The oil market in early 2026 has been anything but predictable. What was expected to be a year of oversupply and sluggish prices has instead delivered a surge in volatility, driven by geopolitical flare-ups and unexpected supply disruptions. At the center of this storm is Iran, where escalating tensions with the United States have prompted […]
Continue ReadingIn a stunning revelation that underscores the resilience of Russia\’s energy sector amid Western sanctions, the Financial Times has exposed a sprawling smuggling network responsible for moving at least $90 billion worth of Russian crude oil. Dubbed the \”Dark Fleet,\” this shadowy armada of aging tankers and opaque trading entities has been operating for years, […]
Continue ReadingThe U.S. rotary rig count remained unchanged at 551 for the week ending February 20, 2026, according to the latest data from Baker Hughes. This marks no shift from the previous week but reflects a decline of 41 rigs compared to the same period last year, when the count stood at 592. This stability comes […]
Continue ReadingThe latest Weekly Petroleum Status Report from the U.S. Energy Information Administration (EIA), released on February 19, 2026, reveals a significant drawdown in U.S. crude oil inventories for the week ending February 13, 2026. Commercial crude oil stocks fell by 9.0 million barrels to 419.8 million barrels, a stark reversal from the previous week\’s […]
Continue ReadingIn the heart of America\’s most populous state, a self-inflicted energy crisis is brewing—one that threatens not just California\’s economy but the nation\’s security. Governor Gavin Newsom\’s aggressive push toward Net Zero emissions by 2045 has accelerated the decline of the state\’s oil and gas industry, leading to refinery closures, skyrocketing fuel prices, and increased […]
Continue ReadingThe European Commission confirmed it is in contact with Ukraine over repairs to the Druzhba pipeline, while assuring no immediate supply risks for Hungary and Slovakia. Slovakia accused Ukraine of delaying oil flows for political leverage, as Hungary sought to import Russian crude via Croatia’s Adria pipeline. A Bulgarian think tank argued that Hungary no […]
Continue ReadingBy Stuart Turley, Energy News Beat In a dramatic turn of events that has sent shockwaves through global energy markets, oil prices surged nearly 3% on February 18, 2026, following the abrupt collapse of peace talks between Russia and Ukraine in Geneva. Brent crude futures climbed 2.7% to $69.15 per barrel, while West Texas Intermediate […]
Continue ReadingJack Prandelli of The Merchants News Substack stopped by, and we had a blast visiting about huge changes in the oil and gas markets. At the end of the podcast, we also discuss how we should restructure electricity prices for consumers. 1. China’s efforts to reduce its reliance on the US dollar: – China is […]
Continue ReadingIn a move that has heightened tensions in the Middle East, Iran announced the temporary partial closure of sections of the Strait of Hormuz on February 17, 2026, to conduct naval exercises by its Islamic Revolutionary Guard Corps (IRGC). The drills, dubbed \”Smart Control of the Strait of Hormuz,\” involved live-fire exercises and were described […]
Continue ReadingDoomberg stops by the Energy News Beat and Energy Impacts podcast with Stu Turley and David Blackmon. We are going to cover some of Doomberg’s current articles, including the Energy Crisis in California, and the Global Oil and Gas market update. We were live on X, YouTube, and LinkedIn The main topics and themes […]
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