In a “perilous position,” the Platts Dubai benchmark used to price around 18 million barrels per day, nearly a fifth of global supply, is now severely strained by the halt in exports through the Strait of Hormuz. According to Reuters, with most cargoes having been unable to move safely through the chokepoint, the system is grappling with a fundamental question of how to price oil that cannot be loaded. The situation remains largely unchanged as of today, despite Washington’s announcement that the Strait is officially open for…

In April 2026, a new 500 MW sodium-cooled reactor in Kalpakkam, India, attained criticality. The reactor maintained a nuclear chain reaction—which is a pretty big step for any new nuclear plant. There are a number of things that struck us about this news. The haters and skeptics will point out that this unit began construction in 2004 with a 2010 expected completion date. No cost escalation figures were provided by the Indian government. But the real question here is why a molten salt reactor? It’s not a new technology. President Jimmy…

Accelerated refinery closures in the past decade and increased dependence on kerosene from the Middle East have exposed Europe’s energy supply vulnerability once again. For years, European consumers have had to contend with last-minute strikes of ground personnel and cabin crew during peak summer travel. This year, strikes may be viewed as a minor nuisance compared to what’s coming within weeks—a jet fuel supply crisis that could ground flights and hike fares. The war in Iran has cut most of Europe’s imports of jet fuel,…

As technology continues to improve, many renewable energy developers are increasingly using automation to develop commercial-scale projects, such as solar and wind farms. Tech companies have made significant improvements to artificial intelligence (AI) and robotic equipment in recent years, with different types of robots now available to perform a wide variety of tasks. This is reducing the burden on humans in the development phase of new renewable energy projects, with robots now capable of conducting tasks that may be dangerous for people to…

The United Kingdom has been rapidly increasing its deployment of new renewable energy capacity in recent years, to the point that it now has some to spare during peak production hours. While the U.K. gradually increases its battery storage, the government is encouraging consumers to use more electricity during certain times of the day to help shift reliance away from fossil fuels to green alternatives. Consumers are being asked by the government to use high-consumption appliances, such as dishwashers and washing machines, as well as electric vehicle…

Europe’s supermajors are set to report a strong quarter later this month and in early May thanks to their trading divisions. While Big Oil does not report trading profits, BP, Shell, TotalEnergies, and Equinor all signaled they are making a lot of money on trade with oil and gas in what some say is the worst supply crisis in history. Shell was the first to flag “significantly higher” profits from oil and gas trading in its financial report for the first quarter of the year. The company attributed the expected windfall on the extreme…

By now, a familiar narrative has returned to Europe’s energy debate. The transition, we are told, went too far, too fast, and too blindly. Politicians chased climate headlines, imposed unrealistic targets, burdened households with costs, and pushed industry toward the exit. It is a compelling story. It is also the wrong one. Europe’s real mistake was not moving too quickly on clean energy. It was moving halfway. We invested in renewable generation, but underinvested in the grids, storage, flexibility, and electrification required to…

As governments look to diversify their energy mix by expanding renewable energy capacity, many are turning to solar and wind power. Meanwhile, hydropower is often overlooked by countries that do not have a tradition of hydropower production. With the ongoing conflict between the United States, Israel, and Iran, the price of fossil fuels is being pushed ever higher due to severe shortages of oil and gas. This is encouraging governments worldwide to assess their energy security and consider developing various energy sources to support greater diversification…

The world is ramping up its lithium production in a bid to meet the growing global demand for critical minerals, being driven by renewable energy deployment and the higher uptake of electric vehicles (EVs) and other electronics. Lithium production from mining increased from 31,500 metric tonnes in 2015 to 82,500 tonnes in 2020 and 290,000 tonnes in 2025. While China remains the world’s biggest lithium producer, as production expands, several new players are entering the market, which is helping to diversify operations. The global lithium-battery…

The Strait of Hormuz is once again at the center of escalating geopolitical tensions, with Iran moving to restrict vessel traffic amid an ongoing U.S. naval blockade. According to multiple reports, Iran has turned back at least 20 vessels attempting to transit the strait, while U.S. enforcement actions have redirected additional ships, bringing total disruptions to more than 20 tankers. Merchant vessels reportedly received direct radio warnings from Iranian naval forces declaring the waterway closed to all traffic following what Tehran described…

The Strait of Hormuz is once again at the center of escalating geopolitical tensions, with Iran moving to restrict vessel traffic amid an ongoing U.S. naval blockade. According to multiple reports, Iran has turned back at least 20 vessels attempting to transit the strait, while U.S. enforcement actions have redirected additional ships, bringing total disruptions to more than 20 tankers. Merchant vessels reportedly received direct radio warnings from Iranian naval forces declaring the waterway closed to all traffic following what Tehran described…

The Strait of Hormuz is once again at the center of escalating geopolitical tensions, with Iran moving to restrict vessel traffic amid an ongoing U.S. naval blockade. According to multiple reports, Iran has turned back at least 20 vessels attempting to transit the strait, while U.S. enforcement actions have redirected additional ships, bringing total disruptions to more than 20 tankers. Merchant vessels reportedly received direct radio warnings from Iranian naval forces declaring the waterway closed to all traffic following what Tehran described…

...and it's closed. Iran's Islamic Revolutionary Guard Corps declared Saturday that control of the strait has "returned to its previous state," walking back a brief opening announced Friday and directly contradicting a claim from President Donald Trump that the world's most critical oil chokepoint was fully open for business. Tehran's joint military command said the strait is now under "strict management and control of the armed forces" and accused the U.S. of "piracy" -- a reference to Washington's ongoing naval blockade of Iranian ports, which…

The Trump administration has grand plans for “ENSURING AMERICAN SPACE SUPERIORITY.” When NASA sent humans to the moon for the first time this century earlier this month, the organization made it clear that this is just the “opening act” for a new and revitalized era of space exploration. Under the Trump administration, NASA has enormous ambitions, going as far as to plan a permanent base on the moon, which will need never-before-seen energy innovations to maintain a secure source of power. This week, the federal government…

A massive drought has emerged across large swaths of the US agricultural belt, threatening crops and livestock and eventually affecting food prices, at a time when fertilizer and diesel costs are soaring. As of early April, 60% of the Lower 48 is in drought as the Northern Hemisphere growing season begins and farmers begin plantings, according to NOAA. The southern US is already experiencing severe, extreme, and even exceptional drought conditions, putting pressure on key crops such as sugarcane, rice, and peanuts, while fruit trees have also been…

Oil tankers are beginning to test the waters at the Strait of Hormuz. At least eight crude carriers started advancing toward the chokepoint within hours of Iran declaring the Strait open to shipping under a ceasefire framework. Five vessels that had been idling north of Dubai moved first, followed by three more positioned roughly 70 miles west, according to vessel tracking data cited by Bloomberg. It’s the first real sign of life in a corridor that has effectively been frozen since late February, when conflict in the region choked off flows…

Oil tankers are beginning to test the waters at the Strait of Hormuz. At least eight crude carriers started advancing toward the chokepoint within hours of Iran declaring the Strait open to shipping under a ceasefire framework. Five vessels that had been idling north of Dubai moved first, followed by three more positioned roughly 70 miles west, according to vessel tracking data cited by Bloomberg. It’s the first real sign of life in a corridor that has effectively been frozen since late February, when conflict in the region choked off flows…

Oil tankers are beginning to test the waters at the Strait of Hormuz. At least eight crude carriers started advancing toward the chokepoint within hours of Iran declaring the Strait open to shipping under a ceasefire framework. Five vessels that had been idling north of Dubai moved first, followed by three more positioned roughly 70 miles west, according to vessel tracking data cited by Bloomberg. It’s the first real sign of life in a corridor that has effectively been frozen since late February, when conflict in the region choked off flows…

Oil tankers are beginning to test the waters at the Strait of Hormuz. At least eight crude carriers started advancing toward the chokepoint within hours of Iran declaring the Strait open to shipping under a ceasefire framework. Five vessels that had been idling north of Dubai moved first, followed by three more positioned roughly 70 miles west, according to vessel tracking data cited by Bloomberg. It’s the first real sign of life in a corridor that has effectively been frozen since late February, when conflict in the region choked off flows…

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 543,  down 42 from this same time last year. The number of active oil rigs slipped by 1 to 410 during the latest reporting period, according to the data. This is 63 below this same time last year. The number of gas rigs fell by 2 after falling in the week prior as well. Gas rigs now sit at 125, which is 19 more than this time last year. The miscellaneous…