In a decisive move to strengthen its energy security amid recent global supply disruptions, the Indian government has directed state-owned Oil and Natural Gas Corporation (ONGC) to construct and fill a new underground strategic petroleum reserve (SPR) cavern at Mangaluru in Karnataka. The project, estimated at around $1.6 billion, will add 1.75 million metric tons […]
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In one of the most significant escalations yet in Ukraine’s campaign against Russian energy infrastructure, Ukrainian forces launched a massive drone assault on Moscow on June 18, 2026 — striking Gazprom Neft’s Kapotnya (Moscow) oil refinery for the second time in just days. Nearly 200 drones targeted the facility on the southeastern outskirts of the […]
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Iran is tightening its grip on the Strait of Hormuz, the world’s most critical oil chokepoint, with new rules requiring ships to obtain permission and secure insurance from Tehran. This move explicitly paves the way for future tolls, even as a fragile U.S.-Iran memorandum of understanding (MOU) signed earlier this week aimed to normalize flows. […]
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Ukraine launched one of its largest drone attacks on Moscow since Russia’s full-scale invasion began in 2022, striking the Kapotnya (Moscow) Oil Refinery for the second time in less than a week. The assault caused fires, explosions, and significant disruption in the Russian capital, while also hitting targets in the Rostov region and occupied Ukrainian […]
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Gasoline prices at the pump are falling fast, offering consumers relief after months of pain. But this relief comes amid depleted strategic buffers and lingering uncertainty over the recent Iran conflict and deal. For the Trump Administration, the trajectory of energy prices could either reinforce its political standing or expose vulnerabilities. Current Price Snapshot (Mid-June […]
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Ukrainian forces struck the Gazprom Neft-owned Moscow Oil Refinery (MNPZ) in the Kapotnya district early on June 16, 2026, igniting a fire at a facility just 15 kilometers (about 10 miles) from the Kremlin. The attack targeted Russia’s capital-region refining hub, which processes roughly 245,000–250,000 barrels per day (11–12 million tons annually) and supplies approximately […]
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According to the Energy Information Administration, today, California ranks first in jet fuel demand among the states. The California Energy Commission (CEC) projects in-state jet fuel demand will rise significantly in the long term, growing from about 271 thousand barrels per day (TBD) in 2023 to an estimated 378 TBD by 2045. These jet fuel demand […]
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Ukraine has shifted from broadly targeting refineries to striking specialized secondary processing units such as hydrocrackers, which are more difficult and time-consuming to replace. Repeated attacks on the same facilities are extending outages and reducing Russia’s ability to restore refining capacity quickly. Fuel shortages, export restrictions, and declining diesel output suggest a growing strain on […]
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Cushing, Oklahoma — the critical delivery hub for West Texas Intermediate (WTI) crude oil futures — is rapidly approaching operational limits as inventories continue their steep decline amid global supply disruptions. Latest EIA Data: Sharp and Sustained Drawdowns According to the U.S. Energy Information Administration (EIA), commercial crude oil stocks at Cushing stood at 21.64 […]
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Energy Policies Impact Agriculture and Consumers Hard This was a fun discussion about the serious issue of gasoline, diesel, and fertilizer price increases for farmers, ranchers, and consumers in California. Make no mistake, the actions taken by the Newsom administration have driven consumer prices to some of the highest in the United States. Gavin has […]
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