Currently unknown investors netted tens of millions of dollars in profit by placing huge trades in the oil futures markets just 15 minutes before President Donald Trump announced he was extending the deadline for strikes on Iran's energy infrastructure by five days to allow for nonexistent "negotiations" (which then turned into an additional 10 days—which meant little since U.S. and Israeli bombing simply continued). Because these investors bet on a fall in oil prices, they made money when the price of oil dropped sharply after the announcement.…

Tesla Inc. is increasingly betting its future on AI, autonomy and robotics — but it still depends on selling cars to finance that shift, and that core business is under pressure, Bloomberg reported this week.  Wall Street estimates point to roughly 372,160 vehicle deliveries last quarter. That would mark an 11% increase from a weak year-ago period, yet still place among Tesla’s softer recent results and far below its near-500,000 peak quarters. Earlier headwinds — including political backlash involving Elon Musk and Model…

The premiums for U.S. West Texas Intermediate crude have soared in the spot market to a record high of between $30 and $40 per barrel above key regional benchmarks as Asia and Europe scramble for supply amid the de facto closure of the Strait of Hormuz. WTI Midland is being offered for July delivery in north Asia at premiums of between $30 and $40 per barrel, depending on the benchmark against which they are marked, trading sources told Reuters on Monday. With most of the Middle Eastern supply still trapped at Hormuz and all Gulf producers slashing…

The key Russian oil export terminal at Novorossiysk was on fire early on Monday following an overnight drone attack, as Ukraine intensifies strikes on Russia’s oil infrastructure to reduce its export capabilities amid surging oil prices.  The attack comes as another of Russia’s ports, Ust-Luga, resumed oil loadings after multiple days of disruptions due to drone attacks in the Leningrad region. But instead of offering some respite to global oil markets, the Novorossiysk terminal was set ablaze. The area at the port of Novorossiysk,…

US President Donald Trump repeated his threat to strike Iranian infrastructure hard if Tehran does not open the Strait of Hormuz, using explosive language hours after announcing that US forces rescued the missing crew member from a downed F-15 fighter jet. "Tuesday [April 7] will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!! Open the F****** Strait, you crazy bastards, or you’ll be living in Hell - JUST WATCH!" he wrote in a post on his Truth Social platform. Trump's timeframe for his…

India’s economy will grow by lower rates over the next year than initially expected as the energy supply shock from the Middle East is hitting supply and manufacturing and raising prices for industry and consumers, analysts say. The war in the Middle East and the de facto closed Strait of Hormuz have crippled oil, LNG, and LPG supply to India, which is the world’s third largest crude oil importer and relies on the Strait of Hormuz for 90% of its imported LPG, the liquefied petroleum gas most households use for cooking. Iran has begun…

This week saw something that does not happen very often. WTI, normally trading at a discount to Brent crude, moved higher than the North Sea-focused benchmark. Traders explained it with fears of tight supply in the immediate term and some relief later this year. Some, however, doubt this relief would come soon enough to avoid something few like to talk about: demand destruction. Indonesia has started rationing fuel, capping daily fuel purchases to 50 liters per car for private consumers and sending civil servants to work from home to conserve fuel.…

Since the United States intervention in Venezuela on January 3rd, which effectively brought an end to President Nicolás Maduro’s 13-year dictatorship, the Trump administration has had a heavy hand in Venezuelan politics. The U.S. has made it clear that any new political leader, who is currently interim President Delcy Rodriguez, must cooperate with Washington. The U.S. has also staked its claim to vast quantities of Venezuelan crude. However, oil is not the only resource that the U.S. has shown an interest in, as the Trump administration…

Britain has urged some of the world’s biggest powers to adopt clean energy at a faster pace to boost energy security during a time of geopolitical turmoil. The United Kingdom’s Chancellor of the Exchequer, Rachel Reeves, appealed to world leaders to accelerate the global green transition during the G7 Foreign Ministers’ meeting, held in France from 26th to 27th March. The Group of Seven (G7) wealthy nations includes the U.S., Britain, Canada, France, Germany, Italy, and Japan, along with the European ‌Union. Reeves attended…

Five weeks into the US-Israel air campaign against Iran, the world is tallying the economic wreckage: Brent crude at $114 a barrel, the Strait of Hormuz effectively closed to commercial traffic, and the International Energy Agency calling it the largest supply disruption in the history of the global oil market. Beijing is watching all of it. And not just the energy markets. Operation Epic Fury, launched Feb. 28, has given China’s military planners an unprecedented real-time window into how the United States wages high-end warfare, according…

The growing share of electric vehicles and the expected increase in EV sales this year amid soaring gasoline prices are reducing the revenues for the U.S. Highway Trust Fund, which pays for America’s roads. Most of the revenue for the fund comes from the 18.4% per gallon federal gas tax, which hasn’t been changed since 1993.   Yet, over the past 30 years, the funding for the trust fund has been declining, due to inflation and the fact that EVs now represent 2.5% of total light-duty vehicles in operation in America, and the market…

The United States is rapidly becoming a major international battery manufacturing power, as it works to compete with other producers, such as China. The battery manufacturing industry is forecast to grow so much in the coming years that supply may soon outstrip demand. Demand for batteries in the United States has grown significantly in recent years, with demand for energy storage expected to increase by 21 percent this year. This has been driven primarily by the increase in the deployment of renewable energy capacity across the U.S., which requires…

The familiar assumption used by markets remains in place, at least according to financial analysts: what has been priced is what matters. Oil is still elevated but not yet showing a disorderly pattern. LNG is tightening but still trading within a recognizable or conventional range. Freight rates are rising, insurers are repricing risk, and policymakers continue to signal control. On the surface, all these signs are showing a stressed but functioning system. The coming weeks will reveal which systemic risks-such as chain desynchronization or supply…

England has introduced a new Land Use Framework, a 56-page report that has been under development since 2022. The aim of the researchers was to assess the effectiveness of the existing land use in England and develop a more optimal plan based on human and environmental needs, considering the future energy and water outlook and potential risks the country might face, such as increased flooding and other climate challenges. Under the new framework, roughly 7 percent of England’s land must be devoted to nature, forests, and renewable energy…

President Donald Trump told Reuters on Wednesday that he is considering withdrawing the United States from the 76-year-old alliance after European allies declined to send warships to reopen the Strait of Hormuz to global shipping. "Wouldn't you if you were me?" he asked. Earlier this week, in an interview with Britain's The Telegraph, he called NATO a "paper tiger" and said Russian President Vladimir Putin shared the assessment. The spat has a straightforward trigger. The Strait of Hormuz, the narrow chokepoint between Iran and Oman through which…

Europe is making a push for a robust homegrown offshore wind sector at the same time that the United States is gutting its own. The world's largest wind farm, currently under construction in the North Sea, made major progress on March 26 when it successfully connected its first export cable from the seabed to the coast of the United Kingdom. Meanwhile, France plans to auction off 10 offshore and floating wind projects with a combined capacity of 12 gigawatts by 2027 as part of a ‘Made in Europe’ initiative. In the UK, the connection…

President Donald Trump said Friday the United States could reopen the Strait of Hormuz and “take the oil and make a fortune,” framing control of the world’s most critical energy chokepoint as both a strategic and economic opportunity. The Strait carries roughly 20% of global oil supply. Traffic through the waterway has been severely disrupted as Iranian threats, vessel attacks, and collapsing insurance coverage have curtailed tanker movements. Tanker flows have stalled, and crude and product markets have repriced sharply higher…

President Donald Trump said Friday the United States could reopen the Strait of Hormuz and “take the oil and make a fortune,” framing control of the world’s most critical energy chokepoint as both a strategic and economic opportunity. The Strait carries roughly 20% of global oil supply. Traffic through the waterway has been severely disrupted as Iranian threats, vessel attacks, and collapsing insurance coverage have curtailed tanker movements. Tanker flows have stalled, and crude and product markets have repriced sharply higher…

In one sense it’s a baptism of fire – in another, hardly at all. Meg O’Neill’s arrival as the first female chief executive of BP comes, in a sense, at an auspicious moment.  Oil majors’ earnings are set for a significant windfall from the conflict in Iran, with those of BP and Shell forecast to see a combined £5bn this year – and that’s if the war is limited in timeframe. That cannot mask, though, the scale of the task facing O’Neill, who arrives from Australia’s Woodside Petroleum…

Cuba will release 2,010 prisoners as U.S. pressure on the island intensifies, with fuel shortages and economic strain mounting under tightened restrictions. The Cuban government described the move as a “humanitarian and sovereign gesture.” Those eligible for release include foreign nationals, young people, women, and inmates over 60. Officials said the decision follows a review of conduct, time served, and health conditions. The release comes as the U.S. escalates pressure on Havana. Since returning to office, President Donald Trump…