even negative coming out of a decision or process that provides some product or outcome we do want. In the world of mining, however, byproducts are often valuable minerals produced in the course of extracting other desired minerals from their ores. For example, zinc mines often also produce profitable quantities of lead and silver. And, it can be the other way round; gold, silver and copper mines can sometimes also contain profitable quantities of zinc. I mention zinc,…

Crude flow from Lukoil’s West Qurna-2 storage tanks has resumed toward the major Tuba depots after a weekend shutdown, two energy sources told Quantum Commodity Intelligence. Full field operations are expected to be restored between 1 a.m. and 2 a.m., following a precautionary halt triggered by a pipeline leak. West Qurna-2 is one of the world’s largest oilfields, producing roughly 460,000 barrels per day and holding an estimated 13 billion barrels of recoverable reserves—about 10% of Iraq’s total output. Lukoil operates…

Crude flow from Lukoil’s West Qurna-2 storage tanks has resumed toward the major Tuba depots after a weekend shutdown, two energy sources told Quantum Commodity Intelligence. Full field operations are expected to be restored between 1 a.m. and 2 a.m., following a precautionary halt triggered by a pipeline leak. West Qurna-2 is one of the world’s largest oilfields, producing roughly 460,000 barrels per day and holding an estimated 13 billion barrels of recoverable reserves—about 10% of Iraq’s total output. Lukoil operates…

Crude flow from Lukoil’s West Qurna-2 storage tanks has resumed toward the major Tuba depots after a weekend shutdown, two energy sources told Quantum Commodity Intelligence. Full field operations are expected to be restored between 1 a.m. and 2 a.m., following a precautionary halt triggered by a pipeline leak. West Qurna-2 is one of the world’s largest oilfields, producing roughly 460,000 barrels per day and holding an estimated 13 billion barrels of recoverable reserves—about 10% of Iraq’s total output. Lukoil operates…

In recent weeks, the European Union has seemed to be upping the ante regarding its addiction to Russian hydrocarbons. Internal pressure and market realities seem to be forcing Brussels to close the door to Moscow, full stop. As indicated by the new agreement to phase out all Russian gas imports by 2027 and LNG by the end of 2026, European leaders reiterated that the EU is finally severing the last remaining pipelines, literal and political, that it still binds to Moscow. Even though all statements are emphatic, stating an ambitious timeline and…

Total fuel demand in India, the world’s third-biggest crude oil importer, surged in November to the highest level in six months as construction and agriculture activity picked up after the end of the monsoon season.  India consumed 21.27 million tons of fuels of all kinds in November, up by 3% from a year earlier, and the highest level since May 2025, before the monsoon season began, data from India’s Petroleum Ministry showed.   Gasoline demand fell from the festive month of October in November, but was 2.6% higher last month…

Total fuel demand in India, the world’s third-biggest crude oil importer, surged in November to the highest level in six months as construction and agriculture activity picked up after the end of the monsoon season.  India consumed 21.27 million tons of fuels of all kinds in November, up by 3% from a year earlier, and the highest level since May 2025, before the monsoon season began, data from India’s Petroleum Ministry showed.   Gasoline demand fell from the festive month of October in November, but was 2.6% higher last month…

Brent crude has drifted into the low-$60s, a price corridor OPEC+ has spent the better part of two years trying to defend through disciplined supply management. Yet the market’s center of gravity is shifting. Independent forecasts now point to a looming surplus of 2.1–4 million barrels per day in early 2026. Against that backdrop, OPEC+ has chosen what it calls a “strategic pause,” rolling over production quotas rather than deepening cuts. The decision is meant to stabilize prices. But it raises a more fundamental question:…

The United Arab Emirates is growing its LNG exports to meet surging global demand that will outpace investment in supply, according to the UAE’s Energy Minister Suhail al-Mazrouei. “We intend not only to satisfy our local demand, but we are also growing our export of LNG,” the minister told Reuters on the sidelines of the Abu Dhabi Financial Week. “I agree with his excellency, Minister of Qatar, that the demand is going to be much, much more than the projects that we are seeing,” the UAE official added. This weekend,…

The United Arab Emirates is growing its LNG exports to meet surging global demand that will outpace investment in supply, according to the UAE’s Energy Minister Suhail al-Mazrouei. “We intend not only to satisfy our local demand, but we are also growing our export of LNG,” the minister told Reuters on the sidelines of the Abu Dhabi Financial Week. “I agree with his excellency, Minister of Qatar, that the demand is going to be much, much more than the projects that we are seeing,” the UAE official added. This weekend,…

The United Arab Emirates is growing its LNG exports to meet surging global demand that will outpace investment in supply, according to the UAE’s Energy Minister Suhail al-Mazrouei. “We intend not only to satisfy our local demand, but we are also growing our export of LNG,” the minister told Reuters on the sidelines of the Abu Dhabi Financial Week. “I agree with his excellency, Minister of Qatar, that the demand is going to be much, much more than the projects that we are seeing,” the UAE official added. This weekend,…

Ukrainian President Volodymyr Zelenskyy was set to meet with key European allies after US President Donald Trump accused him of not reading the latest peace proposal. The December 8 talks in London follow three days of negotiations between Ukrainian and US officials near Miami as negotiators try to find agreement following the release of a US draft peace proposal last month. The 28-point plan was seen as heavily favorable to Russia, and Kyiv has pushed back on some of the more strident, hard-line demands that President Vladimir Putin has pushed…

U.S. exports of liquefied natural gas have been on a record-breaking streak this year, on track to book a 40% annual surge in November, thanks to strong European demand. There is just one problem: this strong demand is fueling higher prices; higher prices are eating into LNG exporters’ profits. When European energy supermajors went after Venture Global, they accused the company of making billions on the spot market while violating its contracts with the supermajors. Venture Global did indeed make billions—and it wasn’t the only…

As U.S. natural gas prices jumped to a three-year high, coal has become a cheaper power-generating fuel for utilities, which are set to run coal-fired generators harder this winter. U.S. benchmark natural gas prices at Henry Hub have jumped from $4.23 per million British thermal units (MMBtu) at the start of November to above $5 per MMBtu by early December. Early on Friday, the front-month futures price was $5.084 per MMBtu. That’s the highest price in three years, as a polar vortex with freezing temperatures and snowstorms gripped most…

There is a rising global interest in extracting much-needed critical minerals from the Arctic to meet the growing needs for various metals and minerals. However, environmentalists are concerned about what impact the exploitation of vast untapped reserves in the region might have on wildlife and the environment. Despite potentially holding huge reserves of critical minerals, several countries have previously avoided mining activities and other invasive actions in the Arctic due to its fragile nature and the wide array of unknown challenges to development.…