The national average price of gasoline in the United States has declined by 3.8 cents over the past week, now standing at $3.09 per gallon, according to GasBuddy's latest report.  Patrick De Haan, head of petroleum analysis at GasBuddy, noted, "The national average has seen a modest decline, but with oil prices rising again, we could see the trend reverse in the coming weeks." Despite the recent dip, regional variations persist. States like Mississippi and Texas report some of the lowest averages at $2.64 and $2.70 per gallon, respectively,…

Via Metal Miner The copper market outlook for the second half of 2025 has seen significant debate in recent weeks. On the supply side of the equation, new production is coming online. However, this may not happen fast enough to flood the market. According to mining.com, the ICSG projects global mined copper output will rise about 2.3% in 2025, topping 23.5 million metric tons as several major projects ramp up. Mines like Kamoa-Kakula in the DRC and Oyu Tolgoi in Mongolia are boosting output, and a wave of smaller projects from Africa to Asia are…

Canada’s Alberta province is facing one of its worst early-season wildfire crises in recent memory, with industry officials confirming on Monday that over 50% of the province’s oil production has been forced offline as flames sweep through critical infrastructure zones.  Seven key oil producers have scaled back or halted operations entirely. The fires have triggered evacuations in production hubs including Fort McMurray, echoing the catastrophic 2016 wildfires that paralyzed Canada’s energy heartland. The Alberta government…

The U.S. is off to a strong start to the driving season as the slump in oil prices in recent weeks has led to the lowest gasoline prices for Memorial Day weekend in four years.  Gasoline demand was strong over the holiday weekend, which ushers in the start of the period of peak demand in the United States and the rest of the northern hemisphere. A large part of the strong demand was due to the fact that the typical seasonal spike in the spring didn’t materialize, because oil prices – the single-biggest driver of gasoline prices—lingered…

Crude oil prices were trading up nearly 4% on Monday afternoon, with analysts attributing the spike to escalating geopolitical tensions, and the aftermath of a massive Ukrainian drone strike on four Russian military airports overnight.   Overnight, Ukrainian drone attacks targeted Russia's Kursk and Voronezh regions, igniting fires in residential buildings, causing significant disruptions to highway traffic and reportedly destroying over 40 aircraft in the process. Russian defense officials reported intercepting a total of 162 drones,…

Crude oil prices were trading up nearly 4% on Monday afternoon, with analysts attributing the spike to escalating geopolitical tensions, and the aftermath of a massive Ukrainian drone strike on four Russian military airports overnight.   Overnight, Ukrainian drone attacks targeted Russia's Kursk and Voronezh regions, igniting fires in residential buildings, causing significant disruptions to highway traffic and reportedly destroying over 40 aircraft in the process. Russian defense officials reported intercepting a total of 162 drones,…

President Trump announced Friday that steel and aluminum tariffs will double from 25% to 50%, calling the move a cornerstone of his "America First" agenda to revive U.S. manufacturing. The tariffs, set to take effect Wednesday, sparked a sharp rally in U.S. metal stocks in premarket trading as investors bet on stronger domestic production and profits. Trump visited a U.S. Steel plant near Pittsburgh at the end of last week to promote a pending partnership with Japan's Nippon Steel, describing the deal as a "planned investment" that would keep the…

Despite European politicians' efforts to reduce Russia's natural gas dominance in national markets, the reality is quite the opposite. The media often highlights the obstructive policies of Eastern European and Balkan countries like Slovakia and Hungary. However, the bigger picture reveals that Brussels and its bureaucrats face a significant challenge. According to Reuters, Gazprom’s natural gas pipeline supplies via Turkstream to Europe surged 10.3% in May 2025. This increase underscores the growing dependence on Turkstream as the sole option…

Delegations from Ukraine and Russia have begun to meet in Istanbul for a second round of direct peace talks amid low expectations of a breakthrough as air attacks by both sides continue in Europe's largest and deadliest conflict since World War II. Russian state media reported that the talks between negotiating teams began around 14:45 local time in Istanbul on June 2, a day after Ukraine wiped out dozens of long-range Russian bombers with hoards of drones launched remotely after being smuggled into Russia. Both delegations are expected to present…

During a meeting with oil and gas executives in Canada’s oil-producing province of Alberta, Canadian Prime Minister Mark Carney pledged that the federal government would work to fast-track major projects to make Canada an energy superpower. “We met with leaders in clean and conventional energy today in Calgary. We all agree: it’s time to build,” Carney posted on X after the meeting. “Canada’s new government is ready to fast-track major projects across the country that will make Canada an energy superpower,”…

During a meeting with oil and gas executives in Canada’s oil-producing province of Alberta, Canadian Prime Minister Mark Carney pledged that the federal government would work to fast-track major projects to make Canada an energy superpower. “We met with leaders in clean and conventional energy today in Calgary. We all agree: it’s time to build,” Carney posted on X after the meeting. “Canada’s new government is ready to fast-track major projects across the country that will make Canada an energy superpower,”…

During a meeting with oil and gas executives in Canada’s oil-producing province of Alberta, Canadian Prime Minister Mark Carney pledged that the federal government would work to fast-track major projects to make Canada an energy superpower. “We met with leaders in clean and conventional energy today in Calgary. We all agree: it’s time to build,” Carney posted on X after the meeting. “Canada’s new government is ready to fast-track major projects across the country that will make Canada an energy superpower,”…

Abu Dhabi’s national oil company, ADNOC, forecasts lower export volumes of its flagship Murban crude between August 2025 and May 2026, as it plans to process higher volumes of the grade domestically. ADNOC plans to export 1.705 million barrels per day (bpd) of Murban Crude in August, down by 65,000 bpd compared to the previous schedule, Reuters reports, citing an ADNOC report. The company pumping nearly all the crude in one of OPEC’s top producers, the United Arab Emirates (UAE), will also lower its Murban crude exports by between 100,000…

The Trump Administration is working to roll back the severe restrictions on oil and gas drilling in Alaska imposed by the Biden administration, Interior Secretary Doug Burgum has said. The Biden administration suspended in 2021 oil leases in the Arctic National Wildlife Refuge in Alaska, months after former President Joe Biden took over from Trump’s first term in office. Biden also finalized a strategy to help protect federal lands, which includes restricting access to drilling and mining in a large part of the National Petroleum Reserve…

The Trump Administration is working to roll back the severe restrictions on oil and gas drilling in Alaska imposed by the Biden administration, Interior Secretary Doug Burgum has said. The Biden administration suspended in 2021 oil leases in the Arctic National Wildlife Refuge in Alaska, months after former President Joe Biden took over from Trump’s first term in office. Biden also finalized a strategy to help protect federal lands, which includes restricting access to drilling and mining in a large part of the National Petroleum Reserve…

The Trump Administration is working to roll back the severe restrictions on oil and gas drilling in Alaska imposed by the Biden administration, Interior Secretary Doug Burgum has said. The Biden administration suspended in 2021 oil leases in the Arctic National Wildlife Refuge in Alaska, months after former President Joe Biden took over from Trump’s first term in office. Biden also finalized a strategy to help protect federal lands, which includes restricting access to drilling and mining in a large part of the National Petroleum Reserve…

Turkey’s state energy firm TPAO will sign a partnership deal with UK-based supermajor BP and with Azerbaijan’s state oil and gas company Socar for the development of a natural gas field in the Azeri sector of the Caspian Sea, Turkish Energy Minister Alparslan Bayraktar said on Monday. The Turkish state energy firm TPAO will sign on Tuesday an agreement with BP and Socar for the Shafag-Asiman field, the Turkish energy ministry said on Monday. BP and Socar have been partners developing the Shafag-Asiman field, where the first exploration…

Oil prices climbed on Monday morning despite expectations that OPEC+ will continue to boost production in the coming months. Morgan Stanley commodity analysts expect OPEC+ to make three new monthly boosts to its output, returning all 2.2 million bpd it agreed to remove from the market in 2022, by October. This will keep oil prices lower, the bank noted, writing that “With this latest announcement, there is little sign that the pace of quota increases is slowing down,” as quoted by Bloomberg. “Higher quota will likely create room…

A week ago, the U.S. House of Representatives passed Trump’s “Big, Beautiful Bill” designed to deploy large tax cuts, extra spending on defense and immigration enforcement by primarily leveraging deep cuts to the Inflation Reduction Act (IRA) of 2022. With the contentious bill now headed for the Senate, some energy experts are warning of dire consequences for some renewable energy industries if it becomes law. To wit, the sweeping policy bill seeks to phase out billions in tax credits for the budding green hydrogen and EV battery…

When U.S. President Donald Trump came into office in January, he promised to back greater oil and gas production, doubling down on his “drill, baby, drill” catch phrase. He rapidly introduced executive orders aimed at encouraging new oil and gas exploration across the country while reining in the renewable energy industry. However, since these early promises, Trump appears to be increasingly alienating the oil and gas industry as companies battle low oil prices, the uncertainty of a trade war, and several other challenges.  In…