https://oilprice.com/rss/main All the latest in Oil, Gas, Commodity news and analysis Sun, 21 Jun 2026 03:15:19 -0500 https://oilprice.com/Energy/Energy-General/G7-Takes-Aim-at-Chinas-Grip-on-Critical-Minerals.html oilprice-article-44712 The leaders of the G7 have created a strategic alliance on critical minerals in a coordinated effort to break China’s oversized control of the metals and minerals and rare earth elements crucial to the defense, automotive, and clean energy industries. At the G7 summit in Evian, France, the leaders of G7 issued a declaration in which the nations committed “to coordinating efforts within the G7 and with partner countries to establish and develop the necessary processing and industrial capacities for diversification of our critical minerals… Sat, 20 Jun 2026 18:00:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 Tsvetana Paraskova https://oilprice.com/Alternative-Energy/Renewable-Energy/Energy-Security-Not-Climate-Goals-Is-Now-Driving-the-Clean-Power-Boom.html oilprice-article-44709 While ships are beginning to trickle through the Strait of Hormuz after months of near-total closure, it will be a very long time before the effects of this year’s energy crisis fade from the global economy – if they ever do. This latest round of turmoil in global oil and gas markets has catalyzed clean energy adoption to a degree that may permanently alter the global energy landscape, as well as the way that we conceive of energy security and geopolitical strategy. It is extremely telling that, against the backdrop of the United States… Sat, 20 Jun 2026 16:00:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 Haley Zaremba https://oilprice.com/Latest-Energy-News/World-News/Iraq-Is-Keeping-Its-Syria-Oil-RouteEven-If-Hormuz-Reopens.html oilprice-news-44712 Nobody, especially not Iraq, wants to be caught relying on Hormuz ever again. Iraq is preparing to export crude oil and naphtha through Syria's Mediterranean port of Baniyas, expanding an emergency workaround that emerged after the closure of the Strait of Hormuz disrupted the country's primary export routes and left storage tanks filling up. According to Reuters, Iraqi officials say the strategy will remain in place even after shipping through Hormuz returns to normal. That alone says plenty. Iraq normally exports around 3.6 million barrels of… Sat, 20 Jun 2026 14:30:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 Julianne Geiger https://oilprice.com/Energy/Energy-General/China-Is-Taking-Its-AI-Boom-Under-the-Sea.html oilprice-article-44699 The data centre industry has taken off in the last few years, as tech companies look to develop the massive computing power needed to run complex operations, such as artificial intelligence. Thousands of data centres are being developed on land, but now, some countries are looking to establish innovative models in alternative locations, such as underwater. In May, China launched the world’s first wind-powered underwater data centre off the coast of Shanghai, with an investment of around $238 million. The 24 MW-capacity Shanghai Lingang undersea… Sat, 20 Jun 2026 14:00:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 Felicity Bradstock https://oilprice.com/Alternative-Energy/Nuclear-Power/Why-Small-Modular-Reactors-Are-Becoming-a-National-Security-Priority.html oilprice-article-44711 For decades, energy policy in Washington was debated on the basis of economics, climate change, and domestic politics. That era is over. The United States is entering a period where energy security must be recognized as a  core pillar of national security and military readiness. The global competition underway with China is not just about trade or tariffs. It is about industrial capacity, technological dominance, artificial intelligence (AI), semiconductor manufacturing, and defense production - all of which depend on a foundational requirement:… Sat, 20 Jun 2026 12:00:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 James Durso https://oilprice.com/Energy/Energy-General/The-US-States-Leading-the-Backlash-Against-Data-Centers.html oilprice-article-44700 Several U.S. states are concerned about the rapid expansion of data centres, as consumers pressure legislators to address rising utility bills and other energy concerns. Data centres are expected to be a major consumer of U.S. power by 2030 and beyond, as several tech companies expand their network, which is growing consumer concerns around the country’s power supply and demand. This has led several states to halt or even ban data centre development. Globally, data centres are expected to consume twice as much power and water by 2030, according… Sat, 20 Jun 2026 10:00:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 Felicity Bradstock https://oilprice.com/Alternative-Energy/Solar-Energy/Solar-Is-the-Cheapest-Power-in-History-But-States-Are-Retreating-From-It.html oilprice-article-44708 A high-stakes push-and-pull is taking place in the United States clean energy sector as state-level laws, federal-level policy, and that infamous invisible hand all tug in different directions. A staggering amount of different legal actions on the part of the Trump administration, the judicial system, and state politicians have created an incredibly complex landscape for clean energy adoption across the country. And while the economics of renewables are looking better than ever, the political positioning of the clean energy transition is looking… Fri, 19 Jun 2026 17:00:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 Haley Zaremba https://oilprice.com/Energy/Energy-General/Why-Lunar-Helium-3-Mining-Still-Cant-Compete-With-Earth.html oilprice-article-44706 When it comes to Helium-3, the biggest cost divide is between Earth and the Moon. Potential sources range from tritium decay and terrestrial helium wells on Earth to lunar regolith on the Moon. Today, Earth-based sources remain far easier and cheaper to access. This graphic, created by Visual Capitalist's Cody Good in partnership with Pulsar Helium, compares major potential sources of Helium-3 by cost, scalability, and accessibility. It’s part three of four in the Helium 3: From Theory to Opportunity series, delivering key He-3 insights for… Fri, 19 Jun 2026 15:00:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 OilPrice.com https://oilprice.com/Energy/Energy-General/The-Real-Reason-BP-Is-Retreating-From-the-North-Sea.html oilprice-article-44704 BP is still considering a sale of all or part of its UK upstream portfolio, which could fetch around £2 billion ($2.7 billion), though talks of a sale to Ithaca Energy fell through earlier this month, according to reports by Bloomberg and the Financial Times. We think the information is credible. A sale would fit the group’s strategic direction, and the company is an outlier in the UK, where other majors have either sold down or formed joint ventures. At the same time, BP has been pushing aggressively on the exploration front since… Fri, 19 Jun 2026 14:00:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 OilPrice.com https://oilprice.com/Latest-Energy-News/World-News/Israel-and-Hezbollah-Truce-Gives-Oil-Markets-a-Reason-to-Pause.html oilprice-news-44711 The Middle East's latest peace deal just got a peace deal of its own. Israel and Hezbollah agreed Friday to halt fighting in southern Lebanon after days of escalating clashes threatened to derail the fragile US-Iran peace process, reducing the risk that the first major test of the U.S.-Iran agreement would turn into its first major failure. Negotiations between Washington and Tehran are supposed to begin under a 60-day framework agreement designed to end the war, reopen the Strait of Hormuz, and eventually restore millions of barrels per day of… Fri, 19 Jun 2026 13:30:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 Julianne Geiger https://oilprice.com/Latest-Energy-News/World-News/Russia-Is-Rationing-Fuel-in-Moscow-After-Drone-Strikes.html oilprice-news-44709 Russia, one of the world's largest oil producers and exporters, is now rationing gasoline in its own capital. After months of increasingly successful Ukrainian drone strikes on Russian oil infrastructure, gasoline shortages have emerged in Moscow, forcing major fuel retailers to limit sales while authorities scramble to keep supplies flowing. The shortages follow repeated attacks on refineries and fuel infrastructure that have steadily chipped away at Russia's refining system. The latest blow came this week when Ukraine struck Gazprom Neft's Moscow… Fri, 19 Jun 2026 12:30:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 Julianne Geiger https://oilprice.com/Latest-Energy-News/World-News/Kuwait-Says-Oil-Output-Could-Hit-2-Million-Bpd-Within-a-Week.html oilprice-news-44708 Kuwait expects to raise its oil production to 2 million barrels per day (bpd) within a week, up from an average of 573,000 bpd in May, amid the reopening of the Strait of Hormuz. This estimate was given by Sheikh Nawaf Saud Al-Sabah, deputy chairman and CEO of Kuwait Petroleum Corporation (KPC), to Kuwait News Agency, before the collapse of the talks between the U.S. and Iran on Friday. “Prewar production levels could be restored within weeks once regular international commercial shipping to Kuwait ports has resumed,” Al-Sabah was quoted… Fri, 19 Jun 2026 11:30:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 Charles Kennedy https://oilprice.com/Energy/Crude-Oil/Why-Oil-Prices-Are-Falling-Even-as-Tankers-Remain-Trapped.html oilprice-article-44707 Oil prices tumble as markets bet on a Hormuz reopening despite slow tanker movements following the U.S.-Iran ceasefire.   Friday, June 19, 2026 The signing of the US-Iran ceasefire agreement might provide a 60-day evacuation window for all crude tankers stuck since March in the Gulf; however, up until now, the pace of outflows has been surprisingly low. With the Israel-Lebanon issue hanging by a thread, Iran has tried to reassert its authority over Hormuz in the first days since Trump’s signing of the MoU, yet the oil markets still anticipate… Fri, 19 Jun 2026 11:10:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 Tom Kool https://oilprice.com/Energy/Energy-General/Insurers-Roll-Out-400-Million-War-Risk-Facility-for-Hormuz-Shipping.html oilprice-article-44705 The world’s largest insurance marketplace is set to break the Strait of Hormuz logjam with a new $400m (£316m) war-risk facility. Lloyd’s of London has launched a new market consortium designed to provide additional marine war risk insurance capacity for vessels and cargo transiting the Strait of Hormuz. Insurer Chubb will serve as lead underwriter, supported by participating Lloyd’s syndicates and specialist market partners, to bring together underwriting expertise with additional Lloyd’s market capacity to “support… Fri, 19 Jun 2026 11:00:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 OilPrice.com https://oilprice.com/Latest-Energy-News/World-News/Equinor-to-Boost-Troll-Gas-Output-with-412-Million-Subsea-Development.html oilprice-news-44707 Equinor and its partners in the Troll gas field have decided to invest more than $400 million in a new subsea development to boost gas production from the huge Norwegian gas field in the North Sea. Equinor and its partners Petoro, Shell, TotalEnergies, and ConocoPhillips have decided to invest just over 4 billion Norwegian crowns, or $412 million, in a new subsea development that will increase gas production from the Troll field, the Norwegian energy major said on Friday. Equinor is betting on increasing its oil and gas production in the Norwegian… Fri, 19 Jun 2026 10:30:00 -0500 Sun, 21 Jun 2026 03:15:19 -0500 Michael Kern