Oil prices climbed in early Asian trading on Monday, as Russia attacked a key heating plant in Kherson and Ukraine targeted a Russian oil refinery. The strikes dampened hopes of a Russia-Ukraine peace deal, even as Trump and Zelensky claimed progress on a 20-point peace plan. At the time of writing, Brent crude had risen by 0.86% to $61.16, while WTI was trading 0.81% higher at $57.20. This recent rise in oil prices comes on the back of a 2% drop on Friday, as optimism over a peace deal grew alongside oversupply fears. The Russian attack on Naftogaz's…

New Zealand’s gas market has been moving from self-sufficient to structurally tight. Domestic output has almost halved in the last 7 years, falling from an average 415 million m³/month in 2017 to 215 million m³/month in 2025, stripping out the buffer that once covered seasonal swings and dry-year hydro shortfalls. The drought-driven winters of 2024–2025 exposed a new reality: as hydro weakened, the country’s power system leaned harder on thermal generation just as gas supply was tightening, triggering sharp spikes in…

We are seeing a violent collision between two worlds: the high-speed, iterative world of artificial intelligence and the slow, grinding, capital-intensive world of nuclear physics.  Data from a survey of over 600 global investors reveals that 63% now view AI electricity demand as a "structural" shift in nuclear planning. This isn't a temporary spike or a speculative bubble. It is the physical footprint of every Large Language Model (LLM) query finally showing up on the global balance sheet. For years, the energy narrative was dominated by…

The gold price is racing from one all-time high to the next. That’s good news for friends of the precious metal and bad news for anyone still hoping for a stabilization of global debt dynamics.  Assuming the markets close out the year without major volatility, gold holders can look forward to an approximate 70 percent increase in value within a single year. This is remarkable—not least because 2024 already ended with a 26 percent gain for the otherwise conservative asset class of precious metals. That amounts to a doubling of value…

For most of the past decade, oil markets have treated decisions by OPEC as the primary signal for price direction. That hierarchy is being tested, but not overturned. What has changed is where traders look for short-term cues. Increasingly, those cues are coming from China, not because Beijing controls supply, but because its buying behavior now dominates marginal demand and near-term price discovery. As reported by Reuters, China has overtaken OPEC as the most influential force in oil price formation, driven by the scale and timing of its crude…

While Kazakhstan has big plans to develop its nuclear power capacity, the United States is helping Astana think small. The US government has agreed to help train Kazakh specialists in the operation of small modular nuclear reactors (SMRs), according to a statement issued December 22 by the US Embassy in Astana. The first phase of the cooperation deal involves the supply of an SMR simulator to Kazakhstan’s Institute of Nuclear Physics in Almaty.  At the same time, a US energy company, Sargent & Lundy, will carry out a feasibility…

As Israeli Prime Minister Benjamin Netanyahu prepares to meet US President Donald Trump in Florida on December 29, the agenda centers on Iran -- with a twist. Israel is laser-focused on Iran’s ballistic missile program, which it views as the most urgent existential threat after the US-Israeli strikes severely damaged Iran's nuclear infrastructure during a 12-day aerial campaign in June. This shift highlights a growing US-Israel divergence. Trump has repeatedly described Iran's nuclear threat as "obliterated," crediting wartime bombings of…

The prevailing structural theme right now is that national oil companies (NOCs), in some cases and across some segments, are moving faster than the majors, outspending them, beating them in locking up supply chains, and building cash cows faster for the future. You can see it directly in upstream spending trends highlighted by the IEA Oil 2025 report, and the money is shifting this way because the NOCs have political backing, lower lifting costs, and much clearer mandates than the big listed companies. Wood Mackenzie has warned that tighter capital…

Texas Governor Greg Abbott has congratulated the Texas Legislature for passing House Bill 14, saying it will help revolutionize Texas’ energy sector and cement the state’s role in leading a nuclear power renaissance in the United States.   “Texas is the energy capital of the world, and this legislation will position Texas at the forefront of America’s nuclear renaissance,” said Governor Abbott. “By creating the Texas Advanced Nuclear Energy Office and investing $350 million–the largest national commitment--we…

Texas Governor Greg Abbott has congratulated the Texas Legislature for passing House Bill 14, saying it will help revolutionize Texas’ energy sector and cement the state’s role in leading a nuclear power renaissance in the United States.   “Texas is the energy capital of the world, and this legislation will position Texas at the forefront of America’s nuclear renaissance,” said Governor Abbott. “By creating the Texas Advanced Nuclear Energy Office and investing $350 million–the largest national commitment--we…

Texas Governor Greg Abbott has congratulated the Texas Legislature for passing House Bill 14, saying it will help revolutionize Texas’ energy sector and cement the state’s role in leading a nuclear power renaissance in the United States.   “Texas is the energy capital of the world, and this legislation will position Texas at the forefront of America’s nuclear renaissance,” said Governor Abbott. “By creating the Texas Advanced Nuclear Energy Office and investing $350 million–the largest national commitment--we…

There are at least two places, San Francisco and the mid-Hudson Valley in New York, where political activists are currently advocating for a public takeover of the local investor-owned utility. Pacific Gas and Electric is owned by utility holding company PG&E Corporation and the service territory of the former Central Hudson Gas & Electric Company is owned by Fortis Inc, a Canadian holding company with varied utility interests. We have no views on the respective merits of either municipalization movement. What we find interesting is that…

The safe-haven trade in precious metals is showing little sign of cooling, with gold, silver, and platinum extending gains into Friday’s session. Gold futures climbed ~1.6% to trade above the $4,500 level, while silver jumped more than 3% amid tight physical markets and strong industrial demand. Platinum also traded near the upper end of its recent range as supply constraints continued to support prices. Precious metals are rallying due to a "perfect storm" of heightened geopolitical uncertainty, expectations of U.S. interest rate cuts, a…

Turkey anticipates major energy breakthroughs in the coming year, including the launch of the first reactor at its Akkuyu Nuclear Power Plant alongside increased domestic natural gas production and continued rapid growth in renewable sources (solar/wind), energy officials in Ankara said on Friday. These advancements are part of Turkey's broader strategy to reduce reliance on imported energy, enhance energy security, and meet growing demand through diversified, cleaner sources. The combined impact of nuclear, renewable, and domestic gas projects…

China’s solar installations jumped to a six-month high in November, with developers adding roughly 22 gigawatts of new capacity, according to data released by the National Energy Administration. That’s even after 2025 proved to be a brutal year defined less by climate ambition and more by policy whiplash, tariffs, and overcapacity. On paper, November looks like a comeback. But it’s really more of a controlled burn. Installations surged earlier this year as developers raced to beat a policy deadline, front-loading an extraordinary…

China’s solar installations jumped to a six-month high in November, with developers adding roughly 22 gigawatts of new capacity, according to data released by the National Energy Administration. That’s even after 2025 proved to be a brutal year defined less by climate ambition and more by policy whiplash, tariffs, and overcapacity. On paper, November looks like a comeback. But it’s really more of a controlled burn. Installations surged earlier this year as developers raced to beat a policy deadline, front-loading an extraordinary…

The Trump administration has ordered the U.S. military to enforce a two-month "quarantine" of Venezuelan oil, signaling an intensification of gunboat diplomacy aimed at fostering regime instability in Caracas, with potential spillover effects that could ripple across the Caribbean into Cuba. "While military options still exist, the focus is to first use economic pressure by enforcing sanctions to reach the outcome the White House is looking (for)," a U.S. official told Reuters on Wednesday afternoon, speaking on condition of anonymity. The U.S.…

The polite applause faded and NATO chief Mark Rutte arranged his papers neatly on the rostrum. It took him 62 seconds to get to the point. “The dark forces of oppression are on the march again,” he said. “We are Russia’s next target.” Rutte’s speech in Berlin on December 11 was just the latest in an unprecedented series of warnings of direct conflict with Russia made in 2025 by senior European officials and intelligence agencies. In February, Danish intelligence said “Russia sees itself in conflict with…

Russian media claimed on Friday that the Trump administration held talks with Russia over joint management of Ukraine’s Zaporizhzhia Nuclear Power Plant, including the potential to use its power for crypto mining, Russian newspaper Kommersant has revealed. The discussions, which have not been independently confirmed, were allegedly held without Ukraine’s participation, and likewise proposed resuming electricity supply to Ukraine. The Zaporizhzhia Nuclear Power Plant is currently not supplying electricity to Ukraine, with its six reactors…

China has issued the first batch of fuel export quotas for the new year, at a total of 19 million tons, Reuters reported today, citing unnamed sources. The volumes were relatively unchanged on the first fuel export quota batch for this year. The quotas include gasoline, diesel, and jet fuel. In addition to those, Beijing also issued export quotas for 8 million tons of low-sulfur bunkering fuel. The bulk of the quotas, at over 70%, are going to state-owned energy majors Sinopec and CNPC. The two together received fuel export quotas for a total of…