Author: Tom Kool

After a month where every geopolitical bet fizzled, the oil market enters December searching for its next catalyst. 2026 Forecasts Slide to $62 as Oversupply Clouds Outlook – The oil markets are increasingly forming a consensus view on 2026 prices, wit…

OPEC and its allies agreed on Sunday to keep oil output levels unchanged through the end of 2026, reaffirming their production control framework amid mounting concerns over a looming supply glut and weakening prices. The decision came at the 40th OPEC …

Crude oil is holding gains ahead of Sunday’s OPEC+ meeting, while U.S. natural gas prices have spiked on the news of a new U.S. LNG export record. Friday, November 28, 2025 As Russia-Ukraine peace talks drag on, dampening last week’s hopes that a swift…

OPEC+ members are expected to stick with their decision to pause oil production increases when the group meets online this Sunday, signaling a cautious approach amid growing signs of oversupply and persistent weakness in prices. Delegates told reporter…

The Khor Mor gas field in Kurdistan, one of the biggest gas fields in Iraq’s semi-autonomous region, has been shut down after a rocket attack hit a storage tank and caused a fire, the joint field operator, UAE-based firm Dana Gas, said on Thursday. Dan…

The Khor Mor gas field in Kurdistan, one of the biggest gas fields in Iraq’s semi-autonomous region, has been shut down after a rocket attack hit a storage tank and caused a fire, the joint field operator, UAE-based firm Dana Gas, said on Thursday. Dan…

Oil fell 2.5% on Tuesday morning following reports that Ukraine has mostly agreed to a peace deal with the U.S. European Gas Prices Chill at Lowest Levels Since May 2024- European gas prices have fallen below the €30 per MWh threshold (the equivalent o…

News of Zelenskyy considering the peace proposal comes on the same day that new U.S. sanctions on Rosneft and Lukoil officially take effect, targeting key subsidiaries in an effort to restrict Kremlin revenue from fossil-fuel sales. November 21st, 2025…

China’s crude oil imports last month remained elevated, with purchases from some countries hitting all-time highs, according to customs data cited by Reuters. Imports from the UAE, for instance, rose from 2.05 tons a year ago to 3.82 million tons last …

Alaska’s production outlook is shifting for the first time in nearly a decade, with the U.S. Energy Information Administration (EIA) on Wednesday projecting that North Slope crude output will rise by some 13% next year as two large fields move into hig…

  Chinese and international benchmark coal prices have jumped in recent days to multi-month highs as Chinese thermal coal power generation surged in October while domestic production fell amid curbs to address excess capacity and oversupply in key indu…

Alaska’s production outlook is shifting for the first time in nearly a decade, with the U.S. Energy Information Administration (EIA) on Wednesday projecting that North Slope crude output will rise by some 13% next year as two large fields move into hig…

Angola’s Minerals and Petroleum Minister, Diamantino Azevedo, called on the mining industry regulators to accelerate the permitting phase of new projects as one of Africa’s top oil producers looks to attract investments in critical minerals mining.  Az…

The solar module manufacturing in India is nearing the point of unsustainable overcapacity, which will lead to consolidation in the Indian solar industry supply chain, analysts say.  Overcapacity and newer and better technologies will squeeze smaller f…

The oil market’s main bullish driver is the Rosneft/Lukoil sanctions, but so far they’ve only led to a buildup of Russian crude at sea. Total’s Power Move Questions Oil Majors’s Renewable Pull-Out – France’s national oil champion TotalEnergies (NYSE:TT…

The key Russian oil port of Novorossiysk on the Black Sea suspended oil exports on Friday, following a major Ukrainian attack on the port overnight. Friday, November 14, 2025The Russia-Ukraine war rages on, with Ukraine’s drone attacks temporarily halt…

Oil prices gained on Tuesday as fresh U.S. sanctions on Russian oil disrupted exports. OPEC+ Plays the Waiting Game as Stock Builds Loom Large – This winter’s LNG markets are unlikely to replicate last year’s tightness as key Asian buyers have built up…

Brent crude hovers near $65 as traders await the outcome of this week’s Trump–Xi meeting in South Korea. From Black Gold to Blue Flame – US Dealmakers Pivot to Gas – The US oil industry’s consolidation drive has run out of steam as low-60 crude prices …

Oil markets roared back to life after Trump’s sanctions on Russia’s top oil producers sent prices surging. Friday, October 24, 2025Trump’s sanctions on Russia’s top oil firms have cut short the past weeks’ downward pricing movement, with stories of rec…

We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy.Turkey and India ramp up fuel su…

A growing glut of oil and fear of a global economic slowdown have pushed U.S. crude prices to their lowest point in five years. Friday, October 17, 2025The re-imposition of US import tariffs on China and the concurrent promise of a Trump-Putin summit i…

Saudi Arabia’s domestic oil consumption for power generation is showing early signs of structural decline, signaling steady progress toward its Vision 2030 goal of eliminating oil use from its electricity mix. After decades of burning crude and fuel oi…

State-owned Chinese oil giant CNPC continues to produce and export oil from a newly expanded oilfield in Niger despite ongoing disputes with the local authorities, Reuters reported on Friday, quoting sources familiar with the situation.   CNPC set foot…

Venture Global has written to its long-term contract partners in the Plaquemines LNG plant to assure them it will not sell LNG on the spot market before honoring these contracts, the Financial Times has reported, citing fears of contract breaches. Plaq…

Oil prices extended losses on Wednesday as rising OPEC+ supply and escalating U.S.-China trade tensions deepened concerns over global demand, prompting Bank of America to warn that Brent crude could drop below $50 per barrel in the months ahead. In mid…

The prospect of a contango is casting a shadow over oil markets, with the entire 2026 WTI futures curve now trading below $60 per barrel—beneath breakeven levels for most new shale wells. TotalEnergies CEO Patrick Pouyanné and Vitol’s Russel Hardy warn…

WTI crude tumbled below the critical $60 per barrel mark for the first time since May, with front-month futures settling at $58.90 per barrel for a steep 4.24% loss on Friday, October 10. The international benchmark, Brent, followed suit, closing down …

The U.S. government is considering canceling or rescinding billions of dollars in previously awarded funding for clean-energy and carbon management projects in a continued effort to alter the trajectory of climate investment. According to a list obtain…

Bloomberg’s Javier Blas warned on Monday that the next oil glut will be harder and costlier to finance than any in recent memory, describing a “cartoonish” surplus forming as new barrels from Guyana, Brazil, the United States and the Middle East conver…

Oil prices saw a small recovery on Friday morning after a continued selloff this week. Friday, October 3, 2025An 8% weekly loss is a rare occurrence in oil markets, especially if it comes on the back of five straight daily declines. Even though Friday’…

Global LNG demand growth will be supported not only by higher power and gas consumption but also by surging demand from the shipping industry, where liquefied natural gas is poised to become key to replacing the dirtier fuel oil and other oil-based mar…

The Republic of Congo expects its Parliament to pass soon a new natural gas code that would spur foreign investments in the country on the western coast of central Africa, Minister of Hydrocarbons, Bruno Jean-Richard Itoua, said on Wednesday.   Oil pro…

Saudi state oil giant Aramco has signed a joint development agreement with U.S. conglomerate Honeywell and King Abdullah University of Science and Technology (KAUST) of Saudi Arabia to co-develop a novel direct Crude-to-Chemicals (CTC) technology.  The…

Contrary to earlier expectations, global demand for fuel oil has jumped the most since 2019 as longer routes to avoid the Houthi threat around the Red Sea and the surge in shadow fleet numbers have contributed to higher fuel oil use in the shipping ind…

OPEC+ supply hike chatter and Iraq’s Kirkuk-Ceyhan restart sparked the steepest daily oil price drop in nearly two months. China Triples ‘Indonesian’ Oil Imports as Iranian Tankers Shift Routes – China has posted a staggering increase in crude imports …

Oil saw a strong rally this week as attacks on Russian oil infrastructure and rising geopolitical risk continue to fuel the rally. 26 September, 2025Moscow’s restrictions on fuel exports, including a full export ban on gasoline and a partial one on die…

Oil loadings have resumed at Russia’s Novorossiysk hub after Ukrainian drone strikes forced a brief suspension at two of the Black Sea’s most strategic terminals, Russian TASS news agency reported on Thursday.   Operations at the Caspian Pipeline Conso…

Iraq expects crude oil exports from the semi-autonomous region of Kurdistan via pipeline to Turkey to resume this week, Iraqi Foreign Minister Fuad Hussein has told Bloomberg in an interview.  Oil exports from Kurdistan have been halted for two and a h…

Eni has completed the sale of 30% in the giant operational Baleine oil and gas project offshore Cote d’Ivoire to the world’s biggest independent oil trader, Vitol, the Italian energy major said on Thursday.  The Baleine project is Cote d’Ivoire’s main …

Petrobras moved a step closer to obtaining a license to drill in an environmentally sensitive offshore region in the Amazon basin after the Brazilian environmental agency approved test assessments made by Brazil’s state oil and gas giant in the area.  …

Woodside Energy has partnered with Japanese firms Japan Suiso Energy, Ltd, and The Kansai Electric Power Co., Inc. (KEPCO) to develop a liquid hydrogen supply chain between Australia and Japan, the Australian oil and gas major said on Thursday. Under a…

New Zealand has reopened for oil and gas exploration, ready to receive applications for exploration projects after a seven-year pause, following the lifting of a ban on such activity installed by the previous government. The country’s government will a…

Oil prices rallied on Tuesday morning as Russia’s supply disruption concerns and the delays in restarting exports from Iraqi Kurdistan kept the markets tight. Russia Floods Market with Crude as Refining Saps- Russia’s seaborne crude exports have risen …

Thermal coal imports into Asia reversed a nine-month losing streak last month, rising to the highest in almost a year, Reuters’ Gavin Maguire reported, noting the rise could extend over the coming winter months. Citing data from commodity analytics pro…

China has received a sixth LNG cargo from Russia’s heavily sanctioned Arctic export project in a sign that the Chinese-Russian trade from Arctic LNG 2 has been flourishing in recent weeks despite U.S. and European sanctions on the project.   The Arctic…

Russia’s oil producers may have to reduce output as intensified Ukrainian drone attacks have damaged critical export and port infrastructure. Beijing Tightens the Tap on Oil Products with Third 2025 Export Quota – Keeping the markets on their toes for …

The European Commission will address critical grid bottlenecks in European electricity infrastructure in a bid to avoid spiking power and energy costs, European Commission President Ursula?von der Leyen said on Tuesday.  “Let us be clear – our energy p…

The discount of Iranian crude selling in China has jumped to more than $6 per barrel compared to Brent, as stocks at the key import hubs of the independent refiners have reached record highs, trade sources told Reuters on Tuesday.   The discount for Ir…

The EU will delay the formal proposal of its 19th package of sanctions against Russia as it seeks to coordinate more closely the actions with planned G7 measures, an EU diplomat told Bloomberg on Tuesday.  The EU was initially expected to formally prop…

Oil prices jumped as Washington is now pushing for secondary sanctions on India and China. 12th September, 2025The Russia-Ukraine war is back on the agenda as ICE Brent futures jumped up to $67 per barrel after Ukrainian drones attacked Russia’s Primor…

Reports of a surprise Israeli strike on Hamas targets in Qatar jolted markets, lifting Brent briefly above $67/bbl as traders priced in a higher Middle East risk premium and potential supply-security disruptions. Gas Markets Brace For Generational Supp…

Saudi Arabia is pushing OPEC+ to fast-track the group’s next oil production increase, moving up a supply hike originally scheduled for late 2026. OPEC+ has injected a lot of downside pricing risk into the oil markets this week, fuelling speculation tha…

Oil prices fell on Friday due to expectations of lower demand in the U.S. Friday, August 29, 2025 Oil prices are headed towards a second straight weekly gain of 1%, with ICE Brent hovering slightly above $68 per barrel, as hopes for a negotiated settle…

In this week’s newsletter, we will take a quick look at some of the critical figures and data in the energy markets this week.  We will then look at some of the key market movers early this week before providing you with the latest analysis of the top …

In a notably quiet week, holiday-thinned liquidity kept ICE Brent range-bound at $65.80–$67.90/bbl despite a steep U.S. stock selloff. August 22nd, 2025 In one of the least eventful trading weeks of 2025, ICE Brent has been trading within a narrow band…

The Trump-Putin and subsequent Trump-Zelenskiy meetings provided ample talking points for the markets at large; however, the lack of sanctioning threats has been mostly a bearish factor for crude prices. The price drops of late have been relatively tin…

Oil markets have seen thin liquidity and rangebound prices this week, with ICE Brent hovering near $66 a barrel as traders focus almost entirely on the upcoming Trump–Putin meeting in Alaska. Friday, August 15, 2025Thin trading liquidity, rangebound pr…

Brent crude rose 1.63% to $66.70 and WTI gained 1.74% to $63.74 on Thursday, as of 11:50 a.m. ET, with traders positioning ahead of a closely watched meeting between U.S. President Donald Trump and Russian President Vladimir Putin in Alaska. The talks,…

The upcoming Trump-Putin meeting is sparking speculation over a potential deal that could ease sanctions and reshape oil markets. Ending a Four-Year Oil Bull Run, Hedge Funds Are Now Betting on Renewables – Hedge funds are increasingly giving up on oil…

The anticipated Trump-Putin meeting has become the dominant storyline in commodity markets this week, as traders and analysts weigh the chances of a sweeping geopolitical deal. August 8, 2025The Trump-Putin meeting has become the main commodity market …

Oil prices dropped to their lowest in a week on Monday as markets digested OPEC+’s decision to implement another significant output increase in September. US Oil Majors Reign Supreme as Competitors All Lose Market Edge – US oil majors ExxonMobil and Ch…

A poor U.S. jobs report led to a broader sell-off on Friday, with leading stock indices falling from record highs.Friday, August 1st, 2025 Buoyed by Trump’s Russia threats and news of Indian state refiners curbing purchases of Russian crude, crude oil …

A poor U.S. jobs report led to a broader sell-off on Friday, with leading stock indices falling from record highs.Friday, August 1st, 2025 Buoyed by Trump’s Russia threats and news of Indian state refiners curbing purchases of Russian crude, crude oil …

Donald Trump rattled markets again by threatening secondary sanctions on Russian energy buyers and setting a tighter ceasefire deadline for Moscow, driving Brent crude above $70 as traders also eyed progress on US-China trade talks. Trump’s $750 Billio…

Oil traded slightly lower on Friday as traders weighed trade talk optimism and the potential of more oil supply from Venezuela.Friday, July 25th, 2025 ICE Brent futures remained rangebound as market participants weighed the impact of Venezuela’s potent…

U.S. crude oil inventories fell by 3.169 million barrels in the week ending July 18, the Energy Information Administration (EIA) reported on Wednesday, broadly confirming the earlier API estimate but with a steeper decline. Analysts had expected a more…

Brent crude remains stuck below $70 per barrel as top EU officials doubt the probability of a trade deal being concluded. Diesel’s Bullish Run Continues as Gasoline Summer Boom Totters – Proving most of industry watchers wrong, diesel continues to stre…

Chinese exporters of some rare earths have rerouted their flows to skirt a ban on selling these commodities to the U.S., and now they enter the country from Thailand and Mexico, Reuters has reported, citing customs and shipping records. According to th…

The bad news for China’s refiners doesn’t seem to end—faced with weaker road transportation fuel demand, plants have churned more jet fuel to meet growing aviation demand. But the pivot to jet fuel has created an oversupply that the rising aviation fue…

Following the collapse of geopolitical risk premium in oil prices, oil is back to trading on supply, demand, and OPEC+ expectations. The Israel-Iran ceasefire and the lack of subsequent retaliatory attacks has drained oil markets of the elevated geopol…

Centrica, the owner of British Gas, is prepared to take a 15% stake in the UK’s Sizewell C nuclear power plant project, the final investment decision on which is expected shortly, the Financial Times reported on Friday, quoting sources with knowledge o…

Crude oil deliveries to the strategic petroleum reserve will be delayed by seven months due to maintenance, the Department of Energy has said. The previous administration had scheduled the addition of 15.8 million barrels into the SPR in the first five…

Spot rates for very large crude carriers (VLCCs) sailing from the Persian Gulf to Asia have fallen sharply in recent days, as military tensions near the Strait of Hormuz subside and shipping flows resume a more stable pattern. Charterers that had pause…

Oil prices continue to plunge on Monday afternoon following US President Donald Trump’s announcement of a tentative ceasefire between Israel and Iran, significantly reducing geopolitical risk premiums. West Texas Intermediate (WTI) crude for August del…

Brent crude could rise all the way to $100 and more, peaking at $110 per barrel in case Iran closes the Strait of Hormuz, Goldman Sachs said in a new note. The investment bank said this price could materialize if oil flows via the vital chokepoint were…

Eni has signed a deal to sell 20% in its low-carbon energy business Plenitude to Ares Management Corporation in a deal valuing the unit at an enterprise value of $13.8 billion (12 billion euros). Under the agreement, global alternative investment manag…

Oil rallied almost 3% on Tuesday morning as tensions in the Middle East continue to escalate. Will Israel Strike Iran’s Upstream Infrastructure?- As the Israel-Iran war shows no signs of abating, market participants are speculating whether Israel could…

Brent crude futures opened more than 4% higher on Sunday evening, trading above $77 per barrel, as tensions between Iran and Israel erupted into open military conflict targeting critical energy infrastructure. The spike follows an 8% jump on Friday, ma…

TotalEnergies plans to spend about 30% of its capital expenditure (capex) on boosting its integrated power business, Patrick Pouyanne, the chief executive of the French supermajor, said at an energy conference on Monday.  The company looks to increase …

Brent crude surged more than 8% on Friday, peaking at a 13% intraday gain, after Iran launched a wave of missile strikes on Israel in retaliation for the Israeli Air Force’s targeted assault on Iranian nuclear and military infrastructure. The sudden es…

UK-based oil and gas producer Energean plc has suspended production from its offshore platform in Israel following the escalation of tensions in the Middle East. Energean on Friday confirmed it received notice from the Ministry of Energy and Infrastruc…

This year’s milder winter, weak industrial demand, and higher gas pipeline imports are set to result in the first decline in China’s LNG imports since 2022, according to estimates by research firms compiled by Reuters. Last year, China imported a total…

ICE Brent is poised to close the week above $66 as trade optimism lifts sentiment, while stubborn geopolitical tensions and shifting wildfire risks keep supply concerns alive. June 6th, 2025 ICE Brent futures are set to close this week above $66 per ba…

In today’s high-stakes energy landscape, pipelines are more than conduits—they are critical geopolitical tripwires. These steel lifelines carry the hydrocarbons that power global economies, and many run through the most politically volatile regions on …

BP’s refinery in Rotterdam had both its crude units offline on Tuesday morning, Reuters reports, citing energy consultancy Wood Mackenzie. A crude unit with a capacity of 200,000 barrels per day (bpd) went offline early on Tuesday. This follows the shu…

A turbulent week for global energy markets saw oil prices slide amid OPEC+ uncertainty and escalating U.S.-China tensions. The double whammy of OPEC+’s unpredictability and Donald Trump’s heated rhetoric over China ‘totally violating its agreement’ wit…

Oil prices climbed on optimism over eased U.S.-China trade tensions, with ICE Brent nearing $65 per barrel by week’s end as fears of punishing tariffs faded. Donald Trump’s comments on a potential Iran nuclear deal have been the defining bearish moment…

What was marketed as a fragile return to order in Libya has, once again, been exposed as a mirage. On May 12, Tripoli plunged into chaos following the reported killing of Abdul Ghani al-Kikli (aka “Gheniwa”), the commander who runs the powerful SSA (St…

U.S. LNG exporter Venture Global more than doubled its first-quarter revenue from a year earlier as its Plaquemines and Calcasieu Pass plants have launched operations and exports in recent months.  Venture Global reported on Tuesday revenues of $2.894 …

Supply chain constraints and higher cost have forced energy companies to withdraw eight projects to build gas-fired power plants in Texas under a $5-billion state loan program, the Financial Times reported on Tuesday.  The Public Utility Commission of …

Brazil’s state oil firm Petrobras will pay $2.1 billion in dividends for the first quarter after posting a jump in net income due to one-off items.  Petrobras reported a net income of $6.2 billion (35.2 billion Brazilian reals) for the first quarter, u…

Crude oil markets took a fresh hit this weekend after OPEC+ stunned traders by announcing a larger-than-expected output increase for June. In a virtual meeting on Saturday, key producers led by Saudi Arabia and Russia agreed to raise collective output …

Saudi Arabia has raised the price of its flagship crude grade loading for Asia in June, just as the Saudi-led OPEC+ group decided to continue easing the production cuts by adding a larger-than-expected volume to the market next month. In a sign that th…

Crude oil futures tumbled over the past week, falling more than 6% as concerns over weakening global demand and a resurgent supply outlook weighed on sentiment.  Friday, May 02, 2025 China, preparing for a week-long lull in trading activity, has nevert…

Oil prices slipped on Friday, heading for a weekly loss of more than 2%, weighed down by oversupply concerns and ongoing uncertainty surrounding U.S.-China tariff negotiations. The oil markets have seemingly tired of trying to anticipate the next move …

The Czech Republic has ended its 60-year-long dependence on Russian oil supply after capacity upgrades on a pipeline from the west. For the first time ever, the Czech Republic is now independent from Russian oil pipeline deliveries via the Druzhba pipe…

Valero Energy plans to idle, restructure, or cease refining operations at its Benicia Refinery in California by the end of April 2026, as one of the biggest U.S. refiners continues to evaluate strategic alternatives for its operations in California. In…

Most Asian countries are racing to pledge increased imports of U.S. energy to avoid the high tariffs slapped on them in early April. Delegations from many Asian countries are heading to Washington D.C. these days to discuss the U.S. tariffs, now suspen…

The Department of the Interior has ordered the suspension of construction works at the Empire Wind offshore project in New York, saying the project may have been approved by the previous administration without an appropriate environmental assessment. T…