Trump Claims Iran Clearing Hormuz Sea Mines
US President Donald Trump says Iran is "removing" all sea mines in the Strait of Hormuz
Energy Prices Slide 8‑12% Across Oil and Gas
Crude oil, refined products, natural gas down 8%-12% (yeah, yeah, I hear you: nothing is moving yet, and in the physical market diffs remain sky high, and so on and so forth...)
Energy Crises Won’t Stall U.S. Power Anymore
Spot on from @JasonBordoff: "... Others should prepare for a world in which energy crises are less of a brake on American power than they once were..." https://t.co/Tq7YESRGHV
Europe Regrets Closing Refineries; Demand Must Precede Supply
Several European governments are now learning — the hard way — why letting most of their national oil refining capacity to close was, how to put it, a bit of a mistake. (Another example of why shapping demand first, rather...
Asia Reassesses LNG, Boosting Coal and Renewables
The future of LNG in Asia. Effectively, "fool me once, shame on you; fool me twice, shame on me." After the oil price shock of 2022 and 2026, the region is going to re-consider LNG to the benefit of coal...
China’s Crude Stockpiling Proved Prudent, Says Column
Last year, the oil market was preoccupied with a question: why China was stockpiling so much crude. I wrote an @Opinion column about it in Sept, and re-reading it ⤵️ now, I must admit that all makes sense: Beijing was...
China Sets Record Coal Output, Exceeds U.S. Annual Use
China's coal production reached in March its highest ever monthly level, according to official data. Beijing said it digged 440.62 million metric tons last month, up a tiny bit from the old peak of 440.58m a year ago. (For context, that's more...
Iran's Job and Inflation Data Drive Oil Analysis
The key known unknown (to me) to analyse oil is the true state of the Iranian economy: jobs and inflation. I hear lots of tales, but I have little confidence on any. Reporting from inside Iran is extremely difficult. Economic damage...
Coal Demand Chart Misleads by Excluding China
I do love when green campaigners produce a chart about coal demand trends with a tiny little footnote: (excludes China)
Stuck in US‑Iran Standoff: No Fighting, No Peace, No Oil
At risk of repeating myself, still in the "no-fighting, not-peace, and (certainly) no-oil" phase of the US-Iran war.
China Sets Record March Coal Power Output Amid Geopolitical Tensions
China posted a 4.4% y-on-y increase in coal-fired electricity generation in March (thermal generation). The data point is the highest ever seasonal (for a March month) coal-fired power generation. China can -- and it is -- doing an enormous flex in...
Europe’s Gas‑electricity Crisis Effectively over, Easing ECB/BoE Worries
For Europe, the energy “crisis” in natural gas and electricity is, essentially, over. Sure, it can re-start if the ceasefire collapses, and Iran were to attack Qatar. But as now, it’s gone. And, let’s be clear, it was never a threat to...
Iranian Oil Return Could Shift Energy Markets Soon
If the US and Iran reach a deal — a big if — it’s fair to assume Tehran gets sanctions relief. If that includes oil sales — another big, although likely, if — then in a few months the energy...
European Physical Oil Market Shows Tentative Easing, Brent Below $120
Tentative signs -- with a lot of emphasis on tentative-- of easing in the European physical oil market. Dated Brent is falling below $120, and lots of offer today on the key trading window (compared to overwhelming bids in...
European Wholesale Power Stabilizes at Pre‑war Levels
European wholesale power is back to pre-war levels. Germany 1-year forward is at ~€88 per MWh, almost at par with the 2025 annual average of €87.3 per MWh. French and Great Britain power prices have given up most of the gains...