Greece has once again highlighted the practical and commercial limits of the European Union’s sanctions regime against Russian energy. As the world’s leading maritime nation, Athens successfully pressed for exemptions on restrictions targeting the shipping of Russian LNG to third countries in the latest (21st) sanctions package. Greek officials argued that broader bans would primarily […]
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U.S. refiners are operating near full tilt, with utilization rates holding above 96% amid record refining margins, a global diesel squeeze, and disruptions from Russian refinery outages and Middle East tensions. The latest U.S. Energy Information Administration (EIA) Weekly Petroleum Status Report for the week ending July 17, 2026, shows U.S. refineries running at 96.1% […]
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West Texas Intermediate crude hovered near $90 per barrel on July 23, 2026, with Brent trading higher in the mid-to-high $90s amid escalating disruptions across multiple global oil transit routes. Markets are reacting to simultaneous pressures on four critical choke points: the Bab el-Mandeb Strait, the Strait of Hormuz, the Suez Canal corridor, and the […]
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A recent KPMG survey of 275 Canadian manufacturing firms paints a stark picture: 42% have already shifted some or all production to the United States or are actively planning to do so. Of those, 29% have made the move, while another 13% intend to follow — with 77% of the planners expecting the shift within […]
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The ongoing conflict in the Middle East, including disruptions through the Strait of Hormuz and damage to key Qatari LNG infrastructure, has triggered a sharp global LNG supply crunch. This is forcing buyers in Europe and Asia to pivot aggressively toward coal, oil products (such as fuel oil, naphtha, and propane), and alternative natural gas […]
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In a timely July 20, 2026, article for City Journal, energy analyst Mark P. Mills dismantles the persistent narrative of an “energy transition” — the idea that wind, solar, and batteries will soon replace oil, natural gas, and coal. Mills, executive director of the National Center for Energy Analytics and author of The Cloud Revolution, […]
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Global oil markets are navigating heightened volatility as geopolitical tensions, ongoing conflicts, militant attacks, environmental constraints, and regulatory hurdles converge on several of the world’s most critical maritime and pipeline chokepoints. Brent crude prices have shown sharp swings, with peaks well above $90 during periods of acute disruption (including levels around or exceeding $94 in […]
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Oil markets are back on edge. Brent crude has surged above $90 per barrel for the first time in weeks, driven by a fresh attack on a Kuwaiti tanker in the Strait of Hormuz and renewed fighting between the United States and Iran. Early Tuesday (July 21, 2026), the UK Maritime Trade Operations (UKMTO) reported […]
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In a dramatic adaptation to regional turmoil, Iraq has mobilized thousands of tanker trucks to haul fuel oil—and soon crude—across the border into Syria, rerouting exports to Mediterranean ports like Baniyas. This overland operation stands as a stark paradigm shift from the traditional reliance on massive sea tankers through the Strait of Hormuz. While sea […]
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A recent Wall Street Journal report has confirmed that China has effectively put negotiations for the Power of Siberia 2 (PoS2) natural gas pipeline on indefinite hold. This development, highlighted in a July 19 X post by commodities analyst Jack Prandelli, underscores Beijing’s hardball tactics and Russia’s increasingly desperate position in pivoting its energy exports […]
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