It may seem strange to say that Friday’s reaction in crude oil to the escalation in the conflict between Israel and Iran is an overreaction, but if you can step back from the fact that Israel launched what looks like a successful bombing raid from their perspective, and Iran is retaliating with drones, the market move probably is way overdone. I have said before that traders are, in some ways, similar to talk radio hosts. They follow the news so intently that in their minds, the impact of everything gets exaggerated. When you have been waiting…

In a stunning and unprecedented pre-emptive military operation, Israel has launched a coordinated strike on Iran’s nuclear infrastructure and senior military leadership under the codename Operation Rising Lions. With surgical precision, the Israeli Air Force reportedly hit over 100 high-value targets across Iran, including uranium enrichment facilities, ballistic missile sites, and command-and-control centers. The operation, authorized by Prime Minister Benjamin Netanyahu and greenlit days in advance, represents the most audacious use of…

As part of the European Union’s efforts to halt imports of Russian natural gas by 2027, the bloc will require EU companies to disclose details of their contracts to buy Russian gas, according to an internal European Commission document seen by Reuters. In May, the EU unveiled a roadmap to end dependency on Russian energy. The roadmap calls for the EU to stop all imports of Russian gas by the end of 2027 by improving the transparency, monitoring, and traceability of Russian gas across the EU markets. New contracts with suppliers…

As part of the European Union’s efforts to halt imports of Russian natural gas by 2027, the bloc will require EU companies to disclose details of their contracts to buy Russian gas, according to an internal European Commission document seen by Reuters. In May, the EU unveiled a roadmap to end dependency on Russian energy. The roadmap calls for the EU to stop all imports of Russian gas by the end of 2027 by improving the transparency, monitoring, and traceability of Russian gas across the EU markets. New contracts with suppliers…

As part of the European Union’s efforts to halt imports of Russian natural gas by 2027, the bloc will require EU companies to disclose details of their contracts to buy Russian gas, according to an internal European Commission document seen by Reuters. In May, the EU unveiled a roadmap to end dependency on Russian energy. The roadmap calls for the EU to stop all imports of Russian gas by the end of 2027 by improving the transparency, monitoring, and traceability of Russian gas across the EU markets. New contracts with suppliers…

Israel conducted large-scale military strikes targeting Iran's nuclear and military sites, causing a sharp increase in global oil prices. Fears of disruptions to Middle East oil supplies and potential retaliatory actions from Iran led to market volatility and a drop in stock markets. While the IAEA confirmed the impact on Iran's Natanz facility, it also stated that radiation levels remained stable, and international calls for diplomacy increased. 1m ago 9:03am CST Turkey and Saudi Arabia Condemn Israel’s Strikes on Iran Turkey’s President…

This year’s milder winter, weak industrial demand, and higher gas pipeline imports are set to result in the first decline in China’s LNG imports since 2022, according to estimates by research firms compiled by Reuters. Last year, China imported a total of 76.65 million metric tons of LNG. This year, the volume is set to be between 6% and 11% lower compared to 2024 levels. In the first four months of 2025, Chinese imports of the super-chilled fuel slumped to 20 million tons, down from 29 million tons for the same period of 2024. LNG…

This year’s milder winter, weak industrial demand, and higher gas pipeline imports are set to result in the first decline in China’s LNG imports since 2022, according to estimates by research firms compiled by Reuters. Last year, China imported a total of 76.65 million metric tons of LNG. This year, the volume is set to be between 6% and 11% lower compared to 2024 levels. In the first four months of 2025, Chinese imports of the super-chilled fuel slumped to 20 million tons, down from 29 million tons for the same period of 2024. LNG…

Iran’s oil refineries and fuel depots haven’t been damaged by the overnight Israeli strikes, the Iranian oil ministry said on Friday as the Islamic Republic vowed retaliation and began launching drones toward Israel. “No damage was caused to the country's refining facilities and oil depots, and currently the activities of these facilities and fuel supply are ongoing in all parts of the country without interruption,” Iran’s oil ministry said in a statement carried by Agence France-Presse (AFP). Late on Thursday, Israel…

Israel has initiated its broadest direct strikes on Iranian territory to date. The operation has so far targeted multiple nuclear facilities, IRGC command nodes, ballistic missile sites, and key military infrastructure across multiple provinces. Early reporting confirms damage at Natanz and Fordow enrichment complexes, alongside the elimination of several senior IRGC officials. Iranian airspace has been closed, air defenses remain fully activated, and Tehran has declared that retaliation is imminent. While we have seen it escalate many times before,…

Crude oil analysts are in a rush to revise their forecasts in the wake of Israel’s attacks on Iran as geopolitics trumps fundamentals yet again. “Oil could spike toward $80 if Middle East tensions escalate and supply risks materialize, but rising OPEC+ output may cap gains and revive oversupply concerns into autumn,” Saxo Markets chief investment strategist Charu Chanana said, as quoted by Bloomberg. “A worst-case scenario — such as a closure of the Strait of Hormuz or a disruption to Iran’s 2.1 million barrels…

Israel has launched a series of coordinated airstrikes on Iran, targeting nuclear facilities in what it describes as a decisive move to prevent the Islamic Republic from becoming a nuclear power. The Israeli military announced the operation on its official Telegram channel, stating that "dozens of fighter jets struck Iranian nuclear complexes in various parts of the country." The strikes immediately triggered a sharp reaction in global markets, sending oil, bonds, and gold rallying. Brent crude surged by more than 7% in early Friday trading, as…

Israel has launched a series of coordinated airstrikes on Iran, targeting nuclear facilities in what it describes as a decisive move to prevent the Islamic Republic from becoming a nuclear power. The Israeli military announced the operation on its official Telegram channel, stating that "dozens of fighter jets struck Iranian nuclear complexes in various parts of the country." The strikes immediately triggered a sharp reaction in global markets, sending oil, bonds, and gold rallying. Brent crude surged by more than 7% in early Friday trading, as…

Saudi Arabia’s flagship NEOM Green Hydrogen Project has crossed a major milestone, with 80% of its construction work now complete across multiple sites, according to project partner Air Products (NYSE:APD). The sprawling project includes a large-scale green hydrogen production facility, solar and wind power farms, and an integrated transmission grid. The entire complex is expected to begin operations within two years, positioning it as the largest renewable-powered ammonia production facility globally. Air Products confirmed that the 4 GW…

The OPEC+ group was likely betting on robust demand during the peak summer driving season when it decided to start accelerating the oil production hikes in May. The market proves it has been right. At the end of the second quarter and the start of the third quarter, demand growth will not lag supply growth materially, according to analysts. Oil Glut in Q4?   But come autumn and the fourth quarter, the market could find itself oversupplied, weighing on oil prices and market sentiment. Analysts and major investment banks currently expect an…

The oil and gas industry is pushing back against the methane policy adopted recently by the European Union aimed at limiting emissions of the potent greenhouse gas. A new report, published June 10 by the research group InfluenceMap, highlights how oil and gas companies and lobby groups across the EU and U.S. are using a range of tactics to destabilise the EU’s methane regulation. The policy was adopted in August 2024, and includes new rules to reduce emissions in the energy, agriculture and waste sectors, and is due to be fully…

The nuclear power industry has been enjoying the spotlight lately. In just the past two days, the UK pledged $19 billion in additional funding for a nuclear project, and the World Bank lifted a ban on nuclear financing in developing nations, in place since 2017. A nuclear age is coming. “We need new nuclear to deliver a golden age of clean energy abundance, because that is the only way to protect family finances, take back control of our energy, and tackle the climate crisis,” UK energy minister Ed Miliband said in a statement in comments…

Via Metal MIner   The Automotive MMI (Monthly Metals Index) moved sideways month-over-month, dropping by 0.70%. This comes as auto industry executives in the U.S. are confronting a whirlwind of trade and supply chain disruptions, not to mention the effects of the recent round of Trump tariffs. In the past month alone, high-stakes U.S.–China trade talks, critical mineral export curbs and seesawing metal tariffs have shaken procurement strategies across the automotive sector. From rare earth shortages forcing factory shutdowns to volatile…

Armenia’s foreign trade turnover fell off a cliff during the first four months of 2025 after the Kremlin changed the rules that govern Yerevan’s imports and exports of Russian gems and precious metals. According to data published by the Arminfo news agency on June 9, Armenia’s overall trade volume amounted to $6.3 billion during the first four months of this year, a whopping 53 percent decline over the volume during the first-third of 2024. The decline is linked to a precipitous drop-off in the import and export of gems and precious…

Exports to the US – the country the UK trades with the most with – saw its largest monthly decrease in April since records began, official data has shown.  The onset of President Trump’s trade war with some of his closest allies and foes put governments on standby as major forecasters warned the world economy would suffer from painful tariffs on goods.  Fresh data published by the Office for National Statistics showed the UK was not immune to turmoil as exports of goods to the US fell by £2bn after four months…