Light crude oil futures settled at $61.50 on Thursday, up $0.62 or 1.02% for the week so far, with one trading day remaining. The move capped a choppy week marked by cautious optimism surrounding OPEC+ supply restraint, geopolitical developments in the Middle East, and persistent oversupply concerns in the U.S. and global markets. The bullish and bearish factors largely neutralized each other, but near-term direction remains uncertain as traders weigh competing signals heading into next week. OPEC+ Maintains Cautious Output Path Despite Surplus…

Total open interest in Europe’s benchmark gas futures surged to a record high this week, exchange data compiled by Bloomberg showed on Friday, in a sign that the lull in European gas trading could be over with the colder weather.  The market has become more liquid in recent days, and Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, early this week broke out of the narrow trading range they have stayed for months. The prices jumped on Monday, as traders expect colder temperatures to raise heating demand across…

Spanish energy company Repsol announced it has achieved industrial-scale production of gasoline derived from 100% renewable sources at its complex in Tarragona, Spain, according to a company press release. The new fuel, branded Nexa 95 Gasoline of 100% renewable origin, is compatible with existing gasoline vehicles without engine modifications and reportedly reduces net carbon dioxide (CO2?) emissions by more than 70% compared to conventional gasoline. The fuel is currently available at 20 service stations in Spain, primarily in the Madrid and…

The contribution of national energy giant Petronas to Malaysia’s budget is expected to crash by 38% next year, to the lowest level since 2017, amid falling oil prices. Petronas is set to pay to Malaysia $4.7 billion (20 billion Malaysian ringgit) in 2026, down from $7.6 billion (32 billion ringgit) it is contributing this year, the Finance Ministry said in its 2026 budget on Friday.      The decline of the dividends from Petronas will be the result of expected lower Brent oil prices next year. According to Malaysia’s…

Greece aims to finalize by the end of the year an offshore oil and gas exploration contract with U.S. supermajor Chevron and its partner Helleniq Energy, Greek Energy Minister Stavros Papastavrou said on Friday. “We are working intensively with the U.S. company and Helleniq Energy to meet the timetables and conclude the contract within 2025,” Papastavrou told Greek television Action24, as carried by Reuters. Helleniq Energy has partnered with Chevron and last month submitted a bid to participate in the Greek tender for offshore exploration…

Midway through autumn 2025, Russian crude oil continues to dominate Turkey’s refinery feedstock, defying both geopolitical pressure and the Trump administration’s assertive diplomacy. September import data show Russian volumes flowing to Turkey above monthly averages at 410,000 b/d, extending a pattern that began in early summer and shows little sign of reversing. On 25 September, when US President Donald Trump met his Turkish counterpart Recep Tayyip Erdo?an at the White House for the first time in six years, the conversation predictably…

Germany could suffer economic losses of around 40 billion euros if this winter turns out colder than average, gas utility Uniper has warned in a report that said such a development could plunge Germany into a recession. Every year, as October begins and with it, quite often, heating season, Europe begins a race to fill its gas storage facilities in time to secure a comfortable level of stocks ahead of peak demand for electricity and heat. Norway stands ready to step up gas exports to the European Union, U.S. LNG producers stand ready to boost cargoes…

We are at a time when there seems to be far more conflict than in the past. At least part of the problem is that slowing growth in the world economy is making it more difficult to repay debt with interest, especially for governments. A related issue is that government promises for pensions and healthcare costs are becoming more difficult to pay. Donald Trump is trying to make numerous changes that are distasteful both to other countries and to many people living within the US. What is going wrong with the economy? In my view, major cracks are developing…

Strife-torn South American country Colombia is not only suffering from a new wave of violence but is also facing an energy crisis. Dwindling oil and natural gas production is crimping domestic energy supplies and impacting Colombia’s troubled economy. There is a grave threat of a serious natural gas shortage. A lack of exploration drilling, diminishing reserves and plummeting production are weighing on economically crucial natural gas supplies. The shortage of fossil fuel is exacerbated by rising consumption and natural gas’s increasingly…

The last few months have seen gold soar to record highs above $4,000 amid the so-called “debasement trade,” with investors flocking to the perceived safety of alternates while pulling away from major currencies. It’s a monetary regime change – if market participants are trading anything it’s getting rid of a fiat currency (“it’s the denominator, stupid”) for a store of value – and we’re seeing it in spades with Bitcoin and gold: However, quietly on the side, silver has been outperforming…

Scientists have dreamed of putting solar panels in outer space since the late 1960s, and have known that space-based solar power was technologically feasible since the 1970s. But the true race for space-based solar has only just begun, driven by the intensifying need to produce more electricity to meet rapidly growing energy demand. As more of the world becomes electrified, big data and AI become omnipresent, and decarbonization deadlines draw closer, innovative energy solutions are needed more than ever. As a result, space-based solar power is…

Washington is flexing again—this time hitting China in a fresh sanctions blitz aimed at choking off Iran’s oil cash flow and tightening the screws on Moscow’s influence in the Balkans. The U.S. Treasury on Thursday blacklisted around 100 individuals, vessels, and companies—including China’s Shandong Jincheng Petrochemical Group, a Shandong teapot refinery accused of buying millions of barrels of Iranian crude since 2023. Also sanctioned: the Rizhao Shihua Crude Oil Terminal at Lanshan Port, accused of handling Iran’s…

Washington is flexing again—this time hitting China in a fresh sanctions blitz aimed at choking off Iran’s oil cash flow and tightening the screws on Moscow’s influence in the Balkans. The U.S. Treasury on Thursday blacklisted around 100 individuals, vessels, and companies—including China’s Shandong Jincheng Petrochemical Group, a Shandong teapot refinery accused of buying millions of barrels of Iranian crude since 2023. Also sanctioned: the Rizhao Shihua Crude Oil Terminal at Lanshan Port, accused of handling Iran’s…

We are entering the final innings of the 2025 financial year, and the U.S. stock market continues to defy bearish expectations. Nearly all 11 major sectors remain in positive territory; gold is surging, the dollar is sliding, and Bitcoin has roared back, even as job losses mount and the government remains partially shut down. Much of this resilience has been fueled by the ongoing AI-driven investment boom, which continues to reshape capital flows across industries from semiconductors to energy infrastructure. Yet the Energy sector has lagged. With…

Serbia’s oil system came under immediate strain Thursday after Washington let a sanctions waiver for Naftna Industrija Srbije (NIS) lapse, exposing the Gazprom Neft-linked refiner to U.S. measures and putting crude flows via Croatia’s JANAF pipeline on a short OFAC license that runs to October 15. Reuters reported that the move followed weeks of extensions, confirming the waiver’s expiry and its immediate operational impact. NIS operates the Pan?evo refinery and supplies about 80% of Serbia’s gasoline and diesel and over…

Serbia’s oil system came under immediate strain Thursday after Washington let a sanctions waiver for Naftna Industrija Srbije (NIS) lapse, exposing the Gazprom Neft-linked refiner to U.S. measures and putting crude flows via Croatia’s JANAF pipeline on a short OFAC license that runs to October 15. Reuters reported that the move followed weeks of extensions, confirming the waiver’s expiry and its immediate operational impact. NIS operates the Pan?evo refinery and supplies about 80% of Serbia’s gasoline and diesel and over…

Serbia’s oil system came under immediate strain Thursday after Washington let a sanctions waiver for Naftna Industrija Srbije (NIS) lapse, exposing the Gazprom Neft-linked refiner to U.S. measures and putting crude flows via Croatia’s JANAF pipeline on a short OFAC license that runs to October 15. Reuters reported that the move followed weeks of extensions, confirming the waiver’s expiry and its immediate operational impact. NIS operates the Pan?evo refinery and supplies about 80% of Serbia’s gasoline and diesel and over…

A new report produced by the watchdog group Greenpeace documents how Russia’s environmental policies and practices are causing global harm.  The report, titled Fossil Fuel Empire: The Environment of Post-2022 Russia and the Kremlin’s Threat to Domestic and Global Stability and Sustainability, shows how Russia, in confronting environmental challenges over the past few decades, has gone from “active engagement in the 1990s to deliberate detachment and obstructionism in recent years.”  Negative trends in a variety…

China is expanding the list of rare earth elements under export control and is adding curbs on manufactured products that have used Chinese refining and magnet-making technology, in a move that further tightens China’s dominant control of critical materials. Holmium, erbium, thulium, europium, and ytterbium are now also part of the export control list, for which foreign entities must seek licenses from the Chinese authorities to import. China’s Commerce Ministry said on Thursday that companies connected to foreign militaries or placed…

Ukraine’s drone attacks on Russian refineries have resulted in a fuel crunch in Russia, where the shortage is estimated at up to 20% of demand, Ukrainian Volodymyr Zelenskyy said on Thursday.   “According to our data, the enemy’s gasoline shortage is up to around 20% of needs. Estimates vary from 13 to 20%, but it is confirmed that the shortage is already significant. In our view, it is about 20% today,” Zelenskyy wrote on X.  “Our weapons are delivering tangible results,” the Ukrainian president…