Iraq’s crude oil exports to the United States surged past 5 million barrels in May, marking Baghdad’s highest monthly volume to U.S. refiners so far this year, according to Iraqi News. The surge reflects sustained U.S. appetite for heavier Middle Eastern grades, with Iraqi crude averaging between 160,000 and 190,000 barrels per day last month.  As OPEC+ maintains voluntary output curbs and U.S. shale growth moderates, Iraq has solidified its position among Washington’s top five crude suppliers. According to the latest monthly…

Nuclear power in the U.S. has been relatively flat for the past 25 years. It is technologically viable, environmentally friendly, yet politically unpopular and economically uncompetitive.  But there is new cause for optimism. A new federal push to modernize and expand nuclear energy is breathing fresh life into the long-dormant uranium sector. And that could have important implications for investors looking to position ahead of what might become a structural shift in American energy policy. The Nuclear Paradox Nuclear energy has long held…

With rising geopolitical tensions and soaring demand for rare earth elements, the UK must invest in midstream critical mineral processing to reduce reliance on China and secure its defence, energy, and technology sectors, says Nitesh Shah I have over 30 years’ experience across commodities, mining and advanced materials –watching as the UK and the West first externalised their critical mineral supply chains to China – and then over the past few years rush to regain control of these essential assets. China dominates between 80…

President Donald Trump said the United States is not involved in the conflict between Iran and Israel, but as the archenemies launched a fresh barrage of air strikes at each other, he admitted it's "possible" that will change. Speaking to reporters before departing for the Group of Seven (G7) summit in Canada, Trump said the US would continue to support Israel, but stopped short of detailing further actions. Earlier on June 15, in an interview with ABC News, Trump was asked whether the United States would become more engaged in the conflict that…

In a dramatic escalation with sweeping implications for the U.S. nuclear industry, President Donald Trump has removed Nuclear Regulatory Commission (NRC) Chairman Christopher Hanson, opening up a big vacancy at the top for a candidate with softer regulatory inclinations.  The NRC, which oversees the operation of America’s 94 commercial nuclear reactors and regulates new designs such as small modular reactors (SMRs), plays a pivotal role in U.S. energy security and the clean energy transition.  Trump’s move allows his administration…

Via Metal Miner The Construction MMI (Monthly Metals Index) moved sideways, dropping by 2.0% month-over-month. In early June 2025, new Trump tariffs doubled pre-existing steel and aluminum duties from 25% to 50%. As buyers scrambled, U.S. aluminum premiums immediately hit a record 60¢/lb. Meanwhile, the tariff surge is already squeezing the U.S. construction industry. Construction Input Inflation Construction material costs continue to rise alongside mounting pressures from Trump tariffs. According to the Associated Builders and Contractors,…

As the confrontation between Israel and Iran intensifies, global oil and gas markets are on high alert—but not yet in crisis mode. While crude prices have edged higher, they remain well below panic thresholds, reflecting market confidence that core supply infrastructure remains intact. OPEC+ output increases and the absence of direct strikes on Iran’s major export terminals have helped temper volatility. However, this fragile stability may not hold. Should Iran escalate with broader missile campaigns, asymmetric proxy warfare, or external…

Unsurprisingly following Israel’s largest-ever military strikes against Iran over the weekend, none of the scheduled talks for Sunday between the Islamic Republic and the U.S. over a new Joint Comprehensive Plan of Action (JCPOA, or colloquially ‘the nuclear deal’) took place. Iranian Ministry of Foreign Affairs spokesperson Esmaeil Baghaei said that: “The other side [the U.S.] acted in a way that makes dialogue meaningless [...] You cannot claim to negotiate and at the same time divide work by allowing the Zionist regime…

Oil prices dropped nearly 4% on Monday, erasing much of last week's conflict-driven gains, as traders reacted to signs of easing tensions between Israel and Iran. The reversal came sharply after a Wall Street Journal report indicated that Iran is urgently signaling its desire to halt hostilities and resume negotiations over its nuclear program. Brent crude fell approximately 3.65% to trade near $75.50 per barrel, while U.S. West Texas Intermediate (WTI) slipped about 3.71% to around $70.27 during intraday trading.  The sharp retreat comes…

Oil prices dropped nearly 4% on Monday, erasing much of last week's conflict-driven gains, as traders reacted to signs of easing tensions between Israel and Iran. The reversal came sharply after a Wall Street Journal report indicated that Iran is urgently signaling its desire to halt hostilities and resume negotiations over its nuclear program. Brent crude fell approximately 3.65% to trade near $75.50 per barrel, while U.S. West Texas Intermediate (WTI) slipped about 3.71% to around $70.27 during intraday trading.  The sharp retreat comes…

Oil prices are likely to remain capped below $80 per barrel despite the escalating Israel-Iran conflict, research firm Rystad Energy said on Monday, as Iran and Israel continue to trade strikes with the escalation now in its fourth day.   “Based on our earlier disruption simulations, we see oil prices capped below $80 per barrel,” Mukesh Sahdev, Rystad Energy’s Global Head of Commodities Markets – Oil, said in a market update, carried by Africa Oil+Gas Report.  The conflict appears likely to be contained and…

OPEC’s crude oil production rose by 180,000 barrels per day (bpd) to 27 million bpd in May, with producers part of the OPEC+ agreement raising output by much less than the 411,000 bpd headline hike planned for last month as some members compensated for past overproduction.  The five OPEC members that have pledged cuts in the OPEC+ agreement – Saudi Arabia, Iraq, UAE, Kuwait, and Algeria – and are now gradually unwinding these cuts had to raise their combined output by 310,000 bpd in May.   But OPEC’s Monthly…

Uranium enrichment is a pivotal process within the global energy landscape and holds significant geopolitical implications. It is a critical step in preparing uranium for use, whether as fuel for nuclear power plants that generate electricity or, in highly concentrated forms, for nuclear weapons. Understanding uranium enrichment is essential for anyone following developments in alternative energy production, international security, and the complex balance of global power. This comprehensive guide will explore the fundamentals of uranium enrichment,…

Managers and owners of oil tankers are wary of offering their vessels for routes around the Middle East as the intensifying conflict between Israel and Iran increases fears of disruption to oil flows.  Since Friday, when Israel launched a coordinated attack on Iranian nuclear sites, there have been few offers for producers and traders that want to book tankers to ship crude from the Gulf, anonymous shipbrokers and charterers told Bloomberg on Monday.  The start of the conflict caused freight rates to jump and vessel owners to be hesitant…

As the European Union seeks to end its dependency on Russian energy, the European Commission is set to propose this week a ban on new contracts for natural gas supply with Russia on the basis of trade law, which needs a majority vote approval instead of a unanimous EU call.  EU companies will be banned from signing new contracts for Russian gas, based on trade law, which is aimed at sidestepping vetoes from Hungary and Slovakia, the Financial Times reported on Monday, quoting a summary of the proposals it had seen.   Hungary and…

As the European Union seeks to end its dependency on Russian energy, the European Commission is set to propose this week a ban on new contracts for natural gas supply with Russia on the basis of trade law, which needs a majority vote approval instead of a unanimous EU call.  EU companies will be banned from signing new contracts for Russian gas, based on trade law, which is aimed at sidestepping vetoes from Hungary and Slovakia, the Financial Times reported on Monday, quoting a summary of the proposals it had seen.   Hungary and…

As the European Union seeks to end its dependency on Russian energy, the European Commission is set to propose this week a ban on new contracts for natural gas supply with Russia on the basis of trade law, which needs a majority vote approval instead of a unanimous EU call.  EU companies will be banned from signing new contracts for Russian gas, based on trade law, which is aimed at sidestepping vetoes from Hungary and Slovakia, the Financial Times reported on Monday, quoting a summary of the proposals it had seen.   Hungary and…

As the Israel-Iran conflict shows no signs of abating, oil supply from the Middle East could become vulnerable if the two sides decide to attack vital energy infrastructure in the region, RBC Capital Markets said, warning that energy, and oil in particular, are now “clearly in the crosshairs.” The Israeli strikes on Iranian nuclear sites and military leadership at the end of last week escalated with Iran’s response with missiles toward Israel, some of which penetrated Israel’s Iron Dome missile defense system and hit cities…

Amid heavy planned seasonal maintenance, crude oil processing at China’s refineries dipped by 1.8% in May from a year earlier, to the lowest level in nine months.  Chinese refiners processed a total of about 13.92 million barrels per day (bpd) of crude oil last month, according to data from the National Bureau of Statistics cited by Reuters. Throughput slumped to the lowest level since August last year as several major state-run and private refiners underwent scheduled maintenance ahead of the peak driving season.  The processing…

Amid heavy planned seasonal maintenance, crude oil processing at China’s refineries dipped by 1.8% in May from a year earlier, to the lowest level in nine months.  Chinese refiners processed a total of about 13.92 million barrels per day (bpd) of crude oil last month, according to data from the National Bureau of Statistics cited by Reuters. Throughput slumped to the lowest level since August last year as several major state-run and private refiners underwent scheduled maintenance ahead of the peak driving season.  The processing…