An unseasonable heat blast across the Midwest and Mid-Atlantic has landed in the middle of PJM Interconnection’s fall maintenance season, and the grid that serves 67 million people is running thin. PJM issued a Maximum Generation Alert for Tuesday and kept a capacity advisory in place through Wednesday, with roughly 62,000 megawatts of generation offline for planned work. Bloomberg reported that spot power at PJM’s Western hub hit $1,021 per megawatt-hour Tuesday afternoon, more than double the day-ahead average for that hour. Day-ahead…

India’s natural gas demand has declined by 1.5 million tons so far this year as the Iran war choked LNG supplies from the Middle East, hiked spot prices, and destroyed some demand across South Asia, energy consultants Wood Mackenzie said in a report. Before the war, WoodMac’s analysts had expected LNG demand across South Asia to rise by 7% this year compared to 2025, or by 2.7 million tons. But after the war trapped most LNG supply from Qatar and the United Arab Emirates (UAE) in the Persian Gulf without any route to bypass the Strait…

India’s natural gas demand has declined by 1.5 million tons so far this year as the Iran war choked LNG supplies from the Middle East, hiked spot prices, and destroyed some demand across South Asia, energy consultants Wood Mackenzie said in a report. Before the war, WoodMac’s analysts had expected LNG demand across South Asia to rise by 7% this year compared to 2025, or by 2.7 million tons. But after the war trapped most LNG supply from Qatar and the United Arab Emirates (UAE) in the Persian Gulf without any route to bypass the Strait…

After four years of speculation, leaks, and briefings by anonymous sources, the world is finally about to hear evidence given publicly under oath in a German courtroom about how the Nord Stream gas pipelines were blown up -- in a case that could prove politically explosive. German prosecutors have identified seven Ukrainian suspects, but just one of them is in the dock in the trial beginning on October 14. He is named as Serhii K. in court documents that say he is suspected of being an accomplice to a war crime. That classification has caused outrage.…

Saudi Aramco’s newest joint venture refinery in China has received its first cargo of Arab crude as it prepares for start-up, the Saudi oil giant said in a statement to Bloomberg on Wednesday, without providing a timeline for the start of commercial operations. Saudi Arabia and its state-owned oil giant early this decade embarked on a strategy to set up joint ventures with local Chinese partners to build refineries that would process Arab crude grades, to secure deliveries in China in the long term. The Huajin Aramco Petrochemical Company…

The U.S. Consumer Price Index (CPI) report is due to be released on Wednesday, with economists predicting that key inflation metrics continued to moderate in September despite elevated oil prices, giving the Fed room to slow down on interest rate hikes. For September, economists expect headline inflation growth to clock in at 0.5% month-over-month and 3.6%- 3.7% year-over-year, up from 0.4% m-o-m and 3.4% Y/Y in August.  Meanwhile, core CPI, which excludes volatile energy and food prices, is seen climbing 0.2% in September, down from August’s…

The Middle East crisis has driven tanker rates to all-time highs and created a shortage of vessels. This oil logistics problem is now causing a ripple effect, tipping the heavy crude market in North and South America into oversupply—while Asia and Europe grapple with a shortage of heavy grades. Canada is producing over 5 million barrels of crude daily, most of it heavy crude. Some 4 million barrels daily of that goes south to U.S. refineries. Venezuelan production has also moved higher after the U.S. disposed of the country’s government…

The LNG supply out of the Middle East has not recovered in any meaningful way seven and a half months after the Iran war choked oil and gas shipments through the Strait of Hormuz. Since March, some occasional LNG cargoes have managed to squeeze through the chokepoint where a fifth of global liquefied Natural Gas supplies passed before the war. The rare shipments are not making much of a difference in the global gas market, which suddenly found itself without a fifth of daily LNG supplies and whose second-largest producer, Qatar, is now barely moving…

OPEC just put a very large number on next year’s oil market: global demand growth of 2.6 million barrels per day in 2027, after growth of just 200,000 bpd this year. That would push average world oil demand from 105.7 million bpd in 2026 to 108.3 million bpd next year. OPEC also revised its 2027 demand forecast higher this month, even as it nudged this year’s growth estimate lower. Part of that jump has little to do with people suddenly driving a lot more. OPEC expects inventory rebuilding to contribute to next year’s demand as…

OPEC just put a very large number on next year’s oil market: global demand growth of 2.6 million barrels per day in 2027, after growth of just 200,000 bpd this year. That would push average world oil demand from 105.7 million bpd in 2026 to 108.3 million bpd next year. OPEC also revised its 2027 demand forecast higher this month, even as it nudged this year’s growth estimate lower. Part of that jump has little to do with people suddenly driving a lot more. OPEC expects inventory rebuilding to contribute to next year’s demand as…

OPEC just put a very large number on next year’s oil market: global demand growth of 2.6 million barrels per day in 2027, after growth of just 200,000 bpd this year. That would push average world oil demand from 105.7 million bpd in 2026 to 108.3 million bpd next year. OPEC also revised its 2027 demand forecast higher this month, even as it nudged this year’s growth estimate lower. Part of that jump has little to do with people suddenly driving a lot more. OPEC expects inventory rebuilding to contribute to next year’s demand as…

Permian producers spent much of this year paying buyers to haul away the natural gas that comes up with their oil. Waha Hub spot prices stayed below zero for a record 90 days in a row before turning positive on June 16, Reuters reported, and the hub had averaged minus $2.19 per million British thermal units for the year up to that point. Four of the five companies below still posted record results in the second quarter. Three of the five don’t drill at all, and one of the two that do works mostly in North Dakota, far from Waha. The U.S. Energy…

A new model for nuclear fusion has potentially discovered a significantly more energy-efficient way to achieve nuclear fusion, and flipped everything we thought we knew about the fusion process. The scientists’ modelling also flips the traditional order of operations for managing and sustaining plasma in a controlled fusion experiment. Traditionally, fusion processes start by compressing plasma for higher density, and then heating it to superhot temperatures. However, new modelling from the United States Department of Energy’s Princeton…

Guyana, one of the world's newest oil exporters, is poised to surpass one million barrels per day in crude oil exports for the first time this December, marking another extraordinary milestone for the small South American country. According to Bloomberg, December's preliminary loading schedule includes 33 million barrels of crude exports, equivalent to approximately 1.06 million bpd. The first shipment of the country's new Uaru crude grade is scheduled for December 11–12, with total Uaru exports expected to reach four million barrels during…

More than a year has passed since Armenia and Azerbaijan signed the Washington agreement under the direct mediation of President Trump. Nevertheless, the TRIPP project, an approximately 40-kilometer route that would constitute the shortest segment of the Middle Corridor, has yet to be implemented, leaving the broader project incomplete. Notably, the principal obstacles to its implementation originate neither in Armenia nor Azerbaijan but are predominantly external factors that continue to impede the project’s realization. BACKGROUND: …

Argentina has moved its fight over Falklands oil from threats to the courtroom, asking an international maritime tribunal to halt development of Sea Lion, the islands’ first commercial oil project. The government filed for provisional measures with the International Tribunal for the Law of the Sea on Tuesday, seeking to stop British-authorized hydrocarbon activity in the Northern Falklands Basin. The specific project in question is Sea Lion, a 315-million-barrel development operated by Navitas Petroleum with Rockhopper Exploration. The companies…

Argentina has moved its fight over Falklands oil from threats to the courtroom, asking an international maritime tribunal to halt development of Sea Lion, the islands’ first commercial oil project. The government filed for provisional measures with the International Tribunal for the Law of the Sea on Tuesday, seeking to stop British-authorized hydrocarbon activity in the Northern Falklands Basin. The specific project in question is Sea Lion, a 315-million-barrel development operated by Navitas Petroleum with Rockhopper Exploration. The companies…

Argentina has moved its fight over Falklands oil from threats to the courtroom, asking an international maritime tribunal to halt development of Sea Lion, the islands’ first commercial oil project. The government filed for provisional measures with the International Tribunal for the Law of the Sea on Tuesday, seeking to stop British-authorized hydrocarbon activity in the Northern Falklands Basin. The specific project in question is Sea Lion, a 315-million-barrel development operated by Navitas Petroleum with Rockhopper Exploration. The companies…

Qatar’s highly sensitive geographical positioning -- between a western land border with Saudi Arabia and a northeastern maritime border with Iran -- has necessitated it treading a delicate diplomatic path between regional superpowers and their global superpower backers since it gained independence from being a British protectorate in 1971. For much of the period from the 1945 landmark relationship foundation deal between Riyadh and Washington was signed, as fully analysed in my latest book on the new global oil market order, Sunni Muslim…

Nigeria’s Dangote refinery has gone from losing money to posting a $4.73 billion profit in less than a year, just as it asks investors for $1.6 billion in what would be Africa’s largest IPO. Dangote Petroleum Refinery reported net profit of $4.73 billion for the first nine months of 2026, reversing a $117.2 million loss during the same period last year. Revenue more than doubled to $22.48 billion from $9.19 billion. EBITDA jumped to $5.52 billion from $627.6 million as the refinery processed more crude and captured higher refining margins.…