Some of you may be old enough to remember cold fusion, that wondrous scientific discovery touted by the press back in the last century. Well, we don’t want to leave the impression that we have discovered another cold fusion, just that the decision date for natural (white or gold or whatever color you like) hydrogen may be coming closer. In case you missed the initial findings, geologists believe there are substantial pockets of renewable hydrogen under certain geological formations. Renewable because rainwater seeping through the ground,…

Increasing financial constraints, a low commodity price environment and a shrinking pool of prospective basins have transformed how oil and gas players explore for new barrels. Across the globe operators are prioritizing low-risk, low-cost near field or infrastructure-led exploration (ILX) prospects instead of expensive, high-risk exploration plays. ILX, although not a recent phenomenon, is a reliable avenue that capitalizes on existing production hubs and pipeline networks to commercialize smaller discoveries that might otherwise remain untapped.…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 1.057 million barrels for the week ending April 4, after a 6.037 million barrel spike in the prior week. So far this year, crude oil inventories have climbed nearly 22 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) climbed 0.3 million barrels again to 396.7 million barrels in the week ending April 4.…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 1.057 million barrels for the week ending April 4, after a 6.037 million barrel spike in the prior week. So far this year, crude oil inventories have climbed nearly 22 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) climbed 0.3 million barrels again to 396.7 million barrels in the week ending April 4.…

Via Metal Miner The Raw Steels Monthly Metals Index (MMI) returned to the downside. Overall, the index witnessed a modest 0.75% decline from March to April. Steel Prices Find Peaks as Reciprocal Tariffs Spare Steel Steel prices either found a peak or began to stabilize by the start of April. As of April 4, hot rolled coil prices fell from their peak to $920/st. Meanwhile, CRC prices and HDG prices started to move sideways, trending only slightly higher from where they stood recent weeks, and steel plate prices dropped from their peak. Despite leveling…

Economic analysts in Central Asia and the Caucasus widely believe that the immediate impact of the US tariff policy on their respective countries’ exports will be limited. Even so, some worry about potential, unforeseen consequences arising out of a global trade war. The Trump administration’s announcement of global tariffs on imports comes at a time when Central Asian states are coming together in an attempt to boost regional trade. The tariff announcement calls into question recent US expressions of interest in expanding trade and…

Oil’s recent nosedive—thanks to tariffs, OPEC+ surprises, and good old-fashioned recession fears—has put a chill over Alberta’s energy sector. But if you were expecting panic from Canadian oil CEOs, think again. The tone out of Toronto today is clear: don’t flinch. InPlay Oil’s Doug Bartole isn’t pulling rigs or cutting spending just yet, despite the price rout. “Let’s take a longer view,” he told Reuters this week. Translation: don’t panic, at least not at $60. The CEO said, however,…

US President Donald Trump said the United States will hold high-level "direct" talks with Iran at a "very big meeting" this week while warning Tehran it would be in “great danger” if the talks on its nuclear program don’t succeed. Iran's foreign minister confirmed that a meeting was set to take place on April 12, but the talks would be "indirect." "Iran and the United States will meet in Oman on Saturday for indirect high-level talks," Iranian Foreign Minister Abbas Araghchi said on X on April 7 shortly after Trump commented on…

Despite a wave of electric vehicle factories popping up across the U.S. in recent years—fueled by tax credits from the Inflation Reduction Act and promises of jobs in mostly Republican areas—many of these projects are now being scrapped, according to a new article by the Washington Post. Even before former President Trump’s new tariffs, the clean energy shift was already losing momentum. In just the first quarter of 2025, more EV-related projects were canceled than in the previous two years combined, according to Atlas Public…

In this week’s newsletter, we will take a quick look at some of the critical figures and data in the energy markets this week.  We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy. US-China Tariff Wars Trigger Largest Brent Sell-off Ever - Crude markets have experienced an unprecedented rout of investors as ICE Brent futures posted the highest ever daily traded volume…

Tensions between the world’s two largest economies have increased overnight as Beijing vowed to “fight to the end”, in response to a new wave of US tariffs. The statement followed a dramatic escalation by president Donald Trump, who threatened an additional 50 per cent tariff on Chinese goods, unless Beijing reverses its newly announced 34 per cent reciprocal levy – retaliation for Trump’s earlier 34 per cent tariff hike on Chinese imports. The new US tariffs are set to take effect Wednesday. China’s commerce…

The European Union should pledge to buy $350 billion worth of energy from the United States if it wants the U.S. tariffs on the EU eased, U.S. President Donald Trump has said. “We have a deficit with the European Union of $350 billion and it's going to disappear fast,” Trump said, as quoted by POLITICO. “One of the ways that that can disappear easily and quickly is they're going to have to buy our energy from us ... they can buy it, we can knock off $350 billion in one week. They have to buy and commit to buy a like amount of…

U.S. refiner Phillips 66 told shareholders on Tuesday that Elliott Investment Management’s demands for breaking up the company are misguided, based on inflated and unrealistic assumptions, and would destroy shareholder value. Activist hedge fund Elliott Investment Management has called on Phillips 66 to spin off its midstream business and tighten up operations. Elliott, which has an investment worth more than $2.5 billion in Phillips 66, last week made the case to the refiner’s shareholders that “Phillips investors' patience has…

U.S. refiner Phillips 66 told shareholders on Tuesday that Elliott Investment Management’s demands for breaking up the company are misguided, based on inflated and unrealistic assumptions, and would destroy shareholder value. Activist hedge fund Elliott Investment Management has called on Phillips 66 to spin off its midstream business and tighten up operations. Elliott, which has an investment worth more than $2.5 billion in Phillips 66, last week made the case to the refiner’s shareholders that “Phillips investors' patience has…

U.S. refiner Phillips 66 told shareholders on Tuesday that Elliott Investment Management’s demands for breaking up the company are misguided, based on inflated and unrealistic assumptions, and would destroy shareholder value. Activist hedge fund Elliott Investment Management has called on Phillips 66 to spin off its midstream business and tighten up operations. Elliott, which has an investment worth more than $2.5 billion in Phillips 66, last week made the case to the refiner’s shareholders that “Phillips investors' patience has…

The development of oil projects in Alaska’s North Slope and Arctic is boosting jobs growth in these areas more than the average for the state, according to the latest figures by the Alaska Department of Labor and Workforce Development. Job numbers jumped by 7% in the North Slope and Northwest Arctic regions last year, compared to broadly flat job numbers for the state of Alaska. In Alaska’s north, ConocoPhillips is developing the Willow oil project, which was approved by the Biden Administration in 2023. The $8-billion project is expected…

The development of oil projects in Alaska’s North Slope and Arctic is boosting jobs growth in these areas more than the average for the state, according to the latest figures by the Alaska Department of Labor and Workforce Development. Job numbers jumped by 7% in the North Slope and Northwest Arctic regions last year, compared to broadly flat job numbers for the state of Alaska. In Alaska’s north, ConocoPhillips is developing the Willow oil project, which was approved by the Biden Administration in 2023. The $8-billion project is expected…

The oil market meltdown in recent days could pose risks to the Russian economy, Russia’s Central Bank Governor Elvira Nabiullina said on Tuesday. The escalation of the tariff wars could negatively affect Russia’s economy, TASS news agency quoted the governor as telling Russian lawmakers in parliament today. “The main channel of influence may lie through fluctuations of oil prices, a decline of oil prices,” Nabiullina was quoted as saying. “If the escalation of the tariff wars continues, this usually leads to a decline…

India’s largest power utility, NTPC, is looking to hire consultants for feasibility studies for small modular reactors that could potentially replace some of the utility’s old coal-fired power plants, Reuters reports, quoting a tender document. Small modular reactors (SMR) are believed to be simpler and cheaper to build and install. Because of their smaller size, it is possible to install SMRs on sites that are not suitable for bigger reactors. They are also significantly cheaper and faster to build than conventional reactors…

India’s largest power utility, NTPC, is looking to hire consultants for feasibility studies for small modular reactors that could potentially replace some of the utility’s old coal-fired power plants, Reuters reports, quoting a tender document. Small modular reactors (SMR) are believed to be simpler and cheaper to build and install. Because of their smaller size, it is possible to install SMRs on sites that are not suitable for bigger reactors. They are also significantly cheaper and faster to build than conventional reactors…