Energy
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Oil developer Sentinel just got the U.S. and Japan to fund a deepwater terminal near Texas—but it won’t put a dent in spiraling prices until 2028
U.S. petroleum exports are rising to record highs amid the Iran war, and now a little-known developer will build a large oil-shipping hub deep in the middle of the Gulf of Mexico—but only with funding from the Trump administration and Japan. The unusual government investment for Sentinel Midstream’s multibillion-dollar Texas GulfLink deepwater terminal is a
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Cargo ship crews face attacks waiting the Gulf as Trump pauses two-day-old project to ‘guide’ ships
With hundreds of vessels still stuck in the Persian Gulf and costs piling up, shipping companies are being whipsawed by uncertainty over how and when the Strait of Hormuz might reopen more than two months into the Iran war. On Sunday, President Donald Trump announced “Project Freedom,” a way for the U.S. to “guide” ships
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You’re paying 50% more for gas than you did before Trump went to war in Iran
The price of a gallon of regular gasoline climbed 31 cents in the past week, spiking to an average of $4.48 per gallon Tuesday, according to AAA, hitting the wallets of drivers after rising 50% since the war with Iran began. The main reason drivers are paying more at the pump is because of the
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Europe’s jet fuel supplies should fall below the key 23-day shortage threshold in June, so plan your travel accordingly
Europe is weeks away from crossing a critical threshold that represents a severe and immediate shortage of jet fuel, triggering many more flight cancelations and even the possible closures of smaller airports. A new Goldman Sachs research report estimates that Europe’s commercial jet fuel inventories are slated to dip below the International Energy Agency’s critical
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Top U.S. oil producer declares ‘green’ light on drilling for more oil amid Iran war
A top oil and gas producer in West Texas’ booming Permian Basin declared a “green” light for the reluctant U.S. energy sector to start churning out more volumes amid the ongoing Iran war and sky-high crude prices. Midland, Texas-based Diamondback Energy—the third-largest Permian player after Exxon Mobil and Chevron—said it is adding both fracking (hydraulic
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‘You could say the ceasefire has ceased’: Iran is back on Wall Street’s radar as oil prices spike 6%
The truce between Iran and the U.S. that has been fraying over the last four weeks finally showed its first real tears on Monday. President Donald Trump said Sunday that the U.S. would help ships get out of the Strait of Hormuz in an effort he called Project Freedom, challenging Iran’s control over the waterway.
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Enbridge aims to help North America win from the AI boom and the Iran war as the FedEx of energy delivery
Call it the FedEx of energy. Calgary-based Enbridge has grown into the largest oil and gas pipeline company in the world by market cap—$120 billion—delivering vital energy supplies across the globe. Just don’t simplify Enbridge to only putting pipe in the ground. With assets that span renewables to utilities, Enbridge boasts a broad array of
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Markets on alert as Trump vows ‘Project Freedom’ for Hormuz, setting up potential showdown after renewed attacks on ships
Financial markets were muted on Sunday as investors were reluctant to bite on the latest well-timed social media post from President Donald Trump about Iran. Futures tied to the Dow Jones industrial average rose 84 points, or 0.17%. S&P 500 futures were up 0.11%, and Nasdaq futures added 0.06%. U.S. oil futures dipped 0.77% to $101.16 a barrel, and
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The clock is ticking as oil markets barrel toward nightmare scenarios with the West bracing for ‘tank bottoms’ and Iran racing to delay ‘tank tops’
The West and Iran are staring down two diametrically opposed oil market emergencies that could materialize in a matter of weeks. With the Strait of Hormuz still largely closed more than two months after the U.S. and Israel launched their war against Iran, oil inventories among top consuming countries are rapidly disappearing. Frederic Lasserre, head
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Iran juggles oil cuts and storage strain to resist U.S. blockade
As the US naval blockade in the Strait of Hormuz tightens around Iran’s oil trade, exports have plunged in recent weeks and storage is rapidly filling. Already, the country has begun curbing production, according to a senior Iranian official. But there’s a crucial caveat Washington may be underestimating: Tehran has decades of experience preparing for