China has agreed to begin the process of buying American energy products, U.S. President Donald Trump said on Thursday after meeting with Chinese President Xi Jinping in South Korea.   Hailing “a truly great meeting” with the Chinese leader, President Trump said in a Truth Social post “We agreed on many things, with others, even of high importance, being very close to resolved.” China has agreed to resume purchases of U.S. soybeans and other farm products, President Trump added.   In a sign that there…

Lukoil has agreed to sell its international business to Switzerland-based commodity trader Gunvor, the second-largest Russian oil company said on Thursday, a week after the U.S. slapped sanctions on Russia’s top oil firms, making doing business with their international subsidiaries extremely complex and nearly impossible.  Following the U.S. sanctions on Lukoil and Rosneft from last week, “as a result of Russia’s lack of serious commitment to a peace process to end the war in Ukraine,” Lukoil announced early this week…

Washington has drawn a new line in the global battle for critical minerals. The U.S. Export-Import Bank has issued a $200 million Letter of Interest to REAlloys Inc., a rare-earth company developing what could become North America’s first fully integrated mine-to-magnet supply chain. The commitment marks one of the clearest signals yet that the United States intends to rebuild the rare-earth infrastructure that China has dominated for a generation.REAlloys, now completing its merger with Blackboxstocks (NASDAQ: BLBX), plans to link every…

Asian energy importers are curbing their appetite for thermal coal as prices rebound after falling to the lowest in four years earlier in 2025. Reuters’ Clyde Russell reported today that October coal arrivals in China, India, Japan, and South Korea were all going to be lower than the September total because of the price developments. Since June, when thermal coal fell to a four-year low, prices for Australian coal have added 16% while Indonesian coal prices have inched up by 12%. The price recovery was driven by higher Chinese imports during…

US President Donald Trump and Chinese leader Xi Jinping held talks in South Korea where they discussed the war in Ukraine and agreed to walk back elements of their bruising trade war. Speaking aboard Air Force One following the October 30 sit down, Trump said that he had an "amazing meeting" with Xi and they they agreed on "many important points," including agreements on trade, tariffs, and rare-earth minerals. He told reporters that he will reduce a tariff on China over its role in the fentanyl crisis by 10 percent and that China would resume…

Exxon has canceled a public appearance by several executives scheduled for today, at which they were supposed to reaffirm the company’s commitment to the Rovuma LNG project, currently frozen, in the company of Mozambique’s president, Daniel Chapo. The $30-billion facility that will be the biggest LNG export hub in Africa once completed has yet to receive a final investment decision, mainly due to the unstable security situation in the Cabo Delgado region, where both Rovuma and TotalEnergies’ Mozambique LNG are located. Mozambique…

Exxon has canceled a public appearance by several executives scheduled for today, at which they were supposed to reaffirm the company’s commitment to the Rovuma LNG project, currently frozen, in the company of Mozambique’s president, Daniel Chapo. The $30-billion facility that will be the biggest LNG export hub in Africa once completed has yet to receive a final investment decision, mainly due to the unstable security situation in the Cabo Delgado region, where both Rovuma and TotalEnergies’ Mozambique LNG are located. Mozambique…

Trump, after the summit aboard Air Force One, claimed to have reached a one-year deal in Busan. Oil prices dipped slightly as markets reacted cautiously, awaiting more details on the deal’s enforcement. Trump said Taiwan was not discussed, but noted plans for cooperation with Xi on the Ukraine conflict. End of live blog 1m ago1:16am CST Oil Markets Unmoved Oil markets appeared largely unmoved by the news of a U.S.-China trade pact, with prices holding near session lows despite broader risk-on sentiment across equities. WTI crude hovered 0.63%…

When the official report on the Spain and Portugal blackout from April came out, it described a grid made vulnerable to excess voltage as a result of the fast growth of weather-dependent generators. But this excess voltage problem is not just reserved for the Iberian Peninsula. The whole of Europe has become vulnerable. Last year, a total of 65.5 GW of solar generation capacity was installed across the European Union. It was a record high, and the fourth record-high year of installations in a row, as reported by the EU’s solar power industry…

The Trump Administration is following through on its pledge to revive America’s nuclear energy with a strategic partnership with Westinghouse and Cameco to help build large-scale nuclear power plants in the U.S. with a total investment of at least $80 billion. In the landmark agreement, Cameco Corporation, Brookfield Asset Management, and Westinghouse Electric Company have entered into a binding term sheet with the United States Department of Commerce to establish a strategic partnership, which is expected to accelerate the global deployment…

As the AI boom sends shockwaves across energy grids around the world, global leaders are rushing to add extra power production capacity as fast as they can. The problem is, no one knows how much energy AI is going to be using a year or five years from now. In fact, we don’t even know how much it’s using right this moment. The result is a mad scramble to maintain energy security in the face of unprecedented uncertainty, with potentially disastrous results for global energy grids and climate goals.  “In the past few years,…

Trump has launched the United States’ most aggressive rare-earth and critical-minerals expansion in more than a decade, signing over $10 billion in supply-chain deals across Australia, Japan, Malaysia, and Thailand in less than a week. The flurry of agreements aims to cut China’s 90 percent grip on global refining capacity and establish a network of Indo-Pacific partners for mining, processing, and stockpiling key materials vital to defense and clean-tech industries.On Tuesday, the United States and Japan signed an agreement to secure…

Iraqis head to the polls on November 11 for parliamentary elections, however, surveys predict record-low turnout, which may complicate creation of a government. This election differs from those before: Muqtada al-Sadr has withdrawn from politics; Hadi al-Ameri’s Badr Organization is contesting the vote independently; and Hezbollah — Iran’s ally in Lebanon — is weakened. Though regional unrest persists, Iraq itself is comparatively stable. Prime Minister Mohammed Shia' al-Sudani’s tenure was quieter than his predecessors’,…

U.S. nuclear generation is projected to rise by 27% between 2035 and 2060, according to new analysis from Wood Mackenzie, as the rapid build-out of artificial-intelligence and cloud-computing infrastructure reshapes national electricity demand. The findings, cited by Reuters, suggest that a long-stagnant sector could enter a second expansion phase once legacy plants are extended and modular technologies reach commercial scale. The firm said U.S. nuclear power’s share of total electricity generation could stabilize near 20% through 2040 before…

U.S. nuclear generation is projected to rise by 27% between 2035 and 2060, according to new analysis from Wood Mackenzie, as the rapid build-out of artificial-intelligence and cloud-computing infrastructure reshapes national electricity demand. The findings, cited by Reuters, suggest that a long-stagnant sector could enter a second expansion phase once legacy plants are extended and modular technologies reach commercial scale. The firm said U.S. nuclear power’s share of total electricity generation could stabilize near 20% through 2040 before…

A government-run survey has cast doubt on Labour’s push for net zero as Brits fear that it would push up living expenses in both the short and long term. The Department of Energy Security and Net Zero’s (DESNZ) own research has suggested that the government is losing the public’s faith in its mission to cut energy bills by accelerating Britain’s energy transition away from fossil fuels.  The Whitehall-run survey found that 69 per cent of people believed net zero policies would increase their living expenses in the next…

The United States has issued a general license allowing limited operations of Rosneft’s German subsidiaries, according to a notice posted on the company’s website and confirmed by Reuters. The authorization applies to Rosneft Deutschland and RN Refining & Marketing, both under German federal trusteeship since 2022, when Berlin assumed control to maintain refinery continuity and prevent fuel shortages. The license does not lift sanctions on Rosneft. However, it allows maintenance, payments, and service activities necessary to keep…

The United States has issued a general license allowing limited operations of Rosneft’s German subsidiaries, according to a notice posted on the company’s website and confirmed by Reuters. The authorization applies to Rosneft Deutschland and RN Refining & Marketing, both under German federal trusteeship since 2022, when Berlin assumed control to maintain refinery continuity and prevent fuel shortages. The license does not lift sanctions on Rosneft. However, it allows maintenance, payments, and service activities necessary to keep…

The United States has issued a general license allowing limited operations of Rosneft’s German subsidiaries, according to a notice posted on the company’s website and confirmed by Reuters. The authorization applies to Rosneft Deutschland and RN Refining & Marketing, both under German federal trusteeship since 2022, when Berlin assumed control to maintain refinery continuity and prevent fuel shortages. The license does not lift sanctions on Rosneft. However, it allows maintenance, payments, and service activities necessary to keep…

In a landmark move that could reshape global commodity markets and impact iron ore prices, BHP Billiton has agreed to settle 30% of its iron ore spot trades with Chinese buyers in Chinese Yuan (RMB). This represents a significant departure from the longstanding U.S. dollar standard. Set to begin in Q4 2025, the shift marks a strategic pivot in Australia-China trade relations. It also signals China’s growing influence in global pricing mechanisms. China’s confrontation with BHP over iron ore prices and currency settlement is more than…