Saudi Arabia spent weeks finding ways around the Strait of Hormuz. Now it is starting to send tankers straight back through it. Saudi Aramco resumed crude loadings from its Ras Tanura and Juaymah terminals inside the strait last week, ending a three-week gap in activity at the ports, according to Kpler and Vortexa data cited by Reuters. Three VLCCs—Malaysia Prosperity, Algeria Prosperity and Singapore Prosperity—each loaded roughly 2 million barrels between August 12 and August 16. Six more VLCCs could load Saudi crude from inside Hormuz…

Saudi Arabia spent weeks finding ways around the Strait of Hormuz. Now it is starting to send tankers straight back through it. Saudi Aramco resumed crude loadings from its Ras Tanura and Juaymah terminals inside the strait last week, ending a three-week gap in activity at the ports, according to Kpler and Vortexa data cited by Reuters. Three VLCCs—Malaysia Prosperity, Algeria Prosperity and Singapore Prosperity—each loaded roughly 2 million barrels between August 12 and August 16. Six more VLCCs could load Saudi crude from inside Hormuz…

Despite apparent financing difficulties hovering over the construction of nuclear reactors in Uzbekistan, the Russian nuclear agency Rosatom has announced it is developing a training program for Uzbek technicians who will eventually operate the plant. Rosatom specialists need to develop new, specific training modules for what is envisioned as an “integrated nuclear plant” featuring the operation of both large-scale and small modular reactors. “This requires developing training materials tailored to the specifics of small reactors,…

Brent and WTI futures remain below $100 a barrel on Tuesday morning, partly suppressed by governments releasing strategic oil reserves into global markets. But the more serious issue is building downstream, where the Russia-Ukraine war, strikes against energy infrastructure, and continued disruptions around the Strait of Hormuz are fueling the refined-products "perfect storm" we have repeatedly warned about. Oil extended gains this morning, with Brent trading around $91 a barrel after another vessel attack was reported near the Hormuz maritime…

Chinese exports of solar cells and panels dropped in July as the removal of the local export tax rebate as of April 1 continued to depress exports for the third straight month. China’s solar equipment exports declined by 21.4% last month from a year earlier, according to Chinese customs data cited by Reuters on Tuesday. The world’s top solar panel and cell manufacturer scrapped, effective April 1, 2026, export tax rebates for the value added tax (VAT) of photovoltaic products, including solar cells and panels. China will also withdraw…

Chinese exports of solar cells and panels dropped in July as the removal of the local export tax rebate as of April 1 continued to depress exports for the third straight month. China’s solar equipment exports declined by 21.4% last month from a year earlier, according to Chinese customs data cited by Reuters on Tuesday. The world’s top solar panel and cell manufacturer scrapped, effective April 1, 2026, export tax rebates for the value added tax (VAT) of photovoltaic products, including solar cells and panels. China will also withdraw…

Russia's Supreme Court has rejected an appeal by the Yabloko party, the sole officially registered party to openly oppose Moscow's war on Ukraine, against its removal from the ballot for September parliamentary elections. In a separate hearing on August 17, a court in the city of Pskov sentenced an outspoken deputy chairman of Yabloko, Lev Shlosberg, to more than 11 years in prison after convicting him under a law designed to punish critics of the war. The rulings display the Kremlin's determination to silence dissent, particularly when it comes…

Gulf oil producers are finding new ways around the Strait of Hormuz, but bypassing the world’s biggest oil chokepoint creates new risks. VLCC Rates Go Ballistic as Hormuz Turns Into a Freight Jackpot - VLCC prices are ballooning out of control (once again), pushing assessed earnings for a Middle East-to-China voyage beyond $500,000 per day as the flow of vessels moving out of the Gulf trickled down to a mere couple per day. - Amidst news that Saudi Aramco resumed crude loadings at its key Ras Tanura export terminal, VLCC fixing costs for…

Brent at $90.94 looks almost civilized. Jeff Currie thinks that is exactly the problem: everyone is staring at crude while the real energy shock is already showing up in the fuels people actually buy. “Nobody on the planet earth consumes crude oil,” Currie told CNBC. Refineries do. Everyone else consumes gasoline, diesel and jet fuel, and those markets look considerably uglier. European diesel was trading around $170 per barrel during the interview, Currie said, almost twice Brent’s current $90.94. WTI was trading at $84.94 Tuesday.…

Brent at $90.94 looks almost civilized. Jeff Currie thinks that is exactly the problem: everyone is staring at crude while the real energy shock is already showing up in the fuels people actually buy. “Nobody on the planet earth consumes crude oil,” Currie told CNBC. Refineries do. Everyone else consumes gasoline, diesel and jet fuel, and those markets look considerably uglier. European diesel was trading around $170 per barrel during the interview, Currie said, almost twice Brent’s current $90.94. WTI was trading at $84.94 Tuesday.…

Brent at $90.94 looks almost civilized. Jeff Currie thinks that is exactly the problem: everyone is staring at crude while the real energy shock is already showing up in the fuels people actually buy. “Nobody on the planet earth consumes crude oil,” Currie told CNBC. Refineries do. Everyone else consumes gasoline, diesel and jet fuel, and those markets look considerably uglier. European diesel was trading around $170 per barrel during the interview, Currie said, almost twice Brent’s current $90.94. WTI was trading at $84.94 Tuesday.…

Romania has this week restarted a 300-megawatt coal-fired power plant to partially offset the generation lost by the closure of nuclear electricity output after the low water level on the Danube river forced a shutdown of the country’s only nuclear power plant. Romania, which lost 20% of its power generation with the closure of both rectors at its Cernavoda nuclear power plant, has restarted the Rovinari Group 4 coal-fired power unit. The additional coal-fired generation is adding nearly 300 megawatts (MW) to the National Energy System, Cristian…

Romania has this week restarted a 300-megawatt coal-fired power plant to partially offset the generation lost by the closure of nuclear electricity output after the low water level on the Danube river forced a shutdown of the country’s only nuclear power plant. Romania, which lost 20% of its power generation with the closure of both rectors at its Cernavoda nuclear power plant, has restarted the Rovinari Group 4 coal-fired power unit. The additional coal-fired generation is adding nearly 300 megawatts (MW) to the National Energy System, Cristian…

Britain faces a simple choice. While we still need oil and gas, do we produce more of it here, supporting jobs, investment, energy security and lower production emissions, or do we import more from overseas, which costs more and involves higher emissions? That is the real question facing ministers as they consider Jackdaw and Rosebank. With extreme weather becoming ever more visible, the need to tackle climate change is beyond doubt. The UK must scale up renewable and low-carbon energy, but people deserve honesty. Even on our path to net zero,…

Power Metals is advancing what it describes as North America’s only cesium project at a time when America’s defense ambitions are colliding with the reality of critical mineral supply chains. The U.S. imports 100% of its required cesium, a rare mineral used in atomic clocks, GPS systems, aerospace solar technology, advanced communications networks, and high-tech defense equipment. That could make a high-grade cesium discovery in Ontario a potential source of new North American supply. And now it’s moved from a discovery story…

U.S. oil companies dominating the shale patch are planning to trim their spending plans and instead take advantage of higher international oil prices to reduce debt and boost shareholder returns. This is bad news for production growth. Bloomberg reported earlier this month that all the big names in shale had reduced their spending over the first six months of the year. Chevron and ConocoPhillips spent 10% less in the period while Occidental slashed its spending on operations in the Permian by as much as a fifth over the first half of the year.…

The rise of automation, AI, and electric trucks can fundamentally change the freight transportation industry in the United States, leading to a revolution in transport fuel demand. Various vehicle and technology companies and U.S. cities and states have launched in recent years automation trucking pilot programs. In barge transportation on the Mississippi River, AI-assisted co-pilot projects are already being used to make transportation more efficient. The increase in efficiency, via technological, autonomous, or AI-enabled systems, could optimize…

The proposed Libya–Egypt crude oil pipeline has, surprisingly quickly, entered a phase in which Cairo and Tripoli are actively discussing it. The pipeline, expected to be 800 kilometers long, will connect Tobruk in eastern Libya to Egypt’s port of Alexandria, allowing Libyan crude to flow directly into Egypt's Mediterranean refining system. With an expected cost of over $1 billion, it represents a significant strategic opportunity. However, neither the final capacity, financing structure, nor investment decision has yet been agreed.…

Strategic shortfalls? Maybe in getting cobalt out of the Congo or rare earth powders from China or natural gas from Russia or oil from the Persian Gulf? Or maybe something closer to home. Thanks to climate change (yes, just say it and hope the big boss doesn’t hear you), temperatures have risen, and rainfall patterns have changed dramatically. As an example of the consequences, the Colorado River’s flow has diminished and Lake Mead, its principal reservoir, has dropped to record low water levels. Aside from the obvious impact on water…

Carbon capture is still debated as if technical performance were the decisive question. Can a solvent remove carbon dioxide from flue gas? Can the CO2 be compressed, transported and injected underground? Will the storage remain secure? These questions matter, but they no longer explain why most announced projects do not reach construction. The missing component is usually commercial. A cement plant can capture carbon and still lose money on every tonne. A storage site can be technically ready and remain empty without contracted volumes. A pipeline…