The temperature has dropped noticeably on the Iran-Israel-U.S. front. What dominated headlines with shock and awe just two weeks ago is now receding into the background, replaced not by resolution, but by a quieter, more calculated equilibrium. Iran’s missile strike on Al Udeid was the loudest part of this cycle, but it was a fleeting burst of noise. What’s followed has been strategic restraint. No follow-up barrage, no mass mobilizations, no new sanctions of major consequence. On the U.S. side, the administration seems content to leave…

Under pressure to increase payouts to Saudi Arabia, the Kingdom’s state oil giant Aramco is considering selling up to five gas-fired power plants in deals that could raise some $4 billion, sources familiar with the plans told Reuters on Friday. Aramco has seen profits – and payouts to the Kingdom – decline this year with the slide in oil prices compared to last year’s levels. Saudi Arabia relies on income from oil exports and Aramco’s dividend payouts to finance an ambitious Vision 2030 program, with which the Saudi…

The president-designate of this year’s climate summit in Brazil played down accusations from campaigners that the South American country’s plans to boost oil and gas production is in conflict with the drive to reach net zero. “We are thinking of a ‘net zero’ that incorporates some years continuing to use oil,” André Corrêa do Lago, president-designate for the UN Climate Change Conference (COP30) in November told the Financial Times in an interview published on Friday. The pledge for transitioning…

The OPEC+ producers unwinding their oil production cuts may bring forward their meeting to Saturday instead of on Sunday, with another accelerated output hike likely to be agreed, delegates and sources from the group tell various news outlets ahead of the weekend. The eight OPEC+ members, which have been cutting production and are now returning supply to the market in monthly increments, may bring forward the meeting to July 5 from July 6, as it was originally planned, delegates from the group told Argus Media. The potential change in plans follows…

The UK government is launching its first onshore wind strategy, aiming to deliver up to 29 gigawatts (GW) of onshore wind power by the end of the decade. In the newly minted Onshore Wind Taskforce Strategy, the UK has set out more than 40 steps government and industry will take to help deliver the goal. That includes driving ambitious reforms to planning, grid connections, and routes to market, while building the supply chains and skilled workforce the UK needs. Last year, the UK removed the de facto ban on onshore wind in England, in place since…

Oil production from Canada’s oil heartland, Alberta, slumped to a two-year low in May as wildfires in the province and maintenance on some oil sands operations dragged oil output to a two-year low. Alberta produced on average 3.61 million barrels per day (bpd) of crude oil in May, according to provincial data cited by Bloomberg. Output plunged by 397,000 bpd from April, and stood at the lowest level since May 202 Production at oil sands projects plummeted by 384,000 bpd, to the lowest level seen in over four years, according to the data.…

Australia’s government is supporting with grant funding the development of a green hydrogen project in the country, which has recently seen setbacks in the sector with major projects canceled or halted. Australia, via the Hydrogen Headstart Program of Australian Renewable Energy Agency (ARENA), will back Orica’s Hunter Valley Hydrogen Hub with grant funding of $283 million (AUS$432 million), the government said on Friday. The Hunter Valley Hydrogen Hub (HVHH) project will produce renewable hydrogen using a 50-megawatt electrolyzer powered…

The oil market didn’t disappoint rollercoaster-ride fans in the first half of the year with wild price swings and sudden dips and price hikes.  U.S. trade policies, OPEC+ production policies, and the on-and-off war premium have all influenced market movements and traders’ behavior and strategies at some point over the past six months.      Oil Price Slump  Brent oil prices traded in a fairly narrow range in the first quarter of the year, in the low to mid $70s per barrel. Hedge funds and other portfolio…

When Chinese Xiaomi launched its first EV models last month, it sold more than 300,000 cars in a matter of three days. The electronics giant is eyeing international shipments in two years. Sinopec, meanwhile, is drilling for oil in Kazakhstan. The two are part of a growing trend: China is going global. There’s just not enough growth potential at home. This is what credit ratings major Moody’s said in a new report this week, noting that it expected the Chinese government to add fuel to the international expansion through financial support…

When the market reacts sharply to short-term pressures, long-term fundamentals often get obscured. That may be the case with Enphase Energy (NASDAQ: ENPH). Solar stocks have struggled in 2025. Enphase shares are down roughly 65% from 2024 highs, impacted by rising interest rates, shifting U.S. policy incentives, and slowing rooftop demand. Sentiment has weakened, and many investors have exited the sector, reallocating toward larger-cap utilities or oil and gas producers perceived as safer amid policy uncertainty. But Enphase remains a key player…

The precedent for politicized energy policy in the region is well known. The 1973 Arab oil embargo remains the most prominent example of hydrocarbons being wielded as geopolitical leverage. But in the decades since, Gulf NOCs have moved away from direct entanglement in regional conflicts, particularly Arab-Israeli or Iranian-Israeli hostilities. Instead, they have matured into commercial and strategic instruments aligned with national agendas focused on long-term stability, economic diversification, and global market integration. This evolution…

The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Thursday, following a 7-rig decrease in the week prior. The total rig count in the US fell by 8 to 539 rigs, according to Baker Hughes, down 46 from this same time last year. The number of oil rigs fell by 7 to 425 after falling by 6 during the previous week—and down by 54 compared to this time last year. The number of gas rigs fell by 1 this week, to 108 for a gain of 7 active gas rigs…

Via Metal Miner   Chinese automaker BYD recently appointed Austria’s Voestalpine as its first steel supplier for the planned production plant in Hungary. On June 24, the Linz-headquartered steel industry leader officially announced it will begin supplying autobody and outer-skin components from its rolling mills to BYD’s Szeged plant in Q4 2025. Szeged sits about 180 kilometers south of Hungary’s capital, Budapest, near the national border with Serbia. BYD officially announced plans to build a passenger vehicle factory in…

China has avoided buying U.S. crude oil for three straight months—the longest dry spell since 2018—delivering another hit to American shale producers already struggling with weak prices and rising global supply. According to new U.S. Census data released Thursday, China bought no American crude in May, following a similar freeze in March and April. The gap comes amid ongoing trade tensions between Washington and Beijing and has dragged total U.S. crude exports to their lowest level in more than two years. The timing couldn’t be…

China has avoided buying U.S. crude oil for three straight months—the longest dry spell since 2018—delivering another hit to American shale producers already struggling with weak prices and rising global supply. According to new U.S. Census data released Thursday, China bought no American crude in May, following a similar freeze in March and April. The gap comes amid ongoing trade tensions between Washington and Beijing and has dragged total U.S. crude exports to their lowest level in more than two years. The timing couldn’t be…

India’s Hindustan Zinc is moving into rare earths, but commercial production could take up to five years, underscoring the hurdles of building a domestic supply chain to challenge China's grip on the sector. "This (rare earth) is of strategic interest (to India)," said CEO Arun Misra in an interview, according to Nikkei Asia. The company was the only private bidder to win a monazite mining block in Uttar Pradesh in a government auction in May. However, exploration and reserve analysis will take three to four years. "The first part is exploration…

A U.S. court officer on Wednesday officially recommended awarding a $7.38-billion winning bid to mining firm Gold Reserve and investor group Dalinar Energy for PDV Holding, the parent company of Citgo Petroleum, Reuters reported. The move positions Dalinar as the lead contender to seize control of one of the largest independent refiners in the U.S., capping a high-stakes auction that has drawn scrutiny across the board.  The bid, which is substantially above the $3.7-billion “floor price” approved in April, would mark the largest…

Denmark has taken over the six-month rotating presidency of the Council of the European Union as questions swirl over Europe's security and trade and a war still raging on its eastern flank. "Europe is at a defining moment in time," Danish Prime Minister Mette Frederiksen said in her welcome message as the country took the helm of Europe's leadership from July 1. "The world that secured our freedom and made us prosper can no longer be taken for granted." While there isn’t much Copenhagen can do about some of the issues that will face the…

The floating LNG import terminal in Mukran in the German part of the Baltic Sea achieved in the second quarter record-high gas deliveries for Germany’s gas grid, the terminal operator Deutsche ReGas said in a statement. That’s a stark turnaround from the first quarter of the year, when the Mukran terminal was estimated to have operated at just 5% capacity, per Reuters calculations. Until the end of the first quarter, there have been concerns that the LNG terminals in Germany and France have sat idle for months due to high operating…

The floating LNG import terminal in Mukran in the German part of the Baltic Sea achieved in the second quarter record-high gas deliveries for Germany’s gas grid, the terminal operator Deutsche ReGas said in a statement. That’s a stark turnaround from the first quarter of the year, when the Mukran terminal was estimated to have operated at just 5% capacity, per Reuters calculations. Until the end of the first quarter, there have been concerns that the LNG terminals in Germany and France have sat idle for months due to high operating…