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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Recent data confirms that fossil fuels (coal, natural gas, and oil) still supply 57% of global electricity generation. Wind and solar together reached about 17% of electricity in 2025, according to Ember’s Global Electricity Review. This marks progress from a decade ago, yet it tells only part of the story. Electricity represents a minority slice […]
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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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Incoming UK Prime Minister Andy Burnham is preparing to back increased North Sea oil and gas activity, including potential approvals for the Jackdaw gas field and Rosebank oil field, as part of an early policy push focused on energy security, jobs, and economic growth. Burnham, who formally took office today after succeeding Keir Starmer, has […]
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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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In a significant move strengthening U.S. energy ties with Iraq, ConocoPhillips has agreed to acquire a 42% interest in BP Energy Company of Kirkuk Limited (BP ECKL), the contractor entity overseeing the redevelopment of major oil fields in northern Iraq’s Kirkuk region. BP will retain the remaining 58% majority stake. The deal, announced on July […]
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This week, the European Union doubled (or tripled) down on its net-zero agenda with a flurry of proposals that critics describe as micro-managed, unrealistic, and dangerously detached from energy system realities. From a sweeping electrification mandate to tweaks in carbon pricing and selective delays on enforcement, Brussels continues to prioritize targets over reliable power, affordability, […]
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Energy News Beat Stand Up – Buckle Up – 10 Huge Stories Welcome to the Energy News Beat Standup, where host Stu Turley breaks down the 10 biggest energy stories reshaping global markets. In this episode, we dive into a world in flux: Russia’s refining capacity is crumbling under Ukrainian drone strikes, Iraq is suspending […]
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In a development that echoes broader regional efforts to reduce vulnerability to the Strait of Hormuz chokepoint, ExxonMobil is emerging as a key partner in Iraq’s drive for energy self-sufficiency—particularly by ending its costly and geopolitically sensitive dependence on Iranian natural gas. Iraqi Prime Minister Ali al-Zaidi met directly with ExxonMobil CEO Darren Woods in […]
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