U.S. Rig Count Slides Amid Jump In Crude Prices
The number of total active drilling rigs in the United States fell by 3 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
PepsiCo confirms Tesla Semi truck deliveries to start in December
PepsiCo Inc (PEP.O) confirmed on Friday it would take delivery of Tesla Inc’s (TSLA.O) Semi trucks on Dec. 1, becoming the first company to receive its orders of the much-delayed Continue Reading
U.S. Shale Workforce In Short Supply
U.S. crude oil and gasoline inventories might be in short supply, but so are U.S. shale workers, according to new data released by the Labor Department on Friday. U.S. shale Continue Reading
US cash, futures gas prices slump amid forecasts for largest-ever weekly storage build
Highlights Supply-demand model shows 134 Bcf build for Oct 7 week Build to be largest on record, reducing storage deficit US natural gas prices across the cash and futures markets Continue Reading
Food Prices Drop Again, Easing Pain of High Grocery Bills
Food prices declined to the lowest since January. Megan Durisin Albery reports. Global food prices fell for a sixth month, potentially offering relief to consumers battered by across-the-board inflation. Agricultural Continue Reading
Rivian Recalling Nearly All of Its Vehicles
Electric truck and SUV maker Rivian urged customers to stop driving their vehicles if they experience issues with steering or suspension problems. Rivian Automotive Inc. RIVN -7.64%▼ is recalling nearly Continue Reading
In Hurricane Ian’s Wake, Insurers and Homeowners Gear Up for Coverage Fights
Litigation is looming for home insurers in Florida as cash-strapped, underinsured homeowners—paired with an aggressive plaintiffs’ bar—are expected to turn to the court system to try to force payments for Continue Reading
EPA proposes endangerment finding for lead emissions from aircraft engines that operate on leaded fuel
The US Environmental Protection Agency (EPA) announced a proposed determination that emissions of lead from aircraft that operate on leaded fuel cause or contribute to air pollution that may reasonably Continue Reading
Russia says truck bomb damages key bridge to Crimea
Russian authorities said that a truck bomb on Saturday caused a fire and the collapse of a section of a bridge linking Russia-annexed Crimea with Russia — a key supply Continue Reading
Russia’s bridge to Crimea severely damaged by explosion
An explosion tore through Russia’s bridge across the Kerch Strait to Crimea early on Saturday, severely damaging it in a major blow to Vladimir Putin more than seven months into Continue Reading
EU leaders reaffirm support for Ukraine, squabble over gas price cap
EU leaders remain divided over gas price cap European Commission to make proposals for EU summit Poland criticises Germany for big spending on compensation Leaders vow continued financial, military aid Continue Reading
EXCLUSIVE U.S. Navy jet flew across Baltic hours after Nord Stream burst
A U.S. Navy reconnaissance aircraft flew near the site of the ruptured Nord Stream 2 pipeline in the Baltic Sea hours after the first damage emerged, according to tracking reviewed Continue Reading
Putin orders Russia to seize Exxon-led Sakhalin 1 oil and gas project
Russian President Vladimir Putin has signed a decree, published on Friday, to set up a new operator for the Sakhalin 1 oil and gas project, following similar steps to seize Continue Reading
German Production Falls as Higher Energy Prices Hit Manufacturing
German factory output fell in August, driven by cutbacks in energy-intensive industries as costs surged following reductions in the supply of natural gas from Russia. With separate figures showing a Continue Reading
Russia’s Soaring Defense Spending Is Unsustainable
Russia’s ongoing aggression in Ukraine has forced the Kremlin to ramp up defense spending in a big way. The turbulence in Russian defense spending will probably increase in 2023. The Continue Reading
Russia Not Ruling Out Repair Of Nordstream Gas Pipelines
Russian Embassy in Denmark: Russia is not ruling out the possibility of repairing the Nordstream gas pipelines. Russia: we’re ready to supply gas to Europe through the undamaged line of Continue Reading
‘Significant work still to be done’ on European gas price cap proposals
Highlights Next EU Council on Oct 20 Deeper reform ‘six months away’ EFET warns of damaging knock-on effects The European Commission has significant work to do on the design of Continue Reading
French government favours raising taxes on private jets -minister
The French government is in favor of raising taxes for private jets next year by aligning the taxation of aviation fuels with that of fuels used by cars, environment minister Continue Reading
Winter Warnings Spur UK Households to Dial Down Thermostats
Britons confronted by staggering costs this winter are turning down the heating and putting on the jumpers, and that matters for energy markets. Keeping the thermostat a few degrees cooler Continue Reading
Kremlin backers openly target Russia’s generals for battlefield setbacks
As Russian troops continued their retreat in southeastern Ukraine, the Kremlin-appointed “governor” of the Russian-occupied Kherson region made a suggestion to Russia’s defense minister Sergei Shoigu. “A lot of people Continue Reading
A Distracted Russia Is Losing Its Grip on Its Old Soviet Sphere
A small market in Orlovka, Kyrgyzstan, is still dominated by a statue of Lenin. With the Kremlin distracted by its flagging war more than 1,500 miles away in Ukraine, Russia’s Continue Reading
Danish Company To Build World’s Tallest Onshore Wind Turbine
Vestas, a Danish wind energy firm, announced in September that it would be establishing an onshore wind turbine tower with a hub height measuring 199 meters. The giant structure is Continue Reading
Oil Poised for Biggest Weekly Rally Since March on OPEC+ Move
Oil headed for the biggest weekly gain since early March as OPEC+ put the market on course for further tightening ahead of winter. While West Texas Intermediate was near $89 Continue Reading
Oil Prices Could Climb Back to $110 a Barrel, Analyst Says
Oil prices could easily surge back above $100 a barrel next year as already-tight supplies could be further challenged by an increase in Chinese consumption, according to Global X Management Continue Reading
Oil hovers near three-week highs after OPEC+ agrees to slash crude output
Oil prices stabilized near three-week highs on Thursday after OPEC+ agreed to further tighten global crude supply with a deal to slash production by about 2 million barrels per day, Continue Reading
A New Era of Climate Disasters Revives Calls for Climate Reparations
Summertime rains supercharged by rising temperatures turned a third of Pakistan into an impromptu lake. A disaster that began in mid-June remains very much ongoing more than three months later. Continue Reading
OPEC+ move reignites Americans’ top worry ahead of November midterms
production cut by the OPEC+ oil cartel is reigniting U.S. voters’ No. 1 fear – high inflation – and handing a potential boost to Republican candidates less than five weeks Continue Reading
OPEC+ Output Cut Sends A Clear Message To The Market
OPEC+ on Wednesday decided to cut output quota by 2 million bpd. Heightened volatility in oil markets has been one of the key reasons for OPEC+ to cut output. A Continue Reading
White House Reacts to OPEC+ Move
U.S. President Joe Biden is disappointed. U.S. President Joe Biden is disappointed by OPEC+’s decision to cut production quotas, according to a White House statement from National Security Advisor Jake Continue Reading
Nigeria: Oil Theft – NNPC Says Illegal Pipeline Operated Off Forcados for Nine Years
The Forcados terminal is operated by Shell. A spokesperson for the company could not be reached as the known phone line did not connect. The Nigerian National Petroleum Company (NNPC) Continue Reading
Nigeria: Fuel Scarcity – Lokoja Flood Cuts Off Tankers Supplying Abuja, Others
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said that the current petrol scarcity in Abuja and other states in the North is caused by flooding in Lokoja, Continue Reading
Lebanon says maritime deal ‘make or break’ after Israel snubs request for changes
Lebanon said U.S.-brokered talks to demarcate its maritime border with longtime foe Israel were at a “make or break” point on Thursday after Israel rejected revisions to a draft deal Continue Reading
AGRICULTURE WEATHER WATCH: Severe rainfall seen affecting Australian wheat quality
Excessive rainfall to impact Australian wheat protein content EU grain production slashed on low yields US weather outlook for key grain regions unfavorable Weather conditions favorable for Brazil corn Australia’s Continue Reading
Mississippi River Drought Imperils Trade on Key US Waterway
A barge travels along the Mississippi River in Memphis, Tennessee, in 2021. Photographer: Houston Cofield/Bloomberg The Mississippi River is a vital US waterway that ferries key commodities between the heart Continue Reading
The U.S. Is Still Energy Independent
Some claim that the United States became energy independent under Trump, and then lost it under Biden. Energy independence is defined as producing more energy than we consume. The United Continue Reading
US DATA: Weekly corn export sales for MY 2022-23 down 125% on week and below market expectations
Highlights US corn less competitive amid logistical issues on the Mississippi River Total commitments for 2022-23 dropped 50% on the year, 42% below the five-year average CIF New Orleans corn Continue Reading
EIA reports largest weekly build into US underground gas storage since 2015
Highlights 129 Bcf injection well above 114 Bcf analyst forecast Deficit to five-year average at nine-month low US natural gas injections totaled 129 Bcf in the week ending Sept. 30, Continue Reading
Musk says Pepsi to receive Tesla’s first Semi trucks in December
Tesla Inc (TSLA.O) is starting Semi electric commercial truck production and PepsiCo Inc will get the first deliveries on Dec. 1, the electric vehicle maker’s chief Elon Musk tweeted on Continue Reading
In Hurricane Ian’s Wake, Insurers and Homeowners Gear Up for Coverage Fights
President Biden praised Floridians’ “grit” in the aftermath of Hurricane Ian during a visit to Fort Myers Beach on Wednesday. He met with Gov. Ron DeSantis and surveyed the damage Continue Reading
Nord Stream investigation finds evidence of detonations, Swedish police say
A crime scene investigation of the Nord Stream 1 and 2 gas pipelines from Russia to Europe found evidence of detonations, strengthening suspicions of “gross sabotage”, Sweden’s Security Service said Continue Reading
France launches energy savings push to avoid winter power cuts
France launched a national energy savings plan on Thursday, banking on a push to turn off lights and lower thermostats to avoid power and gas cuts over the winter. Although Continue Reading
Russian crude exports slide to 12-month low as EU ban, price caps loom
Highlights Turkey becomes Russia’s third-biggest crude buyer Russian exports to Europe fall below 1 million b/d EU sanctions/G7 price cap seen redirecting more flows east Russian crude exports fell to Continue Reading
Paris petrol stations hit as French refinery strike enters tenth day
– Around 10% of petrol stations in the Paris region are having problems getting enough fuel supplies, French government spokesman Olivier Veran said on Friday, as strikes at four TotalEnergies Continue Reading
COVID wave looms in Europe as booster campaign makes slow start
A new COVID-19 wave appears to be brewing in Europe as cooler weather arrives, with public health experts warning that vaccine fatigue and confusion over types of available vaccines will Continue Reading
Russians fleeing war call-up face new stresses on arrival in Kazakhstan
Russian exodus tests limits of neighbours’ hospitality Some 200,000 flee Putin’s mobilisation into Kazakhstan Huge influx provokes concern in Central Asian host country New arrivals have to pay fast-rising rents Continue Reading
Ukraine’s Appeal for Longer-Range Missiles Presents Fresh Test of Biden Administration Support
Flush with recent battlefield successes, Ukrainian officials are pressing their case for acquiring longer-range missiles to strike deeper into Russian-held territory, including Crimea, raising questions about how aggressively the Biden Continue Reading
Russia Claims Natural Gas Could Still Flow Through Nord Stream 2
Russia could restart the supply of natural gas to Germany and its neighbors via an undamaged section of the Nord Stream 2 pipeline, Deputy Prime Minister Alexander Novak told Russian Continue Reading
Italy passes Winter 2022/23 gas-saving measures, restricting domestic heating
Highlights Daily timing, temperature controls Russian gas supply down 40% September gas demand down 24% Italy has trimmed 15 days from its Winter 2022/23 domestic heating season as part of Continue Reading
Oil hovers near three-week highs after OPEC+ agrees to slash crude output
Oil prices stabilized near three-week highs on Thursday after OPEC+ agreed to further tighten global crude supply with a deal to slash production by about 2 million barrel per day, Continue Reading
Oil Extends Rally as OPEC Cuts Output, Russia Mulls Reduction
Russia may temporarily cut production: deputy prime minister Will OPEC+ go big on a production cut? Manus Cranny reports from Vienna. Oil extended its rally after OPEC+ agreed to the Continue Reading