Oil Price

The Democratic Party’s decisive victory in the U.S. midterm elections has been widely called bad news for Trump policies, but now, it could interfere with legislation that previously drew support from both parties in Congress—and the GOP’s ambitions for energy independence and dominance. The bill in question, the Bipartisan American Affordability and Jobs Act, got broad support ...

The world is electrifying at an unprecedented pace, and it’s only going to keep speeding up. COP 31, the latest iteration of the United Nations’ annual climate conference, kicked off today in Antalya, Türkiye, and achieving 35 percent global electrification by 2035 is going to be one of the event’s most central agenda items. Until extremely recently, this target likely would hav...

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 9.0 million barrels in the week ending November 6. In the week prior, US crude oil inventories fell by 5.267 million barrels. Commercial crude oil inventories excluding the SPR have lost more than 54 million barrels over the last 30 weeks, and 3 million over this year, accord...

On Tuesday the Houthis launched another major missile salvo deep inside Saudi Arabia, however Saudi authorities have yet to acknowledge the fresh attack, or to publicly assess possible damage - though there are reports of missile alerts in the kingdom. The Houthi military spokesperson, Yahya Saree, announced the group once again targeted King Khalid International Airport, as wel...

The chief executive of British Airways’ parent company has said planned environmental charges on airlines would “kill” the European aviation industry and push up fares. Luis Gallego, the chief executive of International Airlines Group (IAG), has warned the proposed green charges – which are more burdensome for UK carriers – would hike prices for passengers and cause damage to th...