As tensions in the Middle East rise, traders are betting on oil at $80 US dollars.
The most West Texas Intermediate crude oil call options of $80 have been traded since January. Traders expect prices to rise further after Israeli airstrikes against Iran raised fears about a wider Middle East war. Call options…
Wall St. drops sharply as Iran strikes back at Israel's attack
Wall Street closed sharply lower Friday, after Iran fired missiles towards Israel in response intensive Israeli strikes designed to cripple Tehran's nuclear weapons-building capability. Israel's military spokesperson said that…
Baker Hughes reports that US drillers have cut oil/gas drilling rigs by 7th week, to the lowest level since 2021.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the seventh consecutive week. This is the lowest level since November 2021. The number of oil and gas drilling rigs…
Baker Hughes reports that US drillers have cut oil/gas drilling rigs by 7th week, to the lowest level since 2021.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the seventh consecutive week. This is the lowest level since November 2021. The number of oil and gas drilling rigs…
Wall St. falls after Israel's attacks on Iran reduce risk appetite
Wall Street's major indexes dropped on Friday, after Israel hit a number of nuclear facilities and rocket factories in Iran. This escalating tensions shook the oil-rich Middle East. It also undermined global investor confidence.
Commodity Report: Meeting Oil Demand a Challenge if Israel Hits Iran Oil
Oil market participants have switched to dreading a shortage in fuel from focusing on impending oversupply in just two days this week.After Israel attacked Iran and Tehran pledged to retaliate, oil prices jumped as much as 13%…
Schedule of US Energy Data for the week ending June 15,
The release of major energy data scheduled for the week ending June 15 will be affected by the Juneteenth federal holiday, which falls on Thursday June 19. The schedule below shows the weekly release of the U.S. Petroleum, Oil and Natural Gas Supply and Inventory.
Ukraine and Poland nearly double the capacity of their gas link
The Ukrainian Energy Ministry announced on Friday that the gas transmission system operators in Poland and Ukraine would double the capacity of the interconnector from 6.4 million cubic metres of gas per day to 12.4 mcm. After Russian shelling…
US EPA proposes increased biofuel blend volumes through 2027
NEW YORK - On Friday, the Trump administration proposed that oil refiners increase the amount biofuels they must mix into the nation's gasoline over the next two-years, due to a rise in biomass-based fuel mandates. Biofuels industry…
Trade Minister: Britain is ready to implement US Tariff Deal
Jonathan Reynolds, the UK's trade minister, said that the United States is ready to implement their side of the tariff agreement with Britain. He is hoping for a declaration from Donald Trump in the next few days to make the deal effective.
Egypt To Buy Up To 160 LNG Cargoes Through 2026
Egypt has reached agreements with several energy firms and trading houses to buy 150 to 160 cargoes of liquefied natural gas, as it ramps up purchases to meet power demands despite strained government finances, industry sources…
Most G7 Members Ready to Lower Russian Oil Price Cap Despite US Engagement
Most countries in the Group of Seven nations are prepared to go it alone and lower the G7 price cap on Russian oil even if U.S. President Donald Trump decides to opt out, four sources familiar with the matter said.G7 country…
Russell: China-US deal pushes rare earths to the back burner
Although the tentative agreement between the United States, and China represents a step back from the worst case scenario of a complete collapse of trade between two of the largest economies in the world, it actually creates more issues than it fixes.
Palm oil prices rise on the back of bargain-buying, Chicago soyoil
The price of palm oil in Malaysia has recovered on Thursday, after two consecutive sessions of losses. This is due to the strength in Chicago soyoil and bargain-buying. By midday, the benchmark palm oil contract on Bursa Malaysia's…
Russell: China-US deal pushes rare earths to the back burner
Although the tentative agreement between the United States, and China represents a step back from the worst case scenario of a complete collapse of trade between two of the largest economies in the world, it actually creates more issues than it fixes.
World Bank will end nuclear energy ban, but still debate upstream gas
Ajay Banaga, president of the World Bank, said that its board had agreed to lift a ban on financing nuclear energy projects for developing countries. This is part of an effort to meet the growing demand for electricity. Banga…
EIA: Developers will add 18.7 GW natural gas-fired power by 2028
The Energy Information Administration announced on Wednesday that developers plan to add 18,7 gigawatts of combined-cycle power to the U.S. grid by 2028. This follows minimal additions the year before. According to the EIA, 4.3 GW of power is currently under construction.
Shell to Add Up to 12 million Tons of LNG Capacity by 2030
Shell, the world's largest trader of liquefied natural gas, will add up to 12 million metric tons of additional capacity between now and the end of the decade from projects under construction, a top executive said on Wednesday."(There…
EU countries are considering a softening of the methane emission law for gas imports
According to a document obtained by, European Union countries could demand that Brussels simplifies the EU's law on methane emissions, which has raised concerns among companies that it may hinder imports of U.S. liquid natural gas.
Shell will add 12 million tonnes of LNG capacity to its existing LNG production by 2030
Shell, the largest trader in liquefied gas in the world, plans to add 12 million metric tonnes of capacity from now until the end of this decade, according to a senior executive on Wednesday. Shell's integrated gas president…
