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Wealthy Investors Flock To Oil & Gas Assets Amid Energy Crisis

The U.S. and global economies have continued to mint high-net-worth individuals at a historic clip, with wealth intelligence firm Altrata noting that the combined wealth of the world’s billionaires jumped 12.8% Y/Y to a record $15.1 trillion in 2025. The ranks of the “Three Comma Club” hit a record 3,795 people as the AI boom turbocharged wealth creation across the globe. Not surprisingly, tech has been a major driver of new wealth, with tech billionaire wealth tripling over the past decade. However, ultra-high-net-worth investors…

OilPrice.com•Alex Kimani15 Sept

$100 Oil Puts Central Banks Back on Inflation Alert

Crude oil prices have extended their earlier gains into this week, with little chance of reversing course as the war in the Middle East expands and desire for a peaceful resolution seems to wane, as global oil stocks continue shrinking. Inflation is creeping up. Recession fears are back. It may just be a matter of time. Diesel prices in the United States have gained some 60% since late February, the Wall Street Journal reported at the end of last week. It was the same week when diesel prices hit an all-time high of $6 per gallon, sparking those…

OilPrice.com•Irina Slav14 Sept

Global Fuel Squeeze Triggers U.S. Refiners Stocks Rally

Energy stocks have rallied this year as oil prices soared amid the Middle East conflict. The U.S. supermajors ExxonMobil and Chevron have seen their stocks gain about 40% each so far in 2026, but U.S. refiner stocks have outperformed the majors because the global fuel market is much tighter than crude oil markets. The share prices of Phillips 66 (PSX:NYSE), Valero Energy (VLO:NYSE), and Marathon Petroleum (MPC:NYSE) have more than doubled this year, as fuel markets are tightening with more than 7 million barrels per day (bpd) of refined product…

OilPrice.com•Tsvetana Paraskova14 Sept

New MIT Process Could Solve Hydrogen's Biggest Supply Chain Problem

Scientists at MIT have discovered a new way to extract high-purity hydrogen from ammonia while using a lot less energy than previous technologies. The breakthrough could provide a critical inroad toward reducing the energy and ecological footprint of the hydrogen sector, which powers a wide range of industrial processes and technologies from fuel cells to computer chip manufacturing. Green hydrogen has often been touted as a silver-bullet solution for decarbonizing hard-to-abate sectors like the shipping industry and steelmaking, as…

OilPrice.com•Geoffrey Styles14 Sept

Can Utilities Cash In on AI Without Making Consumers Pay?

If GENCO is the answer, then what is the question? Simply put, is GENCO the answer to the question of how the electric industry can get into the AI action without compromising utility finances and disadvantaging the rest of the customers? First, some history. The word GENCO (short for generating company) was applied to independent (unregulated) generators that proliferated like rabbits after deregulation at the turn of the century. A large number of them went bankrupt due to overcapacity, demand below expectations, and too much debt. Since utilities…

OilPrice.com•OilPrice.com14 Sept

Saudi Arabia Discovers 110 Million Tonnes of Uranium-Bearing Ore

Saudi Arabia has discovered 110 million tonnes of uranium-bearing raw material in the Medina region, a potentially significant find as the Kingdom accelerates plans to develop a domestic nuclear energy industry. Saudi Energy Minister Prince Abdulaziz bin Salman announced the discovery on Monday at the International Atomic Energy Agency’s General Conference in Vienna, according to Saudi state television. Geological studies have identified elevated uranium concentrations in the Medina region, while Saudi Arabia is also assessing uranium…

OilPrice.com•Tom Kool14 Sept

The Next Oil Shock Is Never the Last

Here we go again. The Houthis have seized the Yemeni Red Sea coast, the port of Mokha and Perim Island, which divides the narrow Bab el-Mandeb Strait into two channels. The group now occupies positions from which it can monitor or threaten one of the world’s most important shipping routes. Normally, that would be alarming enough. But the Strait of Hormuz on the other side of the Arabian Peninsula is already severely disrupted. Saudi Arabia consequently relied more heavily on its East–West pipeline to move crude from the Gulf to Red…

OilPrice.com•Leon Stille14 Sept

China’s Growing Iran Trade Is Moving Overland Through Central Asia

Central Asian states are facilitating a rail shipment of Chinese goods destined for Iran, according to Uzbek railway officials. The precise contents of the freight train are uncertain. The block train, consisting of 55 container cars, crossed from China’s western Xinjiang Province into Kazakhstan on September 7, according to a report published by the Russian news agency Interfax, citing a statement by Uzbekistan’s freight rail operator. The train will also pass through Uzbekistan and Turkmenistan before completing the 6,000-kilometer…

OilPrice.com•OilPrice.com14 Sept

Dangote Prices Africa's Biggest IPO at $47 Billion

Aliko Dangote launched Africa's largest share sale on Monday, offering 4.1 billion shares of his Nigerian oil refinery at 525 naira each. The offer runs through Oct. 13 and would raise $1.6 billion if fully subscribed, or as much as $2.1 billion if the company exercises its greenshoe option. The sale values the refinery, which processes 700,000 barrels of crude a day, at roughly $47 billion. The refinery has benefited financially from supply disruptions linked to the Iran war, which increased demand for its jet fuel across Africa and Europe. It…

OilPrice.com•Charles Kennedy14 Sept

SpaceX Turns Turbine Maker as Musk Warns of Years-Long Equipment Shortage

Elon Musk recently warned that “turbines are sold out through 2030,” saying SpaceX and Tesla would probably need to make turbine blades and vanes internally. SpaceX is preparing a factory in Bastrop, Texas, to tackle that casting bottleneck, and Musk says bringing production in-house could get gas turbines online up to 18 months sooner. This is where it becomes important to be specific as to which type of turbines he is referring to… POWER Magazine reports that data center operators are pairing industrial boilers with steam turbines…

OilPrice.com•OilPrice.com14 Sept

Chevron Targets Four Continents in New LNG Expansion Drive

Chevron is looking at expanding its natural gas business and opportunities in Argentina, the Mediterranean, Africa, and Australia, as it aims to offer diversified LNG supply to its customers, Freeman Shaheen, President of Global Gas at Chevron, told Reuters on Monday. The energy crisis in the wake of the Middle East conflict that trapped LNG supply from Qatar and the United Arab Emirates (UAE) has prompted buyers to seek diversification and diverse contracting structures. “What we're seeing from this crisis is that it just reinforces the…

OilPrice.com•Michael Kern14 Sept

The U.S.-China AI War Has Kazakhstan Caught in the Crossfire

The United States and China each have initiatives racing to shape the future of artificial intelligence, and Kazakhstan may have to choose a side. As the only country to have joined both the American-led Pax Silica initiative and China's World Artificial Intelligence Cooperation Organization (WAICO), its longstanding multivector foreign policy is coming under new pressure as Washington and Beijing compete for technological influence. The unusual position has drawn scrutiny from Washington as the United States seeks to limit China's influence over…

OilPrice.com•RFE/RL staff14 Sept

Uniper to Sell Gas Pipeline Stake to Meet EU State Aid Conditions

Uniper announced on Monday an agreement to sell its 20% stake in the OPAL gas pipeline as part of the EU’s conditions on state aid that allowed Germany to bail out the German energy giant in 2022. Back then, the German government stepped in to nationalize Uniper to avoid its collapse amid soaring gas prices, with the total bill for the nationalization at about $53 billion. Uniper said today it had signed an agreement to sell its 20% stake in OPAL to hydrogen sector investor Hy24, which will be buying the stake via its Clean Hydrogen Infrastructure…

OilPrice.com•Michael Kern14 Sept

Record Freight Costs Squeeze Russia's Black Sea Crude Exports

Heightened shipping threats from Ukrainian attacks and a shortage of tankers have pushed the freight costs for Russia’s crude oil exports from the Black Sea to record highs. In the week to September 6, the key tanker rate for shipping crude oil on an Aframax from the Black Sea port of Novorossiysk to West India and North China rose for the seventh straight week, by 2.7% and 3.1% from the week prior, respectively, Russian daily Kommersant reported on Monday, citing local pricing indexes. The cost to ship crude to India is now $23.20 per barrel…

OilPrice.com•Charles Kennedy14 Sept

Syria Diesel Prices Jump 40% Triggering Widespread Unrest

Syria raised diesel prices 40% and gasoline prices by as much as 28% on Saturday, and protesters blocked the highway linking Damascus to Aleppo and burned tires along the road to Turkey within 24 hours, the widest unrest since Bashar al-Assad's fall in December 2024. Diesel now costs 175 Syrian pounds a liter and household and industrial gas prices climbed roughly 9%. Protests also broke out in Hama, Khan Sheikhoun and Maarat al-Numan, and crude tanker convoys bound for refineries were halted en route. Syria's Energy Ministry called the increase…

OilPrice.com•Charles Kennedy14 Sept

The Problem With Trying to Bypass Hormuz Using Pipelines

The East-West Pipeline in Saudi Arabia, which delivers oil to the shores of the Red Sea, has been an important workaround to the choking of tanker traffic by Iran in the Strait of Hormuz, the only exit for tankers from the Persian Gulf to the open sea. The Saudi government claims that 7 million barrels per day (mbpd) of crude oil can flow westward through the pipeline to the port of Yanbu, though the current exports are thought to be lower (perhaps 5 mbpd) than that given infrastructure restraints. But now that pipeline has been bombed and put…

OilPrice.com•Kurt Cobb14 Sept

Brent at $108: Gulf States Halt Hormuz Talks as Houthis Strike Saudi Airbase

Gulf states called off Monday's planned meeting with Iran on reopening the Strait of Hormuz the same day Yemen's Houthis fired dozens of missiles and drones at Saudi Arabia's King Khalid airbase in Khamis Mushait, calling it retaliation for more than 300 Saudi airstrikes on Yemen in five days. A Friday drone attack Riyadh blamed on Iran-backed fighters in Iraq knocked out Saudi Arabia's East-West pipeline, the kingdom's only route around the blockaded strait. The 7-million-barrel-a-day line feeds the Red Sea port of Yanbu, with traders telling…

OilPrice.com•Charles Kennedy14 Sept

Soaring Oil Prices Put Fed on Track for September Rate Hike

The recent spike in crude oil prices will likely result in a fresh rate hike by the Fed this week, according to data from CME Group, cited by The National today. As much as 90% of respondents from trading circles expect a rate hike of 25 basis points, after last week, the European Central Bank hiked interest rates by the same amount. “The conflict in the Middle East continues to generate inflation pressures, and inflation is set to remain well above target for an extended period,” the ECB said in its decision. “People are finally…

OilPrice.com•Irina Slav14 Sept

Oman Energy Minister Says Middle East Needs to Diversify LNG Export Routes

The Middle East needs alternative export routes for liquefied natural gas that bypass the Strait of Hormuz, Oman’s Minister of Energy and Minerals said at Gastech today. LNG exports from the Persian Gulf have collapsed since the start of the war between the United States and Israel and Iran. “Let’s identify alternative export options,” Salim Al-Aufi said at the Gastech conference in Thailand, as quoted by Bloomberg. “Be it north or through Oman or through Yemen. Diversify your options to get the resources out of the…

OilPrice.com•Irina Slav14 Sept

Brent Hits $108 as Saudi Pipeline Shutdown Deepens Supply Fears

Brent crude hit $108 per barrel earlier today, following the latest escalation in the Middle East, before retreating to $107.22 per barrel at the time of writing. West Texas Intermediate was trading at $102.66 per barrel. The surge follows the news of a drone attack on Saudi Arabia’s East-West pipeline that could cut off another 4% of global oil supply and signs that efforts at diplomacy are failing. According to unnamed sources quoted by Reuters, Saudi Arabia’s Yanbu port on the Red Sea has only enough oil for five to seven days of…

OilPrice.com•Irina Slav14 Sept