Canada’s Economy Caught Between Oil Windfalls and Trade Wars
Wednesday, May 13,2026,00:00
A recent Bank of Canada Market Participants Survey has flagged geopolitical and trade tensions as the biggest risks facing the Canadian economy. Leading the downside are geopolitical risks led by the Middle East war, with 82% of respondents identifying it as the biggest risk, while 79% and 57% of respondents picked growing trade tensions and tightening global financial conditions, respectively. The shift from trade tensions dominating headline risks to Canada’s economy amid Trump tariffs is largely attributed to the Iran war, which has disrupted… .. read more..
Why Physical Crude Premiums Collapse Despite the Hormuz Crisis
Tuesday, May 12,2026,23:00
The price of physical crude has collapsed in recent weeks from premiums of over $30 per barrel above the Brent benchmark in early April, to near-parity or even at small discounts in the May buying cycle window. That’s not because the worst-ever disruption in oil markets has eased and supply has suddenly become plentiful from sources other than the Middle East. It’s because refiners are adjusting their buying behavior and backing out of nearly $150 per barrel physical cargo prices in hopes of a resolution to the conflict and an eventual… .. read more..
5 Oilfield Services Stocks Built for a Post-Hormuz World
Tuesday, May 12,2026,22:00
When U.S. and Israeli forces launched coordinated airstrikes on Iran at the end of February, the energy market’s first question was how long the Strait of Hormuz would stay closed. Ten weeks later, that question is still open. Brent is hovering near $107, Trump called Iran’s latest counterproposal “totally unacceptable” on Monday, and Saudi Aramco CEO Amin Nasser has been warning the market that it is hemorrhaging roughly 100 million barrels of supply every week the blockade holds. For oilfield services, the… .. read more..
Trump wants gas tax relief. But slim driver savings could strain a key federa...
Tuesday, May 12,2026,21:40
President Donald Trump floated a federal gas tax suspension. If enacted, here's how that could impact consumers. .. read more..
US Crude Inventories Fall But Gasoline Stocks See Surprise Build
Tuesday, May 12,2026,21:04
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 2.188 million barrels in the week ending May 8. In the week prior, US crude oil inventories fell by 8.1 million barrels. Analysts had expected a 1.65 million-barrel draw for the current reporting period. US crude inventories are up 35 million barrels so far this year, according to API data. Inventories in the US Strategic Petroleum Reserve (SPR) continue to draw down in an attempt to alleviate the pressure on prices. For week ending May 8, 8.6… .. read more..
Saudi Aramco CEO says oil market won’t normalize until 2027 if Hormuz disrupt...
Tuesday, May 12,2026,21:00
The oil market will take until 2027 to normalize if the disruption in the Strait of Hormuz persists beyond the middle of June, the CEO of the world’s largest oil company warned Monday. “If the Strait of Hormuz opens today, it will still take months for the market to rebalance, and if its opening is ... .. read more..
Fitch Ratings Raises Its Near-Term Oil and European Gas Price Assumptions
Tuesday, May 12,2026,21:00
Fitch Ratings has raised its 2026-2027 oil price assumptions due to the longer-than-expected effective closure of the Strait of Hormuz amid the Iran conflict. They are now based on an assumption the strait will begin reopening around July. The higher 2026-2027 Title Transfer Facility (TTF) assumptions reflect disrupted liquefied natural gas (LNG) flows from Qatar ... .. read more..
The United States set record energy production in 2025, again
Tuesday, May 12,2026,21:00
Total energy production in the United States increased to a new record of 107 quadrillion British thermal units (quads) in 2025, a 3.4% increase from the previous record set in 2024, according to new data in our Monthly Energy Review. Total production was driven by record-high production in natural gas, crude oil, natural gas plant ... .. read more..
EU energy ministers to mull domestic gas drilling amid security concerns
Tuesday, May 12,2026,21:00
The EU Cyprus Presidency will raise the question during an informal gathering of ministers amid energy security concerns and soaring prices. Gas projects in Greece, Italy, Romania and Poland were flagged as available resources with potential for increased explorations. European Union energy ministers are expected to discuss domestic natural gas drilling during an informal meeting ... .. read more..
European natural gas prices gain amid fading hopes for U.S.-Iran peace deal
Tuesday, May 12,2026,21:00
European natural gas prices rose on Tuesday, tracking an uptick in oil prices, as hopes dimmed for an imminent end to the Iran war. The benchmark Dutch front-month contract at the TTF hub edged up by 1.3% to 46.835 euros per megawatt hour by 09:17 ET (13:17 GMT), according to Intercontinental Exchange data. The British ... .. read more..
Norway’s oil revenue to rise $18 billion on Iran war energy prices
Tuesday, May 12,2026,21:00
Norway expects to earn 721.1 billion crowns ($78.71 billion) in state revenue from oil and gas production this year, the government said on Tuesday. The figure represents an increase from the initially forecast 557.4 billion crowns, driven by higher energy prices amid the Iran war. The country produces around 4 million barrels of oil equivalent ... .. read more..
Here’s Why 27 May Is Now Critical For Iraq’s Future And The West’s Middle East P
Tuesday, May 12,2026,21:00
After more than five months of political cajolery, threats, and infighting since Iraq’s 11 November parliamentary elections – the seventh since Saddam Hussein’s fall in 2003 – an erstwhile obscure businessman, Ali al-Zaidi, has been selected as the Prime Minister-designate of the governing Iran-aligned Shia Coordination Framework bloc. Regarded as a compromise candidate between more pro-West sitting Prime Minister, Mohammed Shia’ al-Sudani, and one of his predecessors, the pro-Iran Nouri al-Maliki, al-Zaidi now has… .. read more..
Here’s Why 27 May Is Now Critical For Iraq’s Future And The West’s Middle East
Tuesday, May 12,2026,21:00
After more than five months of political cajolery, threats, and infighting since Iraq’s 11 November parliamentary elections – the seventh since Saddam Hussein’s fall in 2003 – an erstwhile obscure businessman, Ali al-Zaidi, has been selected as the Prime Minister-designate of the governing Iran-aligned Shia Coordination Framework bloc. Regarded as a compromise candidate between more pro-West sitting Prime Minister, Mohammed Shia’ al-Sudani, and one of his predecessors, the pro-Iran Nouri al-Maliki, al-Zaidi now has… .. read more..
Trump Floats Federal Gas Tax Holiday as Pump Prices Surge
Tuesday, May 12,2026,20:00
The Trump administration is considering a temporary removal of the federal gas tax in response to soaring retail fuel prices that have dampened consumer sentiment, sending it to its lowest since the early 1950s. “I think it's a great idea,” the President told CBS News in an interview Monday. “Yup, we're going to take off the gas tax for a period of time, and when gas goes down, we'll let it phase back in.” The remarks of the President echo a suggestion by Energy Secretary Chris Wright made on Sunday, about the administration… .. read more..
U.S. crude oil tops $100 again as hope fades for a U.S.-Iran peace deal
Tuesday, May 12,2026,19:57
Oil prices rose Tuesday amid concerns over a prolonged Middle East conflict after President Trump's comments that the ceasefire with Iran is on "life support" .. read more..
Iraq’s New Prime Minister Faces Immediate Test Over Iran and the U.S.
Tuesday, May 12,2026,19:00
Iraq may soon have a new prime minister as the Coordination Framework, Iraq’s largest parliamentary bloc and a coalition of Shia Arab political forces, nominated businessman Ali al-Zaidi for the post, hoping to break a deadlock between caretaker prime minister Mohammed Shia Al-Sudani and former prime minister Nouri Al-Maliki, who was previously nominated for the post. U.S. president Donald Trump spoke to Zaidi and pronounced himself satisfied: “With our help, he won, and we want him to do very well.” Trump may have felt… .. read more..
Analysis: Iran war hangs over Trump's China trip — and his presidency
Tuesday, May 12,2026,18:11
There is no quick fix to the economic and political damage from the war. .. read more..
Trump doesn't need Congress to restart Iran strikes: Hegseth
Tuesday, May 12,2026,18:10
The Iran war, now well into its third month, has caused oil prices to soar globally as Iran continues to lock down the Strait of Hormuz. .. read more..
Zelenskyy Meets Palantir CEO as Ukraine Doubles Down on AI Warfare
Tuesday, May 12,2026,18:00
Ukrainian President Volodymyr Zelenskyy met with Palantir CEO Alex Karp on Tuesday as Kyiv pushes deeper into artificial intelligence to fight Russia, building on a months-old partnership that is already reshaping how Ukraine targets incoming drones and plans strikes inside Russian territory. The meeting came as Ukraine's Defense Minister Mykhailo Fedorov, who took the role in January, said more than 100 companies are now training over 80 AI models to detect and intercept aerial targets through the Brave1 Dataroom, a secure platform Kyiv launched… .. read more..
EIA Gives Oil Traders a New Way to Panic About Hormuz
Tuesday, May 12,2026,17:30
The U.S. Energy Information Administration is about to hand oil traders another thing to obsessively refresh between API inventory data drops and Strait of Hormuz headlines. Starting Wednesday, the EIA will publish a new quarterly report that tracks global strategic petroleum reserves and energy flows through major shipping choke points, including through the world’s most nerve-wracking stretch of water right now: the Strait of Hormuz. The additional data will add to the hyperfixation that currently exists in the oil market on the fallout… .. read more..
CCI clears Adani Power's GVK buy, other deals
Tuesday, May 12,2026,17:28
The Competition Commission of India has approved four business deals, including Adani Power's acquisition of GVK Energy and Canada Pension Plan Investment Board's stake in Ctrl S Datacenters. The regulator also cleared Thriveni Earthmovers' purchase of a stake in Llyods Engineering Works and the merger of three entities into the company. .. read more..
Five reasons why oil prices haven’t surged higher despite the Iran war
Tuesday, May 12,2026,17:21
The oil market faces the largest supply disruption in its history, yet prices aren't that high compared with the past. Wall Street analysts have five reasons why. .. read more..
‘How long can oil companies absorb losses?’: Hardeep Singh Puri on fuel prices
Tuesday, May 12,2026,17:18
Speaking about the potential hike in fuel prices, India's Oil Minister Hardeep Puri reassured the public while acknowledging the pressure on oil companies. The minister highlighted the importance of proactively addressing the economic strain caused by current fuel pricing strategies. .. read more..
Oil to stay above $100 per barrel in May and June as inventories fall: EIA
Tuesday, May 12,2026,17:14
Worldwide stockpiles dropped by 8.5 million bpd in second quarter .. read more..
US lends 53.3 million barrels from oil reserve amid Iran conflict
Tuesday, May 12,2026,17:00
The Trump administration announced it will loan 53.3 million barrels of crude oil from the U.S. Strategic Petroleum Reserve to energy companies as part of an international effort to stabilize oil markets affected by the U.S.-Israeli conflict with Iran. Nine companies, including Exxon Mobil (NYSE:XOM), Trafigura, and Marathon Petroleum Company, borrowed approximately 58% of the ... .. read more..
Copper Nears Record High as Traders Tune Out Trump's Iran Rejection
Tuesday, May 12,2026,17:00
Copper is defying the 'war discount' usually applied to industrial metals, nearing an all-time high on Monday as a brutal supply crunch proves more powerful than the threat of a global recession The three-month contract on the London Metal Exchange climbed as much as 0.5% to $13,643 a ton, its strongest intraday print since the January 29 spike that briefly carried prices above $14,500, according to Bloomberg. The rally extended across the LME complex. Aluminum jumped more than 2%, nickel added 1.9%, and the exchange's all-in price gauge closed… .. read more..
Tata Power in talks with three states for its nuclear power project plan
Tuesday, May 12,2026,16:38
Tata Power is taking significant strides in its pursuit of nuclear energy. Currently, negotiations are underway with three states regarding its upcoming projects. Anticipation builds as a comprehensive project report is slated for release within the next six months. Additionally, Tata Power is teaming up with NPCIL to bring these nuclear initiatives to fruition. .. read more..
Eni Looks to Cash In on LNG Boom With FLNG Fund Deal
Tuesday, May 12,2026,16:30
Eni is looking to squeeze more cash out of LNG without giving up control of the business. Reuters reported Tuesday that the Italian energy major has hired Morgan Stanley to explore a potential deal involving its floating LNG assets, with infrastructure giants including Apollo, KKR, and Stonepeak reportedly approached in early-stage discussions. The structure under consideration would allow outside investors to inject capital into a vehicle tied to cash flows from Eni’s floating LNG operations. The deal could raise at least €1 billion… .. read more..
Venture Global shares jump after sharp rise in 2026 profit forecast
Tuesday, May 12,2026,16:24
US LNG exporter reports steep increase in revenues in first quarter as volumes surge .. read more..
Trump’s Ceasefire Warning Sends Oil Prices Higher Again
Tuesday, May 12,2026,16:01
Brent crude nears $110 as Trump warns the Iran ceasefire is on “life support,” while Gulf producers signal oil infrastructure repairs may stretch into 2027. China’s Oil Machine Hits the Brakes: Imports Sink, Margins Tank, Pressure Rises - With Gulf supply still stranded, China’s crude imports posted a hefty 2.4 million b/d month-over-month decline in April, averaging only 9.25 million b/d and marking the lowest pace of inflows since July 2022. - Apart from the obvious sourcing problems all Asian refiners face nowadays, Chinese… .. read more..
Suriname’s Delayed Oil Boom Is Finally Ready for Takeoff
Tuesday, May 12,2026,16:00
The tiny impoverished South American country of Suriname has been battling for six years to launch a petroleum boom, which pundits believe will replicate neighboring Guyana’s oil rush. A combination of poor drilling results, high gas-to-oil ratio, and mismatched seismic data delayed the emergence of what could be South America’s last great offshore oil boom. Suriname’s favorable regulatory environment and low break-even prices, coupled with the recent price shock following U.S. and Israeli strikes on Iran, will drive greater investment… .. read more..
Asia’s Major LNG Importers Japan and Korea Turn to Coal
Tuesday, May 12,2026,15:30
Spiking LNG prices and reduced supply from the Middle East have prompted Japan and South Korea to raise coal power generation and coal imports in recent weeks. Gas-fired power generation in Japan and South Korea, the world’s second- and third-largest LNG importers after China, slumped to multi-month lows in April and early May. That’s because supply from the Middle East crashed with no Qatari shipment passing through the Strait of Hormuz between February 28 and this past weekend, when the first cargo cleared the chokepoint bound for… .. read more..
Global Supply Shock Reignites Oil Exploration Boom
Tuesday, May 12,2026,15:00
As the world grapples with the most serious oil and gas supply crunch in history, energy security has come front and center for every government on the planet. Some have touted electrification as a way of weathering the crisis and avoiding future ones. Realists, both in politics and industry, however, are focusing on what the oil and gas industry has been warning about for years: the need for more investment in exploration. “Production and recovery represent the most immediate path to incremental barrels, and as customers continue to… .. read more..
Qatar Asks Vessels at Key LNG Port To Go Dark for Safety
Tuesday, May 12,2026,14:30
Qatar has requested LNG vessels near its Ras Laffan LNG port to switch off their transponders as part of safety measures at the key export port of the world’s second-largest LNG exporter before the war, anonymous sources with knowledge of the plan told Bloomberg on Tuesday. The de facto closure of the Strait of Hormuz has trapped about 20% of daily global LNG flows, mostly those previously shipping out of Qatar and part of the UAE’s LNG flows. In addition, Iranian drone and missile strikes on energy infrastructure… .. read more..
TotalEnergies reignites upstream Syria interest
Tuesday, May 12,2026,14:18
Supermajor links up with QatarEnergy and ConocoPhillips to target offshore block .. read more..
Behind Big Oil’s first-quarter beat: The quiet rise of trading desks
Tuesday, May 12,2026,14:05
Europe's oil supermajors highlighted trading contributions as they reported stronger-than-expected profits through the first three months of the year. .. read more..
India’s inflation in April rises for sixth straight month, but undershoots es...
Tuesday, May 12,2026,14:03
Disruptions from the Middle East conflict pose a risk to India's economic growth and inflation. .. read more..
Diplomacy Falters as Hormuz Crisis Edges Toward Escalation
Tuesday, May 12,2026,14:00
The latest exchange between Washington and Tehran over a proposed path toward de-escalation has raised new questions about what comes next in the growing crisis around the Strait of Hormuz. President Donald Trump described Iran’s latest response to a US-backed proposal as “totally unacceptable,” even as both sides continue to signal interest in negotiations over sanctions relief, nuclear restrictions, and the future of shipping through the strategic waterway. Analysts in Washington say the standoff is increasingly testing assumptions… .. read more..
Argentina’s second largest shale player raises production guidance
Tuesday, May 12,2026,13:48
Vista Energy also increased planned investments for the 2026-2028 period .. read more..
Petrobras profits fall despite favourable oil prices and exchange rate
Tuesday, May 12,2026,13:30
Brazilian company had record hydrocarbon production in first quarter of 2026 .. read more..
Brazil's Oil Exports to China Double as Iran War Upends Crude Flows
Tuesday, May 12,2026,13:30
Brazil more than doubled the volume of its oil exports to China, with export values also nearly doubling, in the first quarter of 2026 from a year earlier, as the Middle East conflict and the closed Strait of Hormuz are re-arranging global commodity flows. The value of Brazil’s crude oil exports to China surged by 94.6% to $7.2 billion in the first quarter, per Brazilian government data compiled by the Brazil-China Business Council. The volume of oil exports, 16 million metric tons, was 122% higher compared to the first quarter of 2025,… .. read more..
Lloyd's Register grants AiP for new Chinese-designed FPSO
Tuesday, May 12,2026,13:11
Wison designs new FPSO for harsh environment .. read more..
Modi's Fuel Price Freeze Is Costing State Retailers Billions
Tuesday, May 12,2026,12:30
India may have to eventually reckon with how long its major state-owned fuel retailers could sustain losses amid soaring international prices and artificially lowered prices at home, according to Oil Minister Hardeep Singh Puri. India’s oil marketing companies (OMCs) are selling gasoline and diesel below market prices, as the world’s third-largest crude importer looks to shield consumers in the world’s most populous country from soaring prices at the pump. Eventually, the authorities may have to assess how long these fuel retailers… .. read more..
What's at stake for trade, Taiwan and Iran in Trump's high-risk summit with C...
Tuesday, May 12,2026,12:07
China experts anticipate Trump and Xi may announce trade deals or other agreements, such as a Chinese purchase of U.S. agricultural products or Boeing aircraft. .. read more..
Europe’s Chemicals Sector Gets a Brief Reprieve
Tuesday, May 12,2026,11:30
The battered European chemicals industry has just closed a weak but still better-than-expected first quarter as the supply shock from the Middle East hit Asian petrochemical makers amid dried-up naphtha and other feedstock supplies from the Persian Gulf. Asia’s petrochemicals sector is highly dependent on naphtha, liquefied petroleum gas (LPG), and methanol from the Persian Gulf. Across Asia, shortages of naphtha and other key petrochemicals feedstocks due to the Iran war have already forced petrochemicals firms to… .. read more..
India will need to see how long fuel retailers can bear losses, oil minister ...
Tuesday, May 12,2026,11:23
India's oil minister highlighted the need to address state-run fuel retailers' mounting losses from selling petrol and diesel below market rates. Despite global price surges, pump prices remain unchanged, impacting companies significantly. Officials deem compensation fiscally unsustainable, suggesting a substantial but inflation-conscious price adjustment may be necessary soon. .. read more..
Halliburton gears up as industry warms to oilfield AI
Tuesday, May 12,2026,11:09
Rapid technological changes promise big gains in efficiency but require veterans to place trust in the machines .. read more..
Which contractors are lining up to bid for Petrobras’ Albacora FPSO?
Tuesday, May 12,2026,11:08
Brazilian state-controlled oil company to welcome offers for P-88 FPSO in late July .. read more..
Coal gasification key to build long-term resilience against global energy sho...
Tuesday, May 12,2026,10:59
India needs to boost its domestic coal gasification capabilities. This will build resilience against global energy shocks and achieve economic self-reliance. Coal gasification converts dry fuel into syngas, an alternative fuel that reduces carbon emissions. Experts highlight its strategic importance for energy security and import substitution. This initiative aims to strengthen India's position in critical sectors like energy and fertilizers. .. read more..
Oil prices extend gains as Trump comments diminish hopes for a U.S.-Iran peac...
Tuesday, May 12,2026,10:40
Oil prices rose Tuesday amid concerns over a prolonged Middle East conflict after President Trump's comments that the ceasefire with Iran is on "life support" .. read more..