A Qatari LNG cargo is traveling north in the Red Sea to deliver gas to Europe via the Suez Canal in a rare shipment on the shortest but dangerous route to Europe amid the Houthi threats to tankers in the southern Red Sea and the Bab el-Mandeb Strait. The tanker loaded LNG from Qatar in August and is now moving north in the Red Sea with Poland as its destination, Bloomberg reported on Monday, quoting vessel-tracking data it had compiled. Qatar’s state firm QatarEnergy has a term contract with Polish energy group Orlen, as well as with other…

President Donald Trump defended his decision to waive sweeping sanctions planned against Russia as an effort to keep Moscow at the negotiating table amid strong criticism from Kyiv and some US lawmakers that it sends the wrong message to the Kremlin. Trump signed an executive order late on October 16 that waives new sanctions mandated by legislation named for the late US senator Lindsey Graham, an ardent supporter of Ukraine, days after giving temporary relief on Russian diesel sanctions. Trump signed last month at the urging of lawmakers who want…

A Qatari LNG cargo is traveling north in the Red Sea to deliver gas to Europe via the Suez Canal in a rare shipment on the shortest but dangerous route to Europe amid the Houthi threats to tankers in the southern Red Sea and the Bab el-Mandeb Strait. The tanker loaded LNG from Qatar in August and is now moving north in the Red Sea with Poland as its destination, Bloomberg reported on Monday, quoting vessel-tracking data it had compiled. Qatar’s state firm QatarEnergy has a term contract with Polish energy group Orlen, as well as with other…

Chinese exports of solar power equipment extended their declining trend this year with a 6.4% drop in September from a year earlier, while China’s authorities consider export controls and/or bans on a dozen solar manufacturing technologies.  The world’s top solar manufacturer shipped 1.21 million metric tons of solar cells and panels last month, according to customs data cited by Reuters. While the exports rose from August, they were over 6% lower compared to September last year, and contributed to a year-to-date slump of 9.5%…

Crude oil prices began the week with a dip on traders' expectations of a boost in diesel fuel supply under the deal agreed by the presidents of Russia and the United States. However, the dip in oil benchmarks came from a much higher point than a week ago, leaving prices palpably elevated. At the time of writing, Brent crude was changing hands for $107.84 per barrel, with West Texas Intermediate trading at $100.29 per barrel. This compares to $105.61 for a barrel of Brent crude last Monday and $93.37 for a barrel of WTI crude a week ago. The modest…

Last year, America needed roughly 48,000 metric tons of the most common rare earth magnet, and domestic sources supplied just 300 tons. The rest had to come from somewhere else, and China makes more than 90% of the world's supply. To make matters worse, in January, that supply gets cut from both directions.  On January 1, the Pentagon's ban on Chinese magnets in its supply chain takes effect, and just nine days later, China's toughest rare earth rules could snap right back into place. That’s exactly the problem REalloys (NASDAQ: ALOY)…

Freight is reshaping global oil trade and the prices producers can command for their crude. Soaring shipping costs are pushing delivered prices beyond what refiners are willing to pay, forcing sellers to cut differentials or find buyers closer to home. With Chinese refiners inclined to wait for transport costs to ease, some producers are committing barrels for future loading at prices that leave little room for today’s freight bill. Their returns increasingly depend on shipping becoming cheaper before those cargoes sail. The pressure is most…

The Hormuz crisis is not only hitting crude oil and gas, but also container shipping. It is also tightening its grip on global shipping through the fuel tanks of vessels carrying world trade. Disrupted exports, constrained refinery supplies, and increasingly unreliable deliveries are clearly at present pushing the bunker market into a dangerous position. Fuel remains available internationally, but securing the right grade at the right port within a commercially workable window is becoming harder. The consequences will be severe, especially for…

The process of increasing the maximum power level at which a commercial nuclear power plant may operate is called a power uprate. Several nuclear plants are now considering applying for permission to uprate operations to produce more power in the mid-term to bridge the gap while more nuclear capacity is being developed. The United States Nuclear Regulatory Commission (NRC) regulates the maximum power level at which a commercial nuclear power plant may operate. The permitted power level is stated in the license and technical specifications for the…

Iran's vast and restive southeastern province of Sistan-Baluchistan, located along the border with Afghanistan and Pakistan, has witnessed a deadly flare-up of violence in recent weeks. Armed groups and Iranian security forces have clashed almost daily across the impoverished province, the site of a decades-long, low-level insurgency. Separatist groups and Islamist militants in Sistan-Baluchistan, home to Iran's marginalized ethnic Baluch minority, are increasingly coordinating their efforts to challenge the Iranian state, experts say. The intensifying…

Electric vehicle (EV) and hybrid sales continue to rise, particularly in regions such as Europe and Asia, as people shift away from internal combustion engine (ICE) vehicles toward cleaner alternatives. However, there has long been a stigma surrounding high-end EVs and electric supercars, with most consumers sticking to the ICE versions. Now, several well-known automakers are offering hybrid and electric versions of their sports or high-end cars with impressive range and speeds, which are catching the eyes of a growing number of consumers. Automakers…

During the first three months or so of the U.S. and Israeli war with Iran, the dominant mood on oil markets was that the conflict would end any day now. The brief June ceasefire reinforced that optimism, so it took a while longer for facts to be faced: the war would not end any day now. It might even extend into next year—and this means higher prices for a longer time. The ICE Brent crude futures contract for January 2027 is trading at $102.59 per barrel. The June 2027 contract is only slightly lower, at $92.71 per barrel, and the December…

Despite the Iran war and the Hormuz crisis, the Middle East’s low-cost chemicals production is set to retain its long-term advantage over other regions. Near-term shifts in the sourcing of polymers are taking place due to the current constraints in the Persian Gulf’s industrial base, benefiting U.S. chemicals companies. But in the long run, the Middle East is likely to retain its buyers’ base because it still has the two levers to be competitive on the global market—an extensive production base and, most of all, low-cost…

The artificial intelligence boom is placing a dangerous strain on the world’s water and energy resources. As hyperscalers build up resource-hungry data centers at a breakneck pace, demand projections for these finite resources are skyrocketing faster than policymakers can keep pace. But a new study from researchers at the University of Texas at Austin suggests that there may be a way to sustainably source water for data centers by using wastewater from the oil and gas industry.  The water and energy use of AI data centers is enormous…

After months of elevated energy prices, Europe can expect fuel costs to continue rising through the winter months as demand grows. Ongoing energy trade constraints and threats to energy infrastructure across the Middle East are expected to limit global energy supplies and continue to drive up prices, hitting consumers hard unless governments intervene. The European Union (EU) is thought to have paid an additional €100 billion on oil and gas so far this year, prompting EU ministers to seek ways to manage the impact of high fuel prices. Since…

Years of underinvestment in Bolivia’s gas industry have left the South American country facing a severe fuel shortage, as energy prices rise ever higher owing to the ongoing war in Iran. The energy shortages and economic crisis follow years of poor decision-making by the government. In 2006, then-president Evo Morales took control of Bolivia’s fossil fuel industry, renegotiating contracts with international oil and gas companies and benefiting from the revenue. Much of the country’s newfound wealth was invested in public spending…

Rystad Energy’s fifth edition of its flagship annual report, Global Energy Scenarios (GES) 2026, finds that global reliance on imported energy is projected to peak by 2034 as energy security concerns accelerate the shift towards electrification. Against the backdrop of two major energy crises in five years, the report highlights how a broader range of rapidly deployable technologies is helping the energy system withstand major disruptions to energy flows. It explores how energy import dependency could evolve under three possible future scenarios,…

More than three decades after Norway opened parts of the Norwegian Sea to petroleum exploration, potentially significant oil and gas resources remain hidden beneath thick layers of volcanic rock. Now, advances in exploration technology and renewed industry interest could bring one of Europe's least explored offshore frontiers back into focus. Norway may still hold substantial undiscovered oil and gas resources in areas that have remained virtually untouched by exploration drilling for more than 30 years. According to the Norwegian Offshore Directorate,…

The United States is putting another 17 million barrels of crude from the Strategic Petroleum Reserve on offer, one day after the IEA accelerated emergency stock releases as governments scramble to get more oil and fuel into a tight market. The Department of Energy issued a request for proposals Friday for an exchange of up to 17 million barrels, part of the 172 million barrels Washington committed to make available under the IEA’s 400-million-barrel emergency action announced in March. The SPR currently holds about 283 million barrels. If…

The United States is putting another 17 million barrels of crude from the Strategic Petroleum Reserve on offer, one day after the IEA accelerated emergency stock releases as governments scramble to get more oil and fuel into a tight market. The Department of Energy issued a request for proposals Friday for an exchange of up to 17 million barrels, part of the 172 million barrels Washington committed to make available under the IEA’s 400-million-barrel emergency action announced in March. The SPR currently holds about 283 million barrels. If…