Trump Says He Wants to "Take the Oil" in Iran

President Donald Trump has suggested the United States may try to take over Iran’s oil the way it did with Venezuela’s, per a Financial Times interview. “To be honest with you, my favourite thing is to take the oil in Iran, but some stupid people back in the US say: ‘Why are you doing that?’ But the

Oil Set to Book Record Monthly Gain on Iran Crisis

Oil prices are about to log their biggest monthly rise on record following Houthi attacks on Israel and President Trump’s statement that he wants to take Iran’s oil. The international benchmark was set for a 59% increase since the start of March, Reuters said. At the time of writing, Brent crude was

Oil Climbs on Fears of Multi-Front Supply Shock

Oil prices had another volatile start to the week before breaking out due to a combination of military escalation and diplomatic breakdown. At the time of writing, after climbing to $116 and then flash crashing to $114, Brent Crude was trading at $116.69, up 3.66%. Meanwhile, West Texas Intermediate

Africa Could Emerge As The Biggest Winner In Iran War

The ongoing Middle East conflict has upended global energy markets, cutting off supplies of approximately  8 million barrels of crude per day and 20% of liquefied natural gas (LNG). Brent crude has surged more than 50% to around $110/bbl since the conflict erupted in late February, while the U.S. st

Surge in West Texas Oil Theft Raises National Security Alarms

Criminals are exploiting weak points across the West Texas oil production region, which accounts for 15% of the world's energy resources. This emerging wave of oil theft is burning a multi-billion-dollar hole in the budgets of oil and gas operators across the Permian Basin and is becoming a national

China Pushes Electric Vehicles Toward the Five-Minute Charge Era

Electric vehicle (EV) makers are racing to develop the fastest battery chargers to give them the competitive edge, with Chinese producers once again coming out on top. One of the biggest criticisms consumers have is the length of time it takes to charge EVs, compared to refuelling internal combustio

Why Africa Must Build Energy Capacity Fast

Africa needs to strengthen its energy sector in a hurry. The continent is the most underdeveloped on the planet, and today approximately 600 million Africans lack access to electricity. These numbers are in danger of skyrocketing if African leadership does not massively expand its energy production

The High Cost of Canceling Offshore Wind in the United States

Donald Trump’s hatred for wind farms reached a new peak this week. The President announced that the United States will pay $1 billion in taxpayer dollars to a French company to not build planned wind farms in leased federal waters off the coast of New York and North Carolina. Together, those wind pr

Drillers See Triple-Digit Crude and Hit the Brakes

Brent crude is trading over $100 per barrel, WTI has topped $90, but oil drillers in the world’s largest producer are cautious about their future plans. In fact, they are rather unhappy with the war in the Middle East, because it has made it harder to plan investments. On the face of it, everything

Middle East War Reignites the Energy Transition

The worst oil and gas supply shock in history has exposed the vulnerability of dependence on fossil fuel imports and is making renewables popular again. As governments scramble to contain the fallout from the energy shock, both in supply and prices, increased electrification in transportation and po

Is It Time for Energy Rationing to Return?

In the face of ongoing conflict in the Middle East and the resulting energy shortages, the International Energy Agency (IEA) is recommending that consumers reduce their energy consumption. This is expected to help people tackle their rising energy bills. Meanwhile, several governments are putting en

Washington Plans $1 Billion Deal to Kill Wind Power as Energy Prices Rise

United States President Donald Trump will not stop in his efforts to quash offshore wind energy development, as he offers France’s TotalEnergies almost $1 billion to permanently halt its wind projects. The move follows more than a year of Trump badmouthing wind energy, cutting federal financial supp

Why Spain Is Weathering Europe’s Energy Crunch Better Than Most

Europe has “sleepwalked into yet another energy crisis” watching energy prices spike across the continent for the second time in four years due to instability in global politics and energy trade. Four years after the Russian invasion of Ukraine sent global energy markets reeling, Europe has made sig

Argentina’s State Oil Firm Dodges $16B Payout

Argentina no longer faces a $16.1 billion court-ordered payment tied to the 2012 nationalization of state-owned oil company YPF. A U.S. appeals court overturned the 2023 judgment that had awarded damages to minority shareholders, Barrons said on Friday. The United States Court of Appeals for the Sec

The Cushion Is Gone and the Oil Market Is Now Exposed

The global oil market has been on a rollercoaster since late February, but the price reaction to the largest supply disruption in history has been relatively muted. The calm was not complacency; buffers were there to absorb the shock. But the system that held for four weeks is no longer the system w

U.S. dollar rises, heads for best month since July as Iran war boosts demand