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Iran and Oman Near Landmark Deal to Manage Strait of Hormuz
Iran and Oman are close to agreeing on joint management of the Strait of Hormuz, media have reported...
Shell Maintains Bumper Buyback as Profit Surges
Shell has said it will continue its bumper share buyback programme after revealing the Iran war’s effect on oil prices and trading volumes helped it book a near-record profit. The Anglo-Dutch giant’s ...
Iran Says Two Oil Tankers Ditched Attempt to Transit Hormuz
Two oil tankers that had attempted to transit the Strait of Hormuz with U.S. support via the southern lane close to Oman have turned back after one of them caught fire, Iran’s Islamic Revolutionary Gu ...
China’s Coal Prices Surge as Scorching Heat Drives Power Demand
Coal demand and prices in China have jumped in recent days as scorching heat waves across most of the country boost electricity demand. The benchmark spot coal prices at the port of Qinhuangdao have e ...
Shell Reports $9.8 Billion in Adjusted Earnings as Energy Prices Surge
Shell (SHEL:NYSE) more than doubled its second-quarter earnings from a year earlier, as higher oil and gas prices, record refinery utilization, and strong trading boosted profits to above analyst expe ...
Qatar Sends First LNG Cargo Through Hormuz Since Tanker Attack
QatarEnergy has successfully sent an LNG cargo via the Strait of Hormuz, three weeks after one of its LNG carriers was struck in the waterway, Bloomberg has reported, noting that the vessel had idled ...
Japan Buys Rare Canadian Oil Cargo
Japan’s biggest refiner, Eneos, has bought a rare cargo of Canadian crude as the country seeks to diversify away from Middle Eastern crude. This is the first Canadian oil shipment bought by a Japanese ...
Investors Are Racing to Find America's Next Rare Earth Winner
The Pentagon’s investment in MP Materials marked the biggest U.S. intervention in the rare earth industry in decades. The deal established a domestic champion for one of the world’s most strategically ...
U.S. Backs Madagascar’s Rare Earths Project
The Trump administration has opened another front in the global rare earths race, backing a new project in Madagascar as Washington accelerates efforts to break China’s grip on the critical minerals t ...
Trump Administration Picks Five States for Nuclear Fuel-Cycle Hubs
The U.S. Department of Energy has picked five states led by Republican governors to potentially host nuclear fuel waste in exchange for billions of dollars of support to advance manufacturing in the f ...
Guyana’s Oil Boom Matters More Than Ever
In a surprise development, the tiny South American nation of Guyana recently emerged as a major oil exporter. In a mere four years, the former British colony of one million went from first discovery t ...
Glencore Sees $3.3 Billion Trading Profit as Iran War Rattles Oil Markets
Commodity producing and trading giant Glencore expects to post a profit of $3.3 billion in its marketing division for the first half of the year, as extreme market volatility during the Iran war gener ...
Middle East Turmoil and the AI Boom Fuel Windfall for Mining Giants
Rio Tinto and Glencore have posted near-record updates thanks to this year’s sky-high commodity prices and the uncertainty wrought by the Middle East conflict. Mining juggernaut Rio Tinto notched a 43 ...