China has issued the first batch of fuel export quotas for the new year, at a total of 19 million tons, Reuters reported today, citing unnamed sources. The volumes were relatively unchanged on the first fuel export quota batch for this year. The quotas include gasoline, diesel, and jet fuel. In addition to those, Beijing also issued export quotas for 8 million tons of low-sulfur bunkering fuel. The bulk of the quotas, at over 70%, are going to state-owned energy majors Sinopec and CNPC. The two together received fuel export quotas for a total of…

Russia’s crude oil production this year will remain unchanged from the previous year at some 516 million tons, Deputy Prime Minister Alexander Novak said today, adding that in 2026, oil production should rise to 525 million tons, Interfax cited the official as saying. The 2025 total is equal to around 10.36 million barrels daily, to rise to 10.54 million barrels daily in 2036, based on a conversion ratio of 7.33 barrels in a ton. The 2026 increase is about 2% on this year and will be pursued “in accordance with the socio-economic development…

Crude oil prices were set for the most substantial gain since October this week amid intensifying U.S. pressure on Venezuela, with both Brent crude and West Texas Intermediate gaining over $2 per barrel in the last full week of 2025. A newly reported U.S. military strike on Islamic State terrorists in Nigeria contributed to the oil price climb. At the time of writing, Brent crude was trading at $62.41 per barrel... With West Texas Intermediate at $58.54 per barrel, after media cited President Donald Trump as saying U.S. forces had delivered a “powerful…

Santa runs on diesel. Every year, the global holiday economy depends on a short, unforgiving surge in distillate consumption that powers trucks, ports, warehouses, refrigeration, and backup generation, all under winter operating conditions. That commercially driven holiday cheer strains logistics and exposes how thin the margin has become in some already-tight diesel markets, particularly in Europe.  After crude, diesel is the most economically important fuel in the system, and Christmas is when that reality asserts itself. In the U.S., distillate…

When we talk about energy storage today, lithium-ion batteries tend to dominate the conversation. They are sleek, compact, and have become the default image of the clean energy revolution. Yet behind the headlines, a quieter cast of characters has been doing the heavy lifting. Some of the most effective ways to store energy are not based on exotic chemistry at all, but on gravity, heat, air, and even sand. They are often strange, wonderfully simple, and surprisingly effective. If the world’s energy transition were a movie, lithium-ion batteries…

The digital economy’s favorite gimmick...the subscription...has finally arrived for the world of physical steel and copper. Data from the latest sector forecasts indicates the commercial Energy as a Service (EaaS) market is set to double, ballooning from $28.79 billion in 2024 to over $55 billion by 2030.  On paper, it is a clean, easyu narrative: commercial landlords and data center operators trade their volatile utility bills and aging HVAC units for a smooth, predictable monthly fee. But when you audit the reality of a 11.4% compound…

The headlines from the London Metal Exchange tell a story of a world on the brink of a copper famine.  2025 is closing out with prices up nearly 40%...the most violent annual move since the post-crisis bounce of 2009.  We’ve watched prices breach $12,000 a tonne, a level that would usually imply the world’s electrical grids were physically melting. But if you look at the actual hardware...the physical metal sitting in sheds...the story isn't one of scarcity, but of a massive, expensive game of logistical hide-and-seek. The…

Santa runs on diesel. Every year, the global holiday economy depends on a short, unforgiving surge in distillate consumption that powers trucks, ports, warehouses, refrigeration, and backup generation, all under winter operating conditions. That commercially driven holiday cheer strains logistics and exposes how thin the margin has become in some already-tight diesel markets, particularly in Europe.  After crude, diesel is the most economically important fuel in the system, and Christmas is when that reality asserts itself. In the U.S., distillate…