Gold Pushes Higher as Buying Interest Strengthens

ADNOC Gas, the gas business of the Emirati energy major, will spend more than $8 billion on its Rich Gas Development project, the company said today, as it eyes 60% growth in its earnings before interest, tax, depreciation, and amortization by 2030. The Rich Gas Development project covers several gas production facilities, including the Habshah gas project, which is the UAE’s largest gas processing facility, and the Ruwais LNG project, also in the UAE. Of the total investment, $3.9 billion...

Crude oil prices began this week with a gain following a statement by Iran setting six demands for a peace deal with the United States and claims from the Houthis that they had struck an Aramco refinery in Jazan. At the time of writing, Brent crude was trading at $84.24 per barrel, with West Texas Intermediate changing hands for $78.70 per barrel. Both benchmarks are off their spring peaks but still elevated from pre-war times. Iran said over the weekend that it will only reopen the Strait of...

U.S. President Donald Trump is weighing another suspension of the Jones Act as gasoline prices above $4 a gallon threaten to become a liability for Republicans heading into the midterm elections. The move would again open domestic oil and fuel shipments to cheaper foreign-flagged vessels, extending an emergency waiver Trump imposed after the Iran war sent crude prices sharply higher in March. The problem is that the first waiver barely moved gasoline prices. Shipping costs account for only a...

Europe is currently contending with its third energy crisis in four years against the backdrop of near-constant global geopolitical friction and fracas. The continent’s over-reliance on foreign fossil fuel imports has been thrown into sharp relief in recent months and years as the European Union has struggled to catch its breath and stabilize markets in the vanishingly short time spans between global oil shocks. When Russia invaded Ukraine in February of 2022, Europe as a whole depended on...

To accelerate the global green transition, several energy companies are developing more durable and efficient renewable energy equipment, such as wind turbines and solar panels. This has been hugely successful in recent decades, with the creation of larger, stronger wind turbines and more efficient, resilient solar panels. As companies continue to improve renewable energy equipment and technology, several innovations could significantly help to boost energy production in the coming years....

The U.S. energy system has helped mitigate the shock loss of oil and LNG supply from the Middle East when the Strait of Hormuz closed to traffic and sent refiners and gas importers worldwide scrambling for alternative supply. The record American crude oil production and huge natural gas production and rising LNG exports were decades in the making, during which companies invested billions of dollars every year to increase oil, natural gas, and fuel supply, the American Petroleum Institute (API)...

The months-long closure of the Strait of Hormuz has led to severe fuel shortages around the globe, as companies battle to continue operations. Airlines have been hit hard as they struggle to obtain enough jet fuel to maintain their regular flight schedules. The U.S.-Israeli war on Iran led to the closure of the Strait of Hormuz – a key trade corridor connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea, via which roughly 20 per cent of the world’s oil is transported when fully...

Europe is deepening its ties with North Africa to develop stronger clean energy connections between the two regions in support of a green transition. The European Union and several European countries have invested in Morocco and Egypt in recent years to support renewable energy development in countries with favourable climate conditions for energy production. Over the coming decade, Europe and North Africa are expected to establish a stronger clean energy trade corridor that will help both...

Despite continued hostilities in the Middle East and an expansion of the war to the Red Sea, oil traders have remained largely bearish on the commodity, betting on a quick peace deal-and they might get a nasty shock. Earlier this week, Brent crude sank below $80 per barrel, and WTI dropped below $75, after President Trump said peace talks between the United States and Iran had resumed, even though Iranian officials denied there were any talks in progress. However, Iran is negotiating a deal...

Europe desperately needs an energy storage revolution. As the region gets rocked by the third energy crisis in four years, the continent’s insufficient indigenous energy systems, and backups to those systems, has become abundantly and painfully clear. "We swore we’d learn. We promised things would change but here we are," a ‘highly frustrated European diplomat’ was recently (anonymously) quoted by the BBC in March.  As a result, the continent is now in an incredibly precarious position that...

Elevated US gasoline and electricity prices are seeping into the upcoming midterm elections in November. Candidates are prioritizing consumer affordability over the environment, with Democrats linking gas price increases to President Trump’s foreign policy decisions. Meanwhile, a debate over data center expansion and consumer rate impacts are forcing candidates to address infrastructure investment trade-offs. According to S&P Global Market Intelligence, US residential electricity prices rose 7%...

The bad economic news keeps coming for the Russian economy. An analysis of Russian government data by the business daily Vedomosti shows that the influx of Central Asian labor migrants to Russia fell by roughly 15 percent during the first half of 2026,  deepening an already critical labor shortage in the country. Official entries for work purposes by Central Asian citizens fell to 1.9 million during the first six months of this year, down from 2.3 million the previous year, according to the...