Oil prices traded flat on Thursday in Asian markets, holding on to gains from earlier in the week as traders continued to weigh intensifying geopolitical risks and new tariff deals that could reshape global crude flows. As of Thursday morning in Asia, WTI crude had dipped to $69.99 per barrel and Brent crude was trading at $73.10 per barrel. Though slightly lower on the day, both benchmarks have risen approximately 7% this week, underpinned by rising concern over supply constraints stemming from new U.S. sanctions and trade policies. This…

President Trump announced a deal that imposes a 15% tariff on imports from South Korea, a move that averts a steeper 25% levy originally threatened by Washington. The agreement, unveiled two days before the August 1 deadline for countries to strike bilateral deals, is similar to those accepted by the EU and Japan. Most significantly for energy markets, South Korea committed to purchasing $100 billion worth of U.S. liquefied natural gas and other energy exports, a move hailed by Trump as a win for American workers and energy producers. Speaking…

Crude oil futures have jumped to the highest levels in six weeks after U.S. President Donald Trump ratcheted up threats to slap Russia with extra sanctions and tariffs unless it agrees to a ceasefire with Ukraine. Brent crude for September delivery gained 1.2% to trade at $73.34/barrel in Wednesday’s morning session, while WTI crude was up 1.5% to $70.24. Trump told reporters that he would give Russia 10 more days to negotiate a truce with Ukraine, extending his earlier deadline to August 3 from July 14. Trump says he is not concerned about…

China’s undisputed leadership in electric vehicle sales and renewable energy expansion has come at a cost for numerous companies that have been running a race to the bottom in recent years. The surge in EVs and solar and wind power installations has resulted in excessive manufacturing capacity in these key clean energy industries, igniting price wars that have hurt most companies in the cleantech sector, including the biggest solar panel manufacturers.   Chinese authorities realized last year that cutthroat competition, overcapacity,…

In recent years, growing alarm has surrounded the narrative of Europe’s alleged deindustrialization. Headlines speak of factory closures, declining production in key sectors, and a continent losing its industrial edge. Germany, once the bastion of manufacturing prowess, has seen a net loss of hundreds of thousands of industrial jobs. Energy-intensive sectors such as steel, chemicals, and basic materials appear to be in retreat, squeezed by rising costs and global competition. Yet, a deeper look into the data and expert analysis reveals a…

As data centers place more and more demand on global power grids, policy and economic priorities are shifting from creating more clean energy to creating more energy, period. Projected clean energy additions are simply not enough to meet the runaway demand of the global tech sector, meaning that climate goals could be at risk.  The proliferation of artificial intelligence is causing massive increases in energy demand from data centers, and the areas that host them are struggling to keep up. A 2024 study from scientists at Cornell University…

Ecuador’s oil production has plunged to multi-year lows after heavy rains and erosion caused the shutdown of the two largest crude pipelines, potentially costing the country as much as $300 million in lost revenue. On 2 July, Ecuador’s national oil company EP Petroecuador declared force majeure on the operations of the Sistema de Oleoducto Transecuatoriano (SOTE) and the Oleoducto de Crudos Pesados (OCP) pipelines, in an effort to safeguard critical infrastructure. The SOTE pipeline was shut down the same day due to heavy rainfall,…

For decades, Colombia’s national government ignored transgressions involving the strife-torn country’s oil industry. A drill-at-all-costs mentality saw successive administrations, from the late-1980s, aggressively drive exploitation of Colombia’s hydrocarbon resources to boost the war-ravaged economy regardless of the fallout. This saw Bogota ignore a multitude of human rights abuses, severe environmental damage, and violent incidents which rocked the strife-torn nation. Even Colombia’s first leftist President Gustavo Petro,…

Traders shouldn’t bet too much on rallying oil prices despite President Trump’s shortened deadline for Russia to reach peace with Ukraine or face sanctions, Barclays says. “President Trump’s patience with Russia seems to be wearing thin, and oil markets have reacted somewhat to the prospect of a potential supply disruption,” the UK-based investment bank wrote in a note on Wednesday, as carried by Investing.com. However, the upside is likely to be limited due to several considerations, including President Trump’s…

Traders shouldn’t bet too much on rallying oil prices despite President Trump’s shortened deadline for Russia to reach peace with Ukraine or face sanctions, Barclays says. “President Trump’s patience with Russia seems to be wearing thin, and oil markets have reacted somewhat to the prospect of a potential supply disruption,” the UK-based investment bank wrote in a note on Wednesday, as carried by Investing.com. However, the upside is likely to be limited due to several considerations, including President Trump’s…

A war of words has erupted between energy providers after an Octopus Energy advert was banned for claiming that households could have a heat pump installed for as little as £500. The Advertising Standards Authority (ASA) upheld a complaint against the Greg Jackson-run energy giant, ruling that not enough customers were eligible for the £500 offer for Octopus to be able to promote the price. Under Competition and Markets Authority guidance, advertisements containing ‘from’ offers should reflect the price that “a significant…

India’s state-run refiners have requested urgent guidance from the government in New Delhi following a social media post by U.S. President Donald Trump, reported by AP News, announcing a 25% tariff on Indian exports to the United States effective August 1, and warning of an additional penalty tied to India’s continued purchases of Russian oil. The announcement has unsettled procurement teams that had previously structured Russian crude purchases through intermediaries and non-dollar payments under the assumption they would remain outside…

A Serbian military special operations brigade has completed joint training with a Chinese brigade in China despite strong objections from the European Union and the United States. The joint training ran from July 19-28 and took place in Hebei Province in northern China as Serbia, a candidate country for EU accession, tries to balance its European integration while maintaining close ties with Beijing and Moscow. "The training provided a boost to military cooperation and enhanced the interoperability of combat teams in executing missions alongside…

U.S. GDP expanded at a 3% annualized rate in the second quarter, beating most forecasts and suggesting surprising economic resilience, according to fresh data from the U.S. Department of Commerce. The news lifted oil prices modestly on Wednesday, with West Texas Intermediate (WTI) climbing 1.43% to $70.20 per barrel and Brent crude rising 1.19% to $73.37. Gasoline also rose 1.10% to $2.243, but heating oil slipped 1.51% to $2.427. Natural gas plunged over 3% to $3.03/MMBtu, driven by milder weather forecasts and softening industrial demand in key…

Brazil’s crude oil exports to the U.S. are facing an uncertain future as Washington prepares to impose sweeping 50% tariffs on Brazilian imports starting August 1—up from the current 10%. While it remains unclear whether crude oil will be included in the list, analysts and industry groups are already warning of major disruptions. The U.S. is Brazil’s third-largest oil buyer, importing around 189,000 barrels per day (bpd) in Q1 2025, or 11% of Brazil’s total oil exports, according to data from ship-tracking firm Vortexa and…

U.S. GDP expanded at a 3% annualized rate in the second quarter, beating most forecasts and suggesting surprising economic resilience, according to fresh data from the U.S. Department of Commerce. The news lifted oil prices modestly on Wednesday, with West Texas Intermediate (WTI) climbing 1.43% to $70.20 per barrel and Brent crude rising 1.19% to $73.37. Gasoline also rose 1.10% to $2.243, but heating oil slipped 1.51% to $2.427. Natural gas plunged over 3% to $3.03/MMBtu, driven by milder weather forecasts and softening industrial demand in key…

A powerful 8.8 magnitude earthquake off Russia’s Kamchatka Peninsula early Tuesday triggered tsunami alerts across the Pacific through Wednesday, leading to heightened monitoring of oil and gas infrastructure in the Russian Far East.  Russian authorities later on Wednesday lifted tsunami warnings along the Sakhalin coast, according to The Guardian, following updated seismic readings and water level normalization. While initial shoreline flooding was reported in Severo-Kurilsk and paramilitary units were deployed in readiness, there have…

A powerful 8.8 magnitude earthquake off Russia’s Kamchatka Peninsula early Tuesday triggered tsunami alerts across the Pacific through Wednesday, leading to heightened monitoring of oil and gas infrastructure in the Russian Far East.  Russian authorities later on Wednesday lifted tsunami warnings along the Sakhalin coast, according to The Guardian, following updated seismic readings and water level normalization. While initial shoreline flooding was reported in Severo-Kurilsk and paramilitary units were deployed in readiness, there have…

Via Metal Miner Recent movements in aluminum prices show the metal holding strong despite global economic shifts and region-specific challenges in extraction and refining operations. On July 25, aluminum prices on the London Metal Exchange climbed to a four-month high, ending the week at US$2,656.5 and US$2,657 per ton, an increase of $10.5 or 0.39%. According to reports, the uptick was primarily fueled by renewed optimism in Chinese demand and mounting pressure from global supply constraints. On the same day, the three-month…

Crude oil inventories in the United States increased by 7.7 million barrels during the week ending July 25, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 426.7 million barrels according to government data, which is still 6% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which suggested that crude oil inventories grew by 1.539 million barrels. Crude prices were…