The market will panic when the Strait of Hormuz closes. When it reopens, policymakers will all feel relieved. At present, we are all witnessing this in real time, but reality is definitely the opposite. The latest data coming out in April 2026 should put an end to that illusion. Even after repeated announcements by Iran and the USA that Hormuz was “open,” real-time, actual maritime traffic only shows evidence of a near collapse. Markets are still struggling to get to grips with the fact that, during the opening of Hormuz, vessel traffic…

Nigeria is finally starting to fix a long-standing imbalance: a major crude exporter that couldn’t meet its own fuel demand. That shift is now materializing in hard numbers—and it is being driven entirely by the Dangote refinery, which is already running close to full capacity and shows little sign of slowing. In a market starved of refined products, this rising refining giant is quickly emerging as one of the few reliable sources in the current supply squeeze, particularly for Europe. In March, gasoline exports rose to 55,000 b/d while…

The United States’ geothermal energy sector has gradually expanded in recent years, as states look to diversify their energy mix. While several renewable energy sectors have struggled to stay afloat under the Trump administration, the government has continued to show support for geothermal energy development. Further, innovations in enhanced geothermal technologies are expected to support greater sectoral expansion in the coming years. Geothermal energy is generated by drilling into underground heat pockets in the Earth’s surface to…

As the world adds solar and wind energy capacity at an unprecedented scale, we are increasingly faced with an energy variability crisis. Solar panels only produce energy when the sun is shining, and wind turbines when the wind is blowing. Unfortunately, energy demand curves are often directly at odds with these production trends. This creates a major dilemma for the energy grid, as well as for energy markets. And market volatility, including record-breaking negative energy prices in places where renewables have been deployed at a massive scale,…

As the United States government continues to crack down on renewable energy development, several states are being forced to backtrack on their climate goals as they view them as increasingly unachievable. This marks a significant shift away from Biden-era green transition policy aims across the U.S., when several state governments were optimistic about achieving ambitious mid- and long-term climate goals. Between 2021 and 2025, the Biden administration introduced several policies aimed at spurring a nationwide green transition to achieve ambitious…

A transformation is taking place in clean energy and climate investing. The current energy crisis has shifted global energy priorities, with a newfound emphasis on energy security and resilience. As a result, flows of investing dollars are shifting away from new and innovative technologies toward tried and true energy sources and methods that fall under the purview of established and trusted entities. We are also seeing – at long last – a shift toward investing in much-needed energy infrastructure to support the world's fast-growing…

Analysts at Mercuria, the Geneva-based Swiss commodities trading firm, are sounding the alarm on the global aluminum market after severe disruptions in the Gulf region, adding to a growing list of trading desks and research teams warning of a deepening supply shock. “The scale of the supply shock we’re seeing in the aluminum market is probably the largest single supply shock a base metals market has suffered in the post-2000 era,” Mercuria commodities analyst Nick Snowdon told Reuters on the sidelines of the Financial Times Commodities…

International Energy Agency chief Fatih Birol says the Iran war has permanently changed the fossil fuel industry and will accelerate a shift toward renewables, nuclear power and electrification at the expense of oil demand. That is a bold claim in the middle of an oil crisis that has Brent trading above $105 a barrel and physical supply still constrained. Birol told The Guardian that the damage to confidence in fossil fuel security is permanent, and that countries exposed to the Strait of Hormuz disruption will rethink how much geopolitical risk…

A shock oil price spike, after U.S. airstrikes on Iran, which sees Brent trading at over $100 per barrel, is giving hope of a recovery for Colombia’s beleaguered oil patch. Hydrocarbon production in the conflict-riven country is at multi-year lows, with adverse regulatory and tax reforms impacting investment in the economically critical sector. Nonetheless, higher oil prices and the prospect of a business-friendly candidate winning the 2026 presidential election offer a glimpse of hope for Colombia’s beaten-down oil industry. February…

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 544,  down 43 from this same time last year. But the number of active oil rigs specifically slipped by 3 to 407 during the latest reporting period, according to the data. This is 68 below this same time last year. The number of gas rigs rose by 4 after falling by 2 in the week prior. Gas rigs now sit at 129, which is 22 more than this time last year.…

Italian energy major Eni reported first quarter adjusted net profit of €1.3 billion, below analyst expectations, as refining and chemicals weakness and heavy downstream maintenance weighed on results despite strong upstream production growth. Reported net income was about $1.5 billion. But the bigger headline was Eni's decision to raise its 2026 share buyback to €2.8 billion and lift cash flow from operations guidance 20% to €13.8 billion. Eni expects E&P production to increase 2-4% in the second quarter and 3-4% for the full…

Italian energy major Eni reported first quarter adjusted net profit of €1.3 billion, below analyst expectations, as refining and chemicals weakness and heavy downstream maintenance weighed on results despite strong upstream production growth. Reported net income was about $1.5 billion. But the bigger headline was Eni's decision to raise its 2026 share buyback to €2.8 billion and lift cash flow from operations guidance 20% to €13.8 billion. Eni expects E&P production to increase 2-4% in the second quarter and 3-4% for the full…

Italian energy major Eni reported first quarter adjusted net profit of €1.3 billion, below analyst expectations, as refining and chemicals weakness and heavy downstream maintenance weighed on results despite strong upstream production growth. Reported net income was about $1.5 billion. But the bigger headline was Eni's decision to raise its 2026 share buyback to €2.8 billion and lift cash flow from operations guidance 20% to €13.8 billion. Eni expects E&P production to increase 2-4% in the second quarter and 3-4% for the full…

Italian energy major Eni reported first quarter adjusted net profit of €1.3 billion, below analyst expectations, as refining and chemicals weakness and heavy downstream maintenance weighed on results despite strong upstream production growth. Reported net income was about $1.5 billion. But the bigger headline was Eni's decision to raise its 2026 share buyback to €2.8 billion and lift cash flow from operations guidance 20% to €13.8 billion. Eni expects E&P production to increase 2-4% in the second quarter and 3-4% for the full…

Less hydropower and more wind, solar, and nuclear energy are needed in Central Asia to erase an electricity deficit and enable the realization of the region’s economic growth and trade ambitions, according to a report published April 23 by the Washington, DC-based New Lines Institute for Strategy and Policy (NLI). The report, titled Powering Growth: Solving Central Asia’s Electricity Challenge and produced under NLI's Silk Seven Plus (S7+) initiative, highlights that Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan have all recently…

Canada has approved Enbridge's C$4 billion Sunrise Expansion, clearing the way for a major buildout of British Columbia gas infrastructure that will add 300 million cubic feet per day of capacity to the Westcoast pipeline system. Construction is scheduled to begin in July, with the project targeted to enter service in late 2028, Enbridge said in a Friday press release. The expansion includes about 139 kilometers of new pipeline through 11 looping segments, additional compression, and upgrades to existing facilities along the Westcoast system, which…

Oil prices are heading for a sharp weekly gain, with Brent steady at $105, but renewed hopes for U.S.-Iran diplomacy are capping further upside and keeping markets below the $110 threshold. Friday, April 24, 2026 As crude oil prices are set for a hefty $15 per barrel weekly gain, seeing ICE Brent back at $105 per barrel, oil markets are nevertheless closing the week on a hopeful note with Iran’s Foreign Minister believed to travel to Pakistan over the weekend. Even if through indirect talks, the fact that diplomacy is still an option between…

To pressure Iran into a peace deal, the United States has imposed a naval blockade on the Middle Eastern country’s ports and vessels since April 13.While it has intensified pressure on Iran’s already battered economy, the US blockade has yet to force Tehran into making concessions to end the nearly two-month-long war, experts say.Iran has refused to come to the negotiating table unless the United States lifts the blockade, which targets Tehran’s lucrative oil revenue. Washington has insisted that the blockade will only end when…

The White House extended its Jones Act waiver by 90 days, keeping foreign-flagged tankers eligible to move crude, fuels and fertilizer between U.S. ports through mid-August. The waiver was on track to expire on May 17. The waiver still covers 659 product categories, preserving access to foreign shipping at a moment when U.S. coastal transport capacity is tight and roughly 13 million barrels per day of crude and products remain disrupted globally due to the Iran war. Notably, Gulf Coast crude will now clear faster by moving more easily to East Coast…

Politics, Geopolitics & Conflict The U.S. naval blockade is clearly hurting Iran, but it has not forced Tehran to bend. Iranian oil exports have fallen sharply, vessel traffic is down, ships have been turned back or seized, and the pressure on Iran’s economy is real. But the blockade is not airtight. Shadow fleet cargoes are still getting through; oil already at sea has given Tehran breathing room. The U.S. pushed through a three-week extension of the Israel-Lebanon ceasefire after White House talks. We saw Trump shift again, talking…