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The fuel trading market is expanding from an established group of specialized desks at oil majors, commodity trading houses, and refiners to AI-assisted trades. AI could either make the sometimes opaque fuel trading a level playing field for many new entrants or break the market by overcrowding it in some trades, as Reuters columnist Clyde Russell notes in a recent commentary. The AI boom and the race to offer and receive “actionable insights” in seconds are equally tempting for the developers of the technology, the commodity analytics…
The Trump Administration is touting the new oil order in Venezuela as a tremendous opportunity for reviving the industry in the world’s biggest crude oil resource holder. The U.S.-led restructuring of the sector kicked out Russian and Chinese companies out of previously awarded concessions, and spurred a flurry of oil deals with oil majors, the biggest oilfield service providers, and relatively unknown newcomers—all with the purpose of boosting Venezuela’s oil production and exporting a large part of it to the United States. The…
Global natural gas supply is likely to remain tighter than it should be until next summer at least, and it could cause prolonged demand destruction. Should this scenario materialize, it would deliver a severe blow to Europe, as it already struggles to cover its winter gas needs ahead of the official start of heating season—but Asia won’t be happy about it, either. The prediction comes from the International Gas Union, an industry association that covers 90% of the world’s gas producers. “The market right now is saying that…
Nigeria has ambitious energy plans for the coming decades, including expanding its oil industry and accelerating the development of its renewable energy sector. In recent years, Nigeria has begun to solidify its position as a major energy power in Africa. This led the International Energy Agency (IEA) Governing Board to decide in June to welcome Nigeria as an Association country. Nigeria joins South Africa, Kenya, and Senegal as an IEA Association country in sub-Saharan Africa. To solidify the agreement, IEA Executive Director Fatih Birol…
As the national average diesel price soared to a record $6.52 per gallon, the Trump Administration sent mixed signals this week about restricting U.S. diesel exports. The White House has denied that an export ban is in the works, even if President Donald Trump and Treasury Secretary Scott Bessent had hinted at the possibility hours earlier. Rumors and reports of a diesel ban sparked vehement opposition from the U.S. energy and manufacturing industries, while analysts say restricting exports would be a self-defeating exercise that would…
