The U.S. government has now officially shut down after Republicans and Democrats failed to come to an agreement on a stopgap bill to fund operations. The impact of this shutdown will not stop at furloughed staff or shuttered museums. In energy, a shutdown lands with real force. It deprives markets of the official data that guide trading, erodes confidence in demand signals, lifts financing costs, and slows permits for the projects that underpin future supply. Oil, gas, and power don’t stop moving, but they move in murkier conditions, and…

Oil prices recovered slightly in early Asian trading on Wednesday after two straight sessions of steep declines, as traders weighed the prospect of a larger OPEC+ output increase against signs of tighter U.S. crude inventories.  At the time of writing, Brent futures for December delivery had climbed to $66.17 while WTI was trading at $62.50, up 0.21% on the day. The modest uptick comes after a sharp selloff earlier this week. On Monday, both Brent and WTI fell more than three percent, marking their steepest daily losses since August 1. The…

Oil prices recovered slightly in early Asian trading on Wednesday after two straight sessions of steep declines, as traders weighed the prospect of a larger OPEC+ output increase against signs of tighter U.S. crude inventories.  At the time of writing, Brent futures for December delivery had climbed to $66.17 while WTI was trading at $62.50, up 0.21% on the day. The modest uptick comes after a sharp selloff earlier this week. On Monday, both Brent and WTI fell more than three percent, marking their steepest daily losses since August 1. The…

Previously, we reported that U.S. oil production has maintained its upward trajectory in the current year even as oil prices have remained depressed. According to data from the Energy Information Administration (EIA), U.S. crude oil production hit an all-time high of 13.58 million barrels per day (mb/d) in June 2025, exceeding the previous record set in October 2024 by 50 thousand barrels per day (kb/d), and the pre-COVID November 2019 high by 582kb/d. Commodity experts at Standard Chartered have predicted that U.S. production will continue to…

Encouraged by the U-turn in the U.S. energy policies under President Trump, investors are back to backing oil and gas majors as the self-righteous ESG hype is waning, especially in corporate America. For all the environmental, social, and governance craze of the past few years in markets, ESG has done value investors one big favor—it has helped sink the valuations of oil and gas companies to bargain levels, alongside the oil price crash of 2020, of course. These super-low valuations of Big Oil and other oil and gas firms have encouraged bargain…

BP (NYSE:BP) is moving forward with plans to develop an offshore drilling project in the Gulf of Mexico worth $5 billion. It is expected to take five years for the Tiber-Guadalupe oil and gas project to come online. In 2030, the floating platform will have the capacity to produce 80,000 barrels of oil per day, en route to BP increasing its US upstream output to more than 1 million barrels of oil equivalent per day. Reuters said the announcement underscores the British energy major’s commitment to the US region to rebuild its oil and gas business,…

Three months ago, shares of rare earths companies ripped higher after MP Materials (NYSE:MP) unveiled a game-changing deal with the U.S. Department of Defense that marks the most aggressive federal intervention in the rare earths space in decades. The DoD-backed investment package will see the Nevada-based producer build out a fully domestic magnet supply chain and lock in long-term pricing support for neodymium-praseodymium, the critical alloy used in everything from fighter jets to iPhones.  MP shares doubled in a matter of days, with the…

Recent months have underscored how Canada’s implementation of its tariff rate quota (TRQ) system is reshaping the market for oil country tubular goods (OCTG) and linepipe. The system, rolled out this summer, is already influencing procurement strategies as companies adapt to tighter import channels and higher costs. Rystad Energy expects mild upward pressure on Canadian OCTG and linepipe prices in the medium term as demand from pipeline projects grows and competition for limited import quotas intensifies. The TRQ system took effect in two…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by another 3.674 million barrels in the week ending September 30. This is on top of last week’s 3.821 million barrel draw. So far this year, net crude oil inventories are have swung to a loss this week of 2.22 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 700,000 barrels to 406.7 million…

India is facing considerable international pressure to decarbonize its energy sector, but balancing energy security and a just transition with international climate accords is no easy feat. While India has historically adopted an ‘all of the above’ approach to energy policy, a more organized and comprehensive strategy is needed to walk the tightrope of the energy trilemma – establishing an energy mix that is sufficient, affordable, and sustainable. As energy demand rapidly increases, Indian electric grids require more and more…

On the back of a 45% surge in the price of gold this year, the US Treasury's hoard of the barbarous relic has surpassed $1 trillion in value for the first time in history. That is more than 90 times what's stated on the government's balance sheet and is reigniting speculation that Treasury Secretary Bessent could revalue (mark to market) the massive pile of precious metal.  Unlike most countries, the US’s gold is held by the government directly, rather than the central bank. The Fed instead holds gold certificates corresponding to the…

The U.S. Energy Information Administration just delivered a statistical shock: July’s monthly data shows U.S. total liquids output hitting a record 21.218 million barrels per day, nearly 500,000 bpd higher than the agency’s weekly estimates had implied. Crude production came in at 13.642 million bpd, with natural gas liquids at 7.577 million bpd—both stronger than traders had been working with. The upward revision wasn’t just on the supply side. EIA pegged total product supplied, its proxy for demand, at 20.984 mb/d, some…

This past June, the US EPA  revised its views on power plant emissions, particularly of coal-fired plants. In short, EPA is now in favor of emissions. OK, we’re kidding, but not by much. The agency proposed to rollback: 1) the Clean Air and Water Act, section 111, and 2) MATS, the Mercury and Air Toxics Standards for power plants, back levels established in 2012. (Both rules, the Biden administration strengthened in 2024, to the dismay of coal-fired power plant owners.) The proposed revisions to the CAA are based on two statements of…

The UK economy grew at a sluggish pace of 0.3 per cent in the second quarter of the year, official data has shown, another major setback for Chancellor Rachel Reeves’ as she hopes to oversee higher growth. The Office for National Statistics left its growth figure unchanged from a previous estimate as it confirmed its figures for growth in the second quarter, which is likely to be viewed cautiously by Treasury officials. The figure is much smaller than 0.7 per cennt growth seen in the first three months of the year, with firms reporting they…

OPEC has slammed the brake on speculation, flatly rejecting media reports that the G8 is preparing to hike crude oil production by half a million barrels per day. In a statement from Vienna on Tuesday, the OPEC Secretariat called the claims “wholly inaccurate and misleading,” stressing that discussions among ministers for the upcoming meeting haven’t even begun yet.  The statement, which reads more like a hostile rebuke, targets earlier media reports that suggested that OPEC+ was weighing a much larger oil production increase…

OPEC has slammed the brake on speculation, flatly rejecting media reports that the G8 is preparing to hike crude oil production by half a million barrels per day. In a statement from Vienna on Tuesday, the OPEC Secretariat called the claims “wholly inaccurate and misleading,” stressing that discussions among ministers for the upcoming meeting haven’t even begun yet.  The statement, which reads more like a hostile rebuke, targets earlier media reports that suggested that OPEC+ was weighing a much larger oil production increase…

OPEC has slammed the brake on speculation, flatly rejecting media reports that the G8 is preparing to hike crude oil production by half a million barrels per day. In a statement from Vienna on Tuesday, the OPEC Secretariat called the claims “wholly inaccurate and misleading,” stressing that discussions among ministers for the upcoming meeting haven’t even begun yet.  The statement, which reads more like a hostile rebuke, targets earlier media reports that suggested that OPEC+ was weighing a much larger oil production increase…

The story of energy in the Industrial Age has largely been about access to resources—first coal, then oil and gas. Today, that story is evolving. The next chapter isn’t about drilling fields, but about mastering the batteries and storage systems that can turn renewables into reliable power. Wind and solar are now the fastest-growing sources of electricity on the planet. But their fundamental weakness is intermittency: the sun doesn’t always shine, and the wind doesn’t always blow. Without storage, a grid built on renewables…

U.S. oil firm Sable Offshore Corp, which seeks to restart production offshore California via a pipeline to the coast, has unveiled an alternative offtake strategy after being sued by the Santa Barbara County District Attorney for environmental violations. This alternative strategy, a so-called Offshore Storage and Treating Vessel (OS&T) strategy, would entail seeking federal clearance to transport the oil from the offshore platforms via shuttle tankers. The strategy, aimed to provide access to domestic and global markets for federal crude oil…

U.S. oil firm Sable Offshore Corp, which seeks to restart production offshore California via a pipeline to the coast, has unveiled an alternative offtake strategy after being sued by the Santa Barbara County District Attorney for environmental violations. This alternative strategy, a so-called Offshore Storage and Treating Vessel (OS&T) strategy, would entail seeking federal clearance to transport the oil from the offshore platforms via shuttle tankers. The strategy, aimed to provide access to domestic and global markets for federal crude oil…