Marathon’s $7.4 Billion Quarter

The country’s largest refiner earned more than five times what it made a year ago. Here is what a $45.70-a-barrel margin looks like on the sign at your gas station. By Energy News Beat | Nov. 3, 2026 If you filled up this summer and wondered where the money went, Marathon Petroleum just showed you […]

Continue Reading

US Supplied 18.8% of Europe’s Crude in Q2 2026 — Up from Lower Shares, While Russia’s Share Collapsed from 25.8% in 2021

The United States has solidified its position as Europe’s top crude oil supplier. According to Eurostat data highlighted in a recent analysis by commodity markets observer Jack Prandelli, the US accounted for 18.8% of the EU’s petroleum oil imports by value in the second quarter of 2026. That marked a rise from 15.1% in 2025 […]

Continue Reading

The Atlantic Distillate Trap

Crude is not scarce. Diesel out of the Atlantic basin is — and the refineries that could make it are not where the barrels are, or configured to run them. American margins are near records while Asian margins have collapsed, and that gap is doing more to set the price at your pump than the […]

Continue Reading

U.S. Weekly Rig Count: Comparing Enverus, Baker Hughes, and WellDatabase — Flat Weekly Activity Against Year-Over-Year Gains as SPR Hits Multi-Decade Lows and Distillates Stay Tight

As of early November 2026, U.S. drilling activity shows modest weekly stability or small declines depending on the source, set against a solidly higher year-over-year base. Baker Hughes reported its closely watched weekly rotary rig count at 603 for recent weeks ending in late October (unchanged week-over-week and up roughly 53 from about 550 a […]

Continue Reading