EU Ministers Race to Shield Industry From an Escalating Energy Shock
by Irina Slav
16 Mar 2026 at 8:00am
The European Union is in a rush to find ways to alleviate the energy cost pain for consumers and businesses, with energy ministers of member states set to meet later today to discuss options. These, according to Reuters, include boosting the supply of carbon permits to reduce their price, state support for industrial energy consumers, and tax cuts. The reportedly discussed options suggest European leaders are making a rare move to prioritize energy affordability over emission reduction. The option with greater availability of carbon permits is?

Sinopec Slashes Refining Runs as Hormuz Disruption Squeezes Crude Supply
by Irina Slav
16 Mar 2026 at 6:33am
Sinopec, China?s biggest oil refiner, has reduced its run rates by 10%, Bloomberg reported today, citing unnamed sources, in response to the supply squeeze resulting from the traffic disruption in the Strait of Hormuz. The size of the cut is equal to about half a million barrels daily. There will also be additional output losses from maintenance operations, the sources said. The refining major accounts for about a third of China?s total refined petroleum product output, with an average processing rate of 5.2 million barrels daily, the?

Oil Prices Remain Volatile as Hormuz Tensions Rise
by Josh Owens
16 Mar 2026 at 4:00am
Oil markets remained volatile in early Asian trade on Monday as Trump attempts to form a broader coalition of countries to protect shipping through the Strait of Hormuz amid fresh attacks on energy infrastructure across the Middle East. At the time of writing, West Texas Intermediate had dipped 0.53% to $98.19 after an initial surge, while Brent was continuing its climb, rising 0.41% to $103.60 per barrel. The volatility follows a weekend of escalation in the Middle East conflict, beginning on Friday evening when the U.S. bombed military assets?

Middle East Crisis Could Triple Pakistan?s Oil Import Bill
by Alex Kimani
15 Mar 2026 at 11:00pm
Previously, we reported that Pakistan could find itself sucked into the Middle East war thanks to the Strategic Mutual Defence Agreement (SMDA) it signed with Saudi Arabia in September 2025. The core of the agreement states that any aggression against one country is considered an aggression against both, potentially requiring Pakistan to intervene against Iran?s missile strikes on Saudi Arabia. However, military confrontation with its southerly neighbor might turn out to be a less existential threat for Pakistan. Surging oil prices are already?

Asia?s LNG Lifeline Takes a Hit
by Irina Slav
15 Mar 2026 at 9:00pm
Asia is the biggest market for liquefied natural gas. Asia is also the destination of up to 90% of Qatari and Emirati LNG?or was, until this month. With the shutdown of Qatar?s Ras Laffan LNG complex and the Strait of Hormuz traffic disruption, Asia is facing a lot of energy supply pain. QatarEnergy announced a complete halt to LNG production after Iranian drone strikes hit facilities at Ras Laffan Industrial City and Mesaieed Industrial City on March 2. A force majeure declaration followed on QatarEnergy exports. The move started a?

How the Iran War Could Reshape Global Energy Policy
by Felicity Bradstock
15 Mar 2026 at 7:00pm
The U.S.-Israeli attack on Iran and the ongoing conflict in the Middle East have caused the biggest oil disruption in history. The closure of a major transit route between Asia and Europe, as well as restrictions on fossil fuel production in the region, have driven oil and gas prices up, a trend that is set to continue. So, as governments are facing rising consumer energy bills once again, will it be enough to encourage a Covid-era pivot to renewable energy? The U.S. war against Iran has caused the largest oil disruption in history, according to?

U.S. Intervention in Venezuela Could Help Solve Colombia?s Energy Crisis
by Matthew Smith
15 Mar 2026 at 5:00pm
Colombia?s natural gas production is spiraling ever lower, with the hydrocarbon sector impacted by tax hikes and leftist President Gustavo Petro?s reforms aimed at weaning the country off its dependence on fossil fuels. This forced Bogota to significantly boost costly liquified petroleum gas (LPG) imports to meet domestic demand and ensure the stability of Colombia's electricity grid. Those imports are straining government finances and the economy at a time of fiscal crisis. Nonetheless, U.S. President Donald Trump?s intervention?

Saudi Arabia?s Dream of a Futuristic Mega-City Collides With Reality
by Felicity Bradstock
15 Mar 2026 at 3:00pm
Since Saudi Arabia announced plans to develop its Neom mega-project in 2017, it has been widely criticised by architects, engineers, and energy experts for being unattainable. Nevertheless, the Kingdom marched on, commencing works on several parts of its mega-city, including The Line (a 170-km linear city), Oxagon (floating industrial hub), Trojena (mountain ski resort), and Sindalah (luxury island). However, as projected construction costs have risen again and again, and several challenges have arisen, the government has finally decided to scrap?

Futures Market Misreads the Hormuz Oil Shock
by Tsvetana Paraskova
14 Mar 2026 at 11:00pm
The oil futures paper market is likely underestimating the massive supply disruption that a closed Strait of Hormuz is creating in physical crude and fuel supply globally. Crude futures prices briefly spiked early this week to $119 per barrel, before retreating to the $90s and trading at $100 a barrel early on Friday in Asian trade. However, the premium of physical Dubai crude has surged to $38 per barrel over its paper equivalent, according to data compiled by Reuters columnist Clyde Russell. The wide gap between paper and physical prices suggests?

How History Keeps the U.S. and Iran on a Collision Course
by James Durso
14 Mar 2026 at 9:00pm
The United States and Iran are fighting not just because of their differences, but also because of their similarities. Both countries see themselves as exceptional civilizations shaped by religion and sustained by a sense of victimhood. Each believes it has been repeatedly wronged by the other and is therefore acting defensively. This mutual narrative has become one of the most powerful forces shaping U.S.?Iran relations. Both nations interpret the relationship through different historical starting points. Because their memories of the conflict?

Jet Fuel Prices Soar as War in Iran Ripples Through Global Aviation
by Felicity Bradstock
14 Mar 2026 at 7:00pm
As the war in Iran spills over into other parts of the Middle East, energy experts expect the price of several oil and gas products to soar over the coming months, driven by shortages. This will likely affect flight prices, with several airlines warning of anticipated price hikes. It could lead to a travel slump, as consumers wait for prices to fall again. Australia?s Qantas Airways, Scandinavia?s SAS, and Air New Zealand are three of the airlines to have already announced airfare hikes in response to the ongoing conflict in the Middle?

Zimbabwe?s Surprise Lithium Ban Scrambles Global Battery Supply Chains
by Haley Zaremba
14 Mar 2026 at 5:00pm
This week, Zimbabwe took a historic step to protect its own value chains from external exploitation by fast-tracking a ban on raw lithium exports, effective until further notice ? and the impacts have been widespread both domestically and abroad. The February 25 ban was immediate and unexpected, as were its impacts on global battery supply chains and local mining operations.  Originally, the export ban was planned for January 2027, with the intent of incentivizing the local processing and refining of lithium instead of leaving value?

Trump?s Alaska Energy Revival Hits a Wall as Auction Draws Zero Bids
by Felicity Bradstock
14 Mar 2026 at 3:00pm
Since coming into power in January 2025, United States President Trump has pursued an energy policy centred around fossil fuels. As part of his plan to expand U.S. oil and gas production, Trump has made it easier to attain licences to dig for fossil fuels on federal land and has reopened several regions to exploration. One such region is Alaska, where new exploration had previously been restricted due to environmental concerns. However, during the recent sale of oil and gas leases in Alaska, there was little interest in the region, suggesting that?

Trump Bombs Iran?s Kharg Island and Threatens to Hit Oil Exports
by Tom Kool
13 Mar 2026 at 11:28pm
U.S. President Donald Trump said American forces had launched a major bombing raid on Iran?s strategic Kharg Island, targeting military facilities on the key Persian Gulf outpost while warning Tehran that its vital oil infrastructure could be destroyed if shipping in the Strait of Hormuz is disrupted. In a social media statement, Trump said that at his direction the United States Central Command carried out ?one of the most powerful bombing raids in the history of the Middle East,? claiming U.S. forces had ?totally obliterated?

Big Tech's Push to Make Electricity Cheaper
by Haley Zaremba
13 Mar 2026 at 11:00pm
A new coalition of tech firms, including Google and Tesla, is banding together to address the growing issue of energy affordability in the United States. The AI boom is pushing energy grids around the country to the max, and skyrocketing energy demand from the data centers that power large language models is causing energy prices to soar. Until now, consumers have had to pay the price for Big Tech?s AI ambitions, but the coalition ? called Utilize ? is pledging to lower energy prices across the board by optimizing grid utilization.?