Energy News Beat The U.S. oil and gas rig count continues its decline, with Baker Hughes reporting a drop of 7 rigs to 547 for the week ending June 27, 2025, the lowest since October 2021. Oil rigs fell by 6 to 432, and gas rigs dropped by 2 to 109, with 5 miscellaneous rigs […]
Energy News Beat On June 27, 2025, President Donald J. Trump took to Truth Social to announce a new chapter in the ongoing saga of U.S.-Canada trade relations, signaling a hardline stance on tariffs. “Canada’s been ripping us off for decades on trade. Their steel, aluminum, and energy exports are killing American jobs. We’re negotiating […]
Energy News Beat The 6-month PCE price index accelerated to 2.8% annualized, despite dropping energy prices. It’s been 2.7% to 3.3% in 2025, sharply higher than in the 2nd half of 2024. By Wolf Richter for WOLF STREET. The inflation measure released today for May – the overall PCE price index favored by the Fed as yardstick for […]
Energy News Beat In a recent opinion piece for The Daily Caller, energy expert David Blackmon highlighted a curious phenomenon: despite Israel’s military actions against Iran starting June 12, 2025, the anticipated oil price spike failed to materialize. Instead, the U.S. West Texas Intermediate (WTI) crude price dropped from $68.04 per barrel on June 12 […]
Energy News Beat In this episode of Energy Newsbeat – Conversations in Energy, Stuart Turley and Wasif Latif discuss the impact of geopolitical tensions, particularly the escalation in the Middle East, on the commodities market. They explore the potential effects of supply disruptions, such as a shutdown of the Strait of Hormuz, on oil and […]
Energy News Beat Brazil’s energy landscape is undergoing a significant transformation with the recent commissioning of GNA II, the country’s largest gas-fired thermal plant. This milestone is set to boost Brazil’s natural gas consumption, marking a pivotal moment for the nation’s energy sector and its consumers. The plant, which began commercial operations in June 2025, […]
Energy News Beat The U.S. Department of Energy (DOE) has delayed plans to replenish the Strategic Petroleum Reserve (SPR) by seven months, pushing back significant repurchasing efforts to mid-2025. This setback, driven by rising oil prices and budgetary constraints, raises concerns about the nation’s energy security at a time of global market volatility. Below, we […]
Energy News Beat In a surprising pivot, the UK government has withdrawn its support for the ambitious $34.4 billion Morocco-UK Power Project, a groundbreaking renewable energy initiative that aimed to deliver solar and wind power from Morocco’s Sahara Desert to the UK via a 3,800 km subsea cable. This decision, announced on June 26, 2025, […]
