IEA Global Oil Inventories Show 1.8 Million Bpd Deficit
USO fell 1.53% as the IEA slashed its 2026 oil supply forecast, warning global inventories are draining fast amid a prolonged Strait of Hormuz standoff.
Jake Fox3 min read
World News
Jake Fox3 min read
Trump Puts 81 Million Gulf Acres Up for Oil and Gas Lease Sale
A record 81 million acre Gulf of Mexico lease sale drew almost no bidder interest, even as oil prices stay elevated amid the Iran conflict and shifting supply dynamics.
Edward Byrd3 min read
Norway's $2 Trillion Wealth Fund Posts Record H1 Profit
Norway's $2 trillion wealth fund just posted a record $185 billion profit, fueled by Asian tech stocks. Here's how Nvidia, Apple and Microsoft factor into the numbers.
Edward Byrd3 min read
Red Sea Tanker Traffic Falls to Multi Month Low After Houthi Threats
Crude oil ETF USO climbed 1.34% as red sea tanker traffic hit a multi-month low amid Houthi attacks on Saudi oil infrastructure, forcing tankers to reroute or go dark near…
Jake Fox3 min read
Russian Crude Exports Fall to Lowest Level Since May
Crude oil fund USO climbed 1.34% as Russian seaborne exports hit their lowest since May. Port strikes, refinery repairs, and tanker shortages are squeezing Black Sea and Baltic loadings alike.
Holly Herrera4 min read
India Remains Dependent on Imports for 90% of Oil Needs
India's dependence on crude oil imports sits at 90%, even as overall energy import reliance eases. Here's why the gap persists and what it means for oil markets.
Holly Herrera3 min read
Ukraine Drone Attack Hits Major Oil Refinery Deep Inside Russia
A fresh Ukrainian drone strike hit Russia's Orsk refinery, deepening a months long campaign against Moscow's fuel industry amid ongoing gasoline and diesel shortages.
Jake Fox2 min read
Hormuz Tanker Traffic Falls to Two Month Low Amid Escalating Attacks
Oil prices surged as tanker traffic through the Strait of Hormuz hit a two month low, with a VLCC turning back under threat and analysts calling it the most dangerous…
Edward Byrd3 min read
Oil Price Rally Boosts Glencore's First Half Profit
Glencore's first half profit swung to 4.4 billion dollars as an oil price rally and market chaos supercharged its trading desk. Here's what the numbers mean for GLCNF shares now.
James Stephens3 min read
India Hopes to Take Over Venezuelan Oil Fields From PDVSA
Crude oil jumped 6.73% on Monday, with the United States Oil Fund (USO) closing at 125.92 dollars, as fresh developments around Venezuelan production and shifting Asian demand patterns reshaped the…
Edward Byrd1 min read
Ukrainian Drone Strikes Kill 12 in Attack on Russian Refining Hub
A Ukrainian drone strike on Tatarstan killed 12 and hit one of Russia's most advanced oil refineries, deepening a fuel crisis already squeezed by months of attacks.
Holly Herrera2 min read
Europe Gas Storage Falls to Lowest Level Since 2011
European gas storage sits at its lowest August level since 2011, and with LNG flows squeezed by the Middle East crisis, winter prices look primed to spike on both sides…
Edward Byrd3 min read
Chinese Oil Company Launches World First 16MW Floating Wind Turbine
A Chinese oil company just linked the world's first 16 megawatt floating wind turbine to one of its offshore oilfields, pairing renewable power with conventional drilling in the South China…
Holly Herrera3 min read
IMF Downgrades Global Growth Forecast To 3% Amid Iran War
The IMF now sees global growth slowing to 3% in 2026 as an oil price spike tied to the Iran war overshadows gains from the AI investment boom, hitting Europe…
James Stephens2 min read
Global Nuclear Power Capacity Set to Rise 44% by 2036
Global nuclear power capacity is set to jump 44 percent by 2036 as China overtakes the US and India commits over $200 billion to a massive nuclear buildout.
James Stephens3 min read
Russia Bans Diesel Exports After Ukraine Attacks on Refineries
Russia bans diesel exports after Ukrainian drone strikes cripple its refineries, forcing fuel imports from India while crude markets weigh the fallout for global oil supply.
Holly Herrera3 min read
India Plans Five Small Modular Reactors by 2033
India plans five homegrown small modular reactors by 2033, a bet that could reshape global uranium demand as state utility NTPC hunts for fuel supply abroad.
James Stephens3 min read
Japan Trade Chief Warns Strait of Hormuz Closure as Tensions Rise
Crude climbs as shippers abandon the Strait of Hormuz over renewed danger, forcing Japan to tap emergency reserves and hunt for oil far from its usual Middle East suppliers.
Jake Fox3 min read
OPEC Lowers Oil Demand Forecast Again as Hormuz Fears Ease
OPEC just cut its oil demand forecast for the third month running, even as Gulf producers ramp output back up. Here is what that tug of war means for crude…
James Stephens3 min read
Oil Prices Surge 4% as Iran Tensions With US Reignite Supply Fears
Oil prices surge as Iran tensions widen after weekend U.S. strikes and Iranian missile attacks on five Gulf allies. Here's what's driving the crude rally and where it could go…
Edward Byrd3 min read
Hormuz Tanker Traffic Grinds to a Halt Amid US Iran Tensions
Hormuz tanker traffic has nearly stopped as Iran and the US trade strikes again, reversing weeks of recovering shipping and sending oil prices swinging. Here's what the data shows.
Holly Herrera3 min read
Resource Curse Explains Economic Struggles in Resource Rich Nations
Crude oil's 3% surge revives an old economic warning: nations built on a single resource, from Angola to Saudi Arabia, face a curse that diversification alone can break.
Jake Fox3 min read
Oil Prices Jump on Renewed US Iran Hostilities
USO jumped over 4% as President Trump declared the Iran ceasefire dead and Tehran threatened to close the Strait of Hormuz, a chokepoint for a fifth of world oil supply.
Jake Fox3 min read
Oil Prices Jump on Renewed US Iran Hostilities
Oil prices jump on renewed US Iran hostilities as strikes near the Strait of Hormuz shake markets. USO surges 4.38% as traders reassess supply risk and short positioning.
Jake Fox3 min read