Oil Jumps Nearly 4% as Houthis Threaten Red Sea Blockade

Kazakhstan should, in theory, be one of the major beneficiaries of Russia’s growing isolation from global energy markets. Its crude is unsanctioned and European refiners need alternatives to Russian barrels. Yet instead of gaining a clear geopolitical advantage, Kazakhstan has found itself exposed to many of the same risks as its northern neighbour: attacks on export infrastructure, disruptions inside Russia and repeated operational failures at its own largest fields. The roots of that...

There is major potential to develop hybrid renewable energy projects on existing hydropower sites, according to a new report by the think tank Ember Energy. We often think of renewable energy projects as standalone operations rather than resources that can be combined to produce higher clean energy output. However, there could be great potential for hybrid projects, as energy companies look to maximise and stabilise their energy production. According to a report published this week by Ember, 25...

India expects to build domestically five small modular reactors (SMRs) by 2033, India’s Atomic Energy Minister, Jitendra Singh, has said. The five SMRs would be part of India’s push to accelerate nuclear power capacity installations over the next two decades, the minister told lawmakers in a written reply to questions as carried by local media. The Bhabha Atomic Research Centre (BARC), India’s premier nuclear research facility under the Department of Atomic Energy, is currently developing a...

Brent crude has broken back above $100 a barrel for the first time in nearly two months as escalating attacks on commercial shipping in the Red Sea deepen concerns that the Middle East supply crisis is spreading beyond the Strait of Hormuz. As of mid-morning Thursday, front-month Brent for September delivery was trading at $100.69 a barrel, up more than 7% on the day after touching an intraday high of $101.01. WTI was also sharply higher, with the entire Brent forward curve moving higher as...

The last EU agreement about the latest sanctions package against Russia is being presented by Brussels as another demonstration of European unity and determination to sustain economic pressure on the Kremlin. Since February 2022, sanctions have been one of the EU's principal strategic instruments, targeting Russian banking, technology, defense industries and increasingly Russia’s energy sector. However, the negotiations surrounding the latest package have now revealed that Europe continues to...

India is on track to export the highest volume of refined petroleum products in months as refining margins have jumped with the re-escalation of the Middle East conflict. India is estimated to ship as many as 1.55 million barrels per day (bpd) of light and middle distillates in July, per data by commodity analysts Kpler cited by Reuters columnist Clyde Russell. The July volumes would be nearly double the fuel export volumes of just 866,000 bpd in May, when the Strait of Hormuz crisis hit crude...

The war in the Middle East has diminished the negotiating power that key regional LNG exporters Qatar and the United Arab Emirates (UAE) have enjoyed for years. Importers of LNG from Europe to Asia plan to negotiate better terms in future long-term deals and ask for lower prices and higher contract flexibility, industry executives at LNG importing companies have told Reuters. For years, Qatar and the UAE commanded significant negotiating power, tied to their reliability as LNG suppliers. The...

Oil has finally become everyone else’s problem. After days in which crude prices climbed while equities, bond markets and currencies remained relatively composed, Thursday brought the first convincing signs that investors are beginning to treat higher energy prices as a broader macroeconomic threat. Brent crude surged toward $100 and WTI broke above $90, while Treasury […] The post Dollar and Yield Surge as Brent Near $100 Sparks Broader Market Repricing appeared first on ActionForex.

Two China-owned and operated tankers loaded with Saudi crude continued on Thursday to travel in the Red Sea toward the Bab el-Mandeb Strait despite the overnight Houthi attacks on Saudi vessels, ship-tracking data monitored by Bloomberg showed. The Cosco Shipping-operated tankers, the Xin Long Yang and the Cosnew Lake, are openly broadcasting their Chinese destination as they are traveling through the Red Sea approaching Bab el-Mandeb. Both China-owned tankers had loaded Saudi crude at Yanbu...

TotalEnergies’ (TTE:NYSE) adjusted net income jumped by 68% from a year earlier to $6 billion for the second quarter of 2026 as the jump in oil prices and refining margins boosted earnings and cash flows. The French supermajor on Thursday reported an adjusted net income of $6 billion, which met analyst expectations and rose by 12% from the first quarter and by 68% from the $3.578 billion for the second quarter of 2025. TotalEnergies attributed the increase to the high-price environment and the...

Oil prices rose for the fifth consecutive day early on Thursday, topping $98 per barrel to the highest level in nearly two months, as Houthi attacks on tankers on the Red Sea route intensified concerns about supply from the Middle East.  Early on Thursday in Europe, Brent Crude prices passed $98 per barrel, rising by 4.21% to $98.03. The U.S. benchmark, WTI Crude, was nearing the $90 per barrel mark, trading at $89.57, up by 3.16% on the day, as the Iran-aligned Houthis appeared to make good on...

The European Union will exempt Greek Dynagas from the latest sanctions package for Russia after pressure from the Greek government, which said the package would harm the country’s economy. The package, set to be voted on today, includes a ban on LNG shipments to third countries and a total ban on LNG purchases by EU entities. However, with several EU member states now complaining about the adverse effects of these sanctions on their economies, Brussels has been placed in a position to negotiate...