Diesel prices and refining cracks are surging due to tightening middle distillate supplies, pushing Brent crude toward $95 per barrel. US diesel prices have reached an all-time high, with middle distillate cracks exceeding outright crude prices. OPEC+ is expected to maintain production quotas due to ongoing geopolitical tensions.
The Bureau of Land Management is proposing to shorten the permitting timeline for certain oil and gas projects in Alaska's National Petroleum Reserve to as little as 60 days. This move follows a petition from the Alaska Oil and Gas Association and aims to streamline reviews for qualifying sites.
Italian energy company Eni has signed a new oil project deal in Venezuela, improving its chances of recovering over $2.3 billion in debt owed by PDVSA. The agreement focuses on the Junin 5 heavy oil project, with plans for significant investment and output increase.
Chinese rare earth producers have halted exports to the U.S. due to fears of repercussions from Beijing, despite holding export licenses. This move comes weeks before a planned summit between Chinese President Xi Jinping and U.S. President Donald Trump.
The U.S. has secured majority control over 17 Venezuelan oil fields, holding 100-year leases and a 35% stake in a joint private company. The deal aims to boost Venezuela's economy while supplying oil to the U.S., though critics question its fairness and legality.
Facing extreme weather like drought, farmers are increasingly turning to perennial grains as a resilient alternative to traditional annual crops. These grains, with deep root systems, offer better water management and soil health, though challenges remain in yield and market development.
The U.S. government claims oil shipments through the Strait of Hormuz have neared pre-war levels, with 18 million barrels reportedly crossing on Tuesday. However, independent verification is challenging due to difficulties in reading shipping data and a significant portion of traffic running dark.
Americans are facing the most expensive Labor Day on record for gasoline, with the national average reaching $4.15 per gallon. This surge is attributed to high crude oil costs, exacerbated by the conflict in the Strait of Hormuz.
India plans to mandate battery storage for new solar and wind projects starting July 2027. The regulation aims to improve renewable energy output management and reduce curtailments, with storage requirements increasing in 2029.
Average U.S. diesel prices have reached a record high of $5.85 per gallon, driven by the ongoing conflict with Iran and global supply disruptions. This surge impacts transportation costs for numerous goods, potentially affecting consumer prices and businesses.
Guatemala has officially launched its nationwide ethanol-gasoline blending program, becoming the first Central American country to mandate an E10 blend. The program, which commenced on July 1, 2026, is expected to create an annual export market for U.S. ethanol valued at approximately $160 million.
A Chinese research team has developed a new method for extracting uranium from seawater, achieving an extraction rate eight times higher than the target set by the U.S. Department of Energy. This breakthrough could significantly impact global uranium supply and nuclear energy prospects.
European natural gas prices are on track for a fourth consecutive weekly gain, driven by escalating Middle East tensions and concerns over LNG supply disruptions through the Strait of Hormuz. Competition for a shrinking global supply pool is intensifying as winter approaches.
Canadian Pacific Kansas City (CPKC) and Canadian National Railway (CN) have both set new monthly records for grain transportation in August, signaling a strong start to the 2026-27 crop year. CPKC moved 2.54 million metric tons of grain, while CN transported 2.5 million metric tons.
FS GRAIN is expanding its grain elevator in St. Anne, Illinois, adding capacity to load trains of over 100 railcars and 1.2 million bushels of storage. The upgrade aims to move more grain by rail to markets across the U.S. and Mexico.
Two oil traders, Vitol and Heritage Petroleum FZCO, supplied 11% of Israel's crude imports (22m barrels) between Oct 2023 and June 2026, according to Oil Change International and SOMO. Most oil flows through Turkey despite an embargo.
Two firms, Vitol and Heritage Petroleum, supplied 11% of Israel's crude imports (22m barrels) from Oct 2023-June 2026, per OCI/SOMO.
A new report identifies Vitol and Heritage Petroleum FZCO as major crude oil suppliers to Israel, with most oil passing through Turkey.
Hedge fund Citadel is exploring the acquisition of U.S. oil production assets, including a previous bid for WildFire Energy. The move aligns with a broader trend of commodity traders seeking physical asset ownership to hedge against market disruptions, particularly amid Middle East tensions.
Hedge fund Citadel has held talks to buy U.S. oil production assets, considering expansion into physical asset ownership.
Citadel explored acquiring WildFire Energy, which Magnolia Oil & Gas bought for $4.06 billion.
The UK government is being urged to encourage households to stock up on food due to increasing risks from extreme weather events, cyber-attacks, and climate change. A National Audit Office report highlighted vulnerabilities in the food supply chain and government over-reliance on the private sector.
World food prices rose in August to their highest level since late 2022, driven by concerns over supply due to adverse weather and geopolitical disruptions in the Black Sea and Iran, the UN's Food and Agriculture Organization reported.
World food prices reached their highest point since late 2022 in August, according to the UN's FAO.
The FAO Food Price Index rose in August to its highest point since November 2022, driven by increases in cereal and vegetable oil prices.
A national cattle shortage is driving up beef prices for consumers and straining meatpackers like Tyson Foods, which recently cut its profit outlook. Imports of ground beef are being considered as a policy fix, but ranchers worry it could further depress domestic prices and disincentivize herd rebuilding.
