Oil & Energy News

China has relied on its huge crude oil inventories since the Iran war hiked oil prices to above $100 per barrel. The world’s biggest crude importer has drawn from its 1.3-billion-barrel stash for most of the months after March as…

The European Union will shun crude oil and natural gas produced from fields in the Arctic, recommending that these “stay in the ground” under its new Arctic strategy released this week. The reiteration of the EU’s stance on…

The energy demand boom being driven by the artificial intelligence era is placing unprecedented strain on global energy infrastructure. Not only are the world’s energy production capacities – and especially clean energy…

French historian Jean-Baptiste Fressoz has offered energy-transition skeptics an appealing historical argument. In More and More and More, he argues that humanity has never really moved from one energy source to another. Wood was…

Asia will need as much as $1 trillion annually in energy investment over the next 15 years to meet rising demand and reduce its exposure to supply disruptions, according to a McKinsey report released Thursday. That amounts to $15…

Canadian oil producer Strathcona Resources wants to export up to 250,000 barrels per day of crude from British Columbia’s northern coast using rail shipments and a new marine terminal to reach Asian markets. But first, it needs…

Europe’s carbon market could soon start paying shipowners to switch fuels, but the support on offer is far from equal. In July, the European Commission proposed a revision of the European Union’s Emissions Trading System that…

Citi sees more upside risk for oil prices despite recovering Middle Eastern crude exports, a considerably less bearish assessment from the bank that predicted $60-to-$65 Brent by year-end just three months ago. Brent December…

Iran is making a push to expand connectivity with Central Asian states, with high-level Iranian officials engaging their counterparts from four of the five regional states over the past week alone. On the sidelines of the October…

The world’s biggest sovereign wealth fund, Norway’s $2.3-trillion Government Pension Fund Global, booked a loss of $30 billion for the third quarter as higher interest rates and market turbulence hit both its fixed-term and…

The United Kingdom has finally established an oil-backed investment fund, decades after neighboring Norway began transforming its North Sea petroleum revenues into one of the world's largest sovereign wealth funds. The British…

The UK’s energy market regulator, Ofgem, is looking to keep Britain’s gas import capacity from mainland European connectors to preserve flexibility to import gas in case of strong demand. Ofgem on Thursday approved Interconnector…

It was once taboo in Iran to publicly speak about developing nuclear weapons. The authorities would often point to former Supreme Leader Ayatollah Ali Khamenei's religious edict barring the development of weapons of mass…

Europe’s benchmark natural gas prices rose on Thursday to nearly 90 euros per megawatt-hour, or the equivalent of $29.50 per million British thermal units (MMBtu), as the escalation in the Middle East raised concerns about…

The U.S. refinery fleet has run at higher-than-normal rates this year, with refinery utilization averaging more than 95% of capacity between May and September, the highest for those months since 1998. Tight global product…

A lot has happened since 1 June 2022, the date when ministers first granted permission to tap the Jackdaw gas field. The Conservatives were halfway through their ill-fated final term of three. Kwasi Kwarteng was the business…

Grid, flexibility, and transmission constraints amid limited battery storage forced India to curtail as much as 118.6 gigawatts (GW) of solar and wind power capacity in September, data by India’s JMK Research & Analytics showed…

Record-high gasoline and diesel prices across Europe are accelerating a shift toward electric vehicles and hybrids while new registrations of conventional cars continue to plummet by double digits in key markets. Total car sales…

India saw its crude oil imports from the Middle East rebound in September to pre-war levels amid higher volumes exiting the Strait of Hormuz, while competition from China for Russian oil resulted in declining imports from Russia…

Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy on Thursday claimed that seven vessels, including oil tankers, were either hit by Iranian forces or struck mines in the Persian Gulf over the past day, as tensions in the…

Coal supply for power plants in India is ramping up and will soon normalize, an unnamed senior official from the energy ministry in New Delhi said, as quoted by Reuters. At the moment, coal power generators are getting 2.6…

Iranian oil in floating storage has been drained amid the U.S. Navy blockade, the Wall Street Journal has reported, citing Kpler data that suggests further tightening in global oil supply. “There’s no more oil to discharge to…

Crude oil prices extended their earlier gains today, with Brent crude keeping above $111 per barrel after the latest reports from the Middle East, featuring more Houthi attacks on Saudi targets. An order by the U.S. federal…

LME Week 2026 kicked off in London on Monday, with industry leaders focused on the macroeconomic outlook for base metals, AI and energy transition demand, as well as critical mineral supply chain resilience. This year's…

Oil supermajors have been raking it in since the war in the Middle East began. They are now set to report another robust quarter, even as some jurisdictions where they operate plan to slap windfall taxes on them. The question now…