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Satellite image reveals major damage to crucial Saudi oil pipeline, potentially cutting 3.6 million barrels per day of supply
Satellite imagery confirms a key East-West oil pipeline in Saudi Arabia has been severely damaged following a strike last week, which experts tell BBC Verify could reduce global oil supplies by as muc
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Salzgitter and Zelestra sign Germany's first hybrid solar-battery PPA
German steel manufacturer Salzgitter Flachstahl and renewable energy company Zelestra have signed a long-term hybrid solar-plus-battery storage power purchase agreement (PPA) in Germany. This marks th
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Tungsten West plans to restart the Hemerdon tungsten mine in the UK in early 2027, targeting full production in Q1.
The company plans to fully resume operations at the Hemerdon tungsten mine in Devon, UK, in Q1 2027, following its closure in 2018. The mine's reserves are expected to contribute 4.1% of global tungst
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Generation Mining secures C$340m (US$245m) to fully fund Marathon copper-palladium project in Ontario
The Canadian company announced it has secured C$340m (approximately US$245m) in financing, completing the funding package for the construction of its Marathon copper-palladium project in north-western
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US Treasury Secretary Scott Bessent: We are ending the Iranian threat, not "managing" it
US Treasury Secretary Scott Bessent: We are ending the Iranian threat, not "managing" it
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US Treasury Secretary Scott Bessent: The rise in 10-year government bond yields is due to rising oil prices
US Treasury Secretary Scott Bessent: The rise in 10-year government bond yields is due to rising oil prices
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LNG Buyers Accelerate Talks to Buy More US Fuel Amid Hormuz Disruption Risk
Liquefied natural gas buyers are accelerating discussions to buy more fuel from the US as the Iran war and turmoil over the Strait of Hormuz forces them to seek alternatives to suppliers in the Middle
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Libya's National Oil Corporation (NOC) says output halted at Hamada and Al-Tahara fields due to pipeline closure.
Libya's National Oil Corporation (NOC) says output halted at Hamada and Al-Tahara fields due to pipeline closure.
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Saudi Arabia canceled some European crude oil shipments for September, coupled with production halts in Libya and maintenance in Kazakhstan, pushing Brent crude up 1.6% to $107.39 and WTI up 2.1% to $103.51.
Saudi Arabia has reportedly canceled some September crude oil shipments to European refiners due to damage to its East-West pipeline, while Libyan oilfield shutdowns and maintenance work in Kazakhstan
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U.S. gasoline prices rose 16.2 cents weekly to $4.319/gallon, with diesel surging 31.8 cents to $6.285/gallon, adding fresh pressure on consumers and inflation.
The sharp increase in U.S. fuel prices, with regular gasoline now $1.151 higher than a year ago and diesel up $2.546 year-over-year, could reinforce inflation concerns ahead of upcoming Federal Reserv
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Russia Boosts Oil Exports to Highest Since May Amid Middle East War and Saudi Strikes
Russia's crude shipments jumped the most since May, driven by soaring oil prices due to the Middle East conflict and recent strikes on Saudi infrastructure.
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Schork Group analyst Stephen Schork said Iran is pressuring Saudi Arabia's oil supply from two fronts, east and west.
Stephen Schork, principal and editor at the Schork Group, explained that Iran is tightening its control over oil flows in the Middle East. He predicted that the U.S. Strategic Petroleum Reserve (SPR)
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U.S. Strategic Petroleum Reserve hits lowest level since November 1982, holding 285.4 million barrels
According to data released by the Energy Information Administration, the reserve declined by 1.2 million barrels from the prior week and has fallen nearly 120 million barrels, or about 30%, over the p
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Australia's APA Group selects UGL for A$259M Sybella Creek solar and BESS project
The project in Mount Isa, Queensland, will include a 72MW solar farm and a 52MW/104MWh Battery Energy Storage System (BESS) facility. Site works are expected to begin in late 2026, with completion sch
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Ukrainian Attacks on Russian Refineries Impact Trump's Announced Russia-Ukraine "Energy Ceasefire" Deal
US President Donald Trump announced on Monday, September 14, ET, that Russia and Ukraine had agreed to cease mutual attacks on energy targets. However, Ukrainian President Volodymyr Zelenskyy later co
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Bloomberg Markets: California Becomes Bellwether for U.S. Fuel Demand as Prices Soar
Bloomberg Markets reports that while gasoline and diesel purchases have not yet collapsed, long-term behavioral shifts could accelerate if costs do not ease soon.
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Silver prices fell below $64 on Tuesday, now trading at $63.60 per ounce, as the market widely anticipates an interest rate hike ahead of the Federal Reserve's policy meeting.
Silver December futures opened at $63.76 per ounce on Tuesday, down 0.6% from Monday's closing price, and further declined to $63.60 during the session. The market widely expects the Federal Reserve t
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Indonesia's state-owned energy company Pertamina is considering investing in upstream oil and gas projects in Guyana and Suriname to enhance energy security.
The Indonesian government stated that this move aims to diversify Indonesia's oil and gas supply and reduce its reliance on Middle Eastern imports. Grata Endah Werdaningtyas, Director General for Amer
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Wood secures $200m contract from ExxonMobil for PNG LNG project
The five-year agreement will see Wood provide construction services, including project management, civil and structural construction, and mechanical works, for brownfield project works at several faci
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Sasol Ltd. begins selling sustainable aviation fuel for luxury Antarctic tours
Sasol Ltd. has begun selling sustainable aviation fuel to a company that organizes luxury trips to Antarctica, tapping into a new market that may help reduce its environmental footprint.
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China's top iron and steel industry body has called on domestic mills to rein in production and reduce inventories as oversupply and weak demand weigh on the market.
China's top iron and steel industry body has called on domestic mills to rein in production and reduce inventories as oversupply and weak demand weigh on the market.
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Kremlin: World energy prices will go down if sanctions are lifted
Kremlin: World energy prices will go down if sanctions are lifted
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French Evening Power Price Nears €300 as Nuclear Output Falls
French Evening Power Price Nears €300 as Nuclear Output Falls
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China and India's LNG Demand Expected to Surge When Prices Normalize, Industry Executives Say
Industry executives at the Gastech conference stated that depressed LNG demand in China and India is a result of spiking prices due to the Middle East conflict. They anticipate consumption in these ke
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US Retailers Restrict Motor Oil Supply, Prices Soar Fourfold
A U.S. retailer has begun limiting sales of automotive engine oil due to supply shortages, leading to a fourfold price increase.
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Houthis attack Saudi capital and Aramco facilities, US warns of "rapid escalation" of conflict, Saudi Arabia urgently seeks aid from multiple countries.
On September 19, Yemen's Houthi rebels launched a new round of missile and drone attacks targeting "sensitive sites" in the Saudi capital Riyadh and Saudi Aramco facilities in Yanbu. U.S. embassies in
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NVIDIA VP: AI Era Reshapes Hardware Cost Reduction Logic, Chip Evaluation Shifts to "Total Tokens Throughput Per Megawatt"
NVIDIA Vice President Ian Buck stated that in the era of AI factories, the most effective way to reduce token costs is to deliver significantly improved computing performance (10 to 30 times) with eac
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NVIDIA VP: Agentic AI to Boost Computing Power Demand 100-fold, Altering Traditional Scheduling Models
NVIDIA VP Ian Buck stated that the shift from Chat mode to Agentic AI removes the human-in-the-loop buffer, allowing hashrate to operate at seamless, high-frequency full load. In AgentX benchmarks, th
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Hong Kong to expand renminbi-denominated bond, gold and commodity markets, says Financial Secretary Paul Chan
Financial Secretary Paul Chan stated on Sunday that Hong Kong would expand its renminbi-denominated bond market and develop renminbi-denominated gold and commodity markets. This initiative aims to str
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The Strait of Hormuz cargo trade has vanished, forcing businesses to find alternative routes
The Strait of Hormuz, once a transit hub for goods ranging from helium to corn, has seen its cargo trade disappear, prompting businesses to seek alternative shipping routes.
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Global oil shipping costs have surged to historic highs, with supertankers earning over $1.2 million per day. A South Korean shipping magnate is making a massive bet, investing $7 billion, and is set to profit handsomely.
The global supertanker market is experiencing unprecedented supply-demand tightness, with soaring freight rates rendering some long-haul crude oil trades economically unviable and profoundly altering
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Venezuela and TotalEnergies Sign MOU, Paving Way for French Oil Giant's Return
Venezuela and TotalEnergies SE signed a memorandum of understanding on Saturday, setting up the French company for a return to operations in the South American country.
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JPMorgan Chase analysts warn: The biggest impact of El Niño on global agriculture is expected to materialize in Q1 2027.
Tracey Allen, JPMorgan Chase's head of agricultural commodities, stated in a research report published on September 18 that the intensifying El Niño phenomenon, coupled with global diesel and fertiliz
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U.S. retail diesel prices surged to a record high of $6.45 per gallon, as Congress considers legislation to ban exports.
Global diesel supplies remain tight due to the Russia-Ukraine conflict and the situation in the Middle East. U.S. Representative Tim Burchett introduced a bill this week to ban diesel exports, and Sen
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The Saudi-led coalition announced it intercepted a ballistic missile fired by Houthi rebels towards Riyadh, while the Houthis claimed responsibility for attacking sensitive sites in Riyadh and Aramco facilities in Yanbu.
The Saudi-led coalition announced that Iranian-backed Houthi rebels launched a ballistic missile towards the Saudi capital, Riyadh, at dawn on Saturday, but it was successfully intercepted and destroy
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US Commander Says Strait of Hormuz Oil Shipments Hit Six-Month High, Citing Effective US Navy Escorts and Mine Clearance
Oil and liquefied natural gas shipments through the Strait of Hormuz reached a six-month high in the past two weeks, a U.S. regional commander said, indicating that U.S. Navy protection and mine clear
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Russia attacked two merchant ships in the Black Sea, and Poland raised its air defense alert level.
Ukraine's Air Force stated that Russia used dozens of drones and two anti-ship missiles to attack Ukraine overnight. Russia's Ministry of Defense, meanwhile, claimed that its forces used "Geran-4 Seek
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Brent crude oil surged to $132 this week after the Saudi East-West Pipeline was attacked and shut down, forcing Saudi Arabia to rely on high-cost "relay oil transportation" via the Strait of Hormuz.
A drone launched from Iraq by Iranian-backed militants recently struck Saudi Arabia's East-West oil pipeline, forcing its shutdown, the Wall Street Journal reported. The pipeline, previously a critica
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MarketWatch Analysis: Oil Prices and Energy Stocks Would Be Hit by a Sudden End to Iran War, But Company Insiders Are Still Buying
MarketWatch analysis suggests that despite a sudden end to the Iran war potentially leading to a drop in oil prices and energy stocks, company insiders are still buying these related stocks, indicatin
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World faces supertanker shortage, threatening long-haul oil flows as costs soar
The rising cost of global oil transportation is rendering some long-distance crude trades uneconomical, potentially disrupting flows at a time when fuel markets are exceptionally tight.
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Europe's winter power market is flashing its strongest warning since the energy crisis, with German wholesale electricity prices for January soaring over 60% year-on-year.
Bloomberg Markets reports that as Europe enters winter, the electricity market is flashing its strongest warning since the energy crisis. German wholesale electricity prices for January have traded ab
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Barclays: Humanoid robot computing power demand is mainly concentrated in edge AI, with limited but significant incremental growth for data centers.
Barclays Research states that the inference stage for humanoid robots needs to be completed on edge processors within the robots themselves. Data center computing power is primarily used for simulatio
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Riyadh, Saudi Arabia, issues its first air raid alert since Houthi attacks escalated in July.
Saudi civil defense authorities issued air raid alerts in the capital Riyadh and several other regions on Friday evening and Saturday morning local time, following reports of explosions in the capital
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Houthis accuse Saudi Arabia of 26 attacks in 24 hours, EU raises alert level for Red Sea naval mission.
The conflict in Yemen continues to escalate, with Houthi rebels stating that Saudi Arabia launched 26 attacks on their controlled areas in the past 24 hours, totaling 300 over the past week. Meanwhile
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Venezuela's government is sidelining a senior American oil executive from Chevron.
The veteran oil executive, previously responsible for Chevron's strategy in Venezuela amidst years of political turmoil, is currently being sidelined by the Venezuelan government.
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Japan's Sojitz plans chip material transport hub for Tata fab in India
Japanese trading house Sojitz plans to establish a specialized logistics center in India for semiconductor materials. The hub will be located near a chip fabrication plant currently under construction
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Macron to Convene G7 Meeting to Discuss Strategic Oil Reserve Release After European Diesel Retail Prices Exceed $300
French President Emmanuel Macron stated on Friday that he would convene a G7 meeting within weeks to discuss the possibility of releasing strategic petroleum product reserves. This move signals Europe
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A surge of copper is flooding into the U.S., causing a backlog at the Port of New Orleans.
A surge of copper is flooding into the U.S., causing a backlog at the Port of New Orleans.
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