Trump’s tariffs and China’s steel glut are squeezing Canadian mills from both sides. Algoma’s blast furnace is shut, Stelco lines sit idle, and LNG Canada Phase 2 is going back to a Chinese fabrication yard. By the ENB Research Desk for Stu Turley. Data as of Oct. 26, 2026 (CT). Bottom line up front The […]
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Oil prices fell about 2% on October 15, 2026, after reports that the Trump administration is considering easing sanctions on vessels in the so-called “shadow fleet.” Brent crude futures dropped about $2.28 (2.2%) to around $103.78 a barrel, while WTI fell about $1.34 (1.4%) to roughly $93.75, reversing prior gains. The move reflected hopes that […]
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Nine huge stories from the Energy News Beat Team – Buckle Up This was our second Live feed to Substack, and as we try to grow here, we want to hear from you: what is important, and what we can do better. I am still on a small high this week as we have been […]
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India Hits Seven-Year High in Venezuelan Crude as Reliance Loads Up Jamnagar October flows could top 465,000 b/d—the strongest since 2019—while India’s decade-long import reshuffle and its No. 2 global refined-product export role show how discounted heavy barrels still clear through the world’s most complex refineries. India’s Venezuelan crude imports are on track for a […]
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Supertankers are racing into the Persian Gulf for record fees, and that single migration is redrawing how crude moves. More than 40 percent of the world’s roughly 850 very large crude carriers are now inside the Gulf or within a couple of days’ sail of it, according to Signal Ocean data cited by Bloomberg. Empty […]
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Stelco Holdings, owned by Ohio-based Cleveland-Cliffs since a $3.4-billion acquisition in late 2024, announced it will indefinitely idle cold-rolled and coated operations at its Hamilton Works plant beginning around October 9. The company says the move is required “to help ensure the survival of Stelco.” About 350 workers at Hamilton are expected to be […]
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The market got a supply headline it has been waiting for. Saudi Arabia has restarted the East-West Pipeline and could resume loadings from Yanbu on the Red Sea as soon as Tuesday, according to sources briefed on the matter. The line is still pumping at a low rate after drone strikes forced a shutdown around […]
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The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 now sits on President Donald Trump’s desk after the House passed it 262-159 on September 16. The Senate had already approved it 86-11. The bill targets Russia’s energy sector, officials, banks, oligarchs, and shadow fleet while authorizing the president to impose tariffs of up […]
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American oil executives have spent months warning that a prolonged disruption of the Strait of Hormuz would eventually produce a fuel crisis rather than a simple crude shortage. They now say that moment has arrived. Commercial inventories of gasoline, diesel, and jet fuel have been drawn down for more than six months. Strategic crude reserves […]
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How high they go from here, and how long they stay elevated, depends less on crude alone than on a global refining system that is already running near its limits. Energy analyst John Kemp noted Wednesday that the combined cost of U.S. crude and refining margins is now higher than in early April. So far […]
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