Oil companies reject Trump Administration's Alaska Offshore Auction
The Trump administration sold more than 400,000 acres (406,876 hectares) of land in Alaska's Cook Inlet on Wednesday, but no oil and gas drillers showed up. They refused to make a bid.The One Big Beautiful Bill Act of U.S. president Donald Trump, which was signed into law in 2017, mandates six Alaska offshore gas and oil auctions through 2032.Trump has sought ways to increase domestic oil and gas production…
Trump meets with tech giants to discuss energy pledges ahead of midterm elections
The U.S. president?Donald Trump will meet with leaders of technology companies on Wednesday, including 'Google, Meta and OpenAI. They are expected to formalize an agreement to protect consumers from the rising costs of electricity due to the rapid growth of data centers that use a lot of energy. The White House announced that the "Ratepayer Protection Pledge" announced…
US auctions oil and gas drilling in Alaska's Cook Inlet
The Trump Administration will on Wednesday 'offer over 1 million acres (404,686 ha) of Alaska's Cook Inlet?to?oil & gas explorers. This is a key test to see if the industry wants to invest in this region. This is the first auction of six Alaskan offshore oil and natural gas auctions that will be held by?U.S. through 2032. The One Big Beautiful Bill Act was signed by President Donald Trump last year. The U.S.
Source: Russia is ready to divert oil from Middle East to India due to Middle East conflict disrupting flows.
An 'industry source' with direct knowledge said that Russia was ready to divert oil from the Middle East to India in order to counter supply disruptions. About 9.5 million barrels of Russian crude are currently on vessels near Indian waters, and could arrive within weeks. Sources declined to reveal the original destination of the non-Russian cargoes, but they said that they could be delivered to India in a matter of weeks.
Trump meets with tech giants to discuss energy pledges ahead of midterm elections
U.S. president Donald Trump will'meet with leaders of major technology companies on Wednesday, including Google, Meta and?OpenAI to formalize an agreement to protect consumers from the rising costs of electricity due to the rapid growth in energy-intensive data centres. The White House announced that the "Ratepayer Protection Pledge" announced by Trump during his…
Palm oil ends Chicago soyoil's lower track, and profit-taking
After three sessions of gains, the price of palm oil in Malaysia fell on Wednesday due to profit-taking and lower Chicago soyoil. The benchmark 'palm oil contract' for May delivery on the Bursa Malaysia Derivatives Exchange fell 8 ringgit or 0.19% to 4,178 Ringgit ($1,059.87), a metric tonne, at the close. Dalian's soyoil contract, which is the most active, gained?0.46%.
The European market is seeking clarity about Qatari LNG supplies, which has led to a reduction in prices.
The Dutch and British gas price were lower on Wednesday, after rising earlier in the week. However, they could still be volatile, as traders try to gauge how long Qatari LNG supply will remain interrupted. Data from Intercontinental Exchange (ICE), showed that the benchmark 'Dutch front month contract' at the TTF hub had fallen by 1.02 euros to?53.27 per megawatt-hour (MWh) as of 1018 GMT.
Palmetto falls after three sessions on the basis of profit-taking
Malaysian palm futures declined on Wednesday, after reaching a near four-week-high in the previous session. Profit-taking and falling edible oil prices from Dalian and Chicago weighed on the contract. After three consecutive sessions of gains, the benchmark palm oil contract for?May delivery at the Bursa Derivatives exchange lost 32 ringgit or 0.76% to 4,154 Ringgit ($1,052.18) per metric ton.
US considers oil tanker insurance to ease Middle East crude shipping, sources say
Two sources say that U.S. president Donald Trump will review on Tuesday a number of policy options to control energy prices in the face of the escalating conflict in the Middle East. One option is for the government help oil tankers obtain insurance. Since Israeli and U.S. troops began attacking Iran on the weekend, fighting has disrupted Middle East oil tanker deliveries.
Global Energy Prices Jump as Middle East Crisis Interrupts Shipping, Oil Production
Global oil and gas prices jumped on Tuesday as the U.S.-Israeli war on Iran halted energy exports from the Middle East, with Tehran attacking ships and energy facilities, closing navigation in the Gulf and forcing production stoppages from Qatar to Iraq.The benchmark Brent crude oil contract gained nearly 8% on Tuesday to above $83 per barrel, the highest since July 2024, taking gains since Friday to more than 15%.
TSX drops nearly 4% amid inflation fears fueled by Middle East conflict
Canada's main index of stocks fell on Tuesday, as the Middle East conflict entered its 4th day. This was due to sector-wide losses. As of 10:24 a.m., the S&P/TSX Composite Index was down 3.97%, at 33,173.05 point. The S&P/TSX composite index was down 3.97% at 33,173.05 points as of 10:24 a.m. ET and appeared to be on track for its biggest single-day decline since April 2025 when U.S. president Donald Trump announced reciprocal duties.
India looks for alternative energy sources amid Strait of Hormuz disruption
A government source revealed on Tuesday that India is looking for alternative sources of crude oil, liquefied petroleum and natural gas in order to be prepared if the conflict in the Middle East continues for more than 15 days. The shipping through the Strait of Hormuz, between Iran and Oman - which carries a fifth of the oil and gas consumed worldwide - has come to a halt. This is after Iranian vessels were attacked in response to U.S.
Wall Street closes with a narrowly mixed result, but trading is volatile following air strikes on Iran
U.S. stock prices ended Monday close to flat after a volatile session that saw shares fall early following the weekend's?U.S. Israeli air strikes against?Iran.?But there were bounces all day long as investors bought dips. The coordinated U.S.-Israeli strikes against Iran last weekend resulted in the death of Tehran's Supreme leader, and shocked global markets. Oil prices rose and many overseas stock indexes ended lower.
Iran threatens to attack any vessel trying to cross the Strait of Hormuz
Iranian media reported that a senior Revolutionary Guards official told them on Monday, "the Strait of Hormuz was closed" and that Iran would fire at any ships trying to pass. This is Iran's?most explicit warning since it told ships on Saturday that?it would?close the export route. The move threatens to choke off a fifth global oil flow and send crude prices sharply up. The Strait of Hormuz is closed.
Minister says Austria will deepen its cooperation with Abu Dhabi
Austrian Economy Minister Wolfgang Hattmannsdorfer announced that the country plans to expand economic cooperation with Abu Dhabi following the creation of Borouge Group International (BGI), a chemicals company. In an interview with?Hattmannsdorfer on Friday night, he said that he expects BGI, the?tie up between units of 'Abu Dhabi National Oil Company' and Austrian…
Venture Global lowers its 2026 profit forecast due to the winter storm and LNG margin squeeze
Venture Global, a U.S. LNG company, forecast its 2026 core profit to be?below Wall Street's expectations on Monday. This was due to the?impacts of Winter Storm Fern as well as margin compression during the first quarter. Last month,?reported that?exports?of liquefied gas from the U.S. dropped to 11.3 million tonnes in January from 11.5 mmt during December due to a winter freeze which closed some plants and reduced output in others.
Raychaudhuri: Indian equities are a bright spot in the market.
Indian stocks, once the darlings of global investors have been underperforming other emerging markets in the past year due to?trade tensions and falling earnings estimates, while high valuations also dulled their shine. Changing domestic and geopolitical tendencies may attract global investors again. Last year, the main problem for Indian shares was that earnings expectations declined even though valuations remained high.
Russia warns of a possible oil shortage due to the closure of Strait of Hormuz
The Russian Foreign Ministry said on Sunday that the closing of 'the Strait of Hormuz' to shipping would lead to "significant imbalances" in a global oil and gas market. Trading sources reported on Saturday that a number of tanker owners, major oil companies and trading houses had suspended crude oil, fuel, and liquefied gas shipments through the Strait of Hormuz following the U.S. and Israel's attacks against Iran.
Fugro reports year-loss due to challenges in renewables
Dutch geological data specialist Fugro reported on Friday a loss of 21 million euros ($25 million), reflecting the challenges faced by the offshore wind industry, and announced that its finance chief will step down in April. The Amsterdam-listed firm's revenue was 1.85 billion euro, which is 427 millions less than it was in 2024. Of this, 380 million euro were attributable the the slowdown on the renewables markets.
Putin condemns the killing of Iran’s Khamenei, but has offered little more than condolences.
The Russian president Vladimir Putin condemned Sunday the murder of Iranian Supreme leader Ayatollah Ali Khamenei, calling it a "cynical", but offered Moscow's ally little else in public than condolences. Khamenei's fall is the 'third Russian ally that has been toppled? in the last 15 months. This follows the fall of?Moscow backed?leaders?in Venezuela and Syria. The Kremlin is now facing a major strategic setback after Khamenei's death.