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The European Union’s gas in storage levels are below 30%, benchmark gas prices are the highest in over a year, and QatarEnergy just shut down the world’s single biggest LNG production facility. The situation looks like a recipe for disaster, and the chances of a painless solution are slim. EU’s benchmark natural gas price has gained as much as 60% since the United States and Israel started bombing Iran on Saturday, and while some of these gains were erased this week, significant upside potential remains. Not only has QatarEnergy…
Argentina has become a major mining hotspot in recent years, as energy firms eye the South American country’s vast critical mineral reserves and build upon its strong mining reputation. In addition to lithium and copper, companies are showing interest in Argentina’s uranium reserves, particularly as several governments worldwide look to rapidly develop their nuclear energy capacity. However, many Argentinians are less enthusiastic about the prospect of uranium mining. Argentina’s uranium resources total roughly 10,500 tonnes…
Following the United States intervention in Venezuela on 3rd January, which brought an end to President Nicolás Maduro’s 13-year dictatorship, all eyes have been on the South American country’s oil industry. Once one of the world’s biggest oil producers, output has waned in recent years. However, with U.S. President Trump setting his sights on Venezuelan crude, many are speculating just how quickly its resources can be tapped. While the focus is on Venezuela’s potential as an oil power, others think that more immediate…
Colombia’s state-controlled oil giant Ecopetrol may increase spending and boost output if elevated oil prices persist amid the escalating Middle East conflict, the company’s chief executive said Thursday. Benchmark Brent crude has surged to its highest level in more than a year following U.S.-Israel strikes on Iran and disruptions to exports from the Persian Gulf. Brent climbed to more than $85 per barrel this week, up from roughly $70 before the conflict erupted on February 28. Ecopetrol CEO Ricardo Roa told analysts during the company’s…
In the wake of U.S. and Israeli strikes on Iranian military infrastructure, the financial press has reflexively focused on oil. Tanker traffic, Brent crude, and the risk of triple-digit prices dominate the discussion. But oil is not the only commodity posing a serious long-term risk. Another deep vulnerability runs through natural gas—and from there into nitrogen fertilizer. If commercial shipping through the Strait of Hormuz were significantly restricted, the impact would extend beyond fuel markets. It would reach directly into global food…
