https://oilprice.com/rss/main All the latest in Oil, Gas, Commodity news and analysis Tue, 20 Oct 2026 01:28:47 -0500 https://oilprice.com/Latest-Energy-News/World-News/Brent-Tops-110-as-Tanker-Attacks-Threaten-Persian-Gulf-Supply.html oilprice-news-45817 Crude oil prices extended their climb today, with Brent topping $110 per barrel again earlier in the day, and WTI back at over $100, as traders turn increasingly pessimistic about the resumption of normal oil flows out of the Persian Gulf. At the time of writing, Brent crude was trading at $109.68 per barrel, with West Texas Intermediate at $98.55 per barrel. Brent crude is trading at its highest in five months. The price trend follows reports of intensive tanker attacks in the Strait of Hormuz, which have severely affected oil flows, according… Mon, 19 Oct 2026 23:56:06 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Irina Slav https://oilprice.com/Energy/Energy-General/Robot-Wars-How-China-Has-the-Robotics-Industry-in-Its-Grip.html oilprice-article-45811 Last year, China started requiring export licenses for rare earth magnets. Within weeks, Elon Musk was telling investors that production of Tesla's Optimus robot had been affected.  That's because every humanoid robot needs up to 4.5 kilos of rare earth magnets to move, and China makes more than 90% of the world's supply.  It's exactly the problem REalloys (NASDAQ: ALOY) has been building to help solve. The company is putting together a rare earth supply chain outside of China, from processing in Saskatchewan to metal-making in Ohio.… Mon, 19 Oct 2026 19:41:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Michael Scott https://oilprice.com/Energy/Energy-General/UK-Pays-Record-Sums-to-Balance-Grid-as-Transmission-Falls-Behind.html oilprice-article-45817 The UK is among the most ambitious states when it comes to a transition to a net-zero economy. Also, the UK is struggling with some of the highest electricity prices in Europe—and is paying significant sums to maintain grid balance, even when its wind installations are generating plenty of electricity. Normally, the cost of maintaining a balanced grid, meaning stable and secure supply of electricity, is the highest when the weather affects alternative energy sources. In winter, for instance, solar panels do not generate as much as they do… Mon, 19 Oct 2026 17:00:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Irina Slav https://oilprice.com/Energy/Energy-General/Why-Invading-Iran-Could-Become-Americas-Biggest-Military-Mistake.html oilprice-article-45816 The ghosts of Baghdad and Kabul should be enough to silence any talk of sending American troops into Iran. Yet here we are, more than seven months into a war that began on 28 February with U.S.-Israeli strikes that killed Supreme Leader Ali Khamenei, and voices in Washington and Tel Aviv are again whispering that only boots on the ground can finish the job. Plans to seize Kharg Island, Iran’s main oil export terminal, or push inland to seize Iran’s enriched uranium have circulated since March. They are wrong. An invasion would be a… Mon, 19 Oct 2026 16:00:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 James Durso https://oilprice.com/Energy/Energy-General/New-Oil-Fields-Should-Have-to-Build-the-Carbon-Storage-Market.html oilprice-article-45815 The debate over new oil and gas fields usually ends in a familiar deadlock. Industry argues that production will still be needed for decades, supports jobs and reduces dependence on imports. Climate campaigners respond that every new field locks in emissions incompatible with net zero. Both sides then discuss carbon capture and storage as an afterthought: either a technological excuse for continued extraction or a costly public project unrelated to the licence being approved. There is a more useful option. If a government decides that a new oil… Mon, 19 Oct 2026 15:00:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Leon Stille https://oilprice.com/Energy/Energy-General/Colombias-Critical-Minerals-Could-Be-a-Game-Changer-for-America.html oilprice-article-45810 Since taking office, Colombia’s far-right president, Abelardo de la Espriella, has moved aggressively to restore ties with Washington after relations frayed under Gustavo Petro. The rapprochement revives a decades-old strategic alliance that made Colombia one of Washington’s closest partners in Latin America. Early last month, the two countries agreed to deepen cooperation on critical minerals, including rare earths, tungsten and antimony. The move aligns with De la Espriella’s pledge to revive Colombia’s economically vital… Mon, 19 Oct 2026 14:00:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Matthew Smith https://oilprice.com/Energy/Energy-General/The-Sulfur-Crisis-Threatening-the-Worlds-Food-Supply.html oilprice-article-45809 Sulfur has become an indispensable element for the modern industrial system, including agriculture. Before the outbreak of the Iran war, 24 percent of the world's supply of sulfur passed through the Strait of Hormuz. I can find no reliable information on whether sulfur is being shipped through the strait now after the Iranian government claimed control. I suspect the amount is close to zero. The sulfur price at the start of the Iran conflict was approximately $500 per metric ton for sulfur originating from the Middle East. It now sits above $800.… Mon, 19 Oct 2026 13:30:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Kurt Cobb https://oilprice.com/Latest-Energy-News/World-News/Qatar-Offers-Lebanon-2-Gas-Plants-and-20-Years-of-LNG-Piped-Through-Syria.html oilprice-news-45816 Qatar is offering to take over Lebanon's power supply problem at no upfront cost to Beirut. A draft program seen by Reuters has Qatar building two gas-fired power plants within three years and QatarEnergy supplying the gas under a 20-year LNG contract, with private financing in place of Lebanese public money. The document leaves payment obligations and guarantees open for negotiation, and Lebanon's state utility currently delivers only a few hours of electricity a day. The National Integrated Energy Investment Program includes two 825-megawatt… Mon, 19 Oct 2026 13:30:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Charles Kennedy https://oilprice.com/Latest-Energy-News/World-News/Pakistans-Growth-Slows-as-Hormuz-Crisis-Hits-Industry.html oilprice-news-45815 The Middle East crisis is threatening Pakistan’s tentative recovery from the brink with the help of the International Monetary Fund (IMF), as soaring energy prices and the lack of regular LNG supply from Qatar dragged growth in gross domestic product (GDP) well below analyst estimates. Pakistan’s economy grew by 2.0% in the quarter ended June, which is the fourth quarter of its fiscal year 2026, official data by the Pakistan Bureau of Statistics showed on Monday. The GDP growth was more than twice as slow in April to June compared to… Mon, 19 Oct 2026 12:30:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Charles Kennedy https://oilprice.com/Energy/Crude-Oil/Why-Canadian-Oil-Is-Lagging-Even-As-Global-Crude-Soars.html oilprice-article-45814 The oil price rally resumed its upward trajectory on Friday after the U.S. Central Command (CENTCOM) confirmed the sinking of the Singapore-flagged container ship following an Iranian Revolutionary Guard Corps (IRGC) projectile strike in the Strait of Hormuz. Brent crude for December delivery jumped 3.33% to trade at $109.50 per barrel at 2.35 pm ET, while WTI crude for November delivery was up 3.41% to change hands at $101.30/bbl, marking the first time the American benchmark has traded above $100/bbl in a month. However, Canadian crude continues… Mon, 19 Oct 2026 12:00:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Alex Kimani https://oilprice.com/Latest-Energy-News/World-News/Canadas-Inflation-Rises-to-31-as-Fuel-Oil-Prices-Jump-58.html oilprice-news-45814 Gasoline and fuel oil pushed Canada's annual inflation rate to 3.1% in September, up from 3.0% in August, as the war in the Middle East kept fuel prices high, Statistics Canada said on Monday. Gasoline prices rose 27.8% from a year earlier, up from 22.8% in August, despite the switch to the cheaper winter blend. Fuel oil and other fuels rose 57.8%, up from 43.7%, with the heaviest burden in Atlantic Canada, where many homes are heated with oil. The overall energy index climbed 19%, up from 15.4%, and transportation costs rose 8.4%. Grocery prices… Mon, 19 Oct 2026 11:30:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Michael Kern https://oilprice.com/Energy/Crude-Oil/Whats-Trumps-Thinking-Behind-The-Diesel-Deal-With-Russia.html oilprice-article-45813 While it is very trendily woke to attack U.S. President Donald Trump whenever possible, the truth is rarely trendy or woke -- it is usually tough, pragmatic, and increasingly unpopular in today’s world. Precisely where his recent decision to import Russian diesel into the U.S. fits into this matrix remains to be seen, but there is a lot more to it than initially meets the eye. So, what is that exactly? On the face of it, there seems little sense to the deal struck between Washington and Moscow that will see Russia release 300,000 tonnes --… Mon, 19 Oct 2026 11:00:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Simon Watkins https://oilprice.com/Latest-Energy-News/World-News/Iraqs-October-Oil-Exports-Top-34-Million-Bpd-Nearing-Pre-War-Levels.html oilprice-news-45812 Iraq's oil exports have averaged more than 3.4 million barrels per day so far in October, Oil Minister Bassem Mohammed Khudair told the state news agency INA on Monday. That puts them close to the 3.3-3.5 million bpd Iraq shipped before the war with Iran choked traffic through the Strait of Hormuz. The October figure is a jump of about 750,000 bpd from September, when exports averaged 2.65 million bpd according to the oil ministry. Of that, 250,000 bpd moved through the Iraq-Turkey pipeline to Ceyhan. Khudair said Iraq is now exporting through… Mon, 19 Oct 2026 10:30:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Charles Kennedy https://oilprice.com/Energy/Gas-Prices/Wright-Says-Gas-Prices-Peaked-As-Brent-Holds-Above-108.html oilprice-article-45812 Brent crude futures briefly tagged $109.99 a barrel in overnight trading before retreating from five-month highs during the Asian session and into European trading, as signs of recovering Middle Eastern supply offset renewed attacks on energy infrastructure and critical maritime shipping lanes. US Energy Secretary Chris Wright reinforced expectations of easing fuel prices at the pump, with ABC News quoting him on Sunday as saying gasoline and diesel prices had "peaked." "Both gasoline and diesel prices peaked a few weeks ago," Wright said, adding… Mon, 19 Oct 2026 10:00:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 OilPrice.com https://oilprice.com/Latest-Energy-News/World-News/Mozambique-Pitches-Sasol-and-ROMPCO-on-250-Million-Gas-Project.html oilprice-news-45813 Mozambique is in discussions with South African energy firm Sasol and pipeline company ROMPCO to potentially invest in a new $250 million gas project offshore Mozambique that could send more gas to South Africa. Mozambique plans to have floating storage and regasification units (FSRUs) at the new project at the coastal town of Inhassoro and the port of Beira, as the country aims to become a “power hub” for the region, Rudêncio Morais, CEO and chairman of Mozambique’s national oil and gas company, Empresa Nacional de Hidrocarbonetos… Mon, 19 Oct 2026 09:30:00 -0500 Tue, 20 Oct 2026 01:28:47 -0500 Michael Kern