Energy Markets

The state's Department of Mineral Resources announced on Monday that North Dakota's?crude oil output is expected to increase in?August, and continue in the months ahead as drilling activity and crude prices remain robust. According to the most recent data available, the output in the third largest oil producing state in the United States increased marginally by 1,846 bpd to an average of 1,157 million bpd during July. Justin Kringstad told reporters at a monthly briefing that "given activity levels and prices, I suspect August will be a better month than July." Department of Mineral Resources statistics show that the number...

Anita Anand, Canadian Foreign Ministry, said on Monday that Canada and France could form an energy partnership involving liquefied natural gas produced along its Pacific Coast. This comes a day after the leaders of both countries met to discuss energy cooperation. Anand stated that it was "quite possible" for Canada to?execute a partnership in energy with a European nation using LNG imported from Canada's West Coast. In an interview conducted on the sidelines the annual gathering of leaders of the world at the United Nations, she stated that "that goes for France." Emmanuel Macron, the French president, has called for...

The price of diesel has risen to record levels in Europe and the United States as the wars in Iran, Ukraine and Russia have severely cut exports by some?of the?largest producers, such as Russia and Saudi Arabia, and there are few options to stop further gains. The price of diesel futures in Europe reached a record high last week, having more than doubled their value at the start of 2026. This was after supply disruptions reached the Red Sea where Saudi Arabia loads the majority of its diesel. Refineries around the world are working hard to produce fuels, despite the...

QatarEnergy anticipates that the first train of the North Field East (NFE), liquefied gas expansion project will start production during the first half of the year 2027. Additional trains, however, will depend on Strait of Hormuz crises. The disruptions caused by the 'effective closure' of the strait after the US and Israel began their war against Iran could delay a part of the largest LNG expansion project in the world at a moment when Qatar is attempting to replace the volumes lost following attacks on its Ras Laffan Export Hub. Saad Al-Kaabi (CEO of QatarEnergy and Minister of State for...

Capital Power CEO said that Meta's plan to construct a 'C$13 billion data center' in Alberta, Canada, has increased the appeal of the province for hyperscalers, who view it as a vote 'of confidence' in the government AI strategy. Avik Dey said that Capital Power has been in contact with a number of potential project proponents about supplying electricity. He refused to name companies but said that he did not believe Meta would be the only US Hyperscaler to build? a large-scale datacenter in Alberta. Hyperscalers operate large-scale data centers and cloud computing infrastructure to support AI. Canada only has...

Iran warned against a new major attack by the United States or its allies on Sunday, saying it had received information that such an action was in preparation. This added to the tensions already present in a region on edge following drone and missile attacks on Saudi Arabia. Iran's central military command announced on state-run media that any further attack would result in a sustained retaliation, including against US interests and bases. Washington's regional partners would also be considered as parties to the conflict. It did not provide any further details on the information that it claimed to have about...

Iran warned against any new major attack by the United States or its allies, saying that it had received information that such a move was being planned. This added to the tension in the 'a'region, already on edge following drone and missile attacks on Saudi Arabia. Iran's central military command announced on state-run media that any further attack would result in a sustained retaliation, including against US interests and bases. Washington's regional partners would also be considered as parties to the conflict. It did not provide any further details on the information that it claimed to have about an upcoming...

Donald Trump stated on Friday that he is 'engaging with Republican Senate Majority leader John 'Thune about bringing a bill to the floor to protect households from rising electricity costs tied to the expansion data centers. "Well, I am talking to him about that." Trump said to reporters on Friday: "We'll see what happens." Both parties are facing constituents' growing concerns about rising electricity costs due to the industry’s increasing power demand. The Republican-majority House of Representatives passed the Ratepayer Protection Act 417-3 earlier this week. This act would force state utility regulators, to determine whether or not large electricity...

The US factory output unexpectedly dropped in August. Higher oil prices and increasing interest rates may have offset some of the benefits of an artificial intelligence buildout. This will likely keep activity low for the remainder of the year. The Federal Reserve reported on Friday that output had declined after seven consecutive months of growth. US central bank raised interest rates for the first time since three years on Wednesday. It also warned that borrowing costs would continue to rise in the months to come. The oil prices are above $100 per barrel and there is no end to the...

Two officials from the United States Department of Energy said that the United States wants suppliers to speed up development of uranium-enrichment capacity in order to avoid potential'shortages' as interest grows in nuclear energy. Several countries are looking to increase nuclear power, either by building new reactors or reactivating power plants that have been mothballed. This is to meet the rising demand for electricity, which is largely due to artificial intelligence. According to UxC, the industry consultancy, uranium prices have almost tripled in five years due to increased interest. James Danly, U.S. Deputy Energy Secretary, said at a nuclear summit...

Addie, a farmer of corn, soya beans and cattle, uses two combines, 3 semi-trucks, and several tractors to harvest and move her crops in northeast Missouri from mid-September until late October. She said that with diesel prices at an all-time high and only one combine needing 300 gallons, the best thing she could do was to try to cut back on other expenses. Drew Peterson is a farmer in southeast South Dakota who grows soybeans, corn, and cattle. He expects to pay up to $1,500 a day for fuel to run just one of the combines he uses to harvest...

JP Morgan stated on Thursday that they do not have a baseline view of oil markets for the first time since the US-Israeli War on Iran. Analysts at the bank stated that they "simply do not know how to model endgame." The note noted that JP Morgan assumed at the start of the conflict that there would be a few economic thresholds the U.S. government wouldn't cross. However, six months later, these lines had been crossed and no exit strategy was in sight. The bank stated that gasoline is now $4.37 per gallon, and oil has risen above $100 per...

Global stocks rose Monday, as new evidence of booming AI demanded lifted tech shares. Oil fell?on news that more oil was leaving the?Gulf, despite ongoing conflict, than previously believed. The bond market has recovered after a six-week slump in the previous week, amid high interest rates and persistently high oil costs. European debt led the rally. The MSCI All-World Index rose by 1.03% while European shares gained 1.12%. The Nasdaq Composite gained 1.62%, the S&P 500 gained 1.05 % and the Dow Jones Industrial Average rose by 0.49%. Intel gained 13% among chipmakers, Advanced Micro Devices soared 9.2%, becoming the...

On?Monday, Asian share markets rose as AI's demand for data boosted chipmakers. Oil eased on hopes that Saudi Arabia would boost its supply to offset news of the Houthi attack in?Riyadh. The Silver Week holiday in Japan has been a slow one, with little trade. As a result, the dollar remained at 157.00yen on Wednesday. Investors were wary that the Bank of Japan might take advantage of this lack of liquidity and intervene to support its currency. Nikkei reported that the yen rose on Friday, after Japanese authorities checked the rate of the currency market. South Korea's technology-heavy index, the...

Tom Westbrook gives us a look at what the future holds for European and global markets. As expected, the Bank of Japan increased interest rates. However, it lowered the yen's value by sounding less hawkish than other central banks. The 'hike', which comes just three months after the last rate increase, is a significant break from the pattern of twice-yearly increases. Even Friday's decision was dovish, with two dissenting voices. By the middle of next summer, it is expected that US interest rates will increase by three. Two more are expected for Japan. The?newsconference of BOJ Governor Kazuo Ueda will...

High spot prices are deterring buyers from China and South Asia, resulting in Asia's lowest September imports in eight years. According to data compiled by Kpler, the top-importing continent will see arrivals of?20.09 million tons of super-chilled gasoline in September. This is the lowest figure for this month since September 2018 when 19.88 million arrived. Asia's imports have dropped?from 22.27 millions tons in September of last year and also from 22.25 in August. The slump in Asian LNG demand has freed up cargoes to Europe, where it is struggling to store enough natural gas ahead of the winter. The European...

Stella Qiu gives us a look at what the future holds for European and global markets. It turns out that the man?Trump hired for a rate cut actually raised rates instead. Kevin Warsh, the Fed's chief economist, delivered the first rate hike in over three years. He did it in lock-step with his colleagues. Warsh did not provide any forward guidance after the Fed’s last rate decision. He insisted he would not fixate on a single data point. The markets are aware that hikes can be like cockroaches. If you see one there's probably more behind the wall. The dot...

Treasury yields on 10-year U.S. Treasury notes have risen to their highest level in 19 years. This is just as Treasury Sec. Scott Bessent is preparing to speak to Congress, and the Federal Reserve begins its two-day critical meeting. Government bonds sold across the globe overnight as the prospect of rising interest rates and energy prices remained a primary aggravating factor. Japanese 10-year yields rose back to above 3%. Brent crude prices rose above $107 a barrel again on Tuesday after a brief drop on Monday, following President Trump’s suggestion that Russia and Ukraine could reach an agreement to spare...

Asian shares struggled on Tuesday, as investors considered Middle East tensions. Industry figures also called for a halt in AI development. Meanwhile, higher oil prices and bond yields heightened caution ahead of 'key' central bank meetings taking place in the U.S. Yemen's Houthis, who are aligned with Iran, launched a new offensive on Saudi Arabia Monday. Riyadh had blamed Iran-backed fighters based in Iraq for an assault on the east-west oil pipeline of the kingdom that could disrupt up to 4% global supply. Gulf Arab states have also delayed planned talks with Iran. Brent crude was up by 1.21% at...

Singapore, Asia's main fuel trading hub, has seen its oil product stockpiles rise to a two-month high, according to government data released Thursday. The increase in stocks of light and middle distillates was also noted. Enterprise Singapore reported that the combined onshore oil products inventories stood at 40.47 millions barrels for the week ending September 9. This compares to 39.04million barrels one week earlier. Multiple?trade sources this week said that September exports to Asia are expected to remain robust for diesel and jet-fuel, but may slow down for gasoline because of margin concerns. Diesel was the major concern in some...

The energy and bond markets have been on edge again after U.S. president Donald Trump stated that the Iran War would not end before the midterm elections in November. This came as the Gulf was hit with the most intense attacks in the conflict to date. Markets are awaiting the likely rise in interest rates by the European Central Bank and the first U.S. On Thursday, we'll have an update on inflation as Treasury Secretary Scott Bessent appears to have failed with his bond-buyback operation. On Wednesday, crude oil reached its highest price since late May, above $100 per barrel,...

Brent crude climbed to $100 per barrel Wednesday, keeping Asian stock markets calm as the attacks intensified in the Middle East. This stoked inflation fears ahead of closely-watched U.S. consumer price indices. As traders exited their short positions, the yen rose to a near seven-month high against the dollar. This was due to expectations of faster Bank of Japan rate hikes as well as a possible rush of Japanese capital repatriation. The euro climbed ahead of Thursday's European Central Bank policy announcement, as markets were expecting an increase amid inflationary pressures due to the Iran War. Iranian-backed Houthis launched attacks...

China's iron ore imports rose by 0.4% in August compared to a month ago, defying analyst's expectations of a drop, after multiple typhoons hit ports and delayed clearance. Data from the General Administration of Customs revealed on Tuesday that the world's biggest iron ore consumer imported 108.54 metric tons of this key ingredient for steelmaking last month. This is a 3.1% increase from the previous year. Four analysts predicted August ore imports between 107 and 108 millions tons before the release of data. Steven?Yu is a senior analyst with Mysteel. The monthly increase in ore imports could be due to...

Brent crude, the global benchmark for oil prices, has risen this month. However it has remained below $100 per barrel despite the recent escalation of the U.S. - Iran conflict which has caused disruptions in Gulf exports via the Strait of Hormuz or the Red Sea. According to Argus, Crude Oil?shipments are now at 11 million barrels a day (bpd), down from 18 million bpd prior to the Iran War seven months ago. What are the factors that influence oil prices? SIGNIFICANT VOLUMES CAN FLOW?THROUGH HORMIZ Claudio Galimberti, Rystad's Chief Economical Officer, stated that in the week prior to fighting...