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Oil Pulls Back as Trump Claims Lebanon Ceasefire Deal Is Within Reach
The oil price rally lost steam after President Donald Trump’s diplomatic efforts to de-escalate tensions in Lebanon calmed commodity markets, pushing global oil prices lower and allowing crude to ease from earlier multi-week highs. Brent crude for August delivery was down 1.7% to
$90 Oil Could Lift India’s Inflation to 4.8% and Slow GDP Growth
India’s inflation is set to accelerate to 4.8% in the fiscal year 2027, if oil prices average $90 per barrel through March next year, Indian wealth and asset manager 360 ONE Capital said in a report on Tuesday. “Our revised base case assumes de-escalation by mid-June, with crude
China’s LNG Imports Recover Ahead of Peak Cooling Season
China imported 4.9 million tons of liquefied natural gas last month, a slight increase on an annual basis, Bloomberg reported today, citing shipping data. The rebound comes ahead of a likely jump in electricity demand over the summer as air-conditioning demand rises. The May figu
Strike Action at Major Australian LNG Facility Raises Supply Concerns
Union workers at the Ichthys LNG project in Australia have started limited industrial action at the facility, threatening broader work suspension unless the wage dispute with employers is resolved soon. The Offshore Alliance, a coalition of two trade unions, last month notified J
Goldman Sachs Sees Strong Refining Profits Through 2026 Amid Fuel Supply Crunch
Tighter petroleum product supply resulting from the Strait of Hormuz crisis will keep refining margins significantly higher throughout 2026, Goldman Sachs has forecast, with diesel margins especially elevated, Reuters reported. The war in the Middle East has pushed refiners’ marg
Persian Gulf Oil Tanker Traffic May Never Fully Recover
Oil and gas traffic via the Strait of Hormuz may never go back to pre-war levels if Iran cements its hold over the chokepoint. The warnings come from several unrelated sources as the war continues to drag on, with some recovery in traffic but nowhere near pre-February 28 levels.
Guyana Emerges as an Oil Winner in the Iran War
In just seven years, Guyana has become one of the fastest-growing oil exporters and global economies and an oil-producing powerhouse with nearly 1 million barrels per day of production capacity. And the war in Iran is only turning up the heat even more. Since ExxonMobil launched
There's Enough Hydrogen Underground to Power Earth for 170,000 Years
Green hydrogen has been hyped as a silver bullet solution to decarbonize hard-to-abate sectors like steelmaking and industrial shipping for decades now. It can be combusted at high heats like fossil fuels, but leaves behind nothing but water vapor when it burns, rather than world