Supervisors at BHP’s Escondida, the world’s largest copper mine, said they would strike at 8 a.m. local time Wednesday after government-led mediation failed to produce a contract. The union represents about 1,020 workers at a mine that supplies roughly a quarter of Chile’s copper, and the stoppage follows a walkout at Antofagasta’s Centinela that began Oct. 7. Both land as governments across the Andes ask miners for far more copper, not less. Demand will not wait S&P Global projects that copper demand will climb from…

Russian Deputy Prime Minister Alexander Novak said on Wednesday that the diesel agreement with the United States is linked to higher Russian refining and production and means additional taxes for the budget. He spoke to journalists at Russian Energy Week in Moscow, calling the agreement "a positive signal for our economy", and saying it brings spending on the social sphere and opportunities for investment. Russian Finance Minister Anton Siluanov said on Tuesday that Russia has no export duties on diesel and that the exports will be reflected in…

Russian Deputy Prime Minister Alexander Novak said on Wednesday that the diesel agreement with the United States is linked to higher Russian refining and production and means additional taxes for the budget. He spoke to journalists at Russian Energy Week in Moscow, calling the agreement "a positive signal for our economy", and saying it brings spending on the social sphere and opportunities for investment. Russian Finance Minister Anton Siluanov said on Tuesday that Russia has no export duties on diesel and that the exports will be reflected in…

Russian Deputy Prime Minister Alexander Novak said on Wednesday that the diesel agreement with the United States is linked to higher Russian refining and production and means additional taxes for the budget. He spoke to journalists at Russian Energy Week in Moscow, calling the agreement "a positive signal for our economy", and saying it brings spending on the social sphere and opportunities for investment. Russian Finance Minister Anton Siluanov said on Tuesday that Russia has no export duties on diesel and that the exports will be reflected in…

When Big Tech signed President Trump's Ratepayer Protection Pledge in March, promising to pay for all the new grid infrastructure upgrades required to service their data centers, we cautioned that "voluntary pledges from trillion-dollar tech giants have a habit of evolving." Seven months later, the hyperscalers are pushing back on how much of the grid's bill is theirs to pay. The past week brought a Democratic Senate report and a North Carolina utility settlement, and FERC is expected to rule on whether new data centers must bring their own power.…

China’s imports of coal fell in September by 6% from a year earlier, customs data showed on Wednesday, as Chinese inventories remain robust, supply from key exporter Indonesia remains restricted, and import prices jump. Last month, China imported 43.37 million tons of all types of coal, up by 3% compared to August but still 5.7% below a year earlier, preliminary data from the General Administration of Customs (GACC) showed. The average import price for China’s coal jumped in September to its highest since 2024, analysts at Mysteel Global…

An unseasonable heat blast across the Midwest and Mid-Atlantic has landed in the middle of PJM Interconnection’s fall maintenance season, and the grid that serves 67 million people is running thin. PJM issued a Maximum Generation Alert for Tuesday and kept a capacity advisory in place through Wednesday, with roughly 62,000 megawatts of generation offline for planned work. Bloomberg reported that spot power at PJM’s Western hub hit $1,021 per megawatt-hour Tuesday afternoon, more than double the day-ahead average for that hour. Day-ahead…

India’s natural gas demand has declined by 1.5 million tons so far this year as the Iran war choked LNG supplies from the Middle East, hiked spot prices, and destroyed some demand across South Asia, energy consultants Wood Mackenzie said in a report. Before the war, WoodMac’s analysts had expected LNG demand across South Asia to rise by 7% this year compared to 2025, or by 2.7 million tons. But after the war trapped most LNG supply from Qatar and the United Arab Emirates (UAE) in the Persian Gulf without any route to bypass the Strait…

India’s natural gas demand has declined by 1.5 million tons so far this year as the Iran war choked LNG supplies from the Middle East, hiked spot prices, and destroyed some demand across South Asia, energy consultants Wood Mackenzie said in a report. Before the war, WoodMac’s analysts had expected LNG demand across South Asia to rise by 7% this year compared to 2025, or by 2.7 million tons. But after the war trapped most LNG supply from Qatar and the United Arab Emirates (UAE) in the Persian Gulf without any route to bypass the Strait…

After four years of speculation, leaks, and briefings by anonymous sources, the world is finally about to hear evidence given publicly under oath in a German courtroom about how the Nord Stream gas pipelines were blown up -- in a case that could prove politically explosive. German prosecutors have identified seven Ukrainian suspects, but just one of them is in the dock in the trial beginning on October 14. He is named as Serhii K. in court documents that say he is suspected of being an accomplice to a war crime. That classification has caused outrage.…

Saudi Aramco’s newest joint venture refinery in China has received its first cargo of Arab crude as it prepares for start-up, the Saudi oil giant said in a statement to Bloomberg on Wednesday, without providing a timeline for the start of commercial operations. Saudi Arabia and its state-owned oil giant early this decade embarked on a strategy to set up joint ventures with local Chinese partners to build refineries that would process Arab crude grades, to secure deliveries in China in the long term. The Huajin Aramco Petrochemical Company…

The U.S. Consumer Price Index (CPI) report is due to be released on Wednesday, with economists predicting that key inflation metrics continued to moderate in September despite elevated oil prices, giving the Fed room to slow down on interest rate hikes. For September, economists expect headline inflation growth to clock in at 0.5% month-over-month and 3.6%- 3.7% year-over-year, up from 0.4% m-o-m and 3.4% Y/Y in August.  Meanwhile, core CPI, which excludes volatile energy and food prices, is seen climbing 0.2% in September, down from August’s…

The Middle East crisis has driven tanker rates to all-time highs and created a shortage of vessels. This oil logistics problem is now causing a ripple effect, tipping the heavy crude market in North and South America into oversupply—while Asia and Europe grapple with a shortage of heavy grades. Canada is producing over 5 million barrels of crude daily, most of it heavy crude. Some 4 million barrels daily of that goes south to U.S. refineries. Venezuelan production has also moved higher after the U.S. disposed of the country’s government…

The LNG supply out of the Middle East has not recovered in any meaningful way seven and a half months after the Iran war choked oil and gas shipments through the Strait of Hormuz. Since March, some occasional LNG cargoes have managed to squeeze through the chokepoint where a fifth of global liquefied Natural Gas supplies passed before the war. The rare shipments are not making much of a difference in the global gas market, which suddenly found itself without a fifth of daily LNG supplies and whose second-largest producer, Qatar, is now barely moving…

OPEC just put a very large number on next year’s oil market: global demand growth of 2.6 million barrels per day in 2027, after growth of just 200,000 bpd this year. That would push average world oil demand from 105.7 million bpd in 2026 to 108.3 million bpd next year. OPEC also revised its 2027 demand forecast higher this month, even as it nudged this year’s growth estimate lower. Part of that jump has little to do with people suddenly driving a lot more. OPEC expects inventory rebuilding to contribute to next year’s demand as…

OPEC just put a very large number on next year’s oil market: global demand growth of 2.6 million barrels per day in 2027, after growth of just 200,000 bpd this year. That would push average world oil demand from 105.7 million bpd in 2026 to 108.3 million bpd next year. OPEC also revised its 2027 demand forecast higher this month, even as it nudged this year’s growth estimate lower. Part of that jump has little to do with people suddenly driving a lot more. OPEC expects inventory rebuilding to contribute to next year’s demand as…

OPEC just put a very large number on next year’s oil market: global demand growth of 2.6 million barrels per day in 2027, after growth of just 200,000 bpd this year. That would push average world oil demand from 105.7 million bpd in 2026 to 108.3 million bpd next year. OPEC also revised its 2027 demand forecast higher this month, even as it nudged this year’s growth estimate lower. Part of that jump has little to do with people suddenly driving a lot more. OPEC expects inventory rebuilding to contribute to next year’s demand as…

Permian producers spent much of this year paying buyers to haul away the natural gas that comes up with their oil. Waha Hub spot prices stayed below zero for a record 90 days in a row before turning positive on June 16, Reuters reported, and the hub had averaged minus $2.19 per million British thermal units for the year up to that point. Four of the five companies below still posted record results in the second quarter. Three of the five don’t drill at all, and one of the two that do works mostly in North Dakota, far from Waha. The U.S. Energy…

A new model for nuclear fusion has potentially discovered a significantly more energy-efficient way to achieve nuclear fusion, and flipped everything we thought we knew about the fusion process. The scientists’ modelling also flips the traditional order of operations for managing and sustaining plasma in a controlled fusion experiment. Traditionally, fusion processes start by compressing plasma for higher density, and then heating it to superhot temperatures. However, new modelling from the United States Department of Energy’s Princeton…

Guyana, one of the world's newest oil exporters, is poised to surpass one million barrels per day in crude oil exports for the first time this December, marking another extraordinary milestone for the small South American country. According to Bloomberg, December's preliminary loading schedule includes 33 million barrels of crude exports, equivalent to approximately 1.06 million bpd. The first shipment of the country's new Uaru crude grade is scheduled for December 11–12, with total Uaru exports expected to reach four million barrels during…