US oil prices finished lower for the first time in three weeks on reports that OPEC might hike its output again in October, and on a surprise increase in US crude inventories… after rising 0.5% to $64.01 a barrel last week on across the board oil & fuel inventory draws and on further deterioration of Ukraine-Russian peace prospects, the contract price for the benchmark US light sweet crude for October delivery fell in overseas trading on Labor Day, as traders focused on risks from oversupply and geopolitical tensions, but then rose in early Asian trading on Tuesday amid growing concerns over supply disruptions as the conflict between Russia and Ukraine intensified…that oil contract price then rallied to a high of $66.03 early Tuesday morning in New York, supported by expectations that OPEC+ producers would not unwind the remaining production cuts at their meeting on Sunday, and by concern over the lack in progress in ending the war in Ukraine, and closed Tuesday’s session $1.58 higher at $65.59 a barrel after the US sanctioned a network of shipping companies and vessels for smuggling Iranian oil disguised as Iraqi oil…oil prices edged lower in Asian trading on Wednesday, but remained near one-month highs, supported by the fresh US sanctions and geopolitical tensions, while traders looked ahead to this weekend’s OPEC+ meeting for supply signals, then slumped Wednesday morning in New York on reports that OPEC and its partners would be considering another round of production hikes at a meeting on Sunday, and settled $1.62 lower at $63.97 a barrel after sources told Reuters that eight members of the OPEC+ cartel would consider raising oil production further at a meeting on Sunday, as the group sought to regain market share….oil prices continued to fall in off market trading Wednesday evening after the American Petroleum Institute reported an unexpected build in domestic crude inventories, then extended those losses during Thursday's Asian trading as markets turned their attention to the upcoming OPEC+ meeting that could result in another increase in production quotas, and held those losses in early US trading on Thursday after the EIA confirmed an even larger increase in US crude inventories, and settled 49 cents lower at $63.48 a barrel on expectations that OPEC+ producers would increase their output targets at their meeting on Sunday, and on the unexpected build in crude inventories…oil prices fell for a third straight session during Asian trading on Friday, as expectations of increased supply from OPEC and the surprise build in US crude inventories deepened concerns over weakening demand, then tumbled over 2% in early US trading on news that Saudi Arabia was pushing OPEC+ to fast-track the group’s next oil production increase, originally scheduled for late 2026, and settled down $1.61 or 2.5% at $61.87 a barrel as a weak U.S. jobs report dimmed the outlook for energy demand, while expectations grew that OPEC+ would decide to push more barrels into the market to regain market share, which left oil prices 3.3% lower for the week..
meanwhile, natural gas prices finished higher for a second week, after falling over the previous five weeks, as falling gas production outweighed weak demand fundamentals…after rising 7.0% to $2.997 per mmBTU last week on forced short selling in the wake of a warmer forecast, on bargain hunting after prices hit a 10 month low, and on a lighter than expected addition of natural gas to storage, the price of the benchmark natural gas contract for October delivery opened 12.0 cents lower on Tuesday, as a bearish weather outlook continued to weigh on sentiment over the Labor Day weekend, then climbed gradually to recover the losses incurred over the long weekend to settle 1.2 cents higher at $3.009 per mmBTU on forecasts for higher demand for the week than was previously expected, and on sharp increases in other energy futures…the price of October natural gas opened 9.1 cents higher on Wednesday, largely due to a drop in production, then pulled back to stabilize near $3.060 by midday, before settling 5.5 cents higher at $3.064 per mmBTU, on increasing signs of tighter supply in spite of weather forecasts that indicated sluggish demand ahead….natural gas traded slightly higher early Thursday, but dropped to an intraday low of $3.022 when the in-line storage report hit the wire, before settling a penny higher at $3.074 per mmBTU, as daily gas output dropped to eight-week low…natural gas prices traded on both sides of that price early Friday, as traders weighed lower production and steady LNG activity against robust supply in storage and waning weather demand, then dipped lower in early afternoon trading as stable export activity and lower production were countered by higher storage levels and weaker weather demand, and settled 2.6 cents lower at $3.048 per mmBTU as the market sought direction heading into the Fall shoulder season, but still finished 1.7% higher for the week..
The EIA’s natural gas storage report for the week ending August 29th indicated that the amount of working natural gas held in underground storage rose by 55 cubic feet to 3,272 billion cubic feet by the end of the week, which left our natural gas supplies 73 billion cubic feet, or 2.2% less than the 3,345 billion cubic feet of gas that were in storage on August 29th of last year, but 173 billion cubic feet, or 5.6% more than the five-year average of 3,099 billion cubic feet of natural gas that had typically been in working storage as of the 29th of August over the most recent five years….the 55 billion cubic foot injection into US natural gas storage for the cited week was close to the 56 billion cubic foot addition to storage that analysts forecast in a Reuters poll ahead of the report, but was way more than the 16 billion cubic foot of gas that were added to natural gas storage during the corresponding week of 2024, as well as well more than the average 36 billion cubic foot addition to natural gas storage that has been typical for the same late August week over the past five years…
The Latest US Oil Supply and Disposition Data from the EIA
US oil data from the US Energy Information Administration for the week ending August 29th indicated that after a sizable increase in our oil exports, we had surplus oil to add to our stored crude supplies for the sixteenth time in thirty weeks, and for the 33rd time in sixty weeks, as an increase in oil supplies that the EIA could not account for was also a major factor in the supply build….Our imports of crude oil rose by an average of 508,000 barrels per day to average 6,742,000 barrels per day, after falling by an average of 263,000 barrels per day over the prior week, while our exports of crude oil rose by an average of 74,000 barrels per day to average 3,884,000 barrels per day, which, when used to offset our imports, meant that the net of our trade of oil worked out to a net import average of 2,858,000 barrels of oil per day during the week ending August 29th, an average of 434,000 more barrels per day than the net of our imports minus our exports during the prior week. At the same time, transfers to our oil supplies from Alaskan gas liquids, from natural gasoline, from condensate, and from unfinished oils averaged 487,000 barrels per day, while during the same week, production of crude from US wells was 16,000 barrels per day lower than the prior week at 13,423,000 barrels per day. Hence, our daily supply of oil from the net of our international trade in oil, from transfers, and from domestic well production appears to have averaged a total of 16,768,000 barrels per day during the August 29th reporting week…
Meanwhile, US oil refineries reported they were processing an average of 16,869,000 barrels of crude per day during the week ending August 29th, an average of 11,000 fewer barrels per day than the amount of oil that our refineries reported they were processing during the prior week, while over the same period, the EIA’s surveys indicated that a net average of 418,000 barrels of oil per day were being added to the supplies of oil stored in the US… So, based on that reported & estimated data, the crude oil figures provided by the EIA appear to indicate that our total working supply of oil from net imports, from transfers, and from oilfield production during the week ending August 29th averaged a rounded 518,000 fewer barrels per day than what was added to storage plus our oil refineries reported they used during the week. To account for that difference between the apparent supply of oil and the apparent disposition of it, the EIA just plugged a [ +518,000] barrel per day figure onto line 16 of the weekly U.S. Petroleum Balance Sheet, in order to make the reported data for the supply of oil and for the consumption of it balance out, a fudge factor that they label in their footnotes as “unaccounted for crude oil”, thus indicating there must have been an error or omission of that magnitude in the week’s oil supply & demand figures that we have just transcribed… However, since most oil traders react to these weekly EIA reports as if they were gospel, and since these weekly figures therefore often drive oil pricing and hence decisions to drill or complete oil wells, we’ll continue to report this data just as it’s published, and just as it’s watched & believed to be reasonably reliable by most everyone in the industry…(for more on how this weekly oil data is gathered, and the possible reasons for that “unaccounted for” oil supply, see this EIA explainer….also see this old twitter thread from an EIA administrator addressing these ongoing weekly errors, and what they had once hoped to do about it)
This week’s rounded 418,000 barrel per day average increase in our overall crude oil inventories came as an average of 345,000 barrels per day were being added to our commercially available stocks of crude oil, while 73,000 barrels per day were being added to our Strategic Petroleum Reserve, extending the string of nearly continuous additions to the SPR since September 2023, which followed nearly continuous SPR withdrawals over the 39 months prior to August 2023… Further details from the weekly Petroleum Status Report (pdf) indicated that the 4 week average of our oil imports rose to 6,598,000 barrels per day last week, which was 4.4% more than the 6,322,000 barrel per day average that we were importing over the same four-week period last year. This week’s crude oil production was reported to be 16,000 barrels per day lower at 13,423,000 barrels per day even though the EIA’s estimate of the output from wells in the lower 48 states was 6,000 barrels per day higher at 13,019,000 barrels per day because Alaska’s oil production was 22,000 barrels per day lower at 426,000 barrels per day.….US crude oil production had reached a pre-pandemic high of 13,100,000 barrels per day during the week ending March 13th 2020, so this week’s reported oil production figure was 2.5% higher than that of our pre-pandemic production peak, and was also 38.4% above the pandemic low of 9,700,000 barrels per day that US oil production had fallen to during the third week of February of 2021.
US oil refineries were operating at 94.3% of their capacity while processing those 16,869,000 barrels of crude per day during the week ending August 29th, down from the 94.6% utilization rate of a week earlier, but still on the high side of the post-pandemic utilization rate for this time of year…. the 16,869,000 barrels of oil per day that were refined this week were 0.2% less than the 16,900,000 barrels of crude that were being processed daily during the week ending August 30th of 2024, and were 2.9% less than the 17,381,000 barrels that were being refined during the prepandemic week ending August 30th, 2019, when our refinery utilization rate was at 94.8%, which was within the pre-pandemic normal range for this time of year…
With the insignificant decrease in the amount of oil being refined this week, gasoline output from our refineries was somewhat lower, decreasing by 109,000 barrels per day to 9,872,000 barrels per day during the week ending August 29th, after our refineries’ gasoline output had increased by 427,000 barrels per day during the prior week.. This week’s gasoline production was still 1.3% more than the 9,748,000 barrels of gasoline that were being produced daily over the week ending August 30th of last year, but 3.9% less than the gasoline production of 10,272,000 barrels per day seen during the prepandemic week ending August 30th, 2019….on the other hand, our refineries’ production of distillate fuels (diesel fuel and heat oil) increased by 36,000 barrels per day to 5,253,000 barrels per day, after our distillates output had decreased by 113,000 barrels per day during the prior week. With this week’s production increase, our distillates output was 1.6% more than the 5,169,000 barrels of distillates that were being produced daily during the week ending August 30th of 2024, and 1.9% more than the 5,154,000 barrels of distillates that were being produced daily during the pre-pandemic week ending August 30th, 2019....
With this week’s decrease in our gasoline production, our supplies of gasoline in storage at the end of the week fell for the twentieth time in twenty-seven weeks and by the most since April, decreasing by 3,795,000 barrels to a 9 month low of 218,539,000 barrels during the week ending August 29th, after our gasoline inventories had decreased by 2,720,000 barrels during the prior week. Our gasoline supplies decreased by more this week even though the amount of gasoline supplied to US users fell by 123,000 barrels per day to 9,117,000 barrels per day because our exports of gasoline rose by 268,000 barrels per day to 982,000 barrels per day and because our imports of gasoline fell by 185,000 barrels per day to 582,000 barrels per day ….Even after twenty-two gasoline inventory withdrawals over the past thirty weeks, our gasoline supplies were only 0.3% below last August 30th’s gasoline inventories of 219,242,000 barrels, while they were about 2% below the five year average of our gasoline supplies for this time of the year…
With the increase in this week’s distillates production, our supplies of distillate fuels rose for the 16th time in 35 weeks, increasing by 1,681,000 barrels to 115,923,000 barrels during the week ending August 29th, after our distillates supplies had decreased by 1,786,000 during the prior week.. Our distillates supplies increased this week because the amount of distillates supplied to US markets, an indicator of domestic demand, fell by 373,000 barrels to 3,768,000 barrels per day, and because our exports of distillates fell by 132,000 barrels per to 1,341,000 barrels per day, while our imports of distillates fell by 45,000 barrels per day to 96,000 barrels per day... With 48 withdrawals from inventories over the past 83 weeks, our distillates supplies at the end of the week were still 5.5% below the 122,715,000 barrels of distillates that we had in storage on August 30th of 2024, and about 13% below the five year average of our distillates inventories for this time of the year…
Finally, after the increase in our oil imports and the increase in oil supplies that the EIA could not account for, our commercial supplies of crude oil in storage rose for the 13th time in twenty-six weeks, and for the 28th time over the past year, increasing by 2,415,000 barrels over the week, from 418,292,000 barrels on August 22nd to 420,707,000 barrels on August 29th, after our commercial crude supplies had decreased by 2,392,000 barrels over the prior week… After this week’s increase, our commercial crude oil inventories rose to 4% below the recent five-year average of commercial oil supplies for this time of year, while they were also about 25% above the average of our available crude oil stocks as of the last weekend of August over the 5 years at the beginning of the past decade, with the big difference between those comparisons arising because it wasn’t until early 2015 that our oil inventories had first topped 400 million barrels. After our commercial crude oil inventories had jumped to record highs during the Covid lockdowns in the Spring of 2020, then jumped again after February 2021’s winter storm Uri froze off US Gulf Coast refining, but then fell sharply due to increased exports to Europe following the onset of the Ukraine war, only to jump again following the Christmas 2022 refinery freeze-offs, our commercial crude supplies have somewhat leveled off since, and as of this August 29th were 0.6% above the 418,310,000 barrels of oil left in commercial storage on August 30th of 2024, and 1.0% more than the 416,637,000 barrels of oil that we had in storage on September 1st of 2023, and were 0.6% more than the 418,346,000 barrels of oil we had left in commercial storage on August 26th of 2022…
This Week’s Rig Count
The US rig count was up by one over the week ending September 5th, the first increase in eight weeks, as rigs targeting oil increased by two, while rigs targeting natural gas decreased by one…for a quick snapshot of this week's rig count, we are again including below a screenshot of the rig count summary pdf from Baker Hughes...in the table below, the first column shows the active rig count as of September 5th, the second column shows the change in the number of working rigs between last week’s count (August 29th) and this week’s (September 5th) count, the third column shows last week’s August 29th active rig count, the 4th column shows the change between the number of rigs running on Friday and the number running on the Friday before the same weekend of a year ago, and the 5th column shows the number of rigs that were drilling at the end of that reporting period a year ago, which in this week’s case was the 6th of September, 2024…
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HB 399 to prevent fracking under state parks, Lake Erie - Athens Post - House Bill 399, sponsored by Ohio Democratic Reps. Tristan Rader and Christine Cockley proposed legislation that prevents the Ohio Department of Natural Resources from issuing permits to drill for oil and gas under state parks, as well as Lake Erie. HB 399 makes a specific point to include the prevention of fracking under Lake Erie. Rader added this stipulation as a precaution, stating the federal government is showing no respect for public and private lands, potentially resulting in drilling under Lake Erie.“If we don't protect our environment, our ecosystems, our biodiversity, we'll lose it forever,” Rader said. “And generations to come won't know what I knew as a kid, being able to explore these wonderful wild spaces in our state.”The bill comes after HB 507, signed into law in 2023, effectively required state agencies to lease oil and gas interest lands for fracking purposes. HB 507 allowed drilling for oil and gas to occur under Salt Fork State Park, Valley Run Wildlife Area and Zepernick Wildlife Area, according to The Associated Press. Save Ohio Parks, a social welfare organization dedicated to protecting public lands across Ohio from fracking, spoke out in support of the proposed HB 399.Board President Cathy Cowan Becker expressed her support of HB 399 but stated she would prefer to see it expanded, covering wildlife areas and all public lands.Becker mentioned the dangerous nature of fracking, claiming an accident occurs at an oil and gas operation in Ohio about every 1.5 days. She detailed recent incidents that occurred across the state, like the explosion in Guernsey County, featured in a January report from The Post.“If that happened right next to a state park, even 1,000 feet away, how would you evacuate Salt Fork? It's 20,000 acres,” Becker said. Once these fracking sites are depleted of available resources, the company overseeing the operation will typically pull resources out and move to a new site, according to an article by the U.S. Department of Agriculture. In doing this, the companies are leaving behind orphan wells that can pose future issues, according to a previous report by The .Rader cited these orphan wells, bringing up a recent explosion at a well in Washington County. The explosion injured six workers, causing four to need helicopter transport for treatment.“This is not a straightforward, safe, clean activity. This is activity that could end up damaging wildlife, damaging land,” Rader said.Another major concern with fracking opponents cite is the water supply and healthy drinking water. Fracking extracts oil and gas from underground by forcing water, sand and chemicals down into wells. Although the amount of water varies, the use per well ranges from 1.5 to 16 million gallons of water, according to the United States Geological Survey. Becker claims after the water is laced with toxic chemicals and pumped into the ground, the risk of this water leaking and harming local ecosystems and drinking water is high. In May 2024, ODNR shut down multiple injection sites in Athens County for danger posed to health and the environment, according to a previous report. The bill remains in the House, with Rader hopeful it will garner support, stating the bill has broad support from rank-and-file members across the state. The democratic congressman stated why the bill is important, even amidst a Republican controlled state.“We have to set that vision,” Rader said. “We have to lay out there where we need to be as a country and a state in order to have a chance to save these spaces before it's too late.”Becker also advocated for more transparency concerning ODNR’s management of fracking procedures, arguing state laws are tipped in favor of the fracking industry, she said.“The oil and gas lobby in Ohio gives a lot of money to a lot of different state legislators, and they lobby them constantly,” Becker said. As a result, Save Ohio Parks heavily supports HB 562, currently in the House Committee, which would require horizontal fracking well pad owners to disclose the chemicals used in their drilling procedures, some of which are argued to be cancer-causing.
Ohio fracking and poor waste management threaten our health, drinking water — and democracy - Melinda Zemper, Save Ohio Parks, Ohio Capital Journal - The chicks from Ohio’s fossil fuels-based energy policy have grown up quickly and are coming home to roost. In Washington County, Marietta area residents have been meeting with local city and county officials about concerns their drinking water could be contaminated by toxic, radioactive gas and oil wastewater brine migrating from nearby injection wells. And in much-fracked Harrison County, 3,000 Cadiz residents have been unable to drink local water off and on since June. One citizen complained of “slimy, oily crud” and a rainbow sheen in his and his parents’ tap and shower water. Two months after the June boil advisory was first lifted, the Ohio Environmental Protection Agency claimed water main breaks from recharging the system and turbulence in Tappan Lake — which provides water to Cadiz — were to blame. Yet at press time, water concerns continue. These issues should be of great concern to lawmakers and Ohioans. But the Ohio Department of Natural Resources, which mandates and monitors oil and gas fracking — along with storage management of its toxic, radioactive wastewater brine — just keeps fracking along.Public comments to frack three Ohio Department of Transportation rights-of-way are due by Sept. 8. If the Ohio River, and Ohio groundwater and aquifers become contaminated by toxic, radioactive oil and gas wastewater brine or PFAs, how do we make it drinkable again? Or can we? Texas and Pennsylvania are examples of what could be in store for Ohio water. The state of Texas has 2,870 cases of contaminated groundwater from gas and oil production and wastewater brine management, affecting half its water supply. In June, Coterra Energy, Inc. in Lenox Township, Pennsylvania was fined $299,000 and ordered to replace the water supply for 13 private residential homes. It’s located just a few miles from Dimock, Pa. Dimock was the focus of the 2010 award-winning documentary ‘Gasland,’ that showed residents setting fire to polluted water flowing from their kitchen faucets.Cabot Oil and Gas company was finally ordered in 2022 to pay $16 million to build a public water system to replace contaminated rural drinking supplies and pay residential water bills there for 75 years. But on the very same day that decision was announced, the Pennsylvania Department of Environmental Protection lifted a ban on fracking Dimock that had been in place since 2010. Ohio, with its many beautiful lakes, rivers, and streams, the Ohio River on our southern border and Lake Erie to the north, was supposed to be a climate oasis as the world heats to 1.5° Celsius and beyond. If we lose our drinking water, we’ll be refugees instead. The most recent state budget is so dripping with gas and oil that it makes the ODNR dependent on fracking leases for half of its future budget next year.This means ODNR must continue fracking public lands it’s supposed to protect in order to maintain staff and operations.All this despite the fact that wind and solar energy are cheaper than natural gas and the rest of the world is moving rapidly to renewables. If you want to drain a swamp, here is likely the largest one too few people are discussing: without the U.S. government’s annual subsidies, such as the$760 billion it gave the gas and oil industry in 2022, could fossil fuels even survive in a free market? The little chicks that fracking bore are maturing into demanding, cackling hens. But the eggs they’ve laid over the past 15 years haven’t been good for Ohio. We all need to talk more about fossil fuel fracking under public lands and energy in Ohio. We need to talk about their relationship to climate change and democracy, too. That conversation could help voters choose lawmakers based on issues, like dedication to good health, clean air, water and land, biodiversity, and a livable planet — instead of political party loyalty and fossil fuel industry spin.
Water pollution case could land at Supreme Court - POLITICO Pro -- A yearslong water pollution dispute between the state of Ohio and a natural gas pipeline developer may be one of the first environmental cases to be taken up by the Supreme Court at the start of its new term. Ohio Attorney General Dave Yost (R) is asking justices to back his efforts to sue the developer of the Rover pipeline, which spilled millions of gallons of diesel-laced fluid during construction in 2017 into Buckeye State waters. Yost’s bid to the high court comes after a state court blocked his efforts to sue Rover Pipeline — jointly owned by Energy Transfer and Blackstone Energy Transition Partners. The court could reach a decision on whether to grant the case as soon as the first week in October. Yost faces difficult odds; the justices only grant a small fraction of the petitions they receive each term.The company claims that Ohio could not pursue legal action because it missed a one-year statutory window to certify the project complied with state water quality standards under Section 401 of the Clean Water Act. The process allows a state to set specific requirements on a project ahead of construction so that it is in line with state water law. Since Ohio had waived that right, it could not now seek to enforce state water quality standards against the developer, the company argued.
Rumor: Antero Preparing to Sell Ohio Utica Upstream, Midstream - Marcellus Drilling News -- Wow! Here's a bombshell rumor. Antero Resources, the country’s fifth-largest natural gas producer and largest producer in West Virginia, is preparing to market its Ohio Utica assets, hoping to fetch $900 million to $1 billion. That's according to an exclusive report by Hart Energy, which spoke to "multiple sources" who requested anonymity. Antero owns 82,000 acres of leases in the Utica/Point Pleasant shale of eastern Ohio, in "the most prolific part of the play," according to the company's website.
Second PA Town Declares Disaster Emergency re EQT Frac-Out -- Marcellus Drilling News - Last week, MDN brought you the news that Freeport Township, located in Greene County, PA, declared a Disaster Emergency on June 23, 2025 (see Freeport Twp (PA) Declares Disaster Emergency re EQT Frac-Out). The emergency is related to a “frac-out” at the EQT Lumber well that happened three years ago, in July 2022 (see Possible Frac-Out Reported at EQT Well Site in Greene County, PA). Now comes word that a second township that neighbors Freeport, Springhill, has also officially declared a Disaster Emergency for the same reason. Springhill’s declaration happened on August 7.
PA DEP Reports Half of Eureka 16,000 Gal. Wastewater Leak Recovered -- Marcellus Drilling News - On Tuesday, the Pennsylvania Department of Environmental Protection (DEP) provided an update on the cleanup of the spill from the closed Eureka Resources frack wastewater treatment facility in Williamsport (Lycoming County), PA. On August 17, Eureka’s Second Street facility (one of the three previously operated by Eureka) leaked some of its stored untreated wastewater, which ended up in the nearby Susquehanna River via a storm drain (see ‘Black Goop’ Spills into Susquehanna River from Closed Eureka Plant). The leak, traced to a corroded tank fitting, was discovered by fishermen. On Tuesday, the DEP reported that roughly half (8,000 gallons) of the estimated 16,000-gallon spill had been recovered.
SHALE INSIGHT® 2025 to Spotlight the Appalachian Basin as the Hub of America's Energy, Tech Future -- 15th annual conference, hosted by the Marcellus Shale Coalition, returns to Erie Sept. 16-18 - -- Pennsylvania is fast becoming the epicenter of America's energy leadership and growth, and the 15th annual SHALE INSIGHT® Conference will bring together executives, policymakers, and technical experts from across Appalachia's natural gas industry to chart how the region is leveraging decades of innovation to drive the nation's economic and technological competitiveness. Coming on the heels of U.S. Senator Dave McCormick's Energy and Innovation Summit, which showcased nearly $100 billion in Pennsylvania energy and digital infrastructure investments, SHALE INSIGHT® 2025 will dive into what these commitments mean for continued shale development in Pennsylvania and the Appalachian Basin at large.Timely topics include grid reliability and power generation, the impact and opportunities from the rise of data centers and AI, infrastructure build-out and downstream use opportunities, among many others."Shale Insight unites the industry's top leaders and innovators at a time when Pennsylvania is driving advancements not only in natural gas development, but also in advanced manufacturing and in emerging technologies," said Jim Welty, president of the Marcellus Shale Coalition. "This year's conference will showcase how America's largest shale-gas basin is fueling growth and opportunity for our country and our allies abroad."Featured speakers include executives from Expand Energy, Southern Company Gas, EQT, Repsol, MPLX, PennEnergy Resources, and National Fuel Gas, as well as PHMSA's Acting Administrator, Ben Kochman, and PJM Interconnection's Asim Haque, Senior Vice President, Government and Member Services. In addition, United States Senator Dave McCormick will share thoughts on how Pennsylvania is emerging as America's energy and AI hub, while the American Gas Association will host a fireside chat about the role of Appalachia-produced natural gas in the utility sector in various regions of the country. Attendees will also benefit from learning about future energy innovations through both the Technology Showcase and the University Research Showcase. The Technology Showcase will provide insights into new advancements in AI, emissions management, mineral and next-generation systems, among others, while the University Research Showcase will feature projects on a range of topics from a dozen students and faculty from Penn State University, West Virginia University, The Ohio State University, Washington & Jefferson College, and Franklin University. Packed with keynote speakers, engaging breakout panels, a sold-out exhibition hall of operators, vendors, and service providers, and plentiful networking opportunities, SHALE INSIGHT® 2025 underscores how the Appalachian Basin is powering America's energy future while providing family-sustaining jobs, unparalleled economic opportunities, and energy security for America and our allies abroad.
19 New Shale Well Permits Issued for PA-OH-WV Aug 25 – 31 -- Marcellus Drilling News - For the week of August 25 – 31, the number of permits issued to drill new wells in the Marcellus/Utica decreased from the previous week. There were 19 new permits issued across the three M-U states last week, down from 30 issued two weeks ago. Pennsylvania issued just six new permits, with two going to CNX Resources in Greene County. Another two went to EQT (including Rice Drilling), also in Greene County. Seneca Resources and Formentera Operating both received a single permit in Cameron and Lycoming counties, respectively. BELMONT COUNTY | CAMERON COUNTY | CNX RESOURCES | EQT CORP | EXPAND ENERGY | FORMENTERA OPERATING | GREENE COUNTY (PA) |GRENADIER ENERGY | LYCOMING COUNTY | MONROE COUNTY | SENECA RESOURCES | WETZEL COUNTY
Deep Utica Wells Outperforming Marcellus Wells on ROR, Production -Marcellus Drilling News -- Some interesting comments about the "deep" Utica Shale in Pennsylvania were made during last week's Hart Energy DUG Appalachia event, held in Pittsburgh. Including this one, from Mike Hillebrand, CEO of Huntley & Huntley: "The deep Utica, watch out folks. The deep Utica will probably be the next up-and-coming deep shale play here in Pennsylvania." Hillebrand also broke some big news by announcing Huntley & Huntley, which recently completed the sale of its Olympus Energy subsidiary to EQT for $1.8 billion, is working on its next startup, which will focus on "deep Utica and Tier II Marcellus."
PennEnergy Co-Develops Marcellus with Shallower Burket Shale -The mighty Marcellus and Utica shales have carved their legends into Appalachia’s rock. But the shallower Burket Shale quietly lingered, overshadowed and often overlooked. Today, intrepid Appalachian producers like PennEnergy Resources are tapping into this third resource play with compelling results. The Upper Devonian Burket, also known as the Genesee or Geneseo Shale, has been tapped across many of the same regions in Pennsylvania and West Virginia where Marcellus development has occurred. “[The Burket] overlies the Marcellus and is incredibly economic,” said PennEnergy Resources President Ben Bates at Hart Energy’s DUG Appalachia Conference & Expo in Pittsburgh. EnCap-backed PennEnergy holds over 180,000 acres across Beaver, Butler and Armstrong counties, Pennsylvania, around 30 minutes north of Pittsburgh. PennEnergy is producing 600 MMcfe/d from around 450 wells, with about 30% of production and revenue stemming from NGLs. Over the next five years, PennEnergy plans to ramp production by 50% to around 900 MMcfe/d. “We’ll do that through the conversion of many of [our] 600 locations into PDP at about 25 wells a year,” Bates said. PennEnergy estimates it holds around 25 years of drilling inventory across the Marcellus and Upper Devonian formations. The Burket Shale is an organic-rich mudstone lying above the Tully Limestone and several meters above the Marcellus. The Burket on PennEnergy’s acreage is largely a wet-gas play, enhancing well economics through added liquids production and higher Btu content. “These wells are incredibly economic on their own,” Bates said. “But when co-developed with the Marcellus and shared infrastructure and pad space, these wells become an incredible opportunity to effectively double our wet gas inventory.” Bates said PennEnergy has experimented with sequencing its fracs between different formations. PennEnergy has historically fracked its Marcellus wells before the Upper Devonian targets. “What we found is that when you lead with the Upper Devonian frac, it creates this pressure barrier,” he said. “We didn’t have any breakthrough amongst the Tully that caused issues, but it was a pressure wave that contained that frac in the Marcellus.” The change in frac sequencing has shown a 15% uplift in the company’s well results, Bates said. “By containing that frac and really hyper-stimulating the Marcellus zone, we think we’ve really capitalized on that uplift,” he said. PennEnergy turned in line (TIL) eight wet gas wells during the third quarter. Results are early but “early indications are really positive.” The company is currently fracking its last pad of the year, and the 12 wet gas wells will turn to sales in the fourth quarter. The pad features some of the longest laterals PennEnergy has drilled in Appalachia. PennEnergy is also seeing strong results from its dry gas wells, where type curves are above 2.7 Bcf/1,000 lateral ft. The company TIL’d six dry gas wells in the second quarter that exceeded expectations by 115%. Around 80% of PennEnergy’s inventory breaks even at NYMEX pricing of $2.50/MMBtu or lower. “That gives us a lot of durability to go execute on this forecast even if prices do the thing we don’t like to talk about,” Bates said. EQT Corp. has also tapped the Burket/Genesee over the years in Washington and Greene counties, Pennsylvania. State records indicate EQT spud three Genesee wells in Washington County in early July, its first in the formation since September 2018. Other companies with wells landed in the Burket/Genesee in the past five years include Range Resources, STL Resources and Seneca Resources.
Range CEO Says More Pipes Urgently Needed in M-U to Grow Production -- Range Resources sunk the very first Marcellus well back in 2004. It was the beginning of the shale revolution in the northeast. Range CEO Dennis Degner spoke at the recent Hart Energy DUG Appalachia Conference in Pittsburgh (August 27th). He discussed driving sustainable growth in the Marcellus/Utica region. The number one way to do that? More pipelines. But what about the coming Constitution Pipeline that will flow another 660 MMcf/d of Marcellus molecules out of northeastern Pennsylvania into New York and beyond? R
Natural gas supplier eyes new Murrysville pipeline - Residents in Murrysville could see construction of a 4-mile natural gas pipeline in the municipality as part of an effort by Eastern Gas Transmission and Storage to boost its capacity to supply the fuel. The Appalachian Reliability Project could begin construction in March 2027, at an estimated cost of $239 million. It’s proposed to go online in the summer of 2028, pending approval by the Federal Energy Regulatory Commission. Eastern Gas Transmission and Storage (EGTS) said the project was prompted by an increased demand for natural gas in the region. The new pipeline and improvements at other EGTS sites are meant to allow the supplier to tap more of Western Pennsylvania’s natural gas for delivery through an interstate pipeline grid in Pennsylvania and Ohio. In particular, Cecil Township-based CNX is looking to increase the amount of gas it can send through the EGTS pipeline network. The region lacks capacity on days of peak demand for natural gas, EGTS states in its permit application. According to project documents, the new Murrysville pipeline would run southeast from EGTS’s J.B. Tonkin Compressor Station, at Mamont and Hills Church roads, to a point north of the community of White Valley. Measuring 30 inches in diameter, it would be underground beside existing EGTS lines. The company’s Delmont Metering & Regulation Station, off Route 22 in Salem, would get new pipe, meters, gas processing equipment and line heaters within the existing footprint of the Oakford Compressor Station located there. In Armstrong County, a Roaring Run Metering & Regulation Station is proposed — with an interconnect and taps on adjacent existing pipelines, for receipt of gas — near the village of Brownstown in Kiskiminetas Township. Other work would take place at sites in Greene County and in Ohio’s Monroe County. Some local officials have cited no concern about the Appalachian Reliability Project. Several politicians and organizations have actively supported it. Mac McKenna, vice president of Murrysville council, was among officials who went on a tour of EGTS property and part of the route of the proposed new pipeline in that municipality. “They told us how things were going to work." “Once we toured the things along Mamont (Road), they took us out to one of the locations where the pipeline was going. It was very wooded.” As for any complaints or concerns about the EGTS project, McKenna said, “I haven’t heard a word from any community members.” “We haven’t heard much from the community so far,” agreed Michael Nestico, Murrysville’s chief administrator. “Thus far, we’ve been supportive of their project. They’ve met with our administrative staff several times, and we haven’t had any immediate concerns.” Nestico submitted a July 25 letter on behalf of Murrysville, expressing support for the EGTS permit application. He cited the project’s “potential to strengthen regional energy infrastructure, support economic development, and enhance system reliability.” In response to a TribLive inquiry, EGTS said the new Murrysville gas line will serve as “a looping pipeline segment to connect J.B. Tonkin Station, located in Murrysville, with an existing pipeline upstream of an existing metering and regulation facility.” At the Tonkin site, EGTS intends to install a new 20,500-horsepower natural gas turbine-driven compressor, along with connecting pipes and valves. Compressors are needed to maintain pressure along a pipeline and keep natural gas flowing. They counteract such pipeline factors as distance, friction and elevation, which can slow the flow of gas. The new pipeline and multiple site improvements are meant to increase EGTS’s interstate gas transmission capacity by 550,000 dekatherms per day. The gas would be delivered to a Texas Eastern pipeline in Westmoreland County and to a Rockies Express pipeline in Monroe County, Ohio
EGTS Gives Tour to Murrysville Officials of Future Pipeline Path - Marcellus Drilling News --Eastern Gas Transmission and Storage (EGTS), a wholly owned subsidiary of Berkshire Hathaway Energy Company (Warren Buffett’s company), filed a new project with the Federal Energy Regulatory Commission (FERC) in July (see Eastern Gas Files with FERC to Expand Pipe Flows from PA to OH). The project, known as the Appalachian Reliability Project (ARP), is designed to transport more natural gas from Pennsylvania to Ohio. ARP will leverage the existing EGTS pipeline infrastructure while increasing its system capacity through pipeline additions and station upgrades, including the installation of four miles of new pipeline in the Municipality of Murrysville (in Westmoreland County). EGTS reps reached out to local officials and provided them with a tour of where the pipeline will go. Murrysville is supportive of the project.
Left Launches New Attack Against Potential Philly LNG Export Facility -- Marcellus Drilling News - In early 2024, we reported that Penn America Energy CEO Franc James, the potential builder of the proposed Penn LNG export facility in the Philadelphia area, said that he “pumped the brakes” on the project but that it wasn’t dead yet (see Penn LNG CEO Says Philly Export Project on Hold, “Not Dead Yet”). In June of this year, Reuters reported that James met with White House officials (at the White House) to discuss the Penn LNG project (see Philly LNG Project Owner Met with White House Officials This Week). Needless to say, that set off the radicalized left, which is actively pushing propaganda via favored outlets like Inside Climate News to try to block the project.
The Push to Enable Higher Appalachian Gas Flows Into North Carolina - After a decade of regulatory and legal challenges, Mountain Valley Pipeline (MVP) finally came into service in the middle of last year. The 2-Bcf/d pipeline — soon to be expanded to 2.5 Bcf/d via additional compression — was designed to ease natural gas takeaway constraints out of the Marcellus/Utica and help production there break past its current plateau near 36 Bcf/d, but bottlenecks on the massive Transco Pipeline have complicated matters. In today’s RBN blog, we look at efforts to unleash more Appalachian gas in the domestic market, focusing on the Southside Reliability Enhancement Project (SREP), which has enabled more gas to reach North Carolina. This is the fourth blog in our series about upstream and midstream developments in the Marcellu/Utica shale play. In Part 1, we discussed how the enormous production growth in the basin during the early years of the Shale Era stalled in the 2020s, averaging about 35 Bcf/d for the past five years. Appalachian production has been stymied not by challenges on the upstream side but by the lack of takeaway capacity in the region. Part 2discussed the various projects — proposed, under construction and already in service — to expand pipeline takeaway capacity through new lines and expansions of existing lines. Part 3 turned to the individual upstream companies and their near-term production plans as communicated to investors.Today, we are going to dive more deeply into what was discussed in Part 1, focusing on what has been accomplished since SREP (area of improvements indicated by green line in Figure 1 below) came into service in September 2024, including how much incremental gas is flowing out of Appalachia and where it is heading. Let’s start with a look at how flows on MVP have developed now that it has been online for more than a year. MVP (aqua line) started flowing gas in June 2024 and ramped up its outflows into Transco to 1 Bcf/d within its first month of service. Some of that gas was finding new egress to markets to the south while some of it was displacing natural gas that previously flowed in from farther north (more on that below). After plateauing for a time last summer, MVP’s ramp-up resumed in the fall and early winter. By the beginning of 2025, MVP had reached its full potential, pouring an average of 1.9 Bcf/d into Transco, according to data from Wood Mackenzie. While those volumes sagged in subsequent months, the cause was related to natural gas prices rather than a constraint on MVP’s ability to find supply or flow its molecules to Transco. Next, let’s look at why it happens that way.Williams’s Transco Pipeline (brown line), a nearly 10,000-mile system between the Gulf Coast and New York City, has been receiving ample supply out of the “dry Marcellus” in Northeast Pennsylvania since the Shale Revolution started. These molecules still feed the system’s flows to the Northeast year-round toward major markets like the Big Apple and New England. To supply Transco in the south, however, gas flowing southbound from Northeast Pennsylvania on Transco must increasingly compete with gas from Southwest Pennsylvania and northern West Virginia coming into Station 165 (black dot in Figure 1 above) on MVP. So, in cold-weather months, natural gas will be pulled north to serve heating demand while in warmer months, when less gas is needed up north, more gas from Northeast Pennsylvania will be priced to displace some of the gas coming in from MVP.We can see in Figure 2 below that gas from MVP (blue area in chart) now makes up the majority of southbound flows on Transco year-round. There were even weeks last winter when all outbound flows on Transco carried MVP-sourced molecules. But on most days that are not impacted by high demand for gas in the Northeast, we still see flows coming from the Northeast on Transco (orange area) heading into Station 165. We should note that the Northeast outflows being measured on Transco are all the gas flowing south over the Virginia-North Carolina state line, as modeled in RBN’s weekly NATGAS Appalachia report. Why can’t MVP flow all-out at the same time that Northeast Pennsylvania gas feeds the Transco system at the level it did prior to 2024? As we discussed in Bring it on Home, Transco has significant bottlenecks just south of where it receives MVP gas at Station 165 in south-central Virginia. Until those pinch-points are resolved, Appalachian gas production cannot rise to take full advantage of MVP’s additional offtake capacity year-round. This problem has been recognized by the owners of both Transco and MVP, and there are multiple plans to help resolve this, one of which has already entered service. When we look at southbound natural gas flows on Transco across the Virginia-North Carolina state line, things certainly changed after SREP entered service in December. For the first eight months of 2025 (orange line in Figure 4 below), every month saw more southbound gas cross the border than the similar month from the prior year (gray line), indicating that additional demand centers could now be tapped through the corridor. The outflow in February was only 146 MMcf/d higher than the prior year, but April’s outflow was a whopping 619 MMcf/d higher. Over the eight-month period, the increase has averaged 296 MMcf/d over the prior year. The first two-thirds of 2025 have seen the highest outflows of any year on record, averaging 1.85 Bcf/d, or just under 80% of Transco’s 2.4-Bcf/d southbound capacity at that point (dotted black line)That brings us to the question of where the incremental gas is going, and to what extent it is directly feeding meters where compression has been added. Well, it isn’t going to eastern North Carolina on the South Virginia Lateral just yet, as no deliveries are apparent in Northampton County, NC, this year. However, our flow analysis does show significant changes to pipelines on the main Transco system running from north to south through the center of North Carolina. This is especially evident in two locations. First, the flow of gas has shifted significantly where Transco connects with East Tennessee Natural Gas (purple line in Figure 3) in Rockingham County, not far south of Station 165. Second, two power plants in Rowan County have seen a major boost to gas flows.Transco received more gas than it delivered to East Tennessee during 11 of the 12 months of 2024 (blue bars in Figure 5 below), with only a miniscule net delivery in November. Once SREP was fully completed, a clear inflection point can be seen in the data. For seven of the first eight months of 2025 (orange bars), Transco has been a net supplier of gas to East Tennessee.So, we can surmise that a major change in how the East Tennessee Pipeline functions was brought about by the expanded capabilities on Transco, opening up new markets for Appalachian gas. East Tennessee has received 16 MMcf/d on average from Transco during the first eight months of this year, contrasting with the average of 36 MMcf/d that it sent to the Transco system in the same period of 2024 that contributed to the bottleneck.
FERC Reissues NESE Pipeline Project Certificate for NY, NJ -- Marcellus Drilling News - In May, pipeline giant Williams filed a 246-page request with the Federal Energy Regulatory Commission (FERC) to expedite the reissuance of a certificate for the Northeast Supply Enhancement (NESE) project, a billion-dollar-plus project designed to increase Transco pipeline capacity and flows of Marcellus gas heading into New York City and other northeastern markets (see Williams Files Request Asking FERC to Reissue NESE Cert in NY, NJ). Last Thursday, FERC did just that.
Enbridge Reaches FID on Algonquin Pipe Expansion in New England - Marcellus Drilling News - Coming out of left field, Enbridge (based in Canada, owner of significant Marcellus/Utica pipeline assets) announced yesterday that it had reached a final investment decision (FID) on two new pipeline projects, one of which will flow an additional 75 million cubic feet per day (MMcf/d) of Marcellus/Utica molecules through the Algonquin Gas Transmission pipeline throughout New England and the northeast. The project is called the Algonquin Reliable Affordable Resilient Enhancement (AGT Enhancement) project and is estimated to cost $300 million for "system upgrades within, or adjacent to, existing rights-of-way."
Sempra Eyes Mid-September Start for Port Arthur LNG Phase 2 Site Work ---Sempra Infrastructure is looking to start early site work for the second phase of Port Arthur LNG by the middle of September after recently securing additional offtake deals. At a Glance:
Sempra requests mobilization approval by Sept. 12
Phase 2 FID targeted by end of 3Q2025
Sempra inked 6 Mt/y in offtake agreements in August
FERC, DOE Actions Position Rio Grande and Commonwealth LNG for Near-term FIDs -- The chances of a wave of final investment decisions (FID) for LNG export projects this month have increased with a spate of key authorization decisions from federal regulators. At A Glance:
FERC delivers Rio Grande LNG final order
DOE authorizes Commonwealth LNG NFTA exports
Commonwealth awaiting pre-construction approvals
NextDecade Nearing FID on Rio Grande LNG Expansion After EQT Supply Deal --NextDecade Corp. has agreed to supply EQT Corp. with 1.5 million tons/year (Mt/y) of LNG from the fifth train at the Rio Grande export project in South Texas for 20 years at prices linked to Henry Hub. At A Glance:
FID on Train 5 expected before Nov. 15
Cost estimate for now holds near $6.7B
SPA marks EQT’s second binding LNG deal
U.S. Hits All-Time High for LNG Exports in August – 9.33 Million MT --- Marcellus Drilling News - - In August 2025, the United States achieved a brand new record high in liquefied natural gas (LNG) exports, exporting 9.33 million metric tons—surpassing April’s previous record of 9.25 million and July’s 9.1 million—as plants returned from maintenance and Venture Global’s Plaquemines facility expanded output. Plaquemines, a 27.2 MTPA plant that began operations in December 2024, contributed 1.6 million tons, or 17% of the total, and is expected to be fully operational in September. Europe took 6.16 million tons (66%, up from 58% in July) amid lower storage levels, while exports to Asia fell to 1.47 million tons. Egypt imported 0.57 million tons, and Latin America’s imports dropped to 0.69 million tons, with 0.37 million tons unallocated.
US sets new record for LNG exports in August - US exports of liquefied natural gas (LNG) reached an all-time high in August as plants exited planned maintenance programs and Venture Global's Plaquemines facility continued to increase output, preliminary data from financial firm LSEG show. August exports totaled 9.33 million tonnes, beating the previous monthly record set in April of 9.25 million tonnes and higher than the 9.1 million tonnes exported in July, according to LSEG data. Plaquemines is the second-largest LNG plant in the US with a capacity of 27.2 million tonnes per annum (MTPA) and has increased production every month since it started up in December 2024, helping the country to remain the world's largest LNG exporter. Plaquemines sold 1.6 million tonnes in August, or 17 per cent of total US exports, LSEG data showed. Plaquemines is still under construction but is expected to produce from all its 18 plants in September, potentially increasing output further, according to regulatory filings. Natural gas storage levels have been lower in Europe this year compared with 2024, without the usual rush to stockpile the fuel before the upcoming winter period as lower Asian imports create breathing room for European traders and governments. With little or no arbitrage between European and Asian gas prices, Europe continues to be the biggest destination for US LNG exports with 6.16 million tonnes, or 66 per cent of the total. That's up from 5.25 million tonnes, or 58 per cent, sold to the continent in July, LSEG ship tracking data showed. European gas prices fell in August to $11.13 per million British thermal units (mmBtu) at the Dutch Title Transfer Facility (TTF), down from $11.56 per mmBtu in July, according to LSEG data. In August, gas prices were also lower in Asia, as the benchmark Japan Korea Marker fell to $11.63 per mmBtu from $12.18 per mmBtu in July, LSEG data showed. Exports to Asia declined slightly during August to 1.47 million tonnes, down from 1.8 million tonnes in July, according to LSEG data. Egypt has been facing falling natural gas production, declining as low as 3,485 million standard cubic meters in April 2025 compared with a peak of 6,133 million standard cubic meters in March 2021. In June, the country announced it would ramp up LNG imports to meet power demand. Egypt in August bought nine cargoes of LNG that totaled 0.57 million tonnes, or six per cent of total US LNG exports, compared with the 0.59 million tonnes it bought in July, LSEG ship tracking data showed. US LNG exports to Latin America fell in August to 0.69 million tonnes, or seven per cent of total US exports, down from 1.03 million tonnes in July. The region was well-supplied from Trinidad and Tobago as the Shell and BP-owned Atlantic LNG plant has been producing at higher rates since June, exporting 0.8 million tonnes in August, according to LSEG data. Shell's LNG Canada plant at Kitimat on Canada's West Coast continued to increase exports from its Train 1, with five shipments totaling 0.4 million tonnes in August, up from 0.3 million tonnes in July, LSEG data showed. Four percent of US LNG exports, or 0.37 million tonnes, that left US ports had no clear destinations listed, signaling they were available for orders, LSEG ship tracking data showed.
Five Things to Know About U.S. EIA LNG Export Data - Key insights on the natural gas market provided by NGI's price and data analysts. Data centers may be grabbing most of the headlines these days, but LNG remains a key, if not the key, driver behind expected demand for U.S. natural gas through the end of the decade. We estimate LNG represented 12.5% of total U.S. gas demand during the first half of 2025 and expect that figure to rise to 20% by 2030. As such, understanding more of what is included in these data and what they represent is vital. We at NGI recently did a deep dive behind government data and found the following: while data are available from both the U.S. Energy Information Administration (EIA) and the U.S. Department of Energy (DOE), they are slightly different. North America LNG Export Flow Tracker chart showing U.S. LNG deliveries as of September 5, 2025. Bar graph tracks daily exports from August 27 to September 5, ranging between 15.3 and 16.2 million dekatherms per day. U.S. LNG facility data highlights key terminals: Sabine Pass, LA at 4.41 Bcf/d (77% capacity), Cameron, LA at 2.03 Bcf/d (86%), Plaquemines, LA at 3.26 Bcf/d (83%), Freeport, TX at 1.96 Bcf/d (72%), and Corpus Christi, TX at 1.57 Bcf/d (57%). Smaller volumes reported at Calcasieu Pass, Elba Island, and Cove Point. Golden Pass shows zero utilization. Canada’s LNG Canada and Mexico’s Energia Costa Azul are listed with no volumes reported. U.S. total deliveries recorded at 15.68 Bcf/d, up 29,037 dekatherms from the prior day. Map inset displays LNG terminal locations across the Gulf Coast, Mid-Atlantic, Canada, and Mexico. Source: NGI, Wood Mackenzie, Pipeline EBBs.
US natgas prices hold near 3-week high on demand forecast, rising oil futures —U.S. natural gas futures held near a three-week high on Tuesday on forecasts for higher demand this week than previously expected and a sharp increase in other energy futures. That lack of gas price movement came despite near-record output, ample supplies of gas in storage, a small decline in flows to liquefied natural gas export plants, and forecasts for milder weather and lower demand next week than previously expected. Front-month gas futures for October delivery on the New York Mercantile Exchange rose 1.2 cents, or 0.4%, to settle at $3.009 per million British thermal units, their highest close since August 7 for a second day in a row. U.S. markets were closed for the Labor Day holiday on Monday. That small gas price increase put the front-month up for a fifth day in a row for the first time since February. Oil futures rose after the U.S. imposed sanctions targeting Iran's oil revenue stream, and ahead of an OPEC+ meeting on Sunday in which analysts expect the group will not unwind remaining voluntary cuts. In the tropics, the U.S. National Hurricane Center projected a disturbance in the Atlantic Ocean near the Cape Verde Islands had a 70% chance of strengthening into a tropical cyclone as it heads west toward the Caribbean Islands over the next week. Financial firm LSEG said average gas output in the Lower 48 states fell to 107.6 billion cubic feet per day so far in September, down from a record monthly high of 108.3 bcfd in August. Record output has allowed energy companies to inject more gas into storage than usual this summer. Analysts said there was about 5% more gas in storage than normal for this time of year and expected that amount to grow in the coming weeks. Meteorologists forecast the weather will remain mostly near normal through September 17, which is about the same as previously expected. LSEG projected average gas demand in the Lower 48 states, including exports, would ease from 104.4 bcfd this week to 103.9 bcfd next week. The forecast for this week was higher than LSEG's outlook on Friday, while the forecast for next week was lower. The average amount of gas flowing to the eight big U.S. LNG export plants has slid to 15.6 bcfd so far in September, down from 15.8 bcfd in August. That compares with a monthly record high of 16.0 bcfd in April. On a daily basis, LNG export feedgas was on track to ease to 15.6 bcfd on Tuesday from an average of 15.8 bcfd last week due to decreases at a couple of plants, including Cheniere Energy's LNG 3.9-bcfd plant in Corpus Christi, Texas, and Cameron LNG's 2.0-bcfd plant in Louisiana. That decline in daily LNG feedgas came even though flows to Venture Global LNG's VG 3.2-bcfd Plaquemines plant in Louisiana were on track to rise to a record 3.3 bcfd on Tuesday. Berkshire Hathaway Energy's 0.8-bcfd Cove Point plant in Maryland is scheduled to shut around September 15 for about a month of planned annual autumn maintenance.
US natgas holds at 4-week high on recent declines in output — U.S. natural gas futures held near a four-week high on Thursday on recent declines in output. Front-month gas futures for October delivery on the New York Mercantile Exchange rose 1.0 cent, or 0.3%, to settle at $3.074 per million British thermal units, their highest close since August 6. The price rise, which pushed the contract into technically overbought territory for the first time since June, put the front-month up for a seventh day in a row for the first time since February. The contract has climbed about 14% over those seven days. A bigger-than-usual storage build, recent declines in flows to liquefied natural gas (LNG) export plants and forecasts for less demand next week than previously expected failed to materially move prices. The U.S. Energy Information Administration (EIA) said energy firms injected 55 billion cubic feet (bcf) of gas into storage during the week ended August 29. That was close to the 56-bcf build analysts forecast in a Reuters poll and compares with an increase of 16 bcf during the same week last year and an average build of 36 bcf over the past five years. In the tropics, the U.S. National Hurricane Center projected a disturbance in the central Atlantic Ocean had a 90% chance of strengthening into a tropical cyclone over the next week as it heads west toward the Caribbean Islands. Meteorologists at AccuWeather, meanwhile, said a lack of storms has allowed water temperatures in the Gulf of Mexico to surge to near record levels, increasing the risk of rapid intensification of a tropical storm or hurricane if it forms or enters the Gulf. Financial firm LSEG said average gas output in the Lower 48 states has fallen to 107.2 billion cubic feet per day so far in September, down from a record monthly high of 108.3 bcfd in August. On a daily basis, output was on track to drop even further to a preliminary eight-week low of 105.7 bcfd on Thursday. That figure compares with a daily record high of 109.6 bcfd on July 28. Preliminary data, however, is often revised later in the day. Meteorologists forecast the weather will remain mostly near normal through September 19, consistent with previous expectations. LSEG projected average gas demand in the Lower 48 states, including exports, would decline from 104.6 bcfd this week to 102.3 bcfd next week. The forecast for next week was lower than LSEG's outlook on Wednesday. The average amount of gas flowing to the eight big U.S. LNG export plants has slid to 15.6 bcfd so far in September, down from 15.8 bcfd in August. This month's figure compares with a monthly record high of 16.0 bcfd in April. On a daily basis, LNG export feedgas was on track to ease to 15.5 bcfd on Thursday, down from an average of 15.8 bcfd last week due to decreases at some plants, including Cheniere Energy's LNG 3.9-bcfd Corpus Christi facility in Texas and Venture Global LNG's VG 1.6-bcfd Calcasieu facility in Louisiana.
WhiteWater Unveils Its Latest Permian-to-Gulf Project: Eiger Express Pipeline - Crude oil production in the Permian may or may not have peaked — that’s TBD. What we do know is that even if the shale play’s oil output flatlines, the Permian will generate increasing volumes of natural gas (and NGLs) and virtually all of it will need to be piped to other markets, primarily the Gulf Coast to feed existing and planned LNG export terminals, gas-fired power plants and other large consumers. To keep pace with that undeniable need for more Permian-to-Gulf takeaway capacity, WhiteWater has announced plans, through its Matterhorn joint venture (JV), for yet another mountain-themed gas conduit to the coast. In today’s RBN blog, we discuss WhiteWater’s newly unveiled Eiger Express Pipeline. WhiteWater, with financial backing from I Squared Capital and FIC Partners Management, is a midstream powerhouse in Texas. It has developed a number of critically important gas pipelines, typically via JVs with other large midstreamers — a prime example being the 2.5-Bcf/d Matterhorn Express Pipeline, which is co-owned by WhiteWater (65%), ONEOK (15%), MPLX (10%) and Enbridge (10%). WhiteWater announced on August 25 that the company and its Matterhorn partners have made a final investment decision (FID) to build the 42-inch-diameter Eiger Express Pipeline (dashed dark-blue line in Figure 1 below). Eiger Express is 70% owned by the Matterhorn JV, with MPLX and ONEOK each holding 15% stakes incremental to their interests in the JV. Like Matterhorn Express (dark-green line), the new pipe will run from the Waha Hub in Pecos County, TX, to the Katy area west of Houston. It also will connect to the planned Traverse Pipeline (dashed magenta line) in Wharton County, TX. Supply for Eiger Express will be sourced from multiple connections in the Permian, including gas processing facilities in the Midland Basin, and from the Delaware Basin via the Agua Blanca Pipeline, a JV between WhiteWater, Enbridge and MPLX. (More on Agua Blanca later.)The 2.5-Bcf/d Eiger Express Pipeline is slated to begin commercial operation in the first half of 2028. Given the Permian’s frequently constrained natural gas landscape and rapidly rising gas-to-oil ratio (GOR; see Figure 2 below), the RBN Arrow Model anticipates that a new pipeline will be needed to provide incremental capacity and that the Permian-to-Katy corridor would be the most logical place for it to be developed. (More on that in a moment.)WhiteWater is, as we said, a top-tier midstream player in the region, and laser-focused on natural gas. It operates and holds ownership interests in a growing number of gas pipelines and other assets in Texas, New Mexico and Louisiana, including Whistler Pipeline (light-green line in Figure 1). Whistler, named after a snow-capped mountain and ski resort in British Columbia, came online as a 2-Bcf/d facility in July 2021; its capacity was expanded to 2.5 Bcf/d in September 2023.The Whistler Pipeline is one of several existing and planned pipelines that are now fully or partly owned by a WhiteWater-led JV with MPLX and Enbridge announced in March 2024. The JV itself — formally known as Whistler Pipeline LLC, or WPC — is 50.6% owned by WhiteWater, with MPLX holding a 30.4% stake and Enbridge owning the remaining 19%. To help make sense of gas flows in a two-state region with tens of thousands of miles of gas pipelines, RBN carved the region into pipeline “corridors” that can be used to assess changes in the region’s inflows, outflows and flows within each state via groups of pipes that serve similar markets from comparable supply sources. These pipeline corridors (green arrows in Figure 4 below) are aggregations of dozens of pipelines connecting key market hubs. There also are six more corridors that track volumes from LNG terminals, through which gas exits Texas and Louisiana in liquefied form on LNG carriers (dark-blue and light-blue arrows, respectively). The red arrows show gas exports to Mexico. The Arrow Model indicates that the new pipelines and pipeline expansions being planned — including the WPC JV’s recently expanded Traverse Pipeline project (new capacity, 2.5 Bcf/d) — will be sufficient to avoid major constraints through the late 2020s. It also suggests that at least 2 Bcf/d of new capacity along Corridor D (West Texas to the Texas Gulf Coast) will be needed by the early 2030s to move incremental volumes from the Permian to the Katy area. WhiteWater’s newly announced Eiger Express would appear to fill that need on the early side. The next question for the Arrow Model — and gas market players — is, what’s needed next? Two possibilities are Energy Transfer’s recently announced, 1.5-Bcf/d Transwestern expansion from West Texas to the Phoenix area and Tallgrass Energy’s proposed pipeline from the Permian to the Rockies Express (REX) pipeline. Notably, neither of these projects would bring Permian gas to the Gulf Coast.
By the Time I Get to Phoenix - Energy Transfer to Take Permian Gas West on Transwestern Expansion - Midstreamers developing natural gas takeaway capacity out of the Permian have understandably focused on pipelines to the Gulf Coast — and along the coast to LNG export terminals and other big gas consumers. But don’t forget the Desert Southwest, where demand for gas-fired power is soaring. Energy Transfer recently committed to building a 516-mile, 1.5-Bcf/d expansion to its Transwestern Pipeline system from West Texas to the Phoenix area, and hinted that it might double the project’s capacity due to the high level of interest. In today’s RBN blog, we discuss Energy Transfer’s aptly named Desert Southwest Project, what drove its quick progress to a final investment decision (FID), and what other westbound projects out of the Permian might still happen. RBN’s Arrow Model shows seven gas-pipeline corridors out of the Permian, four of them toward the Gulf Coast and the others to the Midcontinent, Central Mexico and the West. Of the roughly 19.3 Bcf/d of gas flowing out of the Permian this month, 67% (12.9 Bcf/d) is heading east toward the Gulf; only 13% (2.6 Bcf/d) is headed west toward Arizona and California. The vast majority of those westbound flows are on two pipeline systems: Energy Transfer’s Transwestern system (dark-blue lines in Figure 1 below), whose mainline takes a more northerly route through New Mexico and Arizona, and Kinder Morgan’s El Paso Natural Gas system (EPNG; light-purple lines), which has both northern and southern mainlines and more spurs and alternate pathways than you can shake a stick at. Both systems also pick up gas volumes from the San Juan Basin in northwestern New Mexico. Both systems also feed gas into other pipeline systems in Southern California, and EPNG feeds gas into pipelines in northwestern Mexico. Historically, both pipelines were driven by the very large loads in California, to the point that, at least on EPNG, the Desert Southwest shippers were simply known as “East of California.” The Transwestern and EPNG systems have each undergone a number of expansions over the past quarter-century, mostly — as you might expect — to help accommodate rising gas demand in fast-growing Arizona and Mexico and, to lesser degrees, New Mexico and California. But as we’ll get to next, those expansions — a couple of MMcf/d here and there — are nothing compared to what Energy Transfer and Kinder Morgan have each been pursuing the past couple of years, and what Energy Transfer recently committed to building.
Wary Of Gasoline Shortage, California Pauses Price-Gouging Penalty On Oil Companies California regulators fearing a dramatic drop in gasoline supply placed a five-year pause on Gov. Gavin Newsom’s penalty on oil industry profits Aug. 29.The decision is a blow to Newsom’s legislation aimed at penalizing the oil industry for allegedly driving up the state’s gas prices in 2022.California Energy Commission Vice Chair Siva Gunda said the state must shield motorists from price spikes at the pump even as it tries to transition to clean-energy fuel sources for transportation.The commission says the pause on its penalty program was needed to further study the industry.“We believe this additional time will increase industry confidence enough to secure investments in refinery maintenance and is therefore a prudent way to ensure employee safety and maintain a safe, reliable, affordable supply of fuel during this critical point in the transition to a carbon-free transportation system,” a spokesperson told The Epoch Times in an email Sept. 2. California drivers continue to pay the nation’s highest prices at the pump, with the cost exceeding the national average by more than a dollar per gallon, according to the federal Energy Information Administration. Fuel demand in the state has slowly dwindled since 2019 as more Californians switch to electric vehicles, but the decrease in demand is not fast enough to keep up with even sharper drops in the state’s fuel supply as refineries continue to leave.The state would need to increase overseas crude imports, possibly creating serious delays in fuel for consumers, which is what prompted staff to propose the regulatory pause, reported Drew Bohan, the energy commission’s executive director.The agency also hasn’t been able to prove Newsom’s claim that the oil industry was gouging. “The data at this point is just not sufficient to indicate that there’s ongoing market manipulation, or a structural failure, that would justify immediate regulatory intervention,” Bohan said. The decision sparked criticism from Consumer Watchdog, a California-based nonprofit that supported Newsom’s price-gouging law in 2023. “Gov. Newsom and the Energy Commission have abdicated their responsibility to protect consumers from price gouging,” the group’s president, Jamie Court, said in a statement. “By taking away the hammer of a penalty, the administration will leave consumers vulnerable to the same price spikes and profit spikes that struck in 2022. Gov. Newsom will be as much to blame as the oil refiners for the next price spikes because he left this job unfinished.”
Coast Guard responds to oil spill in Duluth Harbor; clean-up underway - The Coast Guard Marine Safety Unit (MSU) Duluth is responding to an oil spill that occurred in the Duluth Harbor. According to officials, the spill happened during a fuel transfer to a tank onboard a vessel around 11 a.m. Tuesday. Approximately 15 to 30 gallons of diesel oil was released. However, the cause of the spill is still under investigation. Immediately upon discovering the spill, the vessel initiated its response plan. Officials say the MSU is working closely with the affected vessel and local vacuum truck services to contain and clean up the spill. They added the source is secured. As of Wednesday morning, efforts are focused on containing and recovering the spilled oil with Coast Guard personnel on scene. The environmental impact of the spill is still being assessed. The port remains open and operational but officials request the public avoids the area until clean up is complete.
Where Will USA Oil Production Come From in 2025? | Rigzone --Total U.S. crude oil production, including lease condensate, is projected to average 13.41 million barrels per day this year in the U.S. Energy Information Administration’s (EIA) latest short term energy outlook (STEO) - but where will this oil come from? Well, in its latest STEO, which was released on August 12, the EIA forecast that 11.15 million barrels per day of the projected total figure of 13.41 million barrels per day will come from Lower 48 states, excluding the Gulf of America. Of this 11.15 million barrel per day figure, 6.53 million barrels per day will come from the Permian region, 1.18 million barrels per day will come from the Bakken region, 1.13 million barrels per day will come from the Eagle Ford region, 0.19 million barrels per day will come from the Appalachian region, 0.03 will come from the Haynesville region, and 2.09 million barrels per day will come from the rest of the Lower 48 states, the EIA projected in the STEO. The EIA expects the Federal Gulf of America to produce 1.83 million barrels per day of the total 2025 figure and Alaska to produce 0.43 million barrels per day of this year’s total U.S. crude oil production figure, the August STEO showed. The EIA’s latest STEO highlighted that total U.S. crude oil output, including lease condensate, averaged 13.21 million barrels per day in 2024. Lower 48 states, excluding the Gulf of America, produced 11.02 million barrels per day of that figure, the report pointed out. Of this 11.02 million barrel per day figure, 6.30 million barrels per day came from the Permian region, 1.23 million barrels per day came from the Bakken region, 1.16 million barrels per day came from the Eagle Ford region, 0.16 million barrels per day came from the Appalachia region, 0.03 million barrels per day came from the Haynesville region, and 2.15 million barrels per day came from the rest of the Lower 48 states, the EIA’s August STEO highlighted. The Federal Gulf of America provided 1.77 million barrels per day of the total 2024 U.S. crude oil production figure, and Alaska produced 0.42 million barrels per day, the EIA’s latest STEO showed. In its August STEO, the EIA projected that total U.S. crude oil output will average 13.39 million barrels per day in the third quarter of this year and 13.50 million barrels per day in the fourth quarter. This production came in at 13.28 million barrels per day in the first quarter and 13.46 million barrels per day in the second quarter, the EIA’s latest STEO highlighted. The EIA projected in the STEO that Lower 48 states, excluding the Gulf of America, will produce 11.16 million barrels per day in the third quarter and 11.20 million barrels per day in the fourth quarter. Production from this segment was 11.06 million barrels per day in the first quarter and 11.19 million barrels per day in the second quarter, the STEO pointed out. Federal Gulf of America production is forecast in the STEO to average 1.82 million barrels per day in the third quarter and 1.86 million barrels per day in the fourth quarter. Alaska output is projected to come in at 0.40 million barrels per day in the third quarter and 0.44 million barrels per day in the fourth quarter, in the STEO. The STEO showed that Federal Gulf of America production averaged 1.79 million barrels per day in the first quarter and 1.84 million barrels per day in the second quarter. It pointed out that Alaska production came in at 0.44 million barrels per day in the first quarter and 0.43 million barrels per day in the second quarter. The EIA’s August STEO outlined that its Federal Gulf of America production figures comprise crude oil production from U.S. Federal leases in the Gulf of America. It also highlighted that its Lower 48 states regional production figures are based on geographic regions and not geologic formations.
Canadian Export Projects Reach More Milestones as Momentum Grows – The LNG Canada export terminal in British Columbia (BC) has loaded its 10th cargo. The Shell-plc operated facility marked the milestone about two months after it entered service and loaded its first cargo at the end of June. Kpler vessel-tracking data showed the Petronas-controlled Puteri Sejinjang loaded the 10th cargo on Sept. 1. It is now headed for South Korea. The Mitsubishi Corp.-controlled Diamond Gas Victoria is floating near the facility and scheduled to arrive Saturday, according to Kpler. Both Petronas and Mitsubishi have stakes in the 14 million tons/year (Mt/y) facility, along with PetroChina Co. Ltd. and Korea Gas Corp. A second 14 Mt/y phase of the project is under consideration, but has not been sanctioned yet.
Amigo CEO Unfazed by China-Russia Deal as Guaymas LNG Backed by U.S, Mexico - - The CEO of Singapore’s LNG Alliance Pte. Ltd said his company is heading closer to a final investment decision (FID) on the Amigo LNG project set for Guaymas in Mexico’s Sonora state. Map showing the proposed Amigo LNG export facility near Guaymas, Sonora, Mexico, with operational and proposed natural gas pipelines, major import and export points, and NGI’s Mexico gas price index locations. The map highlights connections to the Waha Hub in Texas, key Mexican cities such as Ciudad Chihuahua, Hermosillo, and Torreón, and LNG facilities along Mexico’s Pacific Coast. At A Glance:
Permian supply anchors Mexico export plan
Two-barge design targets easier maintenance
Honeywell provides automation, safety systems
Long-hidden methane leak in Darwin raises fresh doubts over Australia's climate action - Environment groups have called for federal intervention following revelations that an LNG export hub in Darwin has emitted large volumes of methane from an LNG storage tank since 2006.The ABC on Monday revealed years of failures to address the leak. State and federal authorities reportedly approvedSantos' controversial 25-year Barossa offshore gas project without requiring the leak to be repaired or replaced.The incident adds to serious doubts about whether Australia can meet its commitment to reduce emissions ofmethane, a highly potent greenhouse gas.The vital pledge will only be met if governments and industry prioritize climate action and human health over profits.The Darwin case demonstrates dangers of relying on industry to assess and manage risks to the climate and human health.The leak involved an enormous above-ground tank which contained highly processed methane derived from LNG (liquefied natural gas).According to the ABC, the leak was caused by a design flaw. The reports said the tank's original owner, ConocoPhillips, discovered the leak in 2006 and reported it to the Northern Territory's Environmental Protection Authority (EPA), describing the emissions as "minute." The tank held gas for the next 18 years. Two measurements using drone technology, in 2019 and 2020, reportedly indicated the leak was bigger than initially thought—up to 184 kilograms of methane was leaking per hour. This was not reported to the EPA until months later, according to the ABC. Gas giant Santos now operates the tank, which is now reportedly empty. But it's set to be filled again, as part of Santos' Barossa gas project. The ABC says state and federal regulators have not forced Santos to repair or replace the tank, adding: "They and the company say the leak is stable, and poses a moderate climate risk but no immediate threat to the public or the environment." Santos told the ABC regulatory approvals and an ongoing monitoring program were in place, and the company reports its greenhouse gas emissions annually.
Arctic LNG 2 Vessel Reaches China as U.S. Export Projects Grow — The Offtake --A look at the global natural gas and LNG markets by the numbers
- 9 Mt: U.S. LNG exports reached a new high in August as commissioning LNG terminals continued to ramp up to meet swelling spot demand. Terminals on the Gulf Coast shipped 9 million tons (Mt) during the month, 1.77 Mt more than the same period last year, according to Kpler data. August’s total eclipsed previous records set in February and March of this year.
- 3.6 Bcf/d: The countdown has started for the last of the liquefaction blocks at Plaquemines LNG to begin production. At the end of last month, FERC staff approved Venture Global Inc. to commission block 15 with nitrogen gas, a key move before production begins. The Federal Energy Regulatory Commission has granted Venture Global permission to introduce feed gas to block systems roughly two weeks after commissioning began with nitrogen, according to filing data and NGI calculations. The firm has yet to submit requests for commissioning of block 17, the last pair of trains still under construction at the 3.6 Bcf/d capacity project.
- 0.08 Mt: A vessel carrying LNG from the sanctioned Arctic LNG 2 facility in Russia has reportedly discharged volumes at a Chinese import facility for the first time. By mid-September, Kpler estimates vessels could deliver 0.08 Mt, or roughly one and a half cargoes, to Chinese terminals. Ships previously idled around the facility in the Arctic circle began moving toward Asia at the end of August, shortly after bilateral meetings between the United States and Russia in Alaska.
- 25 Mt/y: Another 25 Mt/y has been added to the backlog of projects seeking FERC approval after a pre-filing by Argent LNG LLC. After signing equipment contracts and a tentative offtake deal with Bangladesh Oil, Gas & Mineral Corp., aka Petrobangla, Argent is asking federal regulators to review plans for its 25 Mt/y capacity export project proposed for Port Fourchon, LA. The terminal is a part of 262.7 Mt/y in proposed export projects in various degrees of development that have not yet reached a final investment decision, according to NGI’s LNG Project Tracker.
Russia and China Ink Deal for Massive New Gas Pipeline -- Russia’s gas giant Gazprom on Tuesday signed an agreement with China’s state energy firm CNPC to build a second huge natural gas pipeline from Russia to China, Gazprom’s CEO Alexey Miller said. Russia bets on selling increased volumes of energy products to China after losing Europe as a key oil and gas export market following Putin’s war in Ukraine.Gazprom and CNPC signed today a “legally binding memorandum” on the construction of the Power of Siberia 2 gas pipeline from Russia to China via Mongolia, Russian media quoted Miller as telling reporters in Beijing. Power of Siberia 2 has been a topic of discussions between Russia and China for years but no progress has been made so far. Currently, Russia supplies pipeline gas to China via the Power of Siberia pipeline, one of the biggest projects recently completed by Gazprom and the first conduit for Russian gas to China. The Power of Siberia 2 pipeline is designed to ship gas from Russia’s Western Siberia Altai region to northeast China via Mongolia. An agreement on the Power of Siberia 2 has been elusive due to some sticking points, including the price at which Gazprom will deliver the gas.The memorandum signed on Tuesday doesn’t include details and issues such as prices or capacity commitments, so the key sticking points remain. “It should be understood that the project of the Power of Siberia 2 gas pipeline construction and the Soyuz Vostok gas pipeline construction, the transit gas pipeline via Mongolia and related gas transport facilities in China, it will now be the largest, having the greatest scale and the most capital-intensive project in the gas industry globally,” Russian news agencies quoted Miller as saying on Tuesday. Russia touted the project as the biggest ever in the global gas industry, while China has yet to confirm the deal, which is light on details.
Russia Remains India’s Top Oil Supplier Despite U.S. Pressure --Russia kept its number-one spot as the biggest crude oil supplier to India in July, despite U.S. pressure on India over its continued imports of Russian crude. Amid difficult U.S.-India trade talks, the Trump Administration has singled out India to punish as a buyer of Russian crude. After weeks of threats, the U.S. hiked from August 27 the tariff on imports of Indian goods to a massive 50%, with 25% of this due to India’s Russian oil purchases. The world’s third-largest crude oil importer, India, has significantly boosted Russian oil imports since 2022, when Russia’s oil was banned in the West. Russia currently accounts for about a third of India’s oil purchases, becoming the single largest crude supplier to India.The latest government data for July shows that buyers remained unfazed by the U.S. pressure—and Russia provided 31.4% of all crude imports into India, local media reported on Monday. The second-biggest oil supplier, Iraq, held a much lower share of Indian supply, at 17.1%, and the third-largest supplier, Saudi Arabia, held a 16.1% share of the Indian crude imports in July, according to the data. The value of India’s crude oil imports from Russia was $3.6 billion, with Iraqi and Saudi sales at about $2 billion each, the figures showed. U.S. officials have intensified pressure on India for its Russian oil imports. “India’s dependence on Russian crude is opportunistic and deeply corrosive of the world’s efforts to isolate Putin’s war economy,” the White House trade adviser Peter Navarro wrote in an op-ed published in the Financial Times in the middle of August. “India’s dependence on Russian crude is opportunistic and deeply corrosive of the world’s efforts to isolate Putin’s war economy,” Navarro wrote. Russia and India, however, have talked up their strategic partnership with high-level meetings and visits since the U.S. tariff threat, and have reiterated their strategic alliance and cooperation in the energy sector—a sign that India isn’t giving up on Russia’s cheap crude.
Indian Oil Minister Defends Russian Oil Imports | Rigzone -- India rebutted mounting US pressure to end crude imports from Russia, with Oil Minister Hardeep Puri arguing that the flows had helped to shield the global economy from a price spike, while also directly challenging blunt language used by White House adviser Peter Navarro. “India’s adherence to all international norms prevented a catastrophic $200 per barrel shock,” Puri said in a column in The Hindu newspaper on Monday. “Some critics allege that India has become a ‘laundromat’ for Russian oil. Nothing could be further from the truth.” Oil traders are focused on New Delhi’s buying after Washington doubled tariffs on many Indian imports to 50 percent to try to end the war in Ukraine. As part of the drive - which has not been matched by similar US action against China, another big importer - Treasury Secretary Scott Bessent accused the country’s wealthiest families of profiteering, and Navarro said the nation was fueling “the Russian war machine” and “nothing but a laundromat” for the Kremlin. “India has not broken rules,” Puri wrote, adding that its imports were compliant with a Group of Seven price-cap mechanism that was designed to limit Moscow’s revenues yet also keep crude flowing. “India has stabilized markets and kept global prices from spiraling.” Puri’s commentary came as Indian Prime Minister Narendra Modi met with Russian President Vladimir Putin at a regional summit in China on Monday. Conversations with Putin “are always insightful,” Modi said in a post on X on Monday as the pair exchanged views. Russia, which previously held a negligible share of India’s oil imports, has accounted for 37 percent of the world’s third largest oil consumer buys this year, according to Kpler data. India took advantage of a $20 a barrel discount on delivered basis after Europe halted purchases in the wake of the Ukraine war. However the discounts have narrowed to a tenth of that as sanctions tightened. India is unlikely to stop Russian imports unless a global ban is imposed, as the issue is morphing into a political decision on the nation’s freedom to choose rather than a purely economic one, analysts at CLSA including Vikash Kumar Jain said in a note last week. “The truth is that there is no substitute for the world’s second-largest producer supplying nearly 10 percent of global oil. Those who are pointing fingers ignore this fact,” Puri said.
India Saves $12.6 Billion on Oil Import Bill With Russian Crude -- India’s savings from discount Russian crude since 2022 have reached $12.6 billion, the Indian Express has calculated, although there could be much higher implied savings, the media outlet reported. The implied savings stem from the fact that India’s Russian oil ramp-up helped avoid a major international oil price hike following the events from February 2022, when Russian troops entered eastern Ukraine, and the European Union, the UK, the U.S., and Canada rushed to impose sanctions on Moscow, specifically targeting the energy industry. However, none of these countries would have enjoyed a Brent crude spike above $100 for more than a few months, and indeed none of them did enjoy the spike while it lasted. So it was made sure that prices would decline, including by redirecting the flow of Russian oil from the West to the East, notably to China and India. According to the Indian Express report, “This may be among the reasons why India has shown no signs of buckling under American pressure on the issue of oil imports from Russia.” The pressure has recently intensified, with the White House senior counselor for trade and manufacturing accusing India of “profiteering” from Russian oil imports. Peter Navarro also claimed that India was “nothing but a laundromat for the Kremlin”, referring to New Delhi importing cheap Russian oil and selling the refined fuels at higher prices in Europe and Asia. In a response this week, India’s oil minister noted that “Russian oil has never been sanctioned like Iranian or Venezuelan crude; it is under a G-7/European Union price cap system deliberately designed to keep oil flowing while capping revenues.” Hardeep Singh Puri added that “India's adherence to all international norms prevented a catastrophic $200 per barrel shock,” and that “there is no substitute for the world’s second-largest producer supplying nearly 10% of global oil.”
India Floods Europe With Diesel: Exports Double Ahead Of EU’s Russian Oil Ban -India’s diesel exports to Europe more than doubled in August as buyers rushed to secure cheaper supplies ahead of the European Union’s ban on fuels refined from Russian crude, set to take effect in January 2026, market analysts said. According to data from global analytics firm Kpler, India shipped around 242,000 barrels per day (bpd) of diesel to Europe in August, a figure more than twice that of the same month last year. On average, India’s diesel exports have jumped 124 Percent over the past 12 months, highlighting its growing role as a supplier to the continent. Analysts attribute the surge not only to the upcoming EU sanctions but also to supply disruptions caused by an unexpected maintenance shutdown at Shell’s Pernis refinery in the Netherlands. The approaching winter season has further boosted European demand for diesel imports. The EU’s latest sanctions package prohibits imports of refined products made from Russian crude—even if they are processed abroad, such as in India. This measure is expected to impact refiners like Reliance Industries and Nayara Energy, which have been among the biggest suppliers of diesel to Europe. In addition, the EU has tightened its oil price cap, lowering it from USD 60 to USD 47.6 per barrel, and introduced an automatic review mechanism to keep the cap consistently 15% below the six-month average market price of Urals crude. The aim is to add predictability for operators while maintaining downward pressure on Moscow’s energy revenues. The EU has also expanded its scrutiny of Russia’s “shadow fleet,” adding more merchant vessels to its sanctions list, though three LNG tankers were delisted after commitments they would no longer carry Russian fuels. Meanwhile, crude prices eased on Friday. Benchmark Brent crude slipped to USD 66.80 a barrel, while U.S. West Texas Intermediate (WTI) fell 0.36 percent to USD 63.25. Analysts said the drop followed expectations of increased output from the OPEC+ group and a rise in U.S. stockpiles.
Saudi Arabia and Iraq Suspend Oil Sales to Sanctioned Indian Refinery --Saudi Aramco and Iraq’s state oil marketing company SOMO have stopped selling crude oil to the Nayara Energy refinery in Vadinar, India, following the release of the European Union’s 18th sanction package on Russia, adopted last month.Reuters reported, citing unnamed sources, that the refinery, in which Russia’s Rosneft has a 49.13% stake, was running at 70-80% of capacity because buyers are in tight supply after the sanctions. As for crude supply, Nayara Energy is processing only Russian oil supplied by its part-owner, according to the Reuters report, which cited LSEG data.The Vadinar refinery has a capacity of 400,000 barrels daily and accounts for 8% of India’s total refining capacity. It is the second-largest refinery in the country. The latest European Union sanctions have been quite damaging for the facility with regard to exports. So the refinery has focused on the domestic market.In fact, as Natalia Katona reported for Oilprice in mid-August, exports were never the priority for the Nayara Energy refinery. It was oriented towards the local fuel market from the start, and in exports, it mostly sold jet fuel to the UK, which is not party to the EU sanctions and has not yet imposed any restrictions on the Rosneft-owned refinery.Even so, Bloomberg reported last month that Nayara Energy’s crude oil imports for the month were expected to drop to the lowest since it started operations, at an estimated 94,000 barrels daily. That compares with an average import rate of 366,000 barrels daily for the third quarter of last year. In its 18th sanction package, the EU expanded sanctions on entities doing business with Russian oil, including via asset freezes, travel bans, and bans on providing resources. The bloc sanctioned Russian and international companies managing shadow fleet vessels, traders of Russian crude oil, and specifically Nayara Energy, a major customer of the Russian oil industry, in the face of its co-owner, Rosneft.
Russian Black Sea terminal suspends operations after oil spill from tanker -Tanker operations were halted at part of the Caspian Pipeline Consortium (CPC) terminal in Russia following a minor oil spill. Crude leaked during a ship loading at the Novorossiysk facility in the Black Sea on 29 August, the consortium said, and loadings were suspended for an “indefinite period” at single point mooring 2. Crude loading at the CPC terminal in Russia. Read more Aframax cargoes axed as maintenance hits volumes at major Black Sea terminal The exact volume of the spill has not yet been ascertained. A clean-up operation began immediately, CPC said, while the cause is under investigation. The ship involved was not named. “All available resources were deployed to the affected area. Continuous environmental monitoring is being carried out, with samples taken regularly,” CPC said. It blamed “a marine breakaway coupling of a floating hose having been activated during tanker loading”. The containment and clean-up operation involved 13 tugs, four small boats, five oil skimmers and nine floating tanks. More than 1,000 metres of booms were deployed. The terminal is the outlet for Kazakhstan’s crude exports. The Russian state owns 24% of CPC. Chevron, Lukoil, Shell, ExxonMobil and Rosneft are also shareholders. Waste from the leak was delivered to the terminal for disposal. Sea surface and air environmental monitoring was continuously in progress during the operation and will continue, with samples taken at least twice daily, CPC added. Last month, aframax loadings were scrapped there as maintenance reduced export volumes. Traders told S&P Global Platts that the September programme at the terminal will comprise 46 suezmax cargoes, compared with 41 suezmax and 11 aframax stems in August. Some sources believe maintenance at the terminal could explain the lack of aframax cargoes in a shorter September programme.
Caspian Pipeline Consortium completes cleanup operation after spill - The Caspian Pipeline Consortium (CPC) said on Saturday that cleanup operations had been completed following an accident and oil spill at its Black Sea terminal. The spill had prompted the company, which handles more than one per cent of global oil, to suspend operations at two mooring points. A CPC statement said it had suspended the emergency operation after examining surface conditions near the site. The volume of the oil leak was being clarified and an investigation conducted into the causes of the accident. "The site of the oil spill was quickly localised, as was attested to by the relevant oversight bodies," it said. Collected waste was turned over to the terminal for further disposal. The CPC exports mainly from Kazakhstan via Russia and the Black Sea terminal. It normally deploys three mooring points, with one usually acting as a backup. CPC, whose shareholders include US majors Chevron and Exxon Mobil, said that one mooring point, SPM-1, had remained operational. CPC has been in the spotlight during Russia's conflict in Ukraine. The consortium closed all but one of its mooring points several times in 2022 due to damage severely cutting exports via the route. Its operations have been interrupted this year, including by a drone strike.
Türkiye boosts hydrocarbon drive with 55 drilling rigs, including new domestically built towers -Türkiye is stepping up its hydrocarbon exploration with 55 drilling rigs, including three domestically built towers, as part of efforts to expand local production and achieve energy independence. The Energy and Natural Resources Ministry said the country has been rapidly adding new technologies to its inventory to maximize the use of local energy resources and strengthen its energy independence strategy. In May 2021, drilling efforts in the Gabar Mountain, in the southeastern city of Sirnak, led to the discovery of 36 API gravity crude at the Sehit Esma Cevik-1 well. Production began in late 2022, and subsequent discoveries at the Sehit Aybuke Yalcin field reached 41 API gravity by April 2023. The Gabar field has since become Türkiye's most productive site, generating an estimated $2.3 billion annually while reducing crude imports. In an effort to increase production adn reduce foreign dependence, Türkiye is boosting its use of homegrown drilling technology. The domestically developed "Koca Yusuf TP1500" rig began operations in Gabar in April 2024. Two new locally manufactured towers, "Seyit Onbasi" and "Naim Suleymanoglu", were added to the fleet on Aug. 27, 2025. The Seyit Onbası rig is operating in the Atak-3 well in Sirnak's Silopi district, while the Naim Suleymanoglu rig is drilling at the Sehit Aybuke Yalcin-71 well in Gabar. Both towers, each with a height of 43.2 meters and a hook load capacity of 357 tons, are capable of drilling up to 5,000 meters. They operate with national drilling software, the ministry said. Türkiye's daily oil consumption is about 1 million barrels. Officials say rising domestic production, supported by local technology, will continue to reduce the country's reliance on imported energy.
Syria resumes heavy crude oil exports from Tartus port after years of suspension -- Syria resumed heavy crude oil exports from the Tartus terminal on the country’s western coast for the first time in years, the Energy Ministry said Monday. In a statement, the ministry said 600,000 barrels of heavy crude oil were exported on Monday from the Tartus terminal aboard the tanker Nissos Christiana for the benefit of B Serve Energy Company. The ministry described the shipment as part of government directives and state oil company plans "to strengthen Syria’s presence in foreign oil markets," saying further export operations are planned in the coming period. The statement hailed the move as an important step in revitalizing the oil sector and expanding cooperation with international companies. In June, Syria resumed exports of non-crude petroleum products from the Baniyas refinery in Tartus province, sending an initial shipment of 30,000 metric tons to international markets. Baniyas, about 35 km north of Tartus, is home to Syria’s largest refinery and a specialized oil port. Before Syria’s civil war in 2011, oil accounted for 20% of the country’s GDP, half of its exports, and more than 50% of state revenues. The country produced 390,000 barrels per day in 2010, but output fell sharply to around 40,000 bpd in 2023. During 14 years of unrest, Syria relied heavily on Iranian oil shipments for electricity generation, but supplies were cut after the ouster of Bashar al-Assad in December 2024. Assad, Syria’s leader for nearly 25 years, fled to Russia, ending the Ba'ath Party regime, which had been in power since 1963. A new transitional administration led by President Ahmad al-Sharaa was formed in January.
Korea Coast Guard apprehends oil-spill vessel off Busan - A vessel that spilled oil in the middle of the night in the sea off Busan and fled was apprehended after an investigation by the Korea Coast Guard. According to the Namha Korea Coast Guard on the 3rd, an oil tanker (23-ton class) spilled 50 liters of waste oil and fled around 11 p.m. on the 28th of last month near Busan Bridge in Yeongdo-gu, Busan. The coast guard, dispatched after receiving a citizen’s report, collected 11 samples of the spilled oil and samples from nearby vessels. The Namha Korea Coast Guard (KCG) applied the oil fingerprinting technique, which precisely compares the components of the two samples, to identify the vessel showing a similar pattern as the suspect. The captain apprehended by the coast guard admitted fault, stating, “The waste oil drum fell over during oil transfer operations, causing the oil to spill into the sea.” A Namha KCG official stated, “Dumping oil into the sea is a criminal act that seriously damages the marine environment,” and added, “We will actively utilize advanced analytical techniques to eradicate illegal pollution activities.”
Oil spill puts hundreds of hectares of farmland in Indonesia's South Sulawesi at risk– PT Vale Indonesia, Indonesia’s second-largest nickel producer, is under scrutiny following an oil pipeline leak in South Sulawesi that has contaminated rivers and farmland. The leak, detected on Tuesday in the village of Lioka in Towuti district, about 20 kilometers from Vale’s processing plant, has affected water sources and irrigation systems across five villages. Local agriculture officials estimate that at least 50 hectares of rice fields in Lioka have been damaged, with more land in Matompi and Timampu at risk, warning that the contamination could impact hundreds of ha of farmland if containment measures take too long. “There were indeed plans for the farmers to start working on their rice fields this week, but since the water is still contaminated, we have asked them to postpone,” said Mila Novitasari, an agricultural extension officer at East Luwu, was quoted as saying by news agency Antara on Wednesday. The South Sulawesi chapter of environmental NGO Walhi urged the government to impose strict legal penalties. “This is extraordinary environmental pollution in the category of a serious violation and should be prosecuted. The government must be brave and serious, indiscriminate against companies committing environmental pollution,” said Al Amin, Walhi’s executive director, as reported by Antara on Thursday. He warned that the consequences go far beyond technical failure, impacting vital resources for daily life. “You can imagine the impact, the river that has been used by the community and rice fields has become a source of polluted life,” he said. Walhi demanded that Vale’s environmental permit be revoked, along with its Green PROPER rating, an annual government award the miner consistently earned for exceeding environmental standards. “There is no mercy for PT Vale Indonesia, it must be strongly sanctioned by the state. Based on Law No. 32 of 2009 and the environmental cluster of the Job Creation Law, this company should be subject to heavier sanctions,” he said. South Sulawesi Governor Andi Sudirman Sulaiman has pressed Vale Indonesia to act swiftly and restore damaged areas, emphasizing the need for strict operational safety standards. “I have instructed the South Sulawesi Energy and Mineral Resources Agency to visit the site and ensure immediate measures are taken to minimize and mitigate the impact,” Sudirman told Antara on Tuesday. He urged Vale not to neglect environmental risks or community safety. In response, Vale said it was coordinating with local authorities, including the Disaster Management Agency, the Environmental Office, the police and the Indonesian Military, to handle the matter transparently. “We ask for your support as we work through this incident. This situation has strengthened the company’s commitment to crisis mitigation and to accelerating recovery efforts in the affected areas,” said Endra Kusuma, head of external relations at Vale Indonesia, in an official statement on Tuesday. The company confirmed that the leak was caused by ground movement that damaged an old water distribution pipeline used during former mining operations. The liquid seeped into nearby settlements, farmland and parts of the river. While no casualties have been reported, residents remain concerned as water sources are contaminated and crop failures are likely. To manage the impact, Vale has deployed oil booms, oil traps and containment barriers, while also conducting soil and water testing. The company has opened a complaint and information center for affected residents and pledged full environmental and social restoration. It said it had formed a team tasked with assessing the impact and ensure follow-up actions are accountable and measurable. “The safety of the community and environmental preservation are non-negotiable priorities. We are committed to handling this incident transparently and responsibly, with measurable actions and collaboration from all parties,” Vale’s director and chief sustainability & corporate affairs officer, Budiawansyah, said in a statement on Wednesday. .
Tanker and bulk carrier collide off Tanah Merah, oil sheens reported - As announced, the Master of Marine Dynamo reported that the incident occurred at approximately 9:25 AM local time on 1 September. Both vessels involved remain stable. However, light oil sheens have been observed in the vicinity of Marine Dynamo. According to the Master, Marine Gas Oil (MGO) used for the vessel’s propulsion which was stored in a service tank above the waterline spilled as a result of the collision. MGO, a light fuel similar to diesel, is expected to evaporate and degrade readily in the environment. Furthermore, one crew member from Marine Dynamo sustained minor bruises and sprains and is receiving treatment onboard. All crew members from both vessels are safe and accounted for. The Maritime and Port Authority of Singapore (MPA) has deployed patrol and spill response craft to assess the situation and assist in dispersing the oil sheens. Drones have also been deployed for aerial monitoring, as well as a navigational broadcast has been issued to alert nearby vessels. As stated, there is currently no impact on navigational safety and MPA will conduct an investigation into the incident.
EOG Resources and ADNOC Start Drilling at UAE Shale Play --Abu Dhabi’s oil and gas giant ADNOC has drilled some horizontal wells and tested oil to the surface at a shale play in the United Arab Emirates operated by EOG Resources, the chief executive of the U.S. shale giantsaid at a conference. In May, EOG Resources was awarded a new oil exploration concession for Unconventional Onshore Block 3 (UCO3) by Abu Dhabi. The concession area is nearly 900,000 acres, in an over-pressured, oil prone basin within the Al Dhafra region of Abu Dhabi. EOG holds 100% equity and operatorship and, in coordination with Abu Dhabi National Oil Company, will explore and appraise unconventional oil in the concession area, the U.S. oil and gas producer said.“Following a three year appraisal phase, EOG may enter into a production concession in which ADNOC has the option to participate. EOG currently expects to begin drilling in the second half of 2025 with no change to the company's 2025 capital plan,” it added.At the Barclays CEO Energy-Power Conference on Tuesday, EOG’s chief executive, Ezra Yacob, said that ADNOC had drilled and tested oil to the surface at the shale formation in the UAE.EOG is looking to develop shale resources in the UAE’s oil play, as well as a shale gas play in Bahrain, where the U.S. firm has signed a strategic exploration agreement with the national energy firm BAPCO.“We have captured abundant resource in both plays, and we’ve partnered with companies that we have very, very strong stakeholder alignment with,” Several countries with huge untapped shale resources have recently started to explore their unconventional oil and gas potential. Canada, Argentina, Algeria, China, and Saudi Arabia have ambitions to replicate the U.S. shale success. EOG’s know-how could help the UAE join the group of shale producers in a few years.
Iran Oil Exports Hit Record High Despite Sanctions and Conflict Iran’s crude oil and condensate exports have reached a new high over the past 12 months despite the imposition of 14 U.S. sanction packages totaling 465 measures, including the toughest oil-related restrictions since 2018. According to the Iranian Oil Ministry’s news service, oil exports remain a critical driver of the economy, accounting for 30 to 40 percent of government revenue and supporting infrastructure, industrial development, and social programs, while also serving as a key instrument of energy diplomacy.Independent trackers confirmed the increase. Data from Kpler showed shipments to China reached 1.81 million barrels per day in March, 22 percent higher than the 2024 average. The International Energy Agency reported exports averaging nearly 1.7 million barrels per day in the first half of 2025, while Vortexa recorded a peak of 1.8 million barrels per day in late June, coinciding with 12 days of armed conflict involving Iran.Officials attributed the rise to the resilience of the oil sector workforce and adaptive strategies under pressure. Oil Minister Mohsen Paknejad said in February that the industry continues to respond with increasingly sophisticated measures to counter tightening restrictions.
US sanctions Iraqi oil network accused of covertly smuggling Iranian oil -- The Trump administration sanctioned an Iraqi oil network Tuesday that it accused of covertly working to sell Iranian oil on the international market. The Treasury Department announced sanctions on Iraqi-Kittian dual national Waleed al-Samarra’i and a network of ships and companies it said he owns and uses to smuggle Iranian oil. The agency said in a statement that al-Sarmarra'i seeks to conceal the oil's true origin by blending it with Iranian oil and marketing it as solely Iraqi. The scheme has produced hundreds of millions of dollars in revenue for the businessman and the Iranian government, it alleged in a statement. “Iraq cannot become a safe haven for terrorists, which is why the United States is working to counter Iran’s influence in the country,” said Treasury Secretary Scott Bessent. “By targeting Iran’s oil revenue stream, Treasury will further degrade the regime’s ability to carry out attacks against the United States and its allies. We remain committed to an oil supply free from Iran and will continue our efforts to disrupt the ongoing attempts by Tehran to evade U.S. sanctions.” The Treasury Department said al-Samarra’i is based in the United Arab Emirates (UAE), and sanctioned him, as well as two UAE-based companies -- Babylon Navigation DMCC (Babylon) and Galaxy Oil FZ LLC (Galaxy Oil). Nine Liberia-flagged ships operated by Babylon to blend the oil at sea and at Iraqi ports are also being blacklisted, as are five Marshall Islands-based shell companies, according to the Treasury Department.
Saudi Arabia Leads OPEC Output Increase -- OPEC crude production rose by about 400,000 barrels per day (bpd) in August, reaching 28.55 million bpd, according to a Bloomberg survey published on Wednesday. Saudi Arabia accounted for just over half of the increase, restoring barrels previously curbed under voluntary cuts. The United Arab Emirates and Nigeria also contributed, while Libya managed modest gains as security conditions improved around key terminals. The production rise comes as OPEC+ ministers are preparing to meet this Sunday, with speculation building that the alliance could authorize an additional increase beyond the already-scheduled unwinding of voluntary reductions. Those rumors pressured prices earlier this week, with Brent slipping as traders digested reports of a potential supply ramp-up.The U.S. benchmark, West Texas Intermediate (WTI) was trading down at $63.00 per barrel following the release of the Bloomberg survey...The moves highlight market sensitivity to even modest shifts in OPEC output, particularly as inventories in the U.S. and Europe remain above seasonal averages.Internal dynamics within OPEC+ are also in focus. Kazakhstan boosted its August production by more than 2% compared to July, stretching beyond its quota, while Iraq continued to lift exports despite ongoing disputes with the Kurdistan Regional Government, demonstrating the challenge of maintaining compliance as prices incentivize members to bring additional barrels to market.With roughly 1.65 million bpd of voluntary curbs still on the books, according to OPEC+ agreements, the bloc retains a solid buffer of withheld supply.Saudi Arabia and Russia account for the bulk of these pledged reductions, while smaller portions are spread across Kuwait, the UAE, and Kazakhstan.The upcoming Sunday session will revisit how quickly those barrels might be reintroduced, and whether the pace should differ among members that have already been producing above target.
Oil Prices Drop Amid Oversupply Concerns and Geopolitical Tension -Oil prices fell after a monthly decline in August, as market participants focused on risks from oversupply and geopolitical tensions. Brent crude dropped toward $67 per barrel, while West Texas Intermediate (WTI) fell below $64 per barrel. The decline comes as Washington pressures India to halt imports of Russian oil by tightening secondary sanctions, coinciding with a regional summit in China where Indian Prime Minister Narendra Modi is set to meet Russian President Vladimir Putin today, Monday. Ahead of the meeting, New Delhi reaffirmed its commitment to its relationship with Russia, describing U.S. measures as “unfair, unjustified, and illogical.” Meanwhile, domestic refiners continued purchasing Russian crude, although some opportunistic deals for U.S. shipments were recorded. Global benchmark oil has fallen nearly 10% year-to-date, impacted by rising supply from the OPEC+ alliance and concerns that the U.S.-led trade war could curb energy demand. The producer coalition, which includes Russia, plans a virtual meeting on September 7 to discuss its next steps. The International Energy Agency (IEA) expects the market to face a record surplus next year. “The focus is now on the upcoming OPEC+ meeting, where the potential reintroduction of the remaining 1.65 million barrels per day in voluntary production cuts will be discussed. After the peak season, the pressure of excess supply in the oil market will become more evident.” In the United States, hedge funds have cut their long positions in U.S. crude to their lowest level in about 18 years amid economic policy uncertainty and growing concerns over supply surpluses. U.S. actions against India are part of a broader effort to end the war in Ukraine, although similar tariffs have not been imposed on China. Over the weekend, Peter Navarro, U.S. White House trade advisor, told Fox News Sunday: “New Delhi is fueling the Russian war machine… it’s just a money-laundering mechanism for the Kremlin.” Gao added: “If no additional geopolitical disruptions occur, downward pressure on prices is likely to increase.”.
Oil settles higher on weaker dollar and Russian supply disruptions (Reuters) - Global benchmark Brent crude oil settled 1% higher on Monday, as concerns mounted that intensifying airstrikes in Russia and Ukraine could lead to supply disruptions, and as a weaker dollar lent additional support. Brent crude futures settled up 67 cents, or 1%, at $68.15 a barrel. The U.S. benchmark, the West Texas Intermediate futures contract , was up 67 cents, or 1.1% at $64.68 by 2:15 p.m. ET. There will be no settlement for WTI futures on Monday due to Labor Day holiday in the U.S. Trading volume for both Brent and WTI was also muted due to that reason. Ukrainian President Volodymyr Zelenskiy on Sunday vowed to retaliate against Russian drone strikes on power facilities in his country's north and south, and ordered more strikes deep inside Russia. Three and a half years into the war, both Russia and Ukraine have intensified airstrikes in recent weeks, even as efforts are underway to resolve the crisis. Markets remain concerned about Russian oil flows, with weekly shipments from its ports dropping to a four-week low of 2.72 million barrels per day (bpd), according to tanker tracker data cited by ANZ analysts. Elsewhere, the U.S. labour market report this week will give a read on the economy's health and test investor confidence that interest rate cuts are coming soon, a view that has strengthened appetite for riskier assets such as commodities. Ahead of the data, the dollar was close to a five-week low on Monday, making oil less expensive for buyers using other currencies. Investors were also focused on Beijing, where Chinese President Xi Jinping, Russian counterpart Vladimir Putin and Indian Prime Minister Narendra Modi are attending a regional summit. China's manufacturing activity expanded at the quickest pace in August in five months, a private-sector survey showed on Monday. That helped lend support to oil and copper prices, SEB commodities analyst Bjarne Schieldrop said in a note to clients on Monday. Also on the radar was an OPEC+ meeting on September 7. "The next key fundamental question is whether OPEC+ oil producers will continue to raise the group's output targets beyond September, with a decision due within days," analyst Tim Evans said in the newsletter Evans on Energy. Coming out of the summer season, oil inventories should rise in the last quarter of 2025 and the first quarter of 2026, HSBC analysts said in a note, with a surplus of 1.6 million barrels per day in the fourth quarter. Higher OPEC+ supply and rising stockpiles could keep pressure on oil prices after both Brent and WTI registered their first monthly declines in four months in August, losing 6% or more. "Oil practitioners will continue to curb their enthusiasm,"
Oil Prices Rise Amid Escalating Russia-Ukraine Conflict -Oil prices rose in early Asian trading on Tuesday amid growing concerns over supply disruptions as the conflict between Russia and Ukraine intensifies. Brent crude climbed 40 cents, or 0.59%, to $68.55 per barrel by 01:49 GMT, while U.S. West Texas Intermediate (WTI) crude rose $1.05, or 1.64%, to $65.06 per barrel. Futures for WTI were not settled on Monday due to a U.S. holiday. Recent Ukrainian drone attacks have shut down facilities accounting for at least 17% of Russia’s oil processing capacity, equivalent to 1.1 million barrels per day, according to Reuters calculations. Ukrainian President Volodymyr Zelensky said Sunday that Ukraine plans further strikes deep inside Russia following weeks of attacks on Russian energy assets. After three and a half years of war, both Russia and Ukraine have intensified airstrikes in recent weeks. Russia has targeted Ukraine’s energy and transport systems, while Ukraine has attacked Russian refineries and pipelines. Daniel Hines, a commodities analyst at ANZ Bank, noted on Tuesday, “Ongoing risks to Russia’s energy infrastructure remain high. Ukraine struck more Russian oil refineries over the weekend as it intensified attacks on infrastructure.” Geopolitical tensions may also rise due to China’s vision for a “new world order.” President Xi Jinping on Monday presented a security and economic framework prioritizing the “Global South,” directly challenging the United States, during a summit with Russian and Indian leaders. China and India are Russia’s largest crude oil buyers, with Russia being the world’s second-largest oil exporter. While former U.S. President Trump imposed additional tariffs on India for purchasing Russian crude, no similar measures were applied to China. Investors are now awaiting an OPEC+ meeting on September 7 for any indications of further production increases from the group.
The U.S. Imposed Sanctions Targeting Iran’s Oil Revenue Stream --- The crude market posted an outside trading day on Tuesday following the long U.S. Labor Day holiday and ended the session sharply higher after the U.S. imposed sanctions targeting Iran’s oil revenue stream and ahead of the OPEC+ meeting on Sunday. The market posted a low of $63.66 during Monday’s shortened trading session. However, the market bounced off its low and rallied to a high of $66.03 early Tuesday morning. The market was well supported by expectations that OPEC+ producers will not unwind the remaining voluntary cuts at its meeting on Sunday. The market also remained supported by the geopolitical concerns over the lack in progress in ending the war in Ukraine. Ukrainian drone attacks have shut down facilities accounting for about 17% of Russia’s oil processing capacity or 1.1 million bpd. The oil market erased some of its losses only to trade back towards its high on the news that the U.S. sanctioned a network of shipping companies and vessels for smuggling Iranian crude disguised as Iraqi oil. The October WTI contract settled in a sideways trading range ahead of the close and ended the session up $1.58 at $65.59. The November Brent contract settled up 99 cents at $69.14. The product markets ended the session higher, with the heating oil market settling up 10.46 cents at $2.3744 and the RB market settling up 7.39 cents at $2.0428. Russian President Vladimir Putin said that Moscow had never opposed Ukraine’s potential membership of the European Union and that he thought it was possible to find a consensus on ensuring the security of both Russia and Ukraine. The U.S. Treasury Department on Tuesday sanctioned a network of shipping companies and vessels led by an Iraqi-Kittitian businessman for smuggling Iranian oil disguised as Iraqi oil. A senior Iranian official said the path to nuclear negotiations between Iran and the United States is not closed but added that U.S. demands for curbs on Iranian missiles are obstructing prospects for talks. Yemen’s Iran-aligned Houthis said that they had attacked a ship in the northern Red Sea with two drones and a missile over its connection to Israel. Saudi Aramco and Iraq’s state oil company SOMO have stopped selling crude oil to India’s Nayara Energy in the aftermath of sanctions imposed in July by the European Union on the Russian-backed refiner. According to sources and LSEG shipping data, the halt of supply from the two Gulf exporters means Nayara, majority-owned by Russian entities including oil major Rosneft, relied entirely on Russia for its crude oil imports in August. Citgo’s 175,500 bpd Corpus Christi refinery and Phillips 66’s 159,668 bpd Borger refinery reported operational issues late last week. In an environmental regulatory filing, Citgo said the fluid catalytic cracking unit No. 2 at the refinery’s East Plant experienced a sudden unplanned shutdown due to the loss of a control valve on Thursday. Citgo said the refinery’s electrostatic precipitators were turned off as part of the safety shutdown protocol, resulting in flaring and carbon monoxide emission for about an hour. Citgo also said that refinery workers responded to stabilize refinery process units. On Sunday, Phillips 66 reported an emissions event of more than four hours at its Borger refinery in the Texas Panhandle.
WTI Posts Biggest Gain Since July - Oil edged up by the most since late July as technical buying supported a rally driven by signs of enduring physical market tightness. West Texas Intermediate rose 2.5% to settle near $66 a barrel. Ukraine struck two oil refineries in Russia in a continued assault on energy infrastructure that has begun to hurt flows, pushing Moscow's crude-processing runs to the lowest since May 2022 last month. The conflict has contributed to unforeseen tightness in a market that was expected to be overwhelmed by OPEC crude at this time of year. Commodity trading advisers, meanwhile, were steadily buying throughout the session, helping push prices higher, according to Daniel Ghali, a commodity strategist at TD Securities. However, the algorithmically driven traders will sell both benchmarks in any scenario for prices over the coming week, indicating that crude's run may reverse soon, he said. Russian flows have been in the spotlight over the past few weeks amid US efforts to pressure Moscow to make peace in Ukraine by targeting India, a top importer of its crude. Treasury Secretary Scott Bessent said Washington would look at sanctions on Russia this week. Elsewhere, US stockpiles have remained low at the key storage hub of Cushing, Oklahoma. The wealth of bullish near-term factors — from the war in Ukraine to the US deploying naval forces off the coast of Venezuela — contributed to timespreads widening in their backwardated structures toward the end of last week. "Sentiment in the oil market is shifting from very negative to more neutral," said Arne Lohmann Rasmussen, chief analyst at A/S Global Risk Management. "The main support for oil prices is the geopolitical premium. No one believes anymore that a peace deal between Russia and Ukraine is imminent." The jolt of strength comes amid a bearish chapter for crude. US benchmark WTI has largely been confined between $62 and $66 a barrel since early August, with prices almost 10% lower this year. Investors turned the least bullish on crude in about 18 years last week amid widespread concerns that a push by OPEC+ to revive production will swell supplies just as the US-led trade war crimps demand. OPEC+ will hold a meeting this weekend to decide on output for October. Most market watchers expect that the group will opt to keep supplies steady. Oil Prices WTI for October delivery rose to settle at $65.59 a barrel in New York, up 2.5% from Friday's close. There was no settlement on Monday due to a US holiday Brent for November settlement gained 1.5% to $69.14 a barrel.
Oil slips below 1mth high; sanctions, OPEC+ in focus -- Oil prices edged lower in Asian trading on Wednesday but remained near one-month highs, supported by fresh United States sanctions and geopolitical tensions, while traders looked ahead to this weekend’s Petroleum Exporting Countries (OPEC+) meeting for supply signals. By 3:25 pm AEST (5:25 am GMT), Brent crude slipped 19 cents, or 0.3%, to US$68.95 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 16 cents, or 0.2%, to US$65.43. Both benchmarks had gained 1.5% and 2.5% in the previous session, respectively. The U.S. Treasury announced new sanctions on a network of shipping firms and tankers operated by an Iraqi-Kittitian businessman accused of disguising Iranian oil shipments as Iraqi crude. Additionally, ANZ analysts pointed to further supply pressures from the Russia-Ukraine conflict. “Ukraine struck two oil refineries in Russia in a continued assault on energy infrastructure that has begun to impact trade flows. Russia’s crude processing runs have fallen to 5.09mb/d through the first 27 days of August, their lowest since May 2022,” they said. U.S. Treasury Secretary Scott Bessent also signalled that Washington would review potential penalties against Moscow this week. The focus now shifts to the 7 September OPEC+ meeting. Markets widely expect the cartel and its allies to keep production levels unchanged as they balance supply stability against fragile demand. Meanwhile, On Wednesday morning, Beijing staged its largest-ever military parade to mark the 80th anniversary of Japan’s defeat in World War Two, with Chinese President Xi Jinping taking centre stage alongside Russia’s Vladimir Putin and North Korea’s Kim Jong Un, following last week’s Shanghai Cooperation Organisation summit where China outlined its vision for a new global security and economic order in challenge to the U.S. Still, weak economic signals kept oil gains in check. U.S. manufacturing contracted for a sixth consecutive month in August, as President Donald Trump’s tariffs weighed on business confidence and activity, clouding the outlook for fuel demand.
Oil prices drop as OPEC+ weighs another output hike (Reuters) - Oil prices fell by more than 2% on Wednesday ahead of a weekend meeting of OPEC+ producers that is expected to consider another increase in production targets in October. Brent crude fell $1.6, or 2.31%, to $67.54 a barrel by 2:11 p.m. EDT (1811 GMT). U.S. West Texas Intermediate crude fell $1.68, or 2.56%, to $63.91 a barrel. Eight members of the Organization of the Petroleum Exporting Countries and allies - known as OPEC+ - will consider further raising oil production at a meeting on Sunday, two sources familiar with the discussions told Reuters, as the group seeks to regain market share. The prospect of OPEC+ raising oil production has increased ahead of the meeting, said Phil Flynn, senior analyst with Price Futures Group. Traders had expected the group to stay the course. Another boost would mean that OPEC+, which pumps about half of the world's oil, would be starting to unwind a second layer of output cuts of about 1.65 million barrels per day, or 1.6% of world demand, more than a year ahead of schedule. The group had already agreed to raise output targets by about 2.2 million bpd from April to September, in addition to a 300,000 bpd quota increase for the United Arab Emirates. "If output is raised in line with new quotas, we see the market moving into a sizeable surplus from September 2025 through 2026, with inventories building unless countered by renewed restraint," said Ole Hvalbye, an analyst at SEB bank. Actual increases from the group, however, have fallen short of its pledges as some members compensated for previous over-production and others struggled to raise output due to capacity constraints. Market participants now await government data on U.S. crude stockpiles, due on Thursday. U.S. crude stocks rose by 622,000 barrels in the week ended August 29, market sources said, citing American Petroleum Institute figures on Wednesday. Soft economic data, which tends to weigh on the demand outlook for oil, also pressured prices. U.S. Labor Department data showed on Wednesday that job openings, a measure of labor market demand, fell more than expected to 7.181 million in July. Economists polled by Reuters had expected 7.378 million. Earlier this week, U.S. manufacturing contracted for a sixth month. Meanwhile, parts of Nigeria's 650,000-bpd Dangote refinery were offline due to catalyst leaks and other issues, with repairs expected to take at least two weeks.
Oil prices tumble by 2% on news of OPEC+ supply boost - Oil took a hit on Wednesday after word broke that OPEC+ is weighing another production boost for October. Brent dropped by $1.54, closing at $67.60 a barrel, while U.S. West Texas Intermediate (WTI) fell $1.62, ending the day at $63.97. That’s a 2.23% and 2.47% decline, respectively. The timing? Just days before an online meeting on Sunday, where eight members of OPEC+ will decide whether to bump up output again, according to Reuters. Traders didn’t see this coming. The market had priced in a steady stance, but now there’s a real chance OPEC+ might change direction. The odds of a production hike “have gone up” ahead of the weekend. The cartel wants its market share back, and a fresh increase would fast-track plans to ease a major supply cut that was supposed to stay in place through 2026. This isn’t just a small tweak. The potential move on Sunday would mean OPEC+ starts unwinding the 1.65 million barrels per day (bpd) of extra cuts it had agreed to keep until the end of 2026. That number covers 1.6% of the world’s oil demand. If the group lifts quotas as expected, it’s jumping ahead by more than a year. See also Economists rally behind Lisa Cook, Fed's independence in open letter against Trump The bloc already approved a 2.2 million bpd increase from April through September. That was on top of a 300,000 bpd bonus quota for the UAE. At their last meeting in August, the eight core members also bumped production by 547,000 bpd for September, pushing the total increase this year to 2.5 million bpd, including the UAE’s allocation. But the reality hasn’t matched the promises. Some members are still offsetting previous overproduction, while others can’t hit their quotas due to technical or capacity problems. Ole Hvalbye, an analyst at SEB bank, warned: “If output is raised in line with new quotas, we see the market moving into a sizeable surplus from September 2025 through 2026, with inventories building unless countered by renewed restraint.” The group, which includes OPEC, Russia, and other partners, pumps about half of the world’s total oil. Until recently, it had been holding back barrels to keep prices from collapsing. That strategy could be reversed if Sunday’s decision goes through. But even as they talk about pumping more, the fact that actual output has lagged behind pledges has been helping support prices for now. The oil dump wasn’t just about OPEC+. There’s more hitting the demand side. U.S. job openings in July came in at 7.181 million, way below the expected 7.378 million, according to the Labor Department. Weak labor numbers raise concerns about consumption and economic momentum. Manufacturing’s also struggling, with U.S. factory activity shrinking for the sixth straight month, signaling more demand weakness ahead. The market is still waiting for inventory numbers from the American Petroleum Institute (API), expected to show a dip in crude, gasoline, and distillate stocks. A drop like that normally supports prices, but with this OPEC+ move looming, supply headlines are dominating demand ones. Over in Nigeria, things aren’t running smooth either. The massive 650,000 bpd Dangote refinery is facing downtime. A catalyst leak and other technical faults have taken parts of the plant offline. Fixes could take two weeks, putting a dent in local refining but not enough to balance what could come from OPEC+. That said, there’s still another 2 million bpd of group-wide cuts on the books. Those are separate from the 1.65 million being debated this weekend. Both layers were meant to run through the end of 2026, but the group now seems eager to move faster.
Oil prices slide as OPEC+ weighs new output hike --Oil prices extended losses during Thursday's Asian trade, falling for a second straight session as markets turned their attention to an upcoming OPEC+ meeting that could result in another increase in production quotas.By 3:25 pm AEST (5:25 am GMT), Brent crude dropped 46 cents, or 0.7%, to US$67.14 per barrel, while U.S. West Texas Intermediate (WTI) crude slipped 48 cents, or 0.8%, to $63.49. The declines follow a more than 2% slide in the previous session.Eight members of the Organization of the Petroleum Exporting Countries and their allies, collectively known as OPEC+, are set to meet on Sunday to discuss October output targets. Two sources familiar with the matter told Reuters that further production increases are under consideration as the group looks to consolidate market share.OPEC+ has already agreed to raise output targets by about 2.2 million barrels per day between April and September, alongside a 300,000 bpd quota boost for the United Arab Emirates.Traders are also watching U.S. crude inventory data expected later on Thursday, delayed by a public holiday earlier in the week. Industry figures from the American Petroleum Institute (API) showed crude stocks rising by 622,000 barrels in the week ended August 29, compared with analyst expectations for a 3.4 million barrel drawdown.
WTI Holds Losses After Big Surprise Crude Build - Oil prices continue to decline on concerns that OPEC+ will once again bolster supply at a meeting on Sunday, compounding fears of higher volumes later in the year. Russian Deputy Prime Minister Alexander Novak subsequently said OPEC+ will “look at the current situation as a whole” before making a decision.Several delegates from the group said it has yet to decide on how to proceed.Additionally, API reported a surprise (though small) build in crude inventories. API:
- Crude +622k (-3.4mm exp)
- Cushing
- Gasoline -4.57mm
- Distillates +3.68mm
DOE
- Crude +2.415mm (-3.4mm exp)
- Cushing +1.59mm - biggest build since Mar 2025
- Gasoline -3.795mm - biggest draw since Apr 2025
- Distillates +1.68mm
The official DOE data shows a very mixed bag with a big surprise crude build, large jump in stocks at the Cushing Hub and a big draw in gasoline stocks.... With the addition of 509k barrels to the SPR, total commercial crude stocks rose for the first time in 3 weeks...US Crude production remains near record highs despite the plunge in rig counts...Algorithmic traders also may have contributed to oil’s slide on Thursday. Trend-following commodity trading advisers have been steadily selling crude since reaching “buying exhaustion” at the $65-a-barrel level, “creating just a few ripples and weighing on prices,” according to Daniel Ghali, a commodity strategist at TD Securities.“We think a tidal wave is coming next,” Ghali said.“We expect that algos are now set to imminently sell a massive 40% of their maximum size.”WTI traded down to two week lows ahead of the official inventory and supply data...
The Oil Market Settled in Negative Territory on Thursday - The oil market on Thursday settled in negative territory on expectations that OPEC+ producers will increase their output targets at their meeting on Sunday and on an unexpected build in crude inventories. The oil market posted a high of $63.84 in overnight trading and continued on a downward trend. It breached a support line $63.73 and retraced more than 62% of its move from a low of $61.29 to a high of $66.03 as it sold off to a low of $62.72 on the expectations that OPEC+ will consider further increases to production in October at its meeting this weekend. The market began retracing some of its losses ahead of the release of the EIA’s weekly petroleum stocks report, which showed an unexpected build in crude stocks of over 2.4 million barrels on the week. The crude market later settled in a sideways trading range during the remainder of the session. The October WTI contract settled down 49 cents at $63.48 and the November Brent contract settled down 61 cents at $66.99. The product markets ended the session lower, with the heating oil market settling down 3.02 cents at $2.3307 and the RB market settling down 25 points at $2.0095. In a phone interview with CBS News, U.S. President Donald Trump said he remains committed to pursuing a peace agreement between Russia and Ukraine despite uncertainty over the prospect of face-to-face talks between Russia’s Vladimir Putin and Ukraine’s Volodymyr Zelenskiy. President Trump said he is unhappy with the carnage between Russia and Ukraine but will keep pushing for a peace agreement. Earlier on Wednesday, President Trump said he plans to hold talks about the war in Ukraine in the coming days. A White House official said Trump is expected to speak on the phone on Thursday with Ukraine’s President. Russia’s President stated on Wednesday he is ready to meet with Ukraine’s President if he came to Moscow but that any such meeting had to be well prepared and lead to tangible results. Ukraine’s Foreign Minister dismissed the suggestion of Moscow as a venue for such a meeting.French President Emmanuel Macron said twenty-six nations have pledged to provide postwar security guarantees to Ukraine, which will include an international force on land and sea and in the air after a summit meeting of Kyiv’s allies on Thursday. The French President said he, fellow European leaders and Ukrainian President Volodymyr Zelenskiy held a call with U.S. President Donald Trump after their summit and U.S. contributions to the guarantees would be finalized in the coming days.Goldman Sachs in a research note to clients said it sees “the current oversupply in oil markets intensifying” and is forecasting Brent prices reaching the low $50s in late 2026.Russian Deputy Prime Minister, Alexander Novak, said that there is no set agenda for the next OPEC+ meeting, but participants always review the current situation and forecasts. He said “Based on that, we decide issues on the spot.” On Wednesday, sources said eight OPEC+ members are expected to consider further raising oil production at a meeting on Sunday. According to a Reuters survey, OPEC’s oil output increased further in August to 27.84 million bpd, up 360,000 bpd from July’s revised total, with the United Arab Emirates and Saudi Arabia making the largest increases. Under an agreement by eight OPEC+ members covering August output, the five of them that are OPEC members, Algeria, Iraq, Kuwait, Saudi Arabia and the UAE, were to increase output by 416,000 bpd before the effect of compensation cuts totaling 178,000 bpd for Iraq, Kuwait and the UAE. According to the survey, the actual increase by the five was 310,000 bpd.
Oil prices slip on supply worries, set for weekly loss - Oil prices fell for a third straight session during Asian trade on Friday, setting the market on track for its first weekly decline in three weeks, as expectations of increased supply and a surprise build in United States crude inventories deepened concerns over weakening demand.By 3:30 pm AEST (5:30 am GMT), Brent crude futures were down 14 cents, or 0.2%, at $66.85 per barrel, while U.S. West Texas Intermediate (WTI) crude slipped 18 cents, or 0.3%, to $6.30 per barrel. For the week so far, Brent is down 1% and WTI has retreated 1.1%.“Crude oil remained under pressure amid concerns of rising OPEC+ supply,” ANZ research analysts wrote in a note on Friday. “Market expectations are growing that the group will continue to push more barrels into the market, in an effort to gain market share lost to U.S. shale producers in recent years.”Reuters reported earlier this week that eight members of the Organization of the Petroleum Exporting Countries and allies, including Russia – collectively known as OPEC+ – will consider raising production further in October at a meeting on Sunday, citing two sources familiar with the talks. Another increase would see OPEC+, which supplies about half of the world’s oil, begin unwinding a second layer of output cuts totalling 1.65 million barrels per day, equivalent to 1.6% of global demand, more than a year earlier than planned. Meanwhile, Data from the Energy Information Administration showed U.S. crude inventories rose by 2.42 million barrels last week as refineries prepared for seasonal maintenance, compared to market expectations of a 1.8 million-barrel draw.Despite oversupply concerns, geopolitical risks continue to loom over the market. A White House official said U.S. President Donald Trump told European leaders on Thursday that Europe must stop buying Russian oil. Any restrictions on Russian crude exports or disruptions to supply could push global prices higher.
Oil Slips 2% as Saudi Arabia Presses OPEC+ to Fast-Track Output Hike --Saudi Arabia is pushing OPEC+ to fast-track the group’s next oil production increase, moving up a supply hike originally scheduled for late 2026. The proposal, first reported by Bloomberg, would restore as much as 1.66 million barrels per day of output currently held back under voluntary cuts.The issue is set for debate during a video conference of OPEC+ ministers this weekend. Riyadh’s initiative comes after the alliance has already rolled back roughly 2.2 million bpd of reductions over the past five months, signaling a pivot from defending prices toward reclaiming market share.News of the Saudi move immediately pressured futures.Brent crude slipped 2.07% to $65.60 per barrel as of 10:04 a.m. ET on Friday, while the U.S. benchmark, West Texas Intermediate (WTI) was trading down 2.25% at $62.05. The benchmarks are heading for their first weekly decline in three weeks amid growing concern that additional supply will tip the market into surplus.The pressure was compounded by U.S. inventory data showing a 2.4-million-barrel build last week, defying expectations of a draw as refineries entered seasonal maintenance. Traders noted that stock builds in the United States could magnify the price impact of fresh OPEC+ volumes, particularly if demand growth slows into the fourth quarter.The Saudi proposal follows weeks of speculation that the group could reopen talks on accelerating the supply path. Earlier this week, both Brent and WTI fell by about 2% on expectations that more barrels could return by October if consensus forms within the alliance. The outcome of Sunday’s ministerial meeting will determine whether the remaining 1.66 million bpd is restored ahead of schedule, a decision that could reshape market balances through the end of the year.
Oil prices settle down more than 2% after weak US jobs report (Reuters) - Oil prices fell on Friday as a weak U.S. jobs report dimmed the outlook for energy demand, while swelling supplies may grow further after OPEC and allied producers meet over the weekend. Brent crude futures settled at $65.50 a barrel, down $1.49, or 2.22%. U.S. West Texas Intermediate crude finished at $61.87, down $1.61, or 2.54%. On Wednesday, Reuters reported that eight OPEC+ producers will consider raising production further at a meeting on Sunday. U.S. crude inventories rose 2.4 million barrels last week, rather than falling as analysts expected. "It's kind of a perfect storm," "It started falling with the OPEC story. The jobs report was not helpful. That suggests the market is weakening." U.S. nonfarm payrolls increased by only 22,000 jobs last month after rising by an upwardly revised 79,000 in July, the Labor Department's Bureau of Labor Statistics said in its closely watched employment report on Friday. Economists polled by Reuters had forecast payrolls rising by 75,000 positions after a previously reported 73,000 gain in July. The initial August job count has tended to exhibit a weak bias, with revisions subsequently showing strength. Estimates ranged from no jobs added to 144,000 positions created. The weak jobs report will put pressure on the U.S. Federal Reserve to cut interest rates, Flynn said. The jobs report "is a bad data point for the market," Expectations are growing that OPEC+, the Organization of the Petroleum Exporting Countries and allies like Russia, will decide at Sunday's meeting to push more barrels into the market to regain market share. "They always seem to aggravate what's going on in the market," he said about OPEC+, which pumps about half of the world's oil. The group would be starting to unwind a second layer of output cuts of about 1.65 million barrels per day, or 1.6% of world demand, more than a year ahead of schedule. "If the eight OPEC+ countries were to agree on another production increase, we believe this would place significant downward pressure on oil prices. After all, there is already a significant risk of a supply surplus," Commerzbank analysts said in a note. Supply risks still support the market. U.S. President Donald Trump told European leaders on Thursday that Europe must stop buying Russian oil, a White House official said. Any cuts to Russia's crude exports or other disruption to supplies could push global oil prices higher. "There remains the risk that Western powers could ramp up sanctions against Russia in an attempt to compel President Putin to the negotiating table," JP Morgan analysts said on Friday. Kilduff said the recent attendance of Russian President Vladimir Putin and Indian Prime Minister Narendra Modi at a parade in Beijing alongside Chinese President Xi Jinping pointed to defiance of Trump's demands and Russian oil supply remaining in the global supply chain.
Ukraine Drones Hit One of Russia’s Biggest Refineries - Ukraine attacked with drones Rosneft’s Ryazan refinery in Russia, again, the commander of Ukraine’s drone forces, Robert Brovdi, said on Friday, as eyewitnesses reported explosions, a fire, and thick smoke near the refinery in the region southeast of Moscow. The Ryazan refinery operated by oil giant Rosneft is one of the biggest crude processing plants in Russia with a capacity to process more than 260,000 barrels per day (bpd) of crude—or 5% of Russia’s refining capacity. Ukraine also attacked early on Friday an oil depot in the Luhansk region, which is occupied by Russia, the Ukrainian army said. The hit on the Ryazan refinery is one of several Rosneft has sustained at its facility this year, including a drone hit in August, when Ukraine intensified attacks against key energy infrastructure in Russia. Several refineries in Russia sustained damages during Ukrainian drone strikes last month. Ukraine also targeted in August Rosneft’s Saratov Refinery in the Volga region with the capacity to process 140,000 bpd of crude. The facility had to temporarilysuspend intake of crude and processing operations. A Lukoil refinery in the Russian city of Volgograd caught fire after being hit by Ukrainian drones in the middle of August. The Volgograd refinery is Lukoil’s second-biggest crude processing facility in Russia and a key fuel supplier to the southern federal district in the country. Over the past four weeks, Ukrainian drones have caused various degrees of damage at at least half a dozen refineries in Russia and at the fuel loading and gas processing complex at the Ust-Luga port on the Russian Baltic Sea. Repairs at the most seriously damaged unit at Ust-Luga could take up to six months, according to reports. Due to crippled domestic operating refining capacity, Russia is expected to sharply increase crude oil exports in the coming weeks.
Russia Gears Up For New Nuclear Missile Test -It's been a busy few weeks up on the windswept Russian archipelago of Novaya Zemlya: people, earthmoving trucks, shipping containers, temporary housing, heavy-lift aircraft, helicopters, cargo ships. The activity shows up in satellite imagery, aircraft hazard notifications, ship transponder trackers, and open-source intelligence reporting at a time when long Arctic days and good weather mean favorable conditions for building projects at the Pankovo test range and nearby air base.The betting money for close watchers of Russian weapons development is on another test of a trouble-plagued, nuclear-powered cruise missile called the Burevestnik."The operational sites for this system are almost complete. This is going to be an operational system pretty soon here," said Decker Eveleth, a researcher at the suburban Washington-based Center for Naval Analyses, who examined satellite imagery of the sites in July and August. "This may have been the final check before operational testing and evaluation.""They're clearly pretty far long," he said."I wouldn't be surprised if the test has already happened," said Pavel Podvig, a Geneva-based arms control researcher and expert on Russia's nuclear forces.The missile, dubbed Skyfall by NATO, has been under development for more than a decade now. It's one of several new systems Russian designers have focused on as the Kremlin pours money into weapons development as part of a not fully recognized arms race -- mainly against the United States.Others include the Sarmat international continental ballistic missile, a nuclear-powered, nuclear-tipped torpedo called Poseidon, and a hypersonic missile called Avangard.Russian President Vladimir Putin talked up many of the weapons elaborate public ceremonies in 2018 and 2019. Two of the new weapons, the Kinzhal and Tsirkon missiles, have been used in Ukraine. The Sarmat has also been tested, though last year it suffered a major mishap. The Burevestnik has drawn particular attention from arms control and intelligence experts, partly because of the technology but also its past failures.The missile is powered essentially by a small nuclear reactor built into the engine, theoretically enabling it to stay aloft for days.It "would carry a nuclear warhead; circle the globe at low altitude, avoid missile defenses, and dodge terrain; and drop the warhead at a difficult-to-predict location," according to a 2019 report by the Washington-based Nuclear Threat Initiative.
Israeli strike on Yemen's capital kills Houthi prime minister, others -- An Israeli strike on Yemen last week killed the prime minister of the Houthi-controlled government and several other officials, according to the Iran-backed rebel group. Ahmed al-Rahawi, the prime minister and most senior Houthi official, was killed in a Thursday Israeli attack in the Yemeni capital of Sanaa, the group said in a statement on Saturday. The Houthis, designated as a foreign terrorist organization by the U.S., added that colleagues of Rahawi were also killed or injured in the attack, although it is unclear how many. The assault came as the Houthis’ leadership gathered for a “routine” workshop to analyze its performance over the past year, the presidency said in a statement that was broadcast on Houthi-run TV.The Israeli Defense Forces (IDF) said Thursday that a “Houthi terrorist regime military target in Sanaa” was struck. “The Iranian-backed Houthi regime has targeted Israel, undermining regional stability and freedom of navigation,” the IDF said on social platform X. Despite killing al-Rahawi, the majority of the power lies with Abdul Malik al-Houthi, a politician and religious leader in Yemen.
Houthi Leader Vows Attacks on Israel Will Continue After Israeli Killing of Yemeni Prime Minister - The leader of Yemen’s Houthis, officially known as Ansar Allah, vowed on Sunday that the campaign against Israel that was launched in support of the Palestinians in Gaza would continue despite the Israeli assassination of the prime minister of the Houthi-led Yemeni government.“Yemen’s position towards the Palestinian people is firm and cannot be reversed. Our people say to the Palestinian people: We are with you and we support you,” Abdul Malik al-Houthi said in a speech where he offered condolences for the family of Prime Minister Ahmed al-Rahawi and other government ministers who were killed by August 28 Israeli airstrikes on the Yemeni capital of Sanaa. “The military path in targeting the Israeli enemy, whether with missiles, drones, or a naval blockade, is continuous and unwavering,” al-Houthi added, according to Al Mayadeen.Al-Rahawi was a civilian official who was not considered part of al-Houthi’s inner circle. He was tasked with running the day-to-day affairs in Sanaa and other areas of Houthi-controlled Yemen, which is where about 70% to 80% of Yemenis live, according tonumbers from the US State Department. The Houthis have been the governing authority in the area since 2014, when they first took power in Sanaa after ousting a US and Saudi-backed government, which a US-backed Saudi-UAE-led coalition attempted and failed to reinstall in a brutal war from 2015 to 2022.Mohammad al-Bukhaiti, a senior Ansar Allah official, suggested that the Houthis could escalate their attacks on Israel in response to the killing of al-Rahawi. “Targeting the government meeting is a crossing of red lines,” he said on Saturday. “The war has entered a new phase, and revenge must be taken; our actions will precede our words.” The Houthis are known for their resilience and did not back down in the face of a very heavy US bombing campaign that the Trump administration conducted from March 15 to May 6, which killed more than 250 civilians. The US gave up on trying to get the Houthis to stop their attacks on Israel and their blockade of Israeli shipping and agreed to a ceasefire with the group.Israeli Prime Minister Benjamin Netanyahu threatened to kill more senior Yemeni officials at a cabinet meeting on Sunday. “We are doing what no one else has done before us, and this is only the beginning of the strikes against the senior leadership in Sanaa,” he said, according to The New York Times. “We will get to them all.” The only thing that has gotten the Houthis to stop their attacks was the brief ceasefire in Gaza that started in January 2025 and ended when Israel restarted its genocidal war in March.
Yemen's Houthis claim ballistic missile attack on Israeli vessel in Red Sea --The Yemeni Houthi group said Monday that it had launched a ballistic missile attack on an Israeli vessel off the Red Sea coast. Military spokesman Yahya Saree said in a statement that a ballistic missile targeted Israeli oil tanker Scarlet Ray in the northern Red Sea. He said the ship was directly hit by the Houthi missile. There was no immediate comment from the Israeli army on the Houthi claim, or information about damage or injuries. The United Kingdom Maritime Trade Operations (UKMTO) reported a projectile attack earlier Monday on a Liberia-flagged, Israeli-owned tanker near Yanbu, Saudi Arabia. No injuries were reported, and the vessel continued its voyage, UKMTO said. Monday’s attack came days after Houthi Prime Minister Ahmed Ghalib Al-Rahawi and several ministers were killed in an Israeli strike on the Yemeni capital Sanaa on Thursday. Following the attack, the Houthi group vowed to continue its missile and drone strikes against Israeli targets in support of Palestinians in the Gaza Strip. Since November 2023, the Houthis have launched missile and drone strikes on Israeli targets and targeted commercial shipping in the Red Sea, Gulf of Aden and Arabian Sea in support of Palestinians in Gaza, where nearly 63,500 people have been killed in an Israeli genocidal war.
Houthis Detain 11 UN Staff, Calling Them 'Spies' For US & Israel - Last Saturday, Israel conducted its major airstrikes on Sanaa which killed the Houthi prime minister, Ahmed al-Rahawi, among other top officials in the Houthi government. The operation has been widely reported as constituting the biggest single loss of Houthi leadership. The following day, Sunday, Houthi militants stormed the offices of two United Nations agencies in the capital, specifically the World Food Programme (WFP) and the United Nations children’s agency (UNICEF), according to UN leadership and various international reports. These offices ere "entered by local security forces" and some WFP and UNICEF staff members were detained. This week it was confirmed that eleven of these UN staff members have still been in Houthi detention.A fresh statement from the Iran-aligned Shia militant group has accused the detained UN aid workers of being spies for the US and Israel."Those who were arrested from among the United Nations employees are accused of spying for the American and Israeli aggression," an official Houthi statement said. "Whoever has the accusations against them confirmed will be referred to trial."Yemeni security sources have further rounded up dozens of other people "on suspicion of collaborating with Israel" they recently told AFP. This has been a long-running problem, as other UN workers have already long been in detention in Yemen:The United Nations envoy to Yemen, Hans Grundberg, said in a statement: "I strongly condemn the new wave of arbitrary detentions of UN personnel today in Sanaa and Hodeida... as well as the forced entry into UN premises and seizure of UN property."He said that "at least 11 UN personnel were detained" and demanded that they be "immediately and unconditionally" released.The Houthis were already detaining 23 UN personnel, some since 2021 and 2023, he added. In January, the Huthi rebels detained eight UN workers.
Israel's Defense Minister Again Threatens to Unleash Biblical Plagues on Yemen - Israeli Defense Minister Israel Katz on Thursday repeated a threat to unleash biblical plagues on Yemen in response to Houthi attacks on Israel, which have continued following the Israeli assassination of the prime minister of the Sanaa-based government.“The Houthis are firing missiles at Israel again. A plague of darkness, a plague of the firstborn – we will complete all ten plagues,” Katz wrote on X, referring to plagues brought upon Egypt in the book of Exodus.Katz has previously used the “plague of darkness” in apparent reference to Israel’s strikes on Yemeni power plants and other energy infrastructure. He also referenced the “plague of the firstborn,” which resulted in the deaths of all firstborn males in Egypt in Exodus, when announcing the Israeli strikes that targeted Yemeni civilian leadership and killed Prime Minister Ahmed al-Rahawi.Yemen’s Houthis, officially known as Ansar Allah, announced another missile attack on Israel on Thursday and repeated their vow that the operations in support of the Palestinians in Gaza will continue until there’s a ceasefire and an end to the blockade on the Palestinian territory. “The suffering of our oppressed Palestinian people in Gaza makes it imperative for all peoples to take action and break all restrictions in fulfillment of their religious, moral, and humanitarian duty to end this unprecedented crime in our contemporary history. Everyone bears responsibility, and their duty will not be done until it is fulfilled,” said Houthi military spokesman Yahya Saree. “Yemenis will continue to support Gaza until the aggression against it stops and the siege is lifted.” Saree also said the missile targeted Israel’s Ben Gurion airport and claimed that it reached its target and that US and Israeli air defenses failed to intercept it. Much earlier in the day, the Israeli military said a missile fired from Yemen landed in an open area outside of Israeli territory, but it’s unclear if it was the same one announced by Saree. The IDF claimed later in the day that its forces intercepted two drones fired from Yemen.
Satellite Photos Show Major Construction at Site Tied to Israel's Secret Nuclear Weapons Program - Satellite images show construction work on a major new facility at the nuclear site near Dimona, Israel, the location of Israel’s secret nuclear weapons program, The Associated Press reported on Wednesday.Israel is believed to have somewhere between 90 and 300 nuclear warheads, but the real figure is unknown since both Israel and the US do not officially acknowledge that the nuclear stockpiles exist. Israel is not a signatory to the Non-Proliferation Treaty, and its secret weapons program is not subject to any international inspections.The ambiguity around Israel’s nuclear weapons program allows the US to provide military assistance without worrying about the Symington Amendment, a foreign assistance law that prohibits aid to countries that traffic in nuclear enrichment equipment or technology outside of international safeguards.The Dimona nuclear site in the Negev Desert, known formally as the Shimon Peres Negev Nuclear Research Center, has had a heavy water reactor operating there since the 1960s. “That heavy water reactor, experts say, provides Israel with the plutonium for its nuclear weapons as well as the isotope tritium. That isotope is used to boost and also miniaturize nuclear weapons down to fit onto missile warheads,” said AP reporter Jon Gambrell in a video report.Gambrell said that experts and AP’s own analysis of the satellite images “show that this project could be any number of things, including, what experts say, could be a new heavy water reactor that could allow Israel to potentially build more nuclear weapons or potentially service the ones they already have.”The report said that the heavy water reactor at Dimona has been operating far longer than similar reactors from the same era, suggesting it may need to be replaced or retrofitted soon.Daryl G. Kimball, the executive director of the Arms Control Association, told AP that if it is a new heavy water reactor, then Israel is “seeking to maintain the capability to produce spent fuel that they then can process to separate plutonium for more nuclear weapons, or they are building a facility to maintain their arsenal or build additional warheads.”The report comes a few months after Israel and the US launched a war on Iran under the pretext that Tehran may be moving toward developing a nuclear weapon, a claim thatlacked evidence. Amid the scrutiny of its civilian nuclear program, Iran has frequently pointed to the fact that Israel does actually have a secret nuclear weapons program, and that Israel is not an NPT signatory.
Israeli Attacks and Starvation Kill 95 More Palestinians in Gaza Over 24 Hours - Gaza’s Health Ministry said on Sunday that Israeli attacks killed at least 88 Palestinians and wounded 421 over the previous 24-hour period as US-backed Israeli attacks continue across the Strip and the Israeli military is moving to conquer Gaza City. On top of the violent deaths, at least seven Palestinians, including two children, starved to death amid the ongoing famine caused by the Israeli siege. The Health Ministry said on Telegram that the seven deaths have brought the “total number of deaths from malnutrition to 339, including 124 children.” The Israeli military continued its heavy air and ground attacks on Gaza City on Saturday and Sunday. Residents of the Sheikh Radwan neighborhood told Reuters that Israeli tank shelling and airstrikes forced some families to seek shelter in the western part of the city. Reuters also reported that at least 15 people, including five children, were killed by an Israeli bombing in the heart of Gaza City. The Israeli military claimed that one of its strikes in Gaza City killed Abu Obeida, the spokesman for Hamas’s military wing, the al-Qassam Brigades. So far, there has been no comment from Hamas regarding the claim. On Friday, Israeli soldiers in Gaza City’s Zeitoun neighborhood, which the IDF has reduced to rubble over the past few weeks, came under Hamas attack, and at least seven were wounded. Initial reports said that the al-Qassam Brigades may have taken some soldiers as prisoners, but the IDF later denied that was the case. While Israel’s attacks have been focused on Gaza City, the IDF has continued to target southern and central Gaza. According to Al Jazeera, at least four people were killed by Israeli strikes in Deir el-Balah, central Gaza. Israeli forces also continued to kill Palestinians attempting to get food. The Health Ministry said that it recorded the killing of 30 aid seekers and the injury of 166 over 24 hours. The ministry also said that its violent death toll since October 7, 2023, has reached 63,459, and the number of wounded has climbed to 160,256. Studies have found that the ministry’s numbers are likely a significant undercount.
Israeli Attacks and Starvation Kill 107 More Palestinians in Gaza Over 24 Hours - Gaza’s Health Ministry said on Monday that Israeli attacks killed 98 Palestinians and wounded 404 over the previous 24-hour period as relentless US-backed attacks continue amid a famine in the besieged Palestinian territory. On top of the violent deaths, the Health Ministry said that it recorded another nine starvation deaths, including three children, due to the Israeli siege. “This brings the total number of victims of famine and malnutrition to 348, including 127 children,” the ministry said.The Israeli military continued its heavy assault on Gaza City, where UN and US-backed hunger monitors have determined famine is taking place. Health officials told Reutersthat at least 19 people, including women and children, were killed by Israeli airstrikes on Gaza City on Monday. Palestinians mourn over the shrouded bodies of family members killed in an Israeli strike on a tent at Al-Shifa Hospital in Gaza City, on September 1, 2025. The Palestinian news agency WAFA reported that Israeli strikes on the Shati refugee camp west of Gaza City killed a pregnant woman and a child. Two boys were also reported killed by an Israeli attack on a tent on al-Nasr Street in the western part of the city. Gaza City residents told Reuters that the IDF sent explosive-laden armored vehicles into the Sheikh Radwan neighborhood and blew them up, destroying homes and forcing more families to flee. The Israeli military also dropped leaflets on Gaza City, telling residents to flee to the south, as the IDF’s goal is to forcibly displace the entire civilian population of the city, which is estimated to be about 1 million people.“People are confused, stay and die, or leave towards nowhere,” Sheikh Radwan resident Mohammad Abu Abdallah told Reuters. “It was a night of horror, explosions never stopped, and the drones never stopped hovering over the area. Many people quit their homes fearing for their lives, while others have no idea where to go.”While ordering civilians to flee to the south, the IDF also continues to bomb and shoot Palestinians in central and southern Gaza. According to WAFA, the Nasser Hospital in Khan Younis received 11 bodies of Palestinians killed by Israeli forces on Monday. The news agency said that at least nine Palestinians were killed while attempting to get aid.
Israeli Attacks and Starvation Kill 119 Palestinians in Gaza Over 24 Hours - Gaza’s Health Ministry said on Wednesday that Israeli forces killed at least 113 Palestinians and injured 304 over the previous 24-hour period as the Israeli military continues its heavy attacks on Gaza City and strikes elsewhere in the Strip.On top of the violent deaths, the Health Ministry said it recorded another six starvation deaths, including one child, due to the Israeli siege. Famine has been officially declaredby the UN and US-backed hunger monitors in the Gaza Governorate, which includes Gaza City.Israeli troops and tanks pushed further into the Gaza City neighborhood of Sheikh Radwan, destroying houses and tanks as part of their campaign to forcibly displace all of the civilians sheltering in the city.The grandmother of three-year-old Ibrahim al-Mabhuh, who survived an Israeli air strike on a house that killed his parents and two sisters, according to medics, holds him in Gaza City, September 3, 2025. REUTERS/Ebrahim Hajjaj“Sheikh Radwan is being burnt upside-down. The occupation destroyed houses, burnt tents, and drones played audio messages ordering people to leave the area,” Zakeya Sami, a 60-year-old mother of five, told Reuters. “If the takeover of Gaza City isn’t stopped, we might die, and we are not going to forgive anyone who stands and watches without doing anything to prevent our death.”Residents said the Israeli military dropped grenades on three schools in Sheikh Radwan, where displaced Palestinians were sheltering, setting tents on fire. 972 Magazine reported in July that the Israeli military regularly uses drones to drop grenades on civilians to enforce evacuation orders.Residents also told Reuters that the IDF is using explosive-laden armored vehicles to destroy homes in Sheikh Radwan. According to The Associated Press, Israeli attacks on Wednesday killed at least 15 people, including two children and four women, in Gaza City.The Israeli military is telling the civilians in Gaza City to flee to the south, but it also continues to bomb southern Gaza. According to Nasser Hospital in the southern city of Khan Younis, at least 16 Palestinians were killed, including 10 who were seeking aid, in the area. The Health Ministry said that it recorded the killing of 33 aid seekers over the 24-hour period.The ministry said that since October 7, 2023, its violent death toll has reached 63,746 martyrs, and the number of wounded has climbed to 161,245. Studies have found that the ministry’s numbers are likely a significant undercount.
World's Leading Genocide Scholars Association Says Israel Is Committing Genocide in Gaza - The world’s largest association of genocide scholars has concluded that Israel is committing genocide in Gaza, passing a resolution making the determination with the approval of 86% of its members who voted.The International Association of Genocide Scholars said in the resolution that Israel’s “policies and actions in Gaza meet the legal definition of genocide in Article II of the United Nations Convention for the Prevention and Punishment of the Crime of Genocide (1948).”IAGS President Melanie O’Brien said 28% of the group’s 500 members voted on the resolution, a rate that’s typical of the group’s resolutions.The resolution recognized that since the Hamas attack on October 7, 2023, the Israeli government has committed “systematic and widespread crimes against humanity, war crimes, and genocide, including indiscriminate and deliberate attacks against the civilians and civilian infrastructure.” Palestinian woman Soha Tafesh carries the body of her granddaughter Sarah Abu Daf, who was killed in an early morning Israeli strike on a house, according to medics, at a cemetery in Gaza City, August 13, 2025. Abu AlkasIt said that Israel’s actions against Palestinians have included “torture, arbitrary detention, and sexual and reproductive violence; deliberate attacks on medical professionals, humanitarian aid workers, and journalists; and the deliberate deprivation of food, water, medicine, and electricity essential to the survival of the population.”The resolution recognized Israeli officials making “statements of ‘intent to destroy’, characterizing Palestinians in Gaza as a whole as enemies and ‘human animals’ and stating the intention of inflicting ‘maximum damage’ on Gaza, ‘flattening Gaza,’ and turning Gaza into ‘hell.'” The conclusion of the IAGS aligns with many leading human rights organizations,including Israeli groups, and determinations that genocide and Holocaust scholars have reached individually. “People who are experts in the study of genocide can see this situation for what it is,” Melanie O’Brien, the president of the IAGS and a professor of international law at the University of Western Australia, told The Associated Press.Antiwar.com asked the State Department for a comment on the IAGS resolution and has yet to receive a reply. The US government has repeatedly denied that Israel is committing genocide in Gaza since US officials would be implicated due to Israel’s reliance on US military aid to conduct military operations. The IAGS resolution also noted Israeli Prime Minister Benjamin Netanyahu’s support for President Trump’s previous calls for the removal of Palestinians from Gaza. The resolution said it recognized that “Netanyahu has endorsed the current US President’s plan to forcibly expel all Palestinians from the Gaza Strip, with no right of return, in what Navi Pillay, head of the UN Commission of Inquiry on the Occupied Palestinian Territory, has said amounts to ethnic cleansing.”
Israeli Official Says Israel May Halt the Meager Aid Entering Northern Gaza Amid Famine - An Israeli official told The Associated Press on Saturday that Israel is planning to halt or slow the meager aid supplies that are entering Gaza City and other parts of northern Gaza as Israel is expanding its military offensive amid a famine in the area.The UN-backed Integrated Food Security Phase Classification (IPC) and the US-funded Famine Early Warning Systems Network (FEWS Net) have both determined that famine is taking place in the Gaza Governorate, which includes Gaza City. In the areas to the north of Gaza City, the hunger monitors say famine is likely occurring and may actually be worse, but they lack the data to make a formal declaration.The Israeli official speaking to the AP said that in the coming days, Israel would stop allowing aid drops over Gaza City and start limiting the number of trucks that can enter northern Gaza, steps that will ensure more people will starve to death. A day earlier, the Israeli military said it would stop so-called “humanitarian pauses” of its attacks in Gaza City and declared the entire city a “combat zone.”The IDF is trying to force the more than 1 million Palestinian civilians sheltering in Gaza City to southern Gaza as part of its plans to take over the city and raze it to the ground. The Israeli military estimates that just 10,000 Palestinians have fled Gaza City and headed south since it announced its plans to forcibly displace the civilian population and ramped up its bombing of the city.Palestinian civilians in Gaza City aren’t leaving for a number of reasons, including the fact that Israel continues to bomb southern Gaza, meaning there’s nowhere safe to go. Aid groups say that southern Gaza doesn’t have the capacity to absorb another mass displacement.Many sick and malnourished civilians don’t have the strength for another forced displacement, which would likely be a death sentence for people already struggling to survive. Palestinians also believe that once they leave Gaza City, they will never be able to return, as Israeli officials have made clear their ultimate goal is the ethnic cleansing of the Palestinian territory.
Humanitarian Flotilla Departs Spain in Biggest Attempt to Break the Israeli Blockade on Gaza - A humanitarian flotilla of about 20 boats carrying food, water, and medicine departed Barcelona, Spain, on Sunday in the biggest attempt yet to break the Israeli blockade on Gaza, as Palestinians in the besieged territory are starving to death every day.The boats are the first to head for Gaza under the Global Sumud Flotilla and are expected to be joined by dozens more as they make the voyage. According to The Associated Press, Saif Abukeshek, a spokesman for the group, said the total number of boats could reach 70, and they are expected to reach Gaza by September 14 or September 15.The flotilla marks the fourth attempt in 2025 to break the Israeli siege on Gaza, but it’s the first time this year that more than one boat will head to Gaza’s coast. The first boat to try to break the blockade this year, the Conscience, came under Israeli drone attack off the coast of Malta in May, halting its journey. In June, another boat, the Madleen, made it close to Gaza’s coast before being boarded and seized by Israeli forces and taken into an Israeli port. The third boat, the Hamdala, was also captured by Israeli forces, and the humanitarian aid it was carrying was seized when it attempted to break the blockade in late July. Back in 2010, Israeli forces raided six boats attempting to break the blockade on Gaza, and nine Turkish activists were killed on one of the vessels. Thousands of supporters gathered at the pier in Barcelona on Sunday to bid farewell to the flotilla. Greta Thunberg, the well-known Swedish activist, is on board one of the boats headed to Gaza and spoke to the press before the departure. She previously attempted to break the Israeli siege on the Madleen.“It has been very clear that Israel has been continuously violating international law by either attacking, unlawfully intercepting the boats in international waters, and continuously preventing the humanitarian aid from coming in,” Thunberg told the APon Saturday.The departure of the flotilla comes after the UN-backed Integrated Food Security Phase Classification (IPC) and the US-funded Famine Early Warning Systems Network (FEWS Net) confirmed that famine is taking place in the Gaza Governorate, which includes Gaza City, where the Israeli military is escalating its genocidal assault.
On Israel, Australia, And Racism - Caitlin Johnstone --Israeli journalist Gideon Levy has a new article in Haaretz titled “Most of Israel’s Protest Movement Only Cares About the Lives of the Gaza Hostages — Not of Palestinians” where he discusses his frustration and disgust with the massive disparity between the value his countrymen place on Israeli and Palestinian lives.“They worry about the lives of 20 hostages while ignoring the fact that their country kills 20 innocent people an hour on average,” Levy writes. “For them, humanity stops at the borders of nationality. They’ll leave no stone unturned to help any Israeli but avert their gaze with a lack of interest in the case of a Palestinian whose fate is often much worse. They are enraged at Benjamin Netanyahu’s cold-heartedness, but theirs is no less evident. When it comes to Palestinians, they exhibit the same evil and cold hearts.” “How can one be shocked at the sight of starving hostage Evyatar David and shrug or even rejoice at the killing taking place in lines for food?” askes Levy. “How can one be shocked at the murder of the Bibas family yet show no interest in the 1,000 babies and 19,000 children killed by the IDF, or in the 40,000 Gazan orphans? How can one lose sleep over Hamas tunnels and show no interest in what goes on at the Sde Teiman or Megiddo detention centers, to our shame? How is this possible?” And, of course, we know how it’s possible. It’s possible because of racism. It’s possible because Israelis see Palestinians as subhuman savages whose lives are worth far less than their own. Levy acknowledges this further down in his piece: “Viewing human beings — children, the disabled, the elderly, women, and other helpless people as dust, as people whose killing and starvation are legitimate, with their property worthless and their dignity non-existent — is tantamount to being Netanyahu, Ben-Gvir and Smotrich.“Opposing total evil, one must stand for total humanity, which is almost non-existent in Israel.”This is why I always dismiss anyone who tries to defend Israel by citing its widespread protests. They’re not protesting against the genocide, they’re protesting because of Israeli captives and Israeli casualties. It’s a shitty, racist society full of shitty, racist people. I’ve been thinking about racism more than usual today because of the discourse around anti-immigrant protests this weekend here in Melbourne and around Australia, which were both full of violent neo-Nazis and numerous Israeli flags.The Zionist institutions of Australia who’ve been shrieking their lungs out about pro-Palestine protests these last two years seem to be pretty chill about actual Nazis marching through their streets. All the ugliest things about Australia are also the ugliest things about Israel, and our ugly things happen to get along swimmingly with theirs. To be racist is to admit that you are a dull, vapid person. It’s an admission that you are so intellectually, emotionally and spiritually shallow that you can only enjoy and connect with other human beings in the most superficial of ways. There is no depth to you. There has been no growth in you. You are stunted. You have been wasting your time on this planet instead of maturing and expanding your connectedness with the gift of human life.If you have been growing and maturing, your ability to delight in other people isn’t limited by skin color, culture, language, national background, or religion. You understand that there are whole universes within us beyond those few superficial differences, and we are able to connect with each other on all those various levels in a limitless number of ways. You don’t fear and shun the differentness of others, you take immense enjoyment from it. If you have not been growing and maturing, you lack the ability to enjoy and connect with people who are different from you and your family. You are unaware of the universes within you and within others, so you believe your ability to welcome others into your neighborhood is limited to the most surface-level aspects of them like their skin color, their accent, the way they dress, or their religious beliefs. It’s all you understand about yourself, so it’s all you value in others.This is a symptom of a shallow, uninteresting life. Your mind is boring and superficial, because you set up all these walls around it to stop it from growing. Your heart is hardened and cloistered, because you set up barriers to keep people out. Your spirit is stagnant and impoverished, because you placed too many limitations on its natural outpouring. You’re still splashing around in the kiddie pool of the human condition.It’s a waste of a human lifetime to live like this. Open yourself up. Soften your heart. Broaden your mind. Make connections. Delight in the myriad manifestations with which humanity can show up. There is just as much dazzling beauty in other humans as there is in the natural world, and if you can’t see it that’s a defect in your own character. If you don’t learn to grow beyond those limitations, you cut yourself off from unfathomable depths of the human experience that you could instead be taking great joy in.Don’t waste your life on racism. Don’t waste your life on Islamophobia, homophobia, transphobia, or any of the other crude ways we cut ourselves off from the connectivity and appreciation that we are all capable of. Deepen your roots and grow into a mature human being.
