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 […]
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Europe’s refinery rethink is real, smaller than the headlines, and exactly the argument California needs to hear. The state cut 21.5% of its refining capacity in seven years, 64% of the entire national decline, and now buys a fifth of its gasoline across a three-week ocean voyage with no pipeline to fall back on. By […]
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The global liquefied natural gas (LNG) market is locked in an intensifying bidding contest between Asia and Europe, driven by severe disruptions to Qatari supplies through the Strait of Hormuz amid the US-Iran conflict that began in late February 2026. Spot prices have more than doubled—surging roughly 150% from pre-conflict levels near $10.40 per million […]
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Saudi Arabia has told OPEC that its crude production collapsed again in August 2026, falling 1.9 million barrels per day to 6.238 million b/d—the lowest level the kingdom has reported since 1990, at the outset of the Gulf War. Riyadh attributed the drop to renewed U.S.–Iran hostilities that squeezed its export routes. That official communication, […]
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Hedge funds have sharply reduced their short-only positions on European diesel (ICE gasoil) to the lowest level in more than two years while adding fresh long positions, signaling that traders expect the current historic fuels supply crunch to persist. According to ICE Futures Europe data cited in reports of the Bloomberg story, funds cut short-only […]
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A brutal European heatwave is once again exposing critical vulnerabilities in the continent’s energy infrastructure — and France’s nuclear fleet is front and center. And Germany’s nuclear fleet was blown up intentionally. Record-high river temperatures are forcing operators to curb output at up to five nuclear reactors this week, with at least two already derated. […]
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QatarEnergy has paused its aggressive ramp-up plans at the Ras Laffan LNG complex following a recent tanker attack in the Strait of Hormuz, prioritizing security over speed. This decision delays the critical LNG supply that the market had been counting on for the upcoming winter season. According to market analyst Jack Prandelli (@jackprandelli), QatarEnergy had […]
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Be careful who you vote into office – you will end up paying for their decisions. Humanity’s growing thirst for energy shows no signs of slowing. Despite years of “energy transition” rhetoric promising a shift away from fossil fuels, the reality is far different: we are in an Energy Additions Era, where new sources are […]
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The UK is staring down a £500 billion ($667 billion) price tag to hit its net-zero and clean power targets. This eye-watering sum, mostly front-loaded capital expenditure on renewables, grid upgrades, and transmission infrastructure, is set to hammer businesses and household bills for at least the next decade. According to the Energy Industries Council (EIC), […]
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This risks a tight winter as the injection season winds down, with inventories projected to be just 76% full by late October. According to a Financial Times report citing industry analysis (primarily Wood Mackenzie), Europe faces the prospect of entering the 2026/27 heating season with its lowest natural gas storage levels in at least 15 years. […]
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