US oil exports at an 89 week high, net imports at a record low; distillate exports at 23 mo low, distillate supply at 35 week hi

US oil prices finished the past week virtually unchanged, after rising three out of the prior four weeks, as worries about the U.S. economic outlook offset ​​risks to supply from accelerated Ukrainian attacks on Russian energy infrastructure….after rising 1.3% to $62.69 a barrel last week after Israel attacked Qatar, Yemen, Syria and Lebanon, Ukraine attacked Russian oil infrastructure, and Russian drones attacked Poland, the contract price for the benchmark US light sweet crude for October delivery continued to rise in early overseas trading on Monday, after Ukraine launched fresh drone attacks on Russian refineries and ports, disrupting crude operations at key export hubs, ​and then edged higher in US trading as traders weighed Trump’s threat to sanction Russian oil, but only if NATO countries ceased their purchases first, and settled 61 cents higher at ​$63.30 a barrel, underpinned by risks to supply from Ukrainian attacks on Russian energy facilities and Trump’s renewed calls for secondary sanctions on Russian crude buyers…oil prices rose during Tuesday's Asian trading ​session after continued Ukrainian drone attacks on Russian refineries, then rallied higher after Russia’s Transneft warned producers that they m​ight have to cut their output following the Ukrainian drone attacks on export ports and refineries, and settled $1.22 higher at $64.52 a barrel as traders weighed the possibility that Russian supplies might be disrupted by the Ukrainian attacks, and awaited the Federal Reserve's decision on U.S. interest rates…oil prices slipped lower in early overseas trading early Wednesday, with the market's focus now squarely on the pending conclusion of the U.S. Fed policy meeting, and remained under pressure in the European morning, even though the American Petroleum Institute reported a drop in US crude oil inventories, then traded back towards its high in US trading after the EIA report showed a larger than expected draw from crude inventories, only to give up some of its gains on a larger than expected build in distillates stocks, and settle 47 cents lower at $64.05 a barrel as the data showing an increase in U.S. diesel stockpiles stoked worries about demand, while the U.S. Federal Reserve cut interest rates as expected….oil prices fell for the second consecutive session during Asian trading on Thursday as traders weighed the Fed’s decision to cut interest rates against persistent concerns over United States fuel demand and oversupply, then fluctuated between small gains and losses Thursday morning in New York, after the weekly EIA oil inventory report sent mixed signals about the state of oil and fuel demand, but faded to settle 48 cents lower at $63.57 a barrel as worries about the U.S. economic outlook outweighed the Fed’s cut interest rate cut…oil prices slipped lower during Asian trading hours on Friday, on growing concerns over slowing U.S. demand, then pared the weekly gain as renewed calls by Donald Trump for lower prices to pressure Moscow to end the war in Ukraine weighed against renewed attacks on Russian energy infrastructure, and settled 89 cents or 1.4% lower at $62.68 a barrel as worries about excess supplies and declining demand outweighed expectations that the year's first interest-rate cut by the Fed would trigger more consumption, and thus finished a penny lower for the week …

meanwhile, natural gas prices finished lower for the seventh time in nine weeks, on an unexpectedly bearish increase in ​natural gas inventories and a shift to milder weather forecasts…after falling 3.5% to $2.941 per mmBTU last week on reduced demand from LNG export plants and on a larger than expected injection of natural gas into storage, the price of the benchmark natural gas contract for October delivery opened a bit lower on Monday, but moved steadily higher throughout the morning, as updated forecasts were calling for increased cooling demand, and settled with a 10.2 cent gain at $3.043 per mmBTU, on short covering following the warmer forecasts and on a slight drop in gas well output during September….Buoyed by late season cooling demand, October natural gas opened 3.0 cents higher Tuesday, and trended higher throughout the session to settle 6.0 cents higher at $3.103 per mmBTU, as shifting weather patterns, tropical activity and changes in LNG feed gas demand and production sent mixed signals, and fueled a turbulent trading session…natural gas prices ​then started Wednesday 4.6 cents higher, as the recent supportive fundamentals held overnight, but trended lower after that brief morning spurt to settle three-tenths of a cent lower at $3.100 per mmBTU, as supportive weather forecasts ran up against expectations of another large storage injection…natural gas opened 4.0 cents lower Thursday. then traded around the $3.035 level leading up to the weekly storage report's publication, when a bearish injection report directed the contract to pull back and settle 16.1 cents lower at $2.939 per mmBTU, as the bearish EIA storage surprise refocused the natural gas market on rapidly rising storage levels - and ​the risk of a storage overshoot before winter…natural gas futures ticked lower early on Friday as traders digested forecasts for milder weather and the robust supply readings, then traded lower through early afternoon, hampered by plump storage and falling weather demand, and settled 5.1 cents lower at $2.888 per mmBTU, as milder weather forecasts and planned LNG plant maintenance reduced expected gas demand, leaving gas prices 1.8% lower for the week…

The EIA’s natural gas storage report for the week ending September 12th indicated that the amount of working natural gas held in underground storage rose by 90 cubic feet to 3,433 billion cubic feet by the end of the week, which left our natural gas supplies 4 billion cubic feet, or 0.1% less than the 3,437 billion cubic feet of gas that were in storage on September 12th of last year, but 204 billion cubic feet, or 6.3% more than the five-year average of 3,229 billion cubic feet of natural gas that had typically been in working storage as of the 12th of September over the most recent five years….the 90 billion cubic foot injection into US natural gas storage for the cited week was more than the 83 billion cubic foot addition to storage that the market was expecting ahead of the report, and was considerably more than the 56 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 74 billion cubic foot addition to natural gas storage that has been typical for the same early September 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 September 12th indicated that after our oil imports fell ​a​nd our oil exports almost doubled from the prior week, we had to pull oil out of our stored crude supplies for the fifteenth time in thirty-two weeks, and for the 28th time in sixty-two weeks, despite a big increase in oil supplies that the EIA could not account for….Our imports of crude oil fell by an average of 579,000 barrels per day to average 5,692,000 barrels per day, after falling by an average of 471,000 barrels per day over the prior week, while our exports of crude oil rose by an average of 2,532,000 barrels per day to an 89 week high of 5,277,000 barrels per day, which, when used to offset our imports, meant that the net of our trade of oil worked out to a record low net import average of 415,000 barrels of oil per day during the week ending September 12th, an average of 3,111,000 fewer 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 269,000 barrels per day, while during the same week, production of crude from US wells was 13,000 barrels per day lower than the prior week at 13,482,000 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 14 166,000 barrels per day during the September 12th reporting week…

Meanwhile, US oil refineries reported they were processing an average of 16,424,000 barrels of crude per day during the week ending September 12th, an average of 394,000 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 1,254,000 barrels of oil per day were being pulled from 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 storage, from net imports, from transfers, and from oilfield production during the week ending September 12th averaged a rounded 1,003,000 fewer barrels per day than what 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 [+1,003,000 ] 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 size in the week’s oil supply & demand figures that we have just transcribed… Moreover, since 70,000 barrels per day of demand for oil could not be accounted for in the prior week’s EIA data, that means there was a 1,073,000 barrel per day difference between this week’s oil balance sheet error and the EIA’s crude oil balance sheet error from a week ago, and hence the changes to supply and demand from that week to this one that are indicated by this week’s report are off by that much, meaning the week over week changes that we have just cited are completely useless…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 1,254,000 barrel per day average decrease in our overall crude oil inventories came as an average of 1,326,000 barrels per day were being pulled out of our commercially available stocks of crude oil, while 72,000 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 fell to 6,235,000 barrels per day last week, which was 2.4% less than the 6,385,000 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 13,000 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 unchanged at 13,077,000 barrels per day, because Alaska’s oil production was 13,000 barrels per day lower at 405,000 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 still 2.9% higher than that of our pre-pandemic production peak, and was also 39.0% 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 93.3% of their capacity while processing those 16,424,000 barrels of crude per day during the week ending September 12th, down from the 94.9% utilization rate of a week earlier, but still a bit on the high side of the normal post-pandemic utilization rate for this time of year…. the 16,424,000 barrels of oil per day that were refined that week were 0.3% less than the 16,477,000 barrels of crude that were being processed daily during the week ending September 13th of 2024, and were 1.7% less than the 16,707,000 barrels that were being refined during the prepandemic week ending September 13th, 2019, when our refinery utilization rate was at 91.2%, which was on the low side of the pre-pandemic normal range for this time of year…

With the decrease in the amount of oil being refined this week, gasoline output from our refineries was also lower, decreasing by 180,000 barrels per day to 9,407,000 barrels per day during the week ending September 12th, after our refineries’ gasoline output had decreased by 285,000 barrels per day during the prior week.. This week’s gasoline production was 2.6% less than the 9,661,000 barrels of gasoline that were being produced daily over the week ending September 13th of last year, and 0.5% less than the gasoline production of 9,451,000 barrels per day seen during the prepandemic week ending September 13th, 2019….at the same time, our refineries’ production of distillate fuels (diesel fuel and heat oil) decreased by 274,000 barrels per day to 4,955,000 barrels per day, after our distillates output had decreased by 24,000 barrels per day during the prior week. With this week’s production decrease, our distillates output was 2.0% less than the 5,056,000 barrels of distillates that were being produced daily during the week ending September 13th of 2024, and 3.0% less than the 5,109,000 barrels of distillates that were being produced daily during the pre-pandemic week ending September 13th, 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 8th time in nine weeks and for the 21st time in twenty-nine weeks, decreasing by 2,347,000 barrels to 217,650,000 barrels during the week ending September 12th, after our gasoline inventories had increased by 1,458,000 barrels during the prior week. Our gasoline supplies decreased this week because the amount of gasoline supplied to US users rose by 302,000 barrels per day to 8,810,000 barrels per day, and because our imports of gasoline fell by 112,000 barrels per day to 569,000 barrels per day, while our exports of gasoline fell by 21,000 barrels per day to 972,000 barrels per day….Even after twenty-three gasoline inventory withdrawals over the past thirty-two weeks, our gasoline supplies were only 1.8% below last September 13th’s gasoline inventories of 221,621,000 barrels, while just 1% below the five year average of our gasoline supplies for this time of the year…

Even with the decrease in this week’s distillates production, our supplies of distillate fuels rose for the 18th time in 37 weeks, increasing by 4,016,000 barrels to a thirty-five week high of 124,684,000 barrels during the week ending September 12th, after our distillates supplies had increased by 4,715,000 during the prior week.. Our distillates supplies increased by less this week because the amount of distillates supplied to US markets, an indicator of domestic demand, rose by 244,000 barrels to 3,621,000 barrels per day, and because our imports of distillates fell by 122,000 barrels per day to 95,000 barrels per day, while our exports of distillates fell by 543,000 barrels per day to a twenty-three month low of 851,000 barrels per day... With 48 withdrawals from inventories over the past 85 weeks, our distillates supplies at the end of the week were still 0.4% below the 125,148,000 barrels of distillates that we had in storage on September 13th of 2024, and still about 8% below the five year average of our distillates inventories for this time of the year…

Finally, after the big jump in our oil exports and the decrease in our oil imports, our commercial supplies of crude oil in storage fell for the 14th time in twenty-six weeks, and for the 24th time over the past year, decreasing by 9,285,000 barrels over the week, from 424,646,000 barrels on September 5th to 415,361,000 barrels on September 12th, after our commercial crude supplies had increased by 3,939,000 barrels over the prior week… After this week’s big decrease, our commercial crude oil inventories fell to 5% below the recent five-year average of commercial oil supplies for this time of year, while they were also about 26% above the average of our available crude oil stocks as of the second weekend of September 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 September 12th were 0.5% below the 417,513,000 barrels of oil left in commercial storage on September 13th of 2024, and 0.7% less than the 418,456,000 barrels of oil that we had in storage on September 15th of 2023, and were 3.3% less than the 429,633,000 barrels of oil we had left in commercial storage on September 9th of 2022…

This Week’s Rig Count

The US rig count was up by three over the week ending September 19th, the third consecutive increase, as rigs targeting oil increased by two, and miscellaneous rigs increased by one, while the number of rigs targeting natural gas were unchanged…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 19th, the second column shows the change in the number of working rigs between last week’s count (September 12th) and this week’s (September 19th) count, the third column shows last week’s September 12th 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 20th of September, 2024…

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Strs Ohio Acquires Shares of 871,287 Kinder Morgan, Inc. $KMI --Strs Ohio (State Teachers Retirement System of Ohio) acquired a new stake in Kinder Morgan, Inc. (NYSE:KMI -Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 871,287 shares of the pipeline co​mpany's stock, valued at approximately $24,858,000. Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.

Strs Ohio Purchases Shares of 169,000 Cheniere Energy, Inc. $LNG – - Strs Ohio (State Teachers Retirement System of Ohio) acquired 169,000 shares of Cheniere Energy (NYSE:LNG - Get Free Report), valued at approximately $39.1 million, representing about 0.08% ownership of the company. Cheniere Energy's stock has been rated highly by analysts, with a consensus target price of $263.29, including multiple "buy" ratings and a recent price target increase to $270.00 by TD Cowen. Cheniere reported a quarterly earnings of $7.30 EPS, surpassing estimates significantly and showing a year-over-year revenue increase of 42.8%. Cheniere Energy, Inc, an energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States. It owns and operates the Sabine Pass LNG terminal in Cameron Parish, Louisiana; and the Corpus Christi LNG terminal near Corpus Christi, Texas. The company also owns Creole Trail pipeline, a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several interstate and intrastate pipelines; and operates Corpus Christi pipeline, a 21.5-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.

Ohio Oil and Gas Association's 7th annual community charity event raises $25,000 for Utica Shale Academy – The Ohio Oil and Gas Association (OOGA) recently hosted its 7th annual community charity event, this year called the OOGA Road Rally, at K1 Racing in Stark County. The event brought together more than 50 go-kart drivers from across the region, raising $25,000 to support the students and staff of the Utica Shale Academy (USA). Thanks to the generosity of OOGA member, Williams, which sponsored the venue, and Blackstar, which sponsored the lunch, 100% of the donations raised were directed towards the Utica Shale Academy. The annual OOGA Community Charity event has become a signature event for the Association, combining industry camaraderie with a commitment to giving back. This year’s proceeds will directly benefit Utica Shale Academy, a program dedicated to preparing students for careers in the oil and gas industry and beyond. “Supporting Utica Shale Academy means investing in the next generation of skilled workers who will help drive Ohio’s energy future.” Utica Shale Academy Superintendent Bill Watson expressed his appreciation for the continued partnership. “The generosity of OOGA and its members provides our students with opportunities and resources that directly impact their education and career readiness,” said Watson. “We are proud to partner with an organization that not only powers Ohio but also powers possibilities for our young people.”

Potential Suitors Emerge for Antero's Ohio Utica—Analysts | Hart Energy -Antero Resources' 82000 net acres in the Ohio Utica Shale core may fetch interest from a who's-who list of leading Appalachia E&Ps, analysts say.

Potential Buyers Emerge for Antero Resources’ Ohio Utica Assets -- Marcellus Drilling News - Earlier this month, we brought you the bombshell news that 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 (see Rumor: Antero Preparing to Sell Ohio Utica Upstream, Midstream). The rumors keep coming that Antero’s 82,000 net acres in the Utica, as well as long-haul takeaway and supporting midstream assets, are catching the attention of several big M-U companies.

Gas line rupture shuts down busy street in Troy; homes evacuated - WHIO-TV - WHIO-TV Crews in Troy have shut down a busy road and evacuated several homes after a gas line was struck Wednesday afternoon

Unity Elementary, neighborhood evacuated for around 3 hours after gas line was hit | Allen County — Part of South Lima was evacuated Thursday morning after a construction crew broke a large gas line. The Lima Fire Department responded to the area of South Sugar Street and Holmes Avenue before 11 a.m. after crews working nearby ruptured the line. Firefighters evacuated more than a block surrounding the incident, including Unity Elementary School. Officials said there was no shutoff valve in the area of the break. Enbridge Gas was called to the scene to seal the leak. Enbridge competed repairs at 2:30 pm and everyone was able to return home after that.

Second Utica-Fired Power Plant for Facebook Nears Approval in Ohio - Marcellus Drilling News - -In early April, MDN brought you the exciting news that pipeline giant Williams, via its subsidiary, Will-Power, is planning to build two Utica/Marcellus gas-fired power plants in the New Albany International Business Park in Licking County, Ohio (see Williams Subsidiary Unveils Plans for Gas-Fired Power Plant in Ohio). The two projects are called the Socrates North and Socrates South power plants and will power a data center complex at that location. In early June, the Ohio Power Siting Board (OPSB) authorized and approved construction for the Socrates South project (see OH Approves Williams Gas-Fired Plant to Power Facebook Data Center). Good news! The OPSB is now close to approving Socrates North. Read More“Second Utica-Fired Power Plant for Facebook Nears Approval in Ohio”

PA DEP Signals Air Plan Approval for $10B Homer City Power Plant -- Marcellus Drilling News - - In April, Knighthead Capital Management, Homer City Redevelopment (HCR), and Kiewit Power Constructors Co. announced a plan to convert the former Homer City Generating Station, previously the largest coal-fired power plant in Pennsylvania (Indiana County, 50 miles east of Pittsburgh) into a more than 3,200-acre natural gas-powered data center campus, designed to meet the growing demand for artificial intelligence (AI) and high-performance computing (see Largest Gas-Fired Power Plant in the U.S. Coming in Western Pa.). The Pennsylvania Department of Environmental Protection (DEP) said it is close to approving an air quality plan for the new facility.

EQT's Toby Rice: Marcellus Gas Key to Future of AI in U.S. - Marcellus Drilling News - The AI Horizons Pittsburgh Summit, held in Pittsburgh from Wednesday of this week through today, brought together Pennsylvania Governor Josh Shapiro, Senator David McCormick, and dozens of top AI (artificial intelligence) and industry CEOs to spotlight how Pennsylvania is leading with AI that solves complex problems, drives economic growth, and accelerates breakthroughs. One of the industry CEOs speaking yesterday was EQT CEO Toby Rice. He said natural gas in the Marcellus Shale and elsewhere will be key for the future of AI in the U.S.

French Investment Firm Sells SW Pa. Gas-Fired Power Plant for $1B -- Marcellus Drilling News - A power project we’ve been tracking since 2017 is a 620-megawatt (MW) Marcellus-fired electric plant in Greene County, PA, called the Hill Top Energy Center (see our stories here). In 2019, investment firm Ardian, based in Paris, France, announced that it had purchased a 41.9% stake in the project, becoming the majority owner (see SWPA Gas-fired Electric Plant Project Gets French Investment). In April of this year, Ardian announced it had purchased the other 58.1% stake it did not already own, becoming the sole owner (see French Investment Firm Buys Out SW Pa. Gas-Fired Power Plant). And now, Ardian has just sold it all to investment firm Blackstone Energy Transition Partners for nearly $1 billion.

26 New Shale Well Permits Issued for PA-OH-WV Sep 8 – 14 - - Marcellus Drilling News - For the week of September 8 – 14, the number of permits issued to drill new wells in the Marcellus/Utica increased from the previous week. There were 26 new permits issued across the three M-U states last week, more than doubling the 11 issued two weeks ago. For the second week in a row, Pennsylvania’s permit take was pathetic. PA issued just two new permits last week, after issuing three two weeks ago. Expand Energy received one permit in Bradford County, and Coterra Energy received the other permit in Susquehanna County (both counties in northeastern PA). ANTERO RESOURCES | ARSENAL RESOURCES | ASCENT RESOURCES | BELMONT COUNTY | BRADFORD COUNTY | CARROLL COUNTY | COTERRA ENERGY (CABOT O&G) | EOG RESOURCES | EXPAND ENERGY | GUERNSEY COUNTY | INR/INFINITY NATURAL RESOURCES | MARION NATURAL ENERGY | MONONGALIA COUNTY | NOBLE COUNTY| SUSQUEHANNA COUNTY | TAYLOR COUNTY | TYLER COUNTY

Pipeline Ruptured Near Gas Storage Well in Fayette County, PA - Marcellus Drilling News - (pic: crater created by pipeline rupture) On September 12, the Pennsylvania Department of Environmental Protection (DEP) was alerted to a pipeline rupture near a Berkshire Hathaway Eastern Gas Transmission & Storage natural gas injection well in Wharton Township, Fayette County (southwestern corner of the state). The incident occurred at the North Summit Gas Storage Area, approximately 150 feet from the R.E. Eberly UW-204 wellhead, within the boundaries of Forbes State Forest. The rupture resulted in the release of natural gas and brine, creating a crater down to the exposed and ruptured pipe.

Pitt/Duquesne Study Links EQT Frac-Out to Water Contamination -- Marcellus Drilling News - - Recently, two neighboring towns in Greene County, PA, declared a Disaster Emergency related to a “frac-out” at the EQT Lumber well that happened three years ago, in July 2022 (see Freeport Twp (PA) Declares Disaster Emergency re EQT Frac-Out and Second PA Town Declares Disaster Emergency re EQT Frac-Out). Both towns, Freeport and Springhill, claim that they have residents whose water wells were contaminated (and therefore undrinkable) following the EQT frac-out event in 2022. Both say that making this official declaration will help them qualify for government funding to run a water line into the affected areas to deliver water.

PA Environment Digest Blog: Independent Research Study By Pitt, Duquesne Ties Water Well Contamination To Shale Gas Drilling In 2 Greene County Townships That Declared Water Disaster Emergencies -An independent, peer-reviewed research study published by authors from University of Pittsburgh and Duquesne University in the journal Scientific Reports found links between a June 2022 shale gas drilling incident and private water well contamination in Freeport and Springhill Townships, Greene County.In addition, the study found the extent of water contamination was wider than initially reported. These same two townships recently declared disaster emergencies due to water well contamination from gas related drilling after three years of having residents without a permanent source of clean water. Read more here. The paper outlines a timeline of events from the June 2022 frack-out. On June 19, 2022, a “frack-out" occurred at the Lumber shale gas well pad in Springhill Township, Greene County. At the time, multiple gas well laterals were being fracked simultaneously in shale gas wells 1H, 5H, 11H, 13H, and 15H. The shale gas well pad owner was hydraulically stimulating or fracking 13H at a depth of 7,820’ (2383.5 m) and a distance of ~ 6,500’ (1981 m) from the wellhead when the fracking process “communicated” with an abandoned conventional gas well, later identified as Fox Hill #1, 3,200’ (975 m) away from the lateral. The event sent a fountain of fluids, mud, and gas spewing from the surface at the Fox Hill well. The operator was notified of the incident by the landowner of the parcel where frack-out fluids reached the land surface. The frack-out created a sinkhole where pressure forced fluids to the surface through the abandoned conventional well. The community was then alerted of the incident through a Facebook post by the township supervisors advising people not to use their water. The “Zone of Impact” as designated by the shale gas driller was reported in the Facebook post as “Main Street from the Firehall west to Herod’s Run” Once the frack-out had been discovered, hydraulic stimulation of 13H was halted, but fracking continued in the adjacent lateral 11 H. All drilling activity on the Lumber shale gas pad ceased on June 22, 2022. DEP issued several violations including failure to report the frack-out and continuing the fracking after the incident. The company appealed a later fracking stoppage request by DEP in September of 2023 and reached a settlement before the Environmental Hearing Board in late November that allowed drilling operations to resume. Read more here. Fracking recommenced in mid-December but shut down again in January of 2024 after a “microseismical event” reported by the Lumber shale gas well pad owner. The well shut down again in February of 2024. Water Sampling The first well water samples reported in the research study were collected on June 27, 2022, with additional samples collected on 14 trips through February 2024. Most early sampling was focused in the area surrounding the zone of impact. Later sampling included a much larger zone of interest. Among the 75 samples, 45 samples were in the impacted cluster, while the remaining 30 were in the non-impacted cluster. The study results show "distinct chemistries" in areas surrounding the Fox Hill 1 well that indicate the influence of water from the frack-out, the study said. There were higher levels of barium, strontium, magnesium, lithium and 98% of the impacted samples had measurable levels of methane suggesting connections of fracking activities. These impacted waters were primarily located in valley bottoms consistent with migration of methane and water through the fracture zones typically associated with valleys in the region, according to the study. In the area surrounding the apparent primary surface conduit of the frack-out (i.e., the Fox Hill #1 well) chemical indicators are consistently and significantly different in the direction of oil and gas wastewater when compared to chemistries outside this area. The study noted, in the evaluations of the frack-out, the tendency to not utilize all of the potential chemical tracers like bromine and lithium is a consistent shortcoming in the evaluation of unconventional petroleum extraction impacts. The obscuring of tracer data due to rigidity in simple lab approaches is not acceptable and results in incomplete and potentially incorrect assessments of unconventional petroleum extraction impacts. The study notes the area has a legacy of coal mining, but the area around New Freeport is not impacted by acid mine drainage that would contaminate water. Click Here for a copy of the study. These reports are consistent with how Guy Hostutler, Chairman of the Board of Supervisors in Freeport Township characterized the June 2022 frack-out incident as a “bright line.” “We had no complaints of any issues with any shallow wells, whether they be oil and gas or water until after the event on June the 19th of 2022,” said Hostutler. Hostutler said he is familiar with the kind of water contamination oil and gas operations can cause because he worked in the industry for 25+ years. Oil and gas inspection records from DEP back that up. Read more here.

Study ties Southwestern Pa. communities' water woes to 2022 EQT frack-out and narrow state law • Three years and three months after fluid erupted along Main Street in the rural Greene County hamlet of New Freeport, a scientific study published Wednesday contends that the Pittsburgh gas giant EQT contaminated local water, and casts doubt on current standards of regulatory oversight.The new research comes after two Greene County townships recently issued disaster declarations, while a judge in August declined to grant an injunction in an ongoing class-action lawsuit that would have compelled EQT to provide clean water to residents.The peer-reviewed study published in Scientific Reports analyzed 75 local water samples in and around New Freeport, finding evidence of oil and gas brine and methane in more than half of the samples. Around one-fifth of the samples had methane above the state action limit, including two with “explosive levels” of gas, according to author John Stolz of Duquesne University. EQT did not respond to a request for comment for this story. The study concludes, based on evidence from New Freeport, that frack-outs — when fluid injected into the ground to fracture shale and release gas instead communicates with an abandoned well, sometimes arriving at the surface — can “result in widespread contamination” of underground water sources even well outside of currently regulated impact zones. The paper’s analysis found that “the extent of the contamination was wider than initially reported.”“Here we have a situation that clearly demonstrates communication at 7,800 feet all the way to the surface,” said Stolz, a microbiology professor who specializes in water quality. Post-frack-out water chemistry clearly shows “through the presence of methane and other light hydrocarbons, that people no longer have potable water.”The study cites Public Source reporting, published last year, that revealed video evidence of gas and fluid spewing from the ground on June 19, 2022, when the frack-out occurred, and workers observing a “direct correlation” between EQT’s fracking and an abandoned well in New Freeport.EQT has publicly denied responsibility since the incident, arguing in filings to the state Environmental Hearing Board that there was “no evidence” to support that a communication incident had occurred. Confronted by residents in August 2023, CEO Toby Rice said he did not believe EQT was responsible.Stolz said his research also shows that current regulation is insufficient to protect communities. State law sets a “zone of presumption” of a 2,500-foot radius around wells, and says that fracking operators are required to provide residents in that circle with water after suspected contamination or water loss. “The main area of impact [in New Freeport] is well out of the zone of presumption,” Stolz said. “And so therefore there’s no recourse for the harmed families.” The study suggested that “at least a 5,000-foot buffer would be more appropriate.”The zone of presumption was adopted before operators were drilling thousands of feet and injecting fluids at high pressures. The regulation “in no way contemplated the kind of drilling we’re seeing now,” said former state Department of Environmental Protection [DEP] Secretary David Hess. “It’s really an antiquated concept,” he added. “It really needs to be updated.”“These people have a problem that is not their fault,” Hess said. “The government’s role should be to step in and fix it, to provide water until the problem is identified.” Instead, under current laws, the DEP is under no obligation to require EQT to provide water for people who are outside the zone of presumption. “They’re left out to dry until DEP has the resources to look into it,” Hess said.The DEP did not immediately respond to a request for comment.EQT is providing water to some area residents, and nearly every home along Main Street in New Freeport is connected to a large tank of water, refilled weekly.In November 2023, EQT mailed residents letters, offering to install water treatment systems or to continue supplying water, in exchange for non-disclosure agreements barring residents from publicizing the arrangement or disparaging EQT, and absolving EQT from future liability for property damage or personal injury.Stolz said he’s spent over 15 years trying to address the question: Does fracking impact sources of water?Wednesday’s research, Stolz said, dispels two “myths of the Marcellus,” proving that fracking can and does contaminate groundwater, and casting doubt on the industry contention that “what goes on at 8,000 feet [below ground] does not impact the surface.”The research also found that communication events occur at roughly 1% of wells in Pennsylvania, based on DEP data.“Residents should feel a lot of validation,” said Sarah Martik, executive director of the Center for Coalfield Justice, which has supported residents by distributing water, hosting town hall meetings and contacting local elected officials since the incident. “Clearly there is something happening in that aquifer.”Martik said the organization has continued to receive new reports of contamination, and more residents coming out to public meetings.“The watershed continues to be at risk,” said Stolz, and EQT continues to frack in the area.The latest research comes as local officials sound the alarm. In June, the Freeport Township Board of Supervisors declared a state of emergency.“A contamination event caused by actions of EQT has caused or threatens to cause injury, damage and suffering to persons and property of Freeport Township,” the declaration reads. It notes:

• The lack of public water in the rural town
• Testing that shows contamination
• Warnings to the DEP and EQT that the “water is hazardous and unsafe for use”
• Resident reports of discoloration, odor and skin rashes after using water from private wells.

In August, neighboring Springhill Township declared a similar emergency.Freeport Township Supervisor Tim Brady said the disaster declaration “was a last resort,” adding that it opens up access to state and federal grants that could help bring clean water to the community. The goal, he said, is to fund a public water line that would run roughly 13 miles from Rogersville to New Freeport and would cost roughly $12 to $15 million.Brady did not know, though, if EQT would contribute to that cost or if it might fall entirely on the Pennsylvania taxpayer.“They’re still drilling,” he said, “They haven’t slowed down any. The DEP gives them permits left and right.”Regardless, he said, bringing public water to the community will take time: “We all know how government moves,” Brady said. “We’re not going to have water for seven to eight years. We’re forgotten out here.”

Eureka Proposes Plan to Clean Up, Close All 3 PA Wastewater Plants -- Marcellus Drilling News - - On August 17, Eureka Resources’ Williamsport 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). That event led to the Pennsylvania Department of Environmental Protection launching an investigation into all three of Eureka’s shuttered plants, two in Williamsport (Lycoming County), and one in Bradford County. The DEP found untreated wastewater stored at each facility—over 4.6 million gallons in total—and has demanded Eureka dispose of it within 90 days

PA DEP: Spill Cleanup at Eureka Williamsport Plant Nearly Complete - Marcellus Drilling News - On August 17, Eureka Resources’ Williamsport 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). Two weeks ago, the Pennsylvania Department of Environmental Protection (DEP) provided an update on the cleanup of the spill to say half of the leaked wastewater had already been recovered (see PA DEP Reports Half of Eureka 16,000 Gal. Wastewater Leak Recovered). We have a new update: nearly all of what spilled that can be gathered, has been collected.

Anti Group Claims Clock Ran Out for CNX to Drill 2 Penn Twp Wells-- Marcellus Drilling News - - In June, we reported that the Pennsylvania Environmental Hearing Board (EHB), a special court in PA that hears appeals of decisions made by the Department of Environmental Protection (DEP), had ruled in favor of CNX Resources to allow two previously permitted wells in Penn Township (Westmoreland County) to move forward with construction (seeAnti-Shale Group Loses EHB Appeal to Block CNX Wells in SWPA). A local anti-shale group called Protect PT, backed with Big Green money and lawyers, appealed the decision to the state’s Commonwealth Court. CNX has also appealed the EHB decision. While the lawsuit plays out, the original DEP permits in question have expired. Protect PT claims CNX will need to reapply all over again—that the clock has run out.

Expand Energy Positioning for Natural Gas Growth from LNG, Data Centers with Appalachia as Cornerstone -U.S. natural gas is reshaping global markets with Expand Energy Inc. leveraging scale, efficiency and innovation to maintain its lead as the largest domestic producer, CEO Nick Dell’Osso said Wednesday. Table showing NGI’s ranking of the top 30 publicly traded U.S. natural gas producers by output in 2Q2025, measured in million cubic feet per day (MMcf/d). Expand Energy leads with 6,596 MMcf/d, followed by EQT Corp. at 5,873 MMcf/d and ExxonMobil at 3,313 MMcf/d. Other top producers include Chevron, Coterra Energy, and Antero Resources. The table also displays 1Q2025 and 2Q2024 volumes, quarter-over-quarter and year-over-year percentage changes, and total production across all listed companies at 49,527 MMcf/d. Data source: NGI, company documents, Bloomberg. At A Glance:
Output flexing with price swings
Appalachia drilling efficiency hits records
Pipeline limits stall Appalachian growth

AXPC Study Finds Independents Produce 90% of Onshore Natural Gas -- Marcellus Drilling News -- The American Exploration & Production Council (AXPC) yesterday released a new study (full copy below) analyzing the upstream oil and natural gas sector’s profound impact on the U.S. economy. The study found that upstream, onshore independent producers supported 3.1 million jobs nationally, contributed to $277 billion in labor income, and paid $129 billion in taxes — accounting for 87% of the sector’s total economic contributions in 2024. As vital contributors to America’s energy security, independents accounted for over 85% of onshore crude and condensate production and over 90% of onshore gas production from 2022 to 2024.

Antis Challenge Gas-Fired Data Center Approval in Tucker County, WV -- Marcellus Drilling News - In April, MDN told you of a proposal by Fundamental Data for the “Ridgeline Facility,” a large natural gas power plant and data center that will be built between Davis and Thomas, WV (see 1,656 MW Gas-Fired Data Center Proposed in Tucker County, WV). At the time, we informed you that the power plant and data center would cover approximately 500 acres, with the gas-fired plant producing 1,656 megawatts (MW) of power. A story in May revealed that if the site is “fully realized,” it would be “among the largest data center campuses in the world,” spanning 10,000 acres (not 500) across Tucker and Grant counties (see Antis Target Gas-Fired Data Center Proposed for Tucker County, WV). The West Virginia Department of Environmental Protection (WV-DEP) approved the project plan, including the gas-fired power plant. Big Green filed an appeal on Sept. 12

MVP Urges Appeals Court to Revive Civil Lawsuit Against Protesters -- Marcellus Drilling News - We’re happy to see Mountain Valley Pipeline (now majority-owned by EQT) continues to vigorously pursue court action against so-called protesters who illegally blocked work during construction. These “protesters” (from out-of-state, possibly paid by Big Green groups to be there) thought they would skip out on taking responsibility for their actions. But MVP continues to hold their feet to the metaphorical legal fire, as well they should. MVP filed a civil lawsuit against four protesters for contributing to significant delays and costs. They must be held to account for their actions. On Tuesday, MVP asked an appeals court in West Virginia to reinstate its dismissed (on a technicality) civil case in county circuit court.

Cove Point LNG Offline for Annual Maintenance Until Mid-October -- Marcellus Drilling News - - Each fall in the September/October timeframe, Cove Point LNG shuts down for a few weeks (typically around three weeks) for annual maintenance. That time has arrived. According to a notice posted on the Berkshire Hathaway Energy Informational Postings website, reductions in flows to the Cove Point facility will happen between Monday, September 15, and Friday, October 10 (a whole month). Having said that, feedgas flows will not be zero during all of that period, but will be significantly reduced.

Eastern Natural Gas Markets Hit Speed Bump as Cove Point LNG Kicks Off Annual Work --- The Cove Point LNG terminal in Maryland started annual maintenance on Monday that is expected to slash about 0.7 Bcf/d of feed gas demand over the next three weeks, adding to planned pipeline outages expected to hit the region’s natural gas supply. Chart showing NGI’s Transco Zone 5 daily natural gas prices and Cove Point LNG flow volumes for 2024 and 2025. Prices are plotted in $/MMBtu, with 2024 prices trending near $2-4 and 2025 showing early-year volatility peaking near $30 before stabilizing below $5. Flow volumes, measured in MMcf/d, remain steady around 700-800 for 2024, while 2025 volumes rise late in the year after November. Data sourced from NGI’s Daily Gas Price Index, various EBBs, and Wood Mackenzie. At A Glance:
Cove Point outage trims 0.7 Bcf/d demand
Pipeline work offsets Transco Zone 5 impact
Analyst warns of ‘more chop’ in supply

Exploratory Wells Lift Haynesville Activity, but Louisiana Output Slips — The Offtake -A look at the global natural gas and LNG markets by the numbers

• 55 rigs: Production activity in the Haynesville Shale ramped up in August, hitting 55 by the end of the month, according to East Daley Analytics. However, the rise in rigs through the month does not necessarily portend more volumes or expectations of price recovery this year. Analysts with East Daley wrote in a recent note that the majority of rig growth came from East Texas, where firms are drilling exploratory wells. Meanwhile, production volumes in Louisiana dropped slightly during the same period. Lower 48 supply balances are expected to continue narrowing as LNG feed gas demand rises into 2026.
• $610M: Chevron Corp. and its partners in the Leviathan offshore gas field near Israel disclosed a deal to construct an estimated $610 million pipeline to export more gas to Egypt. The more than 40-mile system is planned to connect gas volumes from the prolific field to the Nitzana crossing on the Israeli-Egyptian border, boosting export output to 2.2 Bcf/d, according to Chevron. Completion is targeted for 2028.
• 5.4 Mt: Egyptian LNG imports continue to rise to record levels as the former gas exporting country grapples with rising power demand. By the end of September, Egypt is expected to have received almost 6 million tons (Mt) of LNG. More than 90% of Egypt’s import volumes in 2025 originated in the United States. Egyptian Natural Gas Co. is also expecting two additional cargoes at the beginning of October.
• $28,000/day: LNG vessel rates are bucking the seasonal norm before the start of the northern hemisphere's heating season and dropping to a four-month low. Analysts with ship brokerage Fearnleys AS wrote that a surplus of vessel capacity is pushing down the price of Atlantic and Pacific voyages during a period when gas buyers hoard vessels to hedge their winter bets.The average tonnage price for modern vessels to Europe dropped to $28,000/day. Asian rates followed closely at $35,000.

Former Driftwood LNG Plant Already 22% Built, On Track to Start 2029 -- Marcellus Drilling News - MDN chronicled the rise and fall of Tellurian, founded by Charif Souki (who also founded Cheniere Energy), and Tellurian’s LNG export project, Driftwood. Tellurian’s primary focus was to build Driftwood LNG, a 27.6 million tonnes per annum (MTPA) facility that would cost $14.5 billion. Construction began on the project in March 2022, even without a final investment decision (see Tellurian Begins Construction of Driftwood LNG with No FID). The company spent more than $1 billion building Driftwood before all the wheels came off financially. In July 2024, Australian LNG giant Woodside announced a deal to buy Tellurian (and Driftwood) for $1.2 billion, renaming it Louisiana LNG (see Australia’s Woodside Buying Tellurian & Driftwood LNG for $1.2B). Woodside pulled the trigger on an FID earlier this year.

Cooling Natural Gas Price Swings Challenge NFE’s LNG Business Model -New Fortress Energy Inc. (NFE) is evaluating several options, including additional asset sales, as cooling natural gas price volatility continues to cut into its LNG business earnings. Map of the Sur de Texas–Tuxpan natural gas pipeline system in northeastern Mexico, showing connections from the U.S. border near Brownsville/Matamoros to Tuxpan, Veracruz. The map highlights NGI Mexico Gas Price Index locations, LNG export and import facilities, gas processing plants, and proposed infrastructure. Key features include the 2.6 Bcf/d Sur de Texas–Tuxpan pipeline, Altamira LNG facilities, and interconnections with pipelines such as Reynosa–San Fernando, Ramal V. Reyes, and Tula–Villa de Reyes. The map also marks hubs in Monterrey, Reynosa, Tampico, and Tula. Source: NGI’s Map of Mexico’s Natural Gas Pipelines, Market Hubs & LNG Facilities. At A Glance:
NFE posts wider net loss
LNG sales dip year/year
Company explores potential asset sales

Natural Gas Weekly Update eia.gov -Market Highlights:(For the week ending Wednesday, September 17, 2025)

• Henry Hub spot price: The Henry Hub spot price rose 31 cents from $2.89 per million British thermal units (MMBtu) last Wednesday to $3.20/MMBtu yesterday.
• Henry Hub futures price: The price of the October 2025 NYMEX contract increased 7 cents from $3.029/MMBtu last Wednesday to $3.100/MMBtu yesterday. The price of the 12-month strip averaging October 2025 through September 2026 futures contracts climbed 6 cents to $3.754/MMBtu.
• Select regional spot prices: Natural gas spot prices rose at most locations this report week (Wednesday, September 10, to Wednesday, September 17). Price changes ranged from a $1.16 decrease at Waha to a 73-cent increase at SoCal Citygate, with warmer-than-average temperatures across much of the country.
  • At the Chicago Citygate, the price increased 30 cents from $2.74/MMBtu last Wednesday to $3.04/MMBtu yesterday. Temperatures in the Chicago Area averaged 72°F this report week, 5°F above normal, and 11°F more than last week, which resulted in 50 cooling degree days (CDDs), 44 more CDDs than last week. Natural gas consumption in the Midcontinent electric power sector increased by 25% (1.3 Bcf/d), according to data from S&P Global Commodity Insights, as a result of higher-than-average temperatures midweek that increased air-conditioning demand. The Clinton Power Station, a nuclear generator that serves the region, is currently experiencing a full outage, increasing reliance on natural gas-fired generation.
• International futures prices: International natural gas futures price changes were mixed this report week. According to Bloomberg Finance, L.P., weekly average front-month futures prices for liquefied natural gas (LNG) cargoes in East Asia increased 9 cents to a weekly average of $11.40/MMBtu. Natural gas futures for delivery at the Title Transfer Facility (TTF) in the Netherlands decreased 4 cents to a weekly average of $11.19/MMBtu. In the same week last year (week ending September 18, 2024), the prices were $13.40/MMBtu in East Asia and $11.44/MMBtu at TTF.
• Supply: According to data from S&P Global Commodity Insights, the average total supply of natural gas fell by 0.5% (0.5 Bcf/d) compared with the previous report week. Dry natural gas production decreased by 0.2% (0.2 Bcf/d) to average 107.0 Bcf/d, and average net imports from Canada decreased by 5.8% (0.3 Bcf/d) from last week.
• Demand: Total U.S. consumption of natural gas fell by 0.7% (0.5 Bcf/d) compared with the previous report week, according to data from S&P Global Commodity Insights. Natural gas consumed for power generation rose by 3.4% (1.3 Bcf/d) week over week. Consumption in the industrial sector decreased by 1.9% (0.4 Bcf/d) week over week, and consumption in the residential and commercial sector declined by 12.9% (1.3 Bcf/d). Natural gas exports to Mexico decreased 9.6% (0.7 Bcf/d). Natural gas deliveries to U.S. LNG export facilities (LNG pipeline receipts) averaged 16.2 Bcf/d, or 0.1 Bcf/d higher than last week.
• Pipeline receipts: Average natural gas deliveries to the U.S. LNG export terminals increased 0.1 Bcf/d from last week to 16.2 Bcf/d, according to data from S&P Global Commodity Insights. Natural gas deliveries to terminals in South Louisiana decreased 1.4% (0.2 Bcf/d) to 10.9 Bcf/d, while natural gas deliveries to terminals in South Texas increased 8.8% (0.3 Bcf/d) to 4.2 Bcf/d. Natural gas deliveries to terminals outside the Gulf Coast decreased 6.4% (0.1 Bcf/d) to 1.0 Bcf/d this week.
• Vessels departing U.S. ports: Twenty-four LNG vessels with a combined LNG-carrying capacity of 92 Bcf departed the United States between September 11 and September 17, according to shipping data provided by Bloomberg Finance, L.P.:
  • Seven tankers from Sabine Pass
  • Five from Plaquemines
  • Four from Corpus Christi
  • Three each from Cameron and Freeport
  • Two from Calcasieu Pass

US weekly LNG exports decrease to 24 cargoes - LNG Prime - US liquefied natural gas (LNG) plants shipped 24 cargoes during the week ending September 17, down from 34 cargoes during the week ending September 10. According to the Energy Information Administration, pipeline deliveries to the U.S. LNG export terminals increased 0.1 Bcf/d to 16.2 Bcf/d compared to the prior week.

EPA proposal puts US gas exporters in a bind - The oil and gas industry was caught off guard last week when EPA proposed giving it a nine-year reprieve from greenhouse gas reporting. And it wasn’t a welcome surprise, industry insiders and experts say. “I think we maintained some hope that they wouldn’t go this far because we had advocated to the EPA that they shouldn’t do that,” said one industry lobbyist granted anonymity to discuss the proposed rule freely. EPA’s proposal would relieve major emitters in most industrial sectors from the duty to report annual emissions above a certain threshold. The reporting program, which has existed since 2009, feeds into EPA’s comprehensive greenhouse gas inventory. The agency was widely expected to leave the oil and gas industry out of the proposal. Greenhouse gas reporting for oil and gas producers, processors and operators — which falls under the program’s “Subpart W” — is mandated under the 2022 climate law. The oil and gas industry has sought modifications to the Biden-era rules for that reporting, but no major trade associations have asked EPA to end it. The Trump EPA was expected to propose different —and likely more industry-friendly — reporting methodologies for oil and gas next summer. Instead, EPA unexpectedly proposed shelving annual emissions reporting for oil and gas until 2034. The agency is claiming that a provision in the Republican megalaw that suspended a related fee on methane emissions until 2034 also empowers the administration to mothball emissions reporting until the same year. That assertion is controversial and likely to be litigated if the rule is finalized in its current form. Oil and gas experts say that the loss of EPA’s reporting program could present problems — especially for companies hoping to sell their gas in the European Union. Starting in January 2027, E.U. gas importers will have to prove the supply they sell on the European market meets the bloc’s standards for monitoring, reporting and verification of methane leakage. Companies can show compliance with those standards at the corporate level, or exporting nations can secure an “equivalence determination” that covers all their producers. The E.U. has never agreed to deem that all U.S. producers meet that “equivalency” threshold, even during the Biden era when the sector was covered by methane regulations and a fee on excess methane leakage. The Biden administration tried to negotiate that, noted Fred Hutchison, president and CEO of LNG Allies, which promotes U.S. gas exports. “They didn’t say yes, didn’t say no — it was right around the time of the election, and I think they wanted to see where the leaves fell off the trees,” he said. But with the greenhouse gas reporting program, along with state regulations, industry practices and outside certification programs, “it was sort of judged that you could patch together a reasonable case on country level equivalency.” Now, those Biden-era methane controls are either gone or in the process of being rolled back. Meanwhile, the E.U. and authorities in its member states who will implement the new methane limits have been vague about their criteria for determining national “equivalence” or corporate compliance with the standards. Those policies may not be filled in until next year, and U.S. gas exporters — who supply about 45 percent of E.U.’s liquefied natural gas imports — are staring down possible restrictions beginning in 16 months’ time. EPA’s proposal to stop reporting and data collection for oil and gas emissions can only make that more likely, experts say, because companies expected to be able to use that emissions database to demonstrate compliance. “This completely shoots a hole in anyone who would be advocating for there to be equivalent before the Europeans,” said the oil and gas lobbyist. To prove compliance with the E.U. policy, a company’s emissions data must be verified by a qualified third party. The loss of EPA’s database would likely prompt industry to look for certification elsewhere, experts said, not only to access European and other global markets, but to attract climate-conscious purchasers within the United States.

Momentum for U.S. LNG as International Buyers Signal Cargoes Essential for Energy Security --The U.S. natural gas industry has a renewed sense of optimism, with federal officials signaling support for doubling LNG exports within five years, as buyers across Europe and Asia reinforce the role of U.S. cargoes in their energy security and portfolio diversification plans. Table of North American LNG projects showing existing and under-construction liquefaction capacity in the United States, Mexico, and Canada. The U.S. leads with more than 107.4 mtpa (14.3 Bcf/d) of existing capacity and 120.3 mtpa (16.0 Bcf/d) under construction across projects like Sabine Pass, Freeport, and Golden Pass. Mexico has the Altamira Fast LNG project operating (1.4 mtpa, 0.2 Bcf/d) and Costa Azul under construction. Canada lists LNG Canada Phase 1 (14 mtpa, 1.9 Bcf/d) as existing, with Cedar LNG and Woodfibre LNG projects underway. Data sourced from NGI, EIA, FERC, and company reports. At A Glance:
U.S. vowing faster LNG expansion
Europe pivoting from Russian gas
Asia securing more long-term U.S. cargoes

White House Puts U.S. Natural Gas, LNG at Center of ‘Energy Dominance’ Push -The White House’s National Energy Dominance Council (NEDC) is zeroing in on natural gas and LNG to drive U.S. economic growth and strengthen alliances abroad, according to executive director Jarrod Agen. At A Glance:

• Exports driving new overseas partnerships
• Pipeline delays stalling Northeast deliveries
• Alaska LNG gaining White House backing

FERC Chairman Says Natural Gas Projects Key to U.S. Competitiveness - Natural gas infrastructure will remain central to U.S. energy reliability and economic competitiveness at FERC, newly installed Chairman David Rosner said Thursday. Map of Northeast U.S. natural gas pipeline projects showing major proposed and operating expansions, including Borealis (2,000 MMcf/d), Mountain Valley Pipeline – MVP (2,000 MMcf/d), Atlantic Coast Pipeline – ACP (1,500 MMcf/d), PennEast (1,100 MMcf/d), Tennessee Gas Pipeline – NED (1,200 MMcf/d), Algonquin Gas Transmission – Access NE (1,000 MMcf/d), Transco REA (830 MMcf/d), Constitution (650 MMcf/d), National Fuel Gas – Northern Access (490 MMcf/d), and Transco NESE (400 MMcf/d). Map highlights routes across Pennsylvania, New York, New England, and surrounding states. At A Glance:
Chairman pledges fast, fair project reviews
Pipeline, LNG reviews remain Commission focus
Infrastructure seen boosting reshoring industries

U.S. ‘Building Confidence’ as World’s Most Reliable LNG Supplier, Says DOE Chief -U.S. Energy Secretary Chris Wright recently cast natural gas and LNG as the backbone of American energy security and global competitiveness, arguing the fuel will power a manufacturing revival at home and displace Russian supply abroad. North America LNG Export Flow Tracker chart and map from NGI showing U.S. liquefied natural gas (LNG) export volumes as of September 16, 2025. A bar chart highlights daily LNG exports from September 7–16, ranging between 15.2–16.5 million Dth, with September 16 at 15.87 million Dth. A U.S. daily summary notes total deliveries of 15.67 million Dth, down 119,630 Dth from the prior day. Facility-level data lists volumes and capacity utilization for major LNG terminals including Corpus Christi, Freeport, Golden Pass, Calcasieu Pass, Cameron, Plaquemines, Sabine Pass, Elba Island, and Cove Point. A map pinpoints LNG export facility locations across Texas, Louisiana, Georgia, Maryland, Canada, and Mexico. At A Glance:

• U.S. LNG exports set to double
• Europe, Asia driving stronger gas demand

US natgas futures gain 4% on warm forecasts, spot prices in Texas turn negative — U.S. natural gas futures climbed about 4% on Monday on lower output so far this month and forecasts that warmer than normal weather through the end of September would keep demand higher than usual for this time of year. Front-month gas futures for October delivery on the New York Mercantile Exchange rose 10.2 cents, or 3.5%, to settle at $3.043 per million British thermal units. In the spot market, gas prices at the Waha Hub in the Permian shale in West Texas turned negative as autumn pipeline maintenance and other constraints trapped gas in the nation's biggest oil-producing basin. In the tropics, the U.S. National Hurricane Center said a disturbance in the central Atlantic had a 90% chance of strengthening into a tropical cyclone over the next seven days as it moves northwest across the Atlantic Ocean. The system, however, is not expected to reach land in North America during that time. 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 earlier this year allowed energy companies to inject more gas into storage than usual so far this summer. There was about 6% more gas in storage than normal for this time of year, and analysts said they expect that percentage to mostly grow in coming weeks. Meteorologists forecast the weather will remain warmer than normal through at least September 30. That late season heat should boost the amount of gas power generators burn to keep air conditioners humming. LSEG projected average gas demand in the Lower 48 states, including exports, would rise from 102.5 bcfd this week to 103.1 bcfd next week. Those forecasts were in line with LSEG's outlook on Friday. The average amount of gas flowing to the eight big U.S. LNG export plants 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. In other LNG news, Berkshire Hathaway Energy's 0.8-bcfd Cove Point plant in Maryland is scheduled to shut soon for about a month of planned annual autumn maintenance.

Analyst Says Bearish EIA Report Reset Gas Market Momentum | Rigzone -- In an EBW Analytics Group report sent to Rigzone by the EBW team on Friday, Eli Rubin, an energy analyst at the company, said a “bearish” U.S. Energy Information Administration (EIA) report “reset… [gas] market momentum lower”. The EBW report highlighted that the October natural gas contract closed at $2.939 per million British thermal units (MMBtu) on Thursday. It pointed out that this was down 16.1 cents, or 5.2 percent, from Wednesday’s close. “Yesterday’s bearish EIA storage surprise refocused the natural gas market on rapidly rising storage levels - and risks of a storage overshoot,” Rubin said in the EBW report. “Intraday prices dropped to $2.925, down 24.3 cents (minus eight percent) off Tuesday’s high. The key near-term question is if technical support that tested as low as $2.869 on Sunday evening can hold,” he added. “Production readings remain subdued, although the conclusion to a portion of Permian maintenance may offer upside for supply - and downside risk for prices - next week,” Rubin continued. The EBW analyst went on to state in the report that, “amid renewed risks of the storage trajectory overshooting higher, October weather may be the decisive factor”. “If the trend of warming autumns holds, production rises, hurricane threats form, or LNG trips offline, a collapse in the front-month is possible into next week’s expiry,” he said in the report. “If signs emerge next week that strengthen DTN’s outlook for a colder October, however, averting bearish risks could offer fundamental uplift - creating volatility into next week’s October expiration,” he added. Rubin went on to warn in the report that “multiple possible bearish risks highlight the balance of price risks remains to the downside”. In its latest weekly natural gas storage report, which was released on September 18 and included data for the week ending September 12, the EIA said working gas in storage was 3,433 billion cubic feet as of Friday, according to its estimates. “This represents a net increase of 90 billion cubic feet from the previous week,” the EIA said in the report. “Stocks were four billion cubic feet less than last year at this time and 204 billion cubic feet above the five-year average of 3,229 billion cubic feet. At 3,433 billion cubic feet, total working gas is within the five-year historical range,” the EIA continued. In a report sent to Rigzone on September 18 by the EBW team, Rubin noted that the October natural gas contract rose to $3.168 per MMBtu on Wednesday morning “before returning the entirety of gains in the afternoon”. “Today’s EIA report, with consensus expectations for a 78-81 billion cubic foot build, may provide a catalyst to help prices break in either direction - but the market appears to be finding a short-term equilibrium between bullish and bearish risks,” Rubin said in that report. “On a bullish note, the downshift in production readings, higher LNG exports … and chances for a colder weather shift may create room for the October contract to push higher,” he added. “However, storage is 188 billion cubic feet above five-year norms with surpluses growing - and a history of weak October pricing when end of season inventories exceed 3,900 billion cubic feet,” Rubin went on to state in that report.

US natgas prices dip 2% to 3-week low on ample storage, milder forecasts — U.S. natural gas futures slid about 2% on Friday to a three-week low, on ample amounts of gas in storage and forecasts for milder weather and less demand next week than previously expected. Front-month gas futures for October delivery on the New York Mercantile Exchange fell 5.1 cents, or 1.7%, to settle at $2.888 per million British thermal units (mmBtu), their lowest close since August 27. That decline put the contract down about 2% for the week after it lost about 4% last week. In the tropics, the U.S. National Hurricane Center said Tropical Storm Gabrielle in the central Atlantic would strengthen into a hurricane on Sunday as it moves northwest toward Bermuda. The system, however, is expected to turn to the northeast before reaching Bermuda, and is not expected to reach the U.S. mainland. The NHC also said a tropical wave near the Cape Verde Islands, off the west coast of Africa, had a 20% chance of strengthening into a tropical cyclone over the next week as it moves west across the Atlantic Ocean. Even though storms can boost gas prices by cutting output along the U.S. Gulf Coast, they are more likely to reduce prices by shutting LNG export plants and knocking out power to homes and businesses. About 40% of the power generated in the U.S. comes from gas-fired plants. Financial firm LSEG said average gas output in the Lower 48 states fell to 107.4 billion cubic feet per day so far in September, down from a record monthly high of 108.3 bcfd in August. Meteorologists forecast the weather will remain warmer than normal through at least October 4. That late season heat, however, will not necessarily increase gas demand by much since it is more likely to reduce the usual increase in heating demand seen at this time of year rather than boost the amount of gas power generators burn to keep air conditioners humming. LSEG projected average gas demand in the Lower 48 states, including exports, would hold at 103.0 bcfd this week and next before sliding to 101.8 bcfd in two weeks. The forecast for next week was lower than LSEG's outlook on Thursday. The average amount of gas flowing to the eight big U.S. LNG export plants eased to 15.7 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. Gas was trading around $11 per mmBtu at both the Dutch Title Transfer Facility (TRNLTTFMc1) benchmark in Europe and the Japan Korea Marker (JKMc1) benchmark in Asia.

US Natgas Output, Demand to Hit Record Highs in 2025 Before Sliding in 2026, EIA Says (Reuters) – U.S. natural gas output and demand will both rise to record highs in 2025 before sliding in 2026, the U.S. Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. EIA projected that dry gas production will rise from 103.2 billion cubic feet per day in 2024 to 106.6 bcfd in 2025 before sliding to 106.0 bcfd in 2026. That compares with a record 103.6 bcfd in 2023. The agency also projected that domestic gas consumption would rise from a record 90.5 bcfd in 2024 to 91.5 bcfd in 2025 before easing to 91.4 bcfd in 2026. The September projections for 2025 were higher than EIA’s forecasts in August for 106.4 bcfd production and 91.4 bcfd demand. The EIA said it expects rising gas prices and falling oil prices in 2026, which should bring crude oil to its lowest premium to gas since 2005. As a result, the agency said it expects drilling activity in the U.S. in 2026 to be more centered in gas-intensive producing regions. The agency forecast average U.S. liquefied natural gas (LNG) exports would rise to 14.7 bcfd in 2025 and 16.3 bcfd in 2026 from a record 11.9 bcfd in 2024. With power generators expected to burn more coal this year than in 2024, the EIA projected U.S. coal production would rise from 512.1 million short tons in 2024, the lowest since 1964, to 521.9 million tons in 2025 before falling to 492.5 million tons in 2026, the lowest since 1963. EIA projected carbon dioxide (CO2) emissions from fossil fuels would rise from a four-year low of 4.777 billion metric tons in 2024 to 4.849 billion metric tons in 2025 as oil, coal and gas use increases, before easing to 4.826 billion metric tons in 2026 as oil and coal use declines.

USA EIA Cuts Henry Hub Gas Price Forecast for 2025, 2026 | Rigzone -The U.S. Energy Information Administration (EIA) reduced its Henry Hub natural gas spot price forecast for 2025 and 2026 in its latest short term energy outlook (STEO), which was released on July 8. According to that STEO, the EIA sees the Henry Hub natural gas spot price averaging $3.67 per million British thermal units (MMBtu) in 2025 and $4.41 per MMBtu in 2026. The EIA’s previous STEO, which was released in June, projected that the Henry Hub natural gas spot price would average $4.02 per MMBtu this year and $4.88 per MMBtu next year. Both STEOs highlighted that the Henry Hub natural gas spot price came in at $2.19 per MMBtu in 2024. In its latest STEO, the EIA projected that the Henry Hub natural gas spot price will average $3.37 per MMBtu in the third quarter of this year, $3.99 per MMBtu in the fourth quarter, $4.46 per MMBtu in the first quarter of 2026, $3.76 per MMBtu in the second quarter, $4.35 per MMBtu in the third quarter, and $5.06 per MMBtu in the fourth quarter of next year. The EIA’s previous STEO saw the Henry Hub natural gas spot price coming in at $4.01 per MMBtu in the third quarter, $4.67 per MMBtu in the fourth quarter, $5.35 per MMBtu in the first quarter of 2026, $4.39 per MMBtu in the second quarter, $4.87 per MMBtu in the third quarter, and 4.92 per MMBtu in the fourth quarter of next year. “Compared with our June forecast, we expect more natural gas in storage in the coming months because of slightly more natural gas production and less power sector demand,” the EIA said in its latest STEO. “As a result, we reduced our forecast for natural gas prices,” the EIA added. In its STEO, the EIA noted that its forecast for more natural gas in storage and lower prices comes after seven consecutive weeks of net injections greater than 100 billion cubic feet contributed to a recovery in storage volumes. “We estimate that U.S. natural gas inventories were seven percent above the five-year average (2020–2024) at the end of June after ending the withdrawal season (November–March) four percent below the five-year average, the lowest in three years,” the EIA said in its July STEO. “Injections have exceeded the five-year average as U.S. natural gas production has increased in the 2Q25 compared with 1Q25. We expect inventories will end the injection season on October 31 with 3,910 billion cubic feet of natural gas in storage, five percent more than we forecast in last month’s STEO and three percent more than the five-year average,” it added. The EIA pointed out in the STEO that the Henry Hub spot price averaged just over $3.00 per MMBtu in June and highlighted that it expects the commodity will average “almost $3.40 per MMBtu in 3Q25, 16 percent less than last month’s forecast”. “LNG demand and natural gas production will be two key drivers of price in the coming months,” the EIA added. “If LNG demand is more or production is less than our forecast, inventories may end the injection season below our forecast and natural gas prices may be higher than forecast,” it continued. “At the same time, with above-normal hurricane activity expected this summer, LNG exports may be disrupted if storms hit along the Gulf Coast, which could result in more U.S. inventories and lower natural gas prices than expected,” it went on to state. The EIA noted in its July STEO that marketed natural gas production averaged 116.8 billion cubic feet per day (Bcfpd) in 2Q25, which it pointed out was a 4.7 Bcfpd increase compared with the same period in 2024. “We expect production to remain near this level through 2026, averaging around 116 Bcfpd in both 2025 and 2026,” the EIA said in its STEO. “Higher natural gas prices throughout 2025 compared with last year have supported this sustained production. The U.S. benchmark Henry Hub spot price averaged $3.67 per MMBtu in 1H25, compared with $2.11 per MMBtu in 1H24,” it added. “Although production in our forecast remains relatively flat going forward, we forecast U.S. marketed natural gas production will increase almost three percent this year compared with 2024, largely because of rising production in the first half of the year,” it continued. “This increase is driven mainly by the Permian region, which we expect to produce 27.0 Bcfpd in 2025, or six percent more than in 2024, along with increases in the Appalachia and Haynesville regions,” the EIA went on to state. “We forecast U.S. marketed natural gas production will remain flat in 2026 as production growth from the Permian and Appalachia regions will offset the overall decline in production from the rest of the United States,” the EIA noted. A research note sent to Rigzone by the JPM Commodities Research team on July 14 showed that J.P. Morgan expected the Henry Hub U.S. natural gas price to average $3.75 per MMBtu in 2025 and $3.31 per MMBtu in 2026. That note revealed that J.P. Morgan saw the commodity coming in at $4.00 per MMBtu in the third quarter of 2025, $3.75 per MMBtu in the fourth quarter, $3.50 per MMBtu in the first quarter of 2026, $3.00 per MMBtu in the second quarter, $3.25 per MMBtu in the third quarter, and $3.50 per MMBtu in the fourth quarter. A report sent to Rigzone by the Standard Chartered Bank team on July 8 showed that Standard Chartered expected the NYMEX Basis Henry Hub U.S. natural gas nearby future price to average $3.35 per MMBtu this year and $3.30 per MMBtu next year. In that report, Standard Chartered projected that the commodity would average $3.20 per MMBtu in the last quarter of 2025 and first quarter of 2026, $3.70 per MMBtu in the second quarter of next year, $3.50 per MMBtu in the third quarter, and $2.80 per MMBtu in the fourth quarter.

EPA Approves Air Permit for Offshore Deepwater Port to Boost American Oil Exports -- A Clean Air Act air permit has been issued for the proposed Texas GulfLink (TGL) offshore deepwater port, clearing the way for first-of-its-kind vapor capture and control technology to be used at sea during crude oil loading operations. Planned about 30 miles southeast of Freeport, Texas, the port will be capable of loading Very Large Crude Carriers (VLCCs) at a rate of up to 85,000 barrels per hour—equal to roughly 365 million barrels per year. The permit sets requirements for monitoring, recordkeeping, and compliance reporting, and is valid for five years before renewal is needed. It combines both construction and operating conditions under the Clean Air Act. Supporters say the project demonstrates how proven vapor-control technology can be applied offshore to reduce emissions while enabling significant growth in U.S. oil exports. The approval follows a public comment period earlier this year. Under the Deepwater Port Act, the project also requires a separate license from the U.S. Maritime Administration before operations can begin.

US crude inventories fall sharply as net imports hit record low, EIA says (Reuters) - U.S. crude oil stockpiles fell sharply last week as net imports dropped to a record low amid a jump in exports to a near two-year high, the Energy Information Administration said on Wednesday.Gasoline inventories also declined unexpectedly in the week ended September 12, while distillate stockpiles rose more than expected, the EIA said. Crude stocks fell by 9.3 million barrels last week to 415.4 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 857,000-barrel draw. U.S. crude exports rose by 2.53 million barrels per day (bpd), to 5.28 million bpd, the highest level since December 2023. Net U.S. crude imports fell by 3.11 million bpd, hitting their lowest level on record going back to 2021.Crude stocks at the Cushing, Oklahoma, delivery hub fell by 296,000 barrels in the week, the EIA said.Some analysts suggested that the large crude export figure could be an anomaly."We've got tremendous variability in the export data for crude oil. Last week it was super low, this week it was super high," said John Kilduff, a partner with Again Capital.Crude oil futures rose following the larger-than-expected drawdown but then pared some of those gains and were still in negative territory. Global benchmark Brent crude futures were trading at $68.29 a barrel, down 18 cents at 10:53 a.m. EDT (1453 GMT), while U.S. crude futures were 22 cents lower at $64.30 a barrel.A jump in distillate stockpiles, which stoked concerns about demand, kept a lid on prices, analysts also said."Looks like markets are responding on diesel, which is the soft underbelly of the entire complex," said Phil Flynn, a senior analyst with Price Futures Group. Distillate stockpiles, which include diesel and heating oil, rose by 4 million barrels in the week to 124.7 million barrels, versus expectations for a 1 million-barrel rise, the EIA data showed.Gasoline stocks fell by 2.3 million barrels in the week to 217.6 million barrels, the EIA said, compared with forecasts for a 100,000-barrel build. Total product supplied, a proxy for demand was 20.64 million bpd, up from 19.78 million bpd the week prior.Refinery crude runs fell by 394,000 bpd in the week, while utilization rates fell by 1.6 percentage points to 93.3%

Continental Lands 2-Mile Lateral in Deeper Williston Basin -Horizontal exploration of the storied Williston Basin is pushing drilling into deeper zones below the Bakken and Three Forks, according to a Hart Energy analysis.

Nation’s latest oil spill is in North Dakota - Oklahoma Energy Today - North Dakota environmental officials are dealing with the aftermath of an oil spill involving an estimated 20,000 barrels of crude oil and produced water. The State’s Department of Environmental Quality reported the spill came from a pipeline leak in the northwest part of North Dakota. The oil and water spilled onto farm land near the town of Stanley located in Mountrail County. The pipeline is owned by Hess Corp. and investigators are unsure just how long the leak occurred before it was discovered. A spokesman for the Environmental Quality Department indicated Hess became suspicious on September 2 when it “started getting an indication their numbers weren’t right.”

Hess Corp pipeline spill leaks 840,000 gallons of emulsion – The North Dakota Department of Environmental Quality was notified that on September 13, 2025, there was an emulsion spill as part of a Hess Corporation pipeline. The incident occurred about 4 miles northwest of Stanley, and the NDDEQ is still inspecting the spill. The Hess Corporation first noticed the spill when it observed a discrepancy in its data. Hess reports an estimated 20,000 barrels or 840,000 gallons of emulsion were released. The substance surfaced and flowed over an agricultural field. The NDDEQ does not report any impact on water sources as of this time. Emulsion is a mixture of crude oil and produced water flowing from the well head.

Diesel, oil spilled in ​Sinclair Inlet after boat sinks in Bremerton ​ The Dominion, a 128-foot wooden U.S. Army tugboat, sank at the Bremerton Marina Sept. 17, resulting in 2,000 gallons of diesel and 200 gallons of motor oil being spilled into Sinclair Inlet, per the state Department of Ecology. The Port of Bremerton, the U.S Coast Guard and DOE are working together to contain the spill, per a DOE statement. Marina staff have set booms and buoys around the vessel to contain as much debris as possible. “We ask that people please stay out of the immediate vicinity of the tug sinking as our responders work to clean up this spill,” a DOE statement says. DOE said in order to prevent oil and diesel from being spread throughout Puget Sound, they are encouraging boaters to stop operations at the Bremerton Marina, as vessels will need to undergo decontamination efforts. Any type of propulsion can spread oil, diesel and cause harm to aquatic and marine mammal life. No Washington State Ferry operations in Bremerton are currently impacted as of Sept. 18, WSF spokesperson Dana Warr said. This incident follows the sinking of the derelict vessel Cairdeas Sept. 7 in Sinclair Inlet, per the National Oceanic and Atmospheric Administration.

Ksi Lisims LNG Edges Toward FID, Reshaping Canada’s Natural Gas Export Outlook - Federal and provincial officials have approved another LNG export terminal for Canada’s western coast, expanding the country’s potential to become a key supplier of natural gas to Asia.Map of Western Canada natural gas pipelines and LNG facilities showing operational, under-construction, and proposed export projects. Key features include Montney and Duvernay shale plays in Alberta and British Columbia, NGI price index locations, major import and export points, and LNG export terminals along the Pacific coast such as Kitimat, Tilbury, and Woodfibre. The map highlights connections to Westcoast Station 2, Northwest Sumas, Kingsgate, NOVA/AECO C, and Alliance pipelines, illustrating Canada’s natural gas infrastructure and LNG development pathways. At A Glance:
Partnership eyes 2025 construction start
Canada strengthens role in global gas
Export growth could tighten Western Canada supply

New Fortress Mexico LNG To Supply Puerto Rico with Natural Gas for Seven Years --New Fortress Energy Inc. (NFE) has reached an agreement with the government of Puerto Rico to supply the island’s power system with natural gas for a period of seven years.Map of the Sur de Texas–Tuxpan natural gas pipeline system in Mexico, showing operational and proposed routes, LNG export and import facilities, gas price index locations, gas processing plants, and underground storage projects. Key sites include the Altamira LNG terminal, Tuxpan–Tula pipeline, Southeast Gateway pipeline under construction, and major interconnections at Reynosa, San Fernando, and Poza Rica. The map highlights NGI’s Mexico Gas Price Index hubs and infrastructure linking U.S. cross-border pipelines to Mexico’s Gulf Coast and central regions. At A Glance:
NFE snags seven-year LNG deal
Altamira fast LNG plant to send cargoes
Henry Hub pricing anchors long-term supply deal

U.S. Jets Deployed to Guyana as Oil Boom Raises Caribbean Stakes -The U.S. has deployed fighter jets to Guyana, drawing its military footprint into the world’s fastest-growing offshore oil province as tensions with neighboring Venezuela escalate, as Washington adjusts its regional posture to accommodate the changing balance of power in the south Caribbean due to newfound oil wealth. The move comes as ExxonMobil and partners Hess and CNOOC continue expanding production from Guyana’s Stabroek block, which already exceeds 650,000 barrels per day and is forecast to reach 1.3 million bpd by 2027. That trajectory has made the country the hottest new oil frontier, with output rivaling OPEC members despite Guyana’s population of under 1 million. Any instability in its offshore zone has immediate global implications, with light sweet crude from Stabroek commanding strong premiums in Atlantic Basin markets. Venezuela has revived claims over the Essequibo region, which comprises two-thirds of Guyana’s territory and lies adjacent to offshore oil fields. Caracas has staged military exercises near the border and raised threats to halt oil projects it views as contested. In his latest response, Venezuelan President Nicolás Maduro warned that any U.S. aggression would trigger “a stage of armed struggle,” casting Washington’s deployments as a direct challenge to Venezuelan sovereignty. The deployment also comes just days after President Irfaan Ali secured a second term in Guyana’s elections, reinforcing a mandate built on expanding the benefits of oil production for the population. His administration has tied new spending on infrastructure and social programs to petroleum revenues, with voters backing continuity in energy policy. Reuters separately reported that the Pentagon has been repositioning assets in the Caribbean, including F-35s in Puerto Rico, as part of a broader counter-narcotics mission. While officials frame deployments in that context, analysts note that the geography of operations directly overlaps with Guyana’s offshore sector, where more than 30 discoveries have been made since 2015.

EU proposes to accelerate Russian gas ban amid new sanctions package - The European Union unveiled its most comprehensive sanctions package yet against Russia on Friday, proposing to accelerate a ban on Russian gas imports by one year while targeting financial networks and third-country enablers across China and India. The 19th round of EU sanctions since Moscow's 2022 invasion of Ukraine would phase out liquefied natural gas purchases from Russia by January 2027, moving the deadline forward from the previously planned end of 2027. The proposal requires unanimous approval from all 27 EU member states. European Commission President Ursula von der Leyen announced the measures as part of a broader strategy to starve Russia's war economy of crucial energy revenues. "Russia's war economy is sustained by revenues from fossil fuels. We want to cut these revenues," she said. "It is time to turn off the tap." The timing reflects mounting pressure from the Trump administration for European allies to sever remaining energy ties with Moscow. President Donald Trump indicated last week he would consider tougher action against Russia if allies stopped purchasing Russian oil and imposed tariffs on China. The sanctions package marks a significant expansion beyond Russia itself, targeting firms, banks and traders in China, India and other countries accused of helping Moscow circumvent existing restrictions. The measures would impose export bans and tighter controls on entities across these nations. "We target refineries, oil traders, petrochemical companies in third countries, including China," von der Leyen said, describing efforts to close loopholes that have allowed Russia to maintain energy export revenues. The package also aims to disrupt Russia's financial infrastructure by targeting cryptocurrency platforms and the MIR credit card system, which Moscow established to reduce dependence on Western payment networks. Ukrainian President Volodymyr Zelensky praised the package as "robust" and called it "an important step that will intensify pressure on Russia's war machine and have a tangible impact." Writing on social media, he urged swift adoption and called on other partners to "mirror and expand these steps." Despite 18 previous sanctions packages, Russia remains a significant energy supplier to Europe. Russian gas accounted for 19 percent of EU imports in 2024, down from 45 percent before the invasion but still representing substantial revenue for Moscow's war effort. The continued dependency stems partly from increased purchases of seaborne LNG, which have partially offset sharp declines in pipeline imports. Data shows 32 billion cubic meters of gas entered Europe via the TurkStream pipeline last year, with an additional 20 billion cubic meters arriving through LNG shipments. The EU has already dramatically reduced Russian oil imports, cutting the share from 29 percent in early 2021 to just 2 percent by mid-2025. Only Hungary and Slovakia, both considered Moscow-friendly, continue purchasing Russian oil under existing exemptions. EU foreign policy chief Kaja Kallas emphasized the strategic importance of the accelerated timeline. "Moscow thinks it can keep its war going. We are making sure it pays the price for it," she wrote on social media.

Chevron, Israel Natural Gas Lines To Begin Construction of Gas Pipeline to Egypt - Chevron has signed a deal with state-owned pipeline operator Israel Natural Gas Lines to kickstart construction of the Nitzana natural gas pipeline to transport gas from the Leviathan gasfield to Egypt, the U.S. company said on Tuesday. Nitzana would ease an energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas and is part of a concerted effort to boost Israeli gas exports to the Arab world's most populous nation. Last month, the owners of the Leviathan natural gas field off Israel signed a $35 billion export deal to supply gas to Egypt. Leviathan, owned by NewMed, Chevron and Ratio Energies, holds gas reserves of some 600 billion cubic metres. The Nitzana pipeline route will transport around 600 million cubic feet of natural gas per day, once construction finishes in about three years, Chevron said, adding this would bring Israel's total export capacity to Egypt to more than 2.2 billion cubic feet per day. Gas producer Energean has said it plans to send up to 2 billion cubic metres of gas a year on Nitzana from its Katlan field offshore Israel, due to start production in 2027. The plan was announced on the same day a United Nations Commission of Inquiry concluded that Israel had committed genocide in Gaza. Israel called the assessment "scandalous" and "fake."

Libya and Nigeria to Revive Natural Gas Pipeline Project to Europe -Officials from Libya and Nigeria are working to revive a long-dormant natural gas pipeline project that would transport Nigerian gas to Europe via Libyan territory.The initiative, seen as a strategic boost for both nations, was the focus of a recent high-level meeting in Tripoli between Libya’s Minister of Oil in the Government of National Unity, Khalifa Abdul Sadiq, Nigeria’s Minister of State for Petroleum Resources, Ekperikpe Ekpo, and the CEO of the Nigerian National Petroleum Corporation (NNPC), Bayo Ojulari. According to a news report published on Saturday, September 13, by Libya Update, the meeting centered on reactivating the proposed pipeline, which has been under consideration for years but has seen little progress.A key outcome of the discussion was an agreement to facilitate the exchange of technical information between energy experts from both countries. This collaboration is crucial to conducting the detailed studies needed to make the project viable. Following these studies, the two nations plan to sign a memorandum of understanding to formally define the project's operational and legal framework.The proposed pipeline is being hailed as a new "strategic artery" that would not only connect Africa to Europe but also significantly enhance Libya's role as a major energy corridor. For Nigeria, the project offers broader opportunities to expand its gas exports to international markets. The revival of the project comes as Europe seeks to diversify its energy sources, making the potential for a new gas supply route from Africa particularly timely.Discussions between Nigeria and Libya about the strategic gas pipeline have been going on for some time despite little progress. In September 2024, officials from the two countries held a joint meeting on the sidelines of the 2024 Gastech Exhibition and Conference in Houston to explore the possibility of building a major gas pipeline through Libya.

TotalEnergies awards Iraq gas plant construction deal to Chinese contractor | Upstream - Facility is key to implementing TotalEnergies’ $13 billion Gas Growth Integrated Project, aimed at capturing flared gas, boosting power generation and reducing emissions in southern Iraq.​  French energy major TotalEnergies has awarded a key contract to China Petroleum Engineering and Construction Corporation (CPECC) to build a gas processing plant at the Atawi, also known as Ratawi, field in southern Iraq.​ The deal marks a significant step in the operator's multi-energy Gas Growth Integrated Project (GGIP), which is designed to capture flared gas and boost Iraq’s power generation capacity.​  The plant, occupying 800,000 square metres, will be located 60 kilometres west of Basra.

Colombia’s Oil Output Keeps Falling as U.S. Relations Sour -- Colombia’s oil and gas reserves could be revised up this year compared to 2024, but oil output continues to drop amid a hostile climate to oil and gas, social and security issues, and international majors bailing on Colombia.Colombia’s oil production could suffer another major blow as the investment climate will further sour after the United States this week stripped Colombia of its so-called U.S. Drug Certification. This means that the Trump Administration no longer believes Colombia is fully cooperating with the U.S. counter-narcotics efforts.The U.S.-Colombia ties have soured since U.S. President Donald Trump took office, and these continuously deteriorating relations hit a new low with the decertification of Colombia for its failure to fully cooperate with the U.S. in the fight against illicit drug manufacturing and trafficking.The U.S. placed the blame squarely on Colombia’s leftist President Gustavo Petro for failing to control narcotics groups and reduce coca cultivation and cocaine production.“In Colombia, coca cultivation and cocaine production have surged to all-time records under President Gustavo Petro, and his failed attempts to seek accommodations with narco-terrorist groups only exacerbated the crisis,” President Trump said in the Presidential Determination submitted to Congress on Monday.“Under President Petro’s leadership, coca cultivation and cocaine production have reached record highs while Colombia’s government failed to meet even its own vastly reduced coca eradication goals, undermining years of mutually beneficial cooperation between our two countries against narco-terrorists.”“The failure of Colombia to meet its drug control obligations over the past year rests solely with its political leadership,” President Trump said.Yet, he praised Colombia’s security institutions and municipal authorities who “continue to show skill and courage in confronting terrorist and criminal groups, and the United States values the service and sacrifice of their dedicated public servants across all levels of government.” In response to losing the drug certification, Colombia’s Interior Minister Armando Benedetti told a local radio program that “from this moment on...weapons will not be purchased from the United States.”The new low in the U.S.-Colombia relations adds further headwinds to the already falling Colombian oil production, although the President determined that U.S. assistance to Bolivia, Burma, Colombia, and Venezuela “is vital to the national interests of the United States.” Colombia’s President Petro has been erecting barriers to oil and gas development since taking office in 2022—and this shows in production numbers and the number of international majors quitting exploration in the South American country. Colombia’s hydrocarbons agency expects proven oil reserves, those that can be profitably extracted at current oil prices, were 2.04 billion barrels as of last year. These could even be estimated higher this year as new technology and techniques allow for pumping more crude from existing fields, the agency’s head, Orlando Velandia, told Reuters this week. Oil production, however, has declined by 6%, due to social conflicts and security issues, Velandia said. Guerrilla groups have intensified attacks on pipelines to undermine the government’s authority, according to the agency.Colombia’s oil production fell by 4.8% to 746,249 barrels per day (bpd) in July from a year earlier, according to data from the hydrocarbons agency. Marketed natural gas production slumped by 16.3% compared to last year and by 6.4% from June. Major international oil and gas companies have scaled back or quit operations in Colombia’s offshore exploration and production areas. Colombia stopped awarding new oil exploration contracts while hiking taxes for the economically crucial hydrocarbon sector in November 2022.As if domestic policies aren’t enough, deteriorated relations with the United States could signal further setbacks for Colombia’s oil and gas industry.

Oil is leaking from Chuuk Lagoon's Rio de Janeiro Maru shipwreck - Governor Alexander R Narruhn of the State of Chuuk has declared a State of Emergency after oil was seen leaking out of the wreck of Rio de Janeiro Maru in Chuuk Lagoon. The oil spill, which has since formed a sizeable slick, was first spotted by divers on the liveaboard Odyssey on 11 September, while moored off the island of Uman. In the last week, the oil slick has spread with the islands of Panitiw, Nukanap and Sopota affected. Photographs posted on the Office of the Governor of Chuuk’s Facebook page show the oil has reached shore. Chuuk (also called Truk) Lagoon was the Imperial Japanese Navy’s main Pacific base during the Second World War. At least 40 ships, and hundreds of aircraft, were sunk there in 1944 during Operation Hailstone, part of the US Navy’s campaign to clear the South Pacific of Axis Forces. As a result, Chuuk is popular with scuba divers as one of the best places in the world for wreck diving, but the ships have deteriorated significantly over the last 81 years. There are believed to be a total of 63 vessels in the lagoon, some of which are at risk of leaking oil into the water, a ticking environmental time bomb for the island nation. picture showing a diver swimming over the hull of a sunken ship with oil leaking from it A diver swims past the leaking oil (Photo: Chuuk State Governor’s Office) Governor Narruhn has called on both Japan and the US to help clear the oil, which he says is threatening the future food security of the island nation. ‘It’s been about 80 years since these ships sank in Chuuk Lagoon after Second World War battles between the United States and Japan,’ said a government spokesperson. ‘Oil spills from these wrecked ships is threatening our food security in the future. There is a company from Japan called JMAS which does oil extraction but this help is not enough. ‘We are also asking the United States government to help, and they have acknowledged our request.’ picture showing an oil slick in shallow water in Micronesia The slick has already reached the shoreline (Photo: Chuuk State Governor’s Office) The Office of the Governor is coordinating an emergency response to the spill, warning local islanders and fishers to be wary of toxic fumes, contaminated water, fish and produce in the meantime. Rio de Janeiro Maru was a Japanese packet ship, built in 1929 and originally used to carry Japanese immigrants to Brazil. She was requisitioned by the Japanese Imperial Navy in October 1940 and converted into an armed transport vessel, then later refitted as a submarine tender. She was sunk by a 1000lb bomb on 17 February 1944, the first day of Operation Hailstone, just six days after arriving in Chuuk Lagoon. The wreck lies on its starboard side with a maximum depth of 34 metres and, at 140 metres (460ft) in length, is one of the largest ships sunk in Chuuk and one of the most popular with divers.

Russia's Oil and Gas Revenues Face Significant September Decline -Russia’s revenues from oil and gas are expected to plunge in September by 23% from a year earlier, as international crude prices have declined and the Russian currency has strengthened, calculations by Reutersshowed on Thursday. The decline is not good news for Russia, which is currently planning its 2026 budget and continues to spend heavily on the war in Ukraine. Russia’s oil and gas sales are expected to bring the Kremlin $7.11 billion (592 billion rubles) this month, per the Reuters estimates based on production, refining, and supply data. Due to lower government subsidies to refiners paid in September, the revenues would be 17% higher than in August. Yet, the revenues for January to September are estimated by Reuters to drop by 20.5% year-on-year, to $79.6 billion (6.62 trillion rubles). The stronger ruble and the drop in international oil prices and as a result, Russia’s discounted prices, have dragged the Kremlin’s revenues to two-year lows. Russia’s crude and fuel export revenue slumped by $920 million in August compared to July, the International Energy Agency (IEA) estimates in its latest monthly report. The discounts of Russian crude grades widened last month amid the U.S. pressure on India for buying oil from Russia, while Russian refinery production slumped as Ukraine hit several processing facilities with drones. As a result, Russia’s crude and petroleum product export revenues plunged by $920 million from July to $13.51 billion in August, the IEA’s estimates showed. Meanwhile, Russia’s petroleum product shipments rose by 8.9% in August compared to July as some refineries returned from maintenance, according to estimates byReuters based on data from industry sources. Oil product exports from the Baltic Sea ports and from the Black Sea and Azov Sea ports increased in August from July, while shipments from the Arctic ports slumped last month.

ONGC in hunt for high-spec deepwater drillship as it lines up exploration drive -- ​Tender launched for a drillship capable of operating in water depths up to 3000 meters.​ India’s Oil & Natural Gas Corporation (ONGC) has launched a new offshore rig tender to charter a high-spec, deepwater drillship for operations off the country’s east and west coasts.The state-owned company aims to hire a dynamically positioned drillship on a 36-month charter, with an option to further extend the contract by up to 12 months, multiple people familiar with the bid process told Upstream.​ ONGC is pushing ahead with aggressive exploration plans that aim to significantly boost domestic oil production and scale up its areas under exploration to around 500,000 square kilometres in the long term.

India Continues to Buy Russian Crude as Tensions With the U.S. Ease -- India will continue to buy Russian crude in the coming months, with active purchases for cargoes loading in November and December, sources familiar with the plans of Indian refiners told Bloomberg.The tensions of the past weeks between the U.S. and India over the latter’s continued purchases of Russian crude oil appeared to ease this week after U.S. President Donald Trump held a phone call with India’s Prime Minister Narendra Modi to wish him a happy birthday and thank him for efforts to end the war in Ukraine.“Just had a wonderful phone call with my friend, Prime Minister Narendra Modi. I wished him a very Happy Birthday! He is doing a tremendous job,” President Trump wrote on social media. After some hesitation and pullback from state refiners in early August amid the U.S. threats of doubled tariffs, Indian refiners – including the state-owned ones – are back to buying Russian crude, although they are hedging their bets with procurement of more volumes from the U.S., Brazil, and West Africa. Despite the doubled U.S. tariff on imports of Indian goods, Indian refiners are set to raise their imports by between 150,000 barrels per day (bpd) and 300,000 bpd in September, or up by 10-20% compared to August volumes, according to traders and analysts.The discount of Russia’s flagship Urals crude blend for Indian buyers has widened to between $3 and $4 per barrel amid continued pressure from the United States on India to force it to stop buying Russian crude. India continues to buy Russian crude, also incentivized by the wider discounts compared to the minimal discounts in June and July.India will keep buying crude from Russia as it looks to cater to its interests, Indian Finance Minister Nirmala Sitharaman said early this month as India dismissed U.S. criticism that it is profiteering from importing Russian crude.

Major oil spill detected in waters in southern Russia {news.az}​ An oil spill covering roughly 35,000 square meters has been reported in southern Russia’s Astrakhan region, the local environmental watchdog said on Thursday.The pollution occurred in the Krivaya Bolda River, located in the Volga River Delta, according to a regional department of the Federal Service for Supervision of Natural Resources (Rosprirodnadzor), News.Az reports, citing Xinhua.The department confirmed a petroleum spill had polluted 35,258 square meters of water, following reports received earlier in September and a subsequent inspection.Rosprirodnadzor is working to identify those responsible for the pollution and calculating the environmental damage, the watchdog said, adding that the situation remains under control.

Oman's Oil Exports Exceed 178 Million Barrels--- The Sultanate of Oman's oil exports reached 178,746,000 barrels by the end of July 2025, a slight decrease of 0.2% compared to the same period in 2024, when exports stood at 179,036,800 barrels. Preliminary statistics from the National Center for Statistics and Information (NCSI) show that the average price per barrel fell by 12.1% to $72.5 by the end of July 2025, down from $82.5 during the same period last year. The statistics also revealed that the average daily oil production decreased by 0.4%, reaching 991,100 barrels per day by the end of July 2025, compared to 994,800 barrels per day during the same period in 2024. Oman's total oil production dropped by 0.8% to 210.12 million barrels, compared to 211.9 million barrels in the corresponding period of 2024.

OPEC oil producers: Iraq Number 2 with +4M bpd - Iraq ranked as OPEC’s second-largest producer in August 2025 with 4.015 million bpd, the organization announced on Tuesday. According to OPEC, Saudi Arabia retained its position as the top producer with 9.709 million bpd, while the UAE came third with 3.255 million bpd, followed by Iran at 3.218 million and Kuwait at 2.492 million. Nigeria recorded 1.549 million barrels per day, Libya 1.299 million, Algeria 940,000, Venezuela 936,000, and Congo 259,000. OPEC’s report noted that overall production levels remained relatively stable, though disparities persisted among member states due to differing capacities and policies. Meanwhile, the International Energy Agency (IEA) warned of a sharp and accelerating decline in oil and gas production from mature fields worldwide, with investment limited mainly to maintaining existing operations. Without steady investment, the world could lose the equivalent of Brazil and Norway’s combined output—about 5.5 million bpd—each year, amounting to an average annual decline of 8 percent over the next decade. For natural gas, the report projected a 9 percent yearly decline without adequate investment, equivalent to 270 billion cubic meters, roughly equal to Africa’s current total output.

Iraq to boost oil exports via proposed pipeline to Oman -The Iraqi government signed new energy agreements this week to increase oil production, develop alternative export routes, and address environmental challenges. Partnerships with Oman and international firms represent a significant advancement as Iraq works to safeguard its economy during heightened Gulf tensions.Nearly all of Iraq’s oil exports pass through the Gulf, where geopolitical instability threatens key shipping routes. The planned export increase comes amid global market uncertainty and regional tensions. As OPEC's second-largest producer, Iraq seeks to expand output to meet global demand and rising domestic spending, given oil’s central role in its economy.The new agreements are designed to reduce dependence on current export routes. The partnership with Oman provides Iraq with improved access to Asian markets and more reliable delivery options than Basra.Talks continue for a Basra-Oman pipeline to further diversify and boost delivery capacity. "Discussions are ongoing about building a full pipeline from Basra to Oman to diversify export outlets, boost capacity, and support production growth," said Ali Nizar Al-Shatri, SOMO's General Manager, to INA on Friday.Al-Shatri confirmed that SOMO and Oman's OQ Trading agreed to cooperate, with contract talks underway.Quantum Commodity Intelligence reports Iraq’s crude exports were stable in August 2025 at 3.38 million barrels per day. This marks a notable increase over previous months, underscoring Iraq’s drive to boost exports. In July, SOMO reported total exports of 104.75 million barrels.Iraq’s Prime Minister, Mohammed Shia Al-Sudani, last week addressed the Baghdad International Energy Forum and argued that Iraq's 150 billion barrels of reserves and century-long supply capability make a stronger case for increasing the country's export quota in line with its national output capabilities.On Sunday, Al-Sudani and Hayan Abulghani, Iraq’s Minister of Oil, attended the signing ceremony of the Common Seawater Supply Project (CSSP) and Ratawi oil field redevelopment. TotalEnergies and QatarEnergy are partnering with Iraq’s Basra Oil Company on major Gas Growth Integrated Project (GGIP) initiatives.Al-Sudani commended the parties on finalising the agreements, noting that increased Qatari and international investment demonstrates Iraq’s improving business environment. He reiterated Iraq’s openness to reputable firms for infrastructure, economic development, and public service projects.The GGIP targets four areas: natural gas, solar energy, oil, and water. The CSSP (Common Seawater Supply Project) will build a seawater treatment plant near Um Qasr to deliver five million barrels of treated seawater daily to southern oil fields, helping to conserve freshwater.Ratawi upgrades have started. The first phase targets 120,000 barrels per day by early 2026. The second phase, set for 2028, will increase output to 210,000 barrels per day and end routine gas flaring. Environmental protection is central to these projects. The Gas Midstream Project will process all gas from Ratawi and clean flared gas from other fields. This gas will power 1.5 million homes. A facility will process 50 million cubic feet daily starting in 2026, aligned with Ratawi's initial phase.

US Baker Hughes signs deal to reduce gas flaring in Iraq | IranOilGas Network - US energy technology company Baker Hughes has announced an agreement with Iraq-based Halfaya Gas Company (HGC) to strengthen their collaboration for an innovative flare gas recovery system at the Bin Umar [Nahr Bin Umar, Nahr Ben Umar] gas processing plant in southeastern Iraq. The project will significantly reduce upstream flaring and transform waste gas into valuable products. The agreement builds on a previously announced memorandum of understanding to establish a collaboration for the Bin Umar development project and completion of a pre-Front End Engineering and Design (FEED) study. It marks an important step in Iraq's drive to eliminate routine flaring and support the country's energy transition and environmental priorities. The project is expected to recover up to 300 million standard cubic feet per day (MMSCFD) of flared gas. This equates to approximately 32 billion kilowatt-hours of energy annually - comparable to the yearly electricity consumption of roughly 2 million average households in Iraq. The waste gas that would have otherwise been flared will be converted into treated dry gas, liquefied petroleum gas (LPG), and condensate for domestic use and export. The companies have also agreed to collaborate on development of upstream oilfields in Iraq, also leveraging Baker Hughes' Oilfield Services & Equipment segment expertise. This includes exploring strategic opportunities to develop local maintenance and repair services, along with an industrial manufacturing collaboration.

OPEC: Investments needed to offset production decline and meet demand -- The Organization of the Petroleum Exporting Countries (OPEC) consistently supports timely investment in the oil industry, APA-Economics reports, citing OPEC’s official statement. According to the statement, investments are needed to compensate for the rate of production decline and to meet increasing demand. “It is vital that all stakeholders remain consistent in acknowledging this and refrain from returning to rhetoric about not investing in new oil projects,” the statement said.

Oil Prices Climb As Ukraine Strikes Russian Refineries, Ports -- Oil prices extended their rally on Monday after Ukraine launched fresh drone attacks on Russian refineries and ports, disrupting crude operations at key export hubs. Brent crude rose to $65.72 per barrel, while U.S. West Texas Intermediate (WTI) settled at $61.68. Ukraine claimed its strikes hit Russia’s two main oil hubs in the Baltic Sea, including Primorsk, the country’s largest oil-loading port. Reports also indicated that three pumping stations supplying crude to Ust-Luga were targeted, leading to temporary disruptions. Adding to the bullish sentiment, Chinese data showed refiners processed nearly 15 million barrels per day (bpd) of crude in August, up 7.6% year-on-year, supported by strong imports and higher domestic output. Apparent demand climbed to 14.53 million bpd, a 4.9% increase from a year earlier. In the U.S., Baker Hughes data revealed that oil drilling activity expanded for a third consecutive week, with active rigs rising by two to 416—the highest since mid-July. However, speculative positioning remained cautious. NYMEX WTI net longs fell by 14,630 lots to 12,657 in the week ending September 9, the weakest bullish stance since June 2006. Similarly, ICE Brent net longs declined by 41,476 lots to 209,578. The pullback reflects concerns over OPEC+’s recent decision to boost output and the International Energy Agency’s forecast of a record oil surplus next year, which could weigh on prices despite current geopolitical risks.

Oil Steadies on Russian Supply Woes, Wobbly Sanctions Risk (DTN) -- Oil prices edged higher Monday morning, after Ukraine ramped up its attacks on Russian oil infrastructure over the weekend. While U.S. President Trump on Saturday reiterated sanctions threats on Russian oil, he named NATO countries ceasing their purchases as a precondition. NYMEX-traded WTI for October delivery rose $0.25 to trade near $62.94 bbl, and ICE Brent for November delivery gained $0.12 to $67.11 bbl. October RBOB gasoline futures edged up $0.0087 to $1.9941 gallon, and the front-month ULSD contract was up $0.0235 to $2.3135 gallon. The U.S. Dollar Index was little changed, up 0.079 points to 97.690. Two landlocked NATO and European Union countries, Slovakia and Hungary, which are exempt from the EU ban on Russian oil imports and whose governments have often opposed stricter sanctions on Russia, are unlikely to agree to halt Russian crude oil deliveries via pipeline any time soon, rendering fresh U.S. sanctions less likely. Under their current plan, all EU countries are to phase out purchases of Russian oil by 2028. Despite this, market participants continued to focus on supply risks regarding Russian oil as Ukraine continued to damage oil infrastructure. On Thursday, Ukrainian drones struck Russia's largest oil export hub in the Baltic Sea in Primorsk, as well as several pumping stations feeding the oil terminal. On Saturday, Ukraine attacked the Kirishi refinery one of Russia's largest, although the extent of the damage has so far remained unclear. Last month alone, Ukrainian attacks on key energy infrastructure have affected about a fifth of Russian refining capacity.

Ukrainian Attacks and Secondary Sanctions on Russian Crude Buyers - The oil market posted an inside trading session on Monday after it posted an outside trading session on Friday. The market remained underpinned by disruption risks from Ukrainian attacks on Russian energy facilities and renewed calls by U.S. President Donald Trump for secondary sanctions on Russian crude buyers. The market traded higher after Ukraine launched a large attack targeting Russia overnight, causing a brief fire at the Kirishi oil refinery in Russia. Last week, Ukraine’s strikes caused the suspension of crude operations at the Primork port. The market was also well supported after President Trump said on Saturday that the U.S. was prepared to impose fresh energy sanctions on Russia, but only if all NATO nations ceased purchasing Russian oil and implemented similar measures. The crude market posted a low of $62.52 on the opening before it gradually traded back over the $63.00 level. It rallied to a high of $63.67 by mid-morning. The market later settled in a sideways trading pattern during the remainder of the session. The October WTI contract settled up 61 cents at $63.30 and the November Brent contract settled up 45 cents at $67.44. The product markets ended the session higher, with the heating oil market settling up 60 points at $2.3311 and the RB market settling up 2.8 cents at $2.0134. On Saturday, U.S. President Donald Trump said that the United States was prepared to impose fresh energy sanctions on Russia, but only if all NATO countries ceased purchasing Russian oil and implemented similar measures. The Kremlin said that it was obvious that NATO was fighting against Russia by providing direct and indirect support to Ukraine. Kremlin spokesman, Dmitry Peskov, said “NATO is de facto involved in this war.” U.S. Secretary of State Marco Rubio called on Qatar to continue to play a constructive role in resolving the Gaza conflict, speaking in Jerusalem on the same day that Arab leaders were meeting in Doha to respond to an Israeli strike. Qatar was angered last week by Israel’s attack on its capital, which targeted Hamas leaders who reside there. HSBC forecasts a big oil surplus from the fourth quarter of 2025 of 1.7 million bpd and a surplus of 2.4 million bpd in 2026. The bank also said it sees a downside risk to the bank’s 2026 $65/barrel Brent price assumption if stock builds materialize in the West. U.S. Energy Secretary Chris Wright said in a speech at the U.N. IAEA’s annual General Conference that Iran’s uranium enrichment program must be “completely dismantled”. The Baltic Sea port of Primorsk partially resumed operations on Saturday following disruptions and damage caused by Ukrainian drone strikes. Sources stated that Primorsk, which is capable of loading about 1 million bpd of oil, is expected to operate at a lower capacity due to the damage. They added that the loading schedule is expected to be delayed by several days. Just a couple of vessels loaded oil over the weekend and it was not clear if all the berths were operational.

Oil prices rise as Russian refinery attacks continue --Oil prices gained during Tuesday's Asian trade as traders weighed potential supply disruption after continued Ukrainian drone attacks on Russian refineries. By 3:05 pm AEST (5:05 am GMT), Brent crude futures rose 16 cents, or 0.2%, to US$67.60 per barrel, while U.S. West Texas Intermediate crude gained 17 cents to $63.47 per barrel. On Monday, Brent had settled up 0.7% at US$67.44, while WTI climbed 1% to US$63.30. Ukraine has stepped up its strikes against Russia’s energy infrastructure in a bid to undermine Moscow’s war capacity, as peace talks remain stalled. ANZ analysts noted: "Another drone attack struck the Kinef refinery, one of the nation’s largest. It has an annual processing capacity of over 20mt. This follows last week’s wave of attacks which Ukraine claimed have struck facilities handling almost half of Russia’s seaborne crude exports. "The International Energy Agency estimates the strikes in August have put offline 250kb/d of Russia’s active crude-processing capacity." In Washington, United States Treasury Secretary Scott Bessent said on Monday that the government would not impose further tariffs on Chinese goods to pressure Beijing to halt Russian oil purchases unless European countries introduced steep duties on China and India. Meanwhile, investors are also looking ahead to the Federal Reserve’s policy meeting on 16-17 September, where the central bank is widely expected to cut interest rates. Analysts say lower borrowing costs could help support fuel demand. Markets are additionally focused on U.S. crude stockpiles, with official data due Wednesday. Inventories are forecast to fall by 6.4 million barrels in the week ended September 12, after a build of 3.9 million barrels the previous week.

Oil Rises Ahead of FOMC as EU Weighs Secondary Sanctions -- Oil prices rose Tuesday morning after the European Union postponed a vote on the 19th sanctions package against Russia in order to more closely coordinate sanctions with G-7 partners. The reworked package may include secondary sanctions on buyers of Russian oil, a key U.S. demand and condition for additional U.S. sanctions. NYMEX-traded WTI for October delivery rose $0.25 to trade near $62.94 bbl, and ICE Brent for November delivery gained $0.12 to $67.11 bbl. October RBOB gasoline futures edged up $0.0087 to $1.9941 gallon, and the front-month ULSD contract was up $0.0235 to $2.3135 gallon. The U.S. Dollar Index was little changed, up 0.079 points to 97.690. U.S. President Trump over the weekend said he was ready to institute direct sanctions on Russia, as well as additional tariffs on imports from major buyers of Russian oil like India and China, conditional on NATO and EU countries ceasing all oil purchases from Russia. While Russian flows to Europe have plummeted since the invasion of Ukraine, two landlocked NATO and EU countries, Slovakia and Hungary, are currently exempt from the EU embargo on Russian oil imports, given their limited supply alternatives. Under their current agreement, EU countries have until 2028 to completely faze out Russian energy purchases. According to Bloomberg, EU officials are considering sanctions on Indian and Chinese companies involved in Russian oil trade in order to meet U.S. demands but may refrain from broad tariff measures given the economic bloc's reliance on their export markets. The report made no mention of an accelerated faze-out of imports of Russian oil. Expectations of U.S. interest rate cuts ahead of a two-day FOMC meeting also helped support prices. According to CME Group's FedWatch Tool, 96% of investors are expecting a 25-basis-point cut Wednesday, with the remaining 4% betting on a 50-point cut. Lower borrowing costs are set to boost oil demand as the global market faces a looming crude oil overhang in the months ahead.

Russia’s Crude Supplies May be Disrupted Due to Drone Attacks -- The oil market rallied higher on Tuesday in light of the possibility that Russia’s crude supplies may be disrupted due to Ukrainian drone attacks on its ports and refineries. Russia’s Transneft warned producers that they may have to cut their output following the Ukrainian drone attacks on export ports and refineries. Ukrainian drones have hit at least 10 refineries, cutting Russia’s refining capacity by almost a fifth and damaged its export ports. In overnight trading, the oil market traded mostly sideways, posting a low of $62.89 in early morning trading. However, the market breached its previous high and extended its gains to $1.46 as it rallied to a high of $64.76 in afternoon trading. The market also traded higher as traders await the Federal Reserve’s interest rate decision on Wednesday afternoon. The October WTI later erased some of its gains and settled up $1.22 at $64.52. The November Brent contract settled up $1.03 at $68.47. Meanwhile, the product markets ended the session higher, with the heating oil market settling up 6.24 cents at $2.3935 and the RB market settling up 2.82 cents at $2.0416. Industry sources said Russia’s oil pipeline monopoly Transneft warned producers they may have to cut output following Ukraine’s drone attacks on export ports and refineries. Ukrainian military officials and Russian industry sources said Ukrainian drones have hit at least 10 refineries, cutting Russia’s refining capacity by almost a fifth at one point and damaged its leading Baltic Sea ports of Ust-Luga and Primorsk. Transneft, which handles more than 80% of all the oil extracted in Russia, has in recent days restricted oil firms’ ability to store oil in its pipeline system. Transneft has also warned producers it may have to accept less oil if its infrastructure sustains further damage. Sources said the attacks could force Russia to ultimately cut output. The U.S. Treasury Department said the United States has issued new Iran-related sanctions targeting multiple individuals and entities. Bloomberg and Politico are reporting that the European Union will delay its latest package of sanctions against Russia, which had been scheduled to be presented on Wednesday of this week. Instead the EU is working with other G-7 members over a more comprehensive package that that could be finalized in another two weeks. U.S. Secretary of State, Marco Rubio, said Qatar and the United States are on the verge of finalizing an enhanced defense cooperation agreement after Israel’s attack on Hamas political leaders in Qatar last week drew widespread condemnation. An Israeli military official said Israel has started the main part of a ground operation to take control of Gaza City, hours after top U.S. diplomat Marco Rubio met with Benjamin Netanyahu in Jerusalem, telling him that the U.S. stood with Israel. The U.S. Environmental Protection Agency on Tuesday issued a proposal for reallocating to large refineries the biofuel blending obligations waived under the Small Refinery Exemption program, offering two primary options of 50% and 100%. Additionally, the agency said it will ask for comment on other potential volumes, such as 25%, 75% or none at all. Ukraine’s military said it struck the Saratov oil refinery during an overnight attack on Russia’s Saratov region. Goldman Sachs estimates that the Ukrainian attacks have taken out about 300,000 barrels per day of Russian refining capacity in August and so far this month.

Oil settles over 1% higher as Ukraine drone attacks target Russian supply (Reuters) - Oil prices rose over a dollar a barrel on Tuesday, as traders weighed the possibility that Russian supplies may be disrupted by Ukrainian drone attacks on its ports and refineries, and awaited the Federal Reserve's decision on U.S. interest rates. Brent crude futures settled up $1.03, or 1.5%, at $68.47 a barrel. U.S. West Texas Intermediate crude futures rose $1.22, or 1.9%, to settle at $64.52 a barrel. Russia's oil pipeline monopoly Transneft has warned producers they may have to cut output following Ukraine's drone attacks on critical export ports and refineries, three industry sources said. Ukraine has intensified attacks on Russia's energy infrastructure in recent weeks, disrupting operations at Russia's key western oil terminal Primorsk last week as talks to end their conflict have stalled. "An attack on an export terminal like Primorsk is aimed more at limiting Russia's ability to sell its oil abroad, affecting export markets," said JP Morgan analysts. "More importantly, the attack suggests a growing willingness to disrupt international oil markets, which has the potential to add upside pressure on oil prices," they said. Goldman Sachs estimates that the Ukrainian attacks have taken out about 300,000 barrels per day of Russian refining capacity in August and so far this month. U.S. diesel futures were last up 2.5%, outpacing both WTI oil and U.S. gasoline futures. The situation in Russia could lead to more tightness in U.S. diesel markets. "Should Russian refineries suffer substantial damage, it could increase demand for U.S. diesel exports and potentially sustain the inverted forward curve," Also on investors' radar is the U.S. Federal Reserve's September 16-17 meeting. The central bank is expected to cut interest rates, which should stimulate the economy and boost fuel demand. Still, analysts were cautious on the health of the U.S. economy. Markets were also factoring in the likelihood of crude inventory declines in the U.S. last week, with official data expected on Wednesday at 1430 GMT. A Reuters poll on Monday showed analysts expected U.S. crude oil and gasoline stockpiles to have fallen last week, while distillate inventories likely rose.

Oil Prices Fall As G7, EU Advance Plans To Phase Out Russian Fuel --Oil prices edged lower on Wednesday as traders weighed the US Federal Reserve’s upcoming interest rate decision against supply risks linked to the Russia-Ukraine war. Brent crude fell 0.2% to $68.05 per barrel, while US benchmark West Texas Intermediate (WTI) eased 0.01% to $64.08. The Fed is widely expected to cut rates by 25 basis points later in the day, with markets watching Chair Jerome Powell’s remarks and new economic projections for guidance on the policy outlook. Analysts noted that while lower borrowing costs could support demand, a global supply surplus remains likely as OPEC+ continues to raise output. Meanwhile, geopolitical risks remain in focus after European Commission President Ursula von der Leyen announced plans to accelerate the EU’s phase-out of Russian fossil fuel imports. The move will be part of the bloc’s forthcoming 19th sanctions package against Moscow. “Russia’s war economy, sustained by revenues from fossil fuels, is financing the bloodshed in Ukraine. To put an end to it, the Commission will propose speeding up the phase-out of Russian fossil imports,” von der Leyen said on X following a call with US President Donald Trump. Trump has repeatedly criticised European allies for what he described as “not tough enough” sanctions, pointing to continued Russian oil purchases. In response to sanctions, Russia has increased oil exports to China and India. The EU has pledged to completely phase out Russian oil and gas imports by January 1, 2028. The latest sanctions package is expected to target Russia’s banking sector, energy revenues, and cryptocurrency use to evade restrictions. Since the start of the war in February 2022, the EU has banned imports of Russian coal and most crude oil while imposing sweeping financial sanctions. On the supply side, the American Petroleum Institute reported on Tuesday that US crude stockpiles fell by 3.42 million barrels in the week ending September 12, alongside a drawdown in gasoline inventories. Official Energy Information Administration figures are due later Wednesday.

WTI Extends Gains After Biggest Crude Draw In 3 Months - Oil prices leaked lower overnight after a three-day advance as traders assess the fallout from Ukrainian attacks on Russian energy infrastructure and a Federal Reserve interest rate decision later Wednesday. WTI was trading around $64.50 a barrel after gaining 3.2% in the previous three sessions. Ukraine attacked the Saratov refinery in its latest strike on Russian energy facilities - which have helped cut the OPEC+ member’s production to its lowest post-pandemic level, according to Goldman Sachs.A big crude draw reported by API overnight will prompt some buying pressure if confirmed by the official EOA data. API:

• Crude -3.42mm (-1.6mm exp)
• Cushing
• Gasoline -691k
• Distillates +1.9mm

DOE:

• Crude -9.285mm - biggest build since June
• Cushing -296k
• Gasoline -2.347mm
• Distillates +4.046mm

US crude stocks plunged over 9 million barrels last week (far greater than expected and the biggest draw since June). Gasoline inventories also saw a drawdown while distillates stocks rose for the 3rd straight week... Graphics Source: Bloomberg. Even accounting for the 504k barrel addition to the SPR, total US commercial crude stocks saw their second biggest weekly decline in 15 months... US crude production remains near record highs as the decline the rig count has finally stalled...The recent gains haven’t been enough to push oil out of the $5 band it has been in for most of the past month-and-a-half, buffeted between geopolitical tensions and bearish fundamentals.

The Federal Reserve Indicated it Will Steadily Lower Borrowing Costs -- The oil market posted an inside trade day on Wednesday as the market continued to assess the risk to Russian oil supplies following the Ukrainian drone attacks on its energy infrastructure. The market posted a high of $64.67 on the opening before it erased some of its gains and traded below the $64.00 level. However, the market retraced its earlier losses as the market remained supported by concerns over Russia’s oil supply ahead of the release of the EIA’s petroleum stocks report. In a yo-yo manner, the market traded back towards its high as the EIA report showed a larger than expected draw in crude stocks of over 9.2 million barrels, only to give up some of its gains on a larger than expected build in distillates stocks. The market remained pressured ahead of the close after the Fed announced an expected 25 basis point interest rate cut ahead of the close. The October WTI contract sold off to a low of $63.69 and settled down 47 cents at $64.05, while the November Brent contract settled down 52 cents at $67.95. The product markets ended the session in negative territory, with the heating oil market settling down 3.87 cents at $2.3548 and the RB market settling down 1.29 cents at $2.0287. Bloomberg reported that U.S. President Donald Trump said he spoke to India’s Prime Minister Narendra Modi, a move that could ease tensions between the two countries amid a fight over tariffs and India’s purchases of Russian oil. Saudi Arabia’s Foreign Ministry condemned “in the strongest terms” the Israeli ground operation in Gaza City, a day after Israel unleashed a long-threatened ground assault on the enclave. The U.S. Department of State said the Unites States is designating four Iran-aligned militia groups as foreign terrorist organizations. Two European and one Iranian diplomat said Iranian Foreign Minister Abbas Araqchi and the British, French and German Foreign Ministers made little progress in talks on Wednesday aimed at averting international sanctions on Tehran over its nuclear program being reimposed at the end of this month. IIR Energy reported that U.S. oil refiners are expected to shut in about 787,000 bpd of capacity in the week ending September 19th, cutting available refining capacity by 190,000 bpd. Offline capacity is expected to increase to about 1 million bpd in the week ending September 26th. Federal Reserve Chair Jerome Powell said the Federal Reserve is in a “meeting-by-meeting situation” regarding the outlook for interest rates. The Fed Chair said that some of the more dire inflationary scenarios facing the economy have faded. He said tariffs are pushing up price pressures, but it increasingly looks like it will be “a one time price increase, as opposed to creating an inflationary process.” The Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday and indicated it will steadily lower borrowing costs for the rest of this year, as policymakers responded to concerns about weakness in the job market in a move that won support from most of President Donald Trump’s central bank appointees.

Oil prices little changed as traders weigh US rate cut with worries over US economy - - Oil prices were little changed on Thursday as traders weighed the start of looser monetary policy after the U.S. Federal Reserve cut interest rates against concerns about the U.S. economy. Brent crude futures rose 23 cents, or 0.3%, to $68.18 a barrel at 10:50 a.m. EDT (1450 GMT), while U.S. West Texas Intermediate (WTI) crude CLc1 rose 23 cents, or 0.4%, to $64.28. The Fed cut its policy rate by a quarter of a percentage point on Wednesday and indicated it will steadily lower borrowing costs over the rest of the year, responding to signs of weakness in the jobs market. Lower borrowing costs typically boost demand for oil and push prices higher. Kuwait’s oil minister Tariq Al-Roumi said he anticipates an increase in oil demand following the recent U.S. interest rate cut, with a particular rise expected from Asian markets. Kuwait is a member of the Organization of the Petroleum Exporting Countries (OPEC). In Qatar, another member of OPEC, state-owned QatarEnergy hiked the term price for al-Shaheen crude oil loading in November to the highest in eight months. Some analysts, however, were more sceptical about a positive impact on oil prices. “They did this now because clearly the economy is slowing down,” said Jorge Montepeque, managing director at Onyx Capital Group. “The Federal Reserve is trying to restore growth.” The number of Americans filing new applications for unemployment benefits fell last week, reversing the prior week’s jump, but the labor market has softened as both the demand for and supply of workers have diminished. U.S. single-family home building plunged to a near 2-1/2-year low in August amid a glut of unsold new houses, suggesting the housing market could remain an economic headwind this quarter. Persistent oversupply and soft fuel demand in the U.S., the world’s biggest oil consumer, also weighed on the market. U.S. crude oil stockpiles fell sharply last week as net imports dropped to a record low while exports jumped to a near two-year high, data from the Energy Information Administration showed on Wednesday. A rise in distillate stockpiles by 4 million barrels, however, against market expectations of a gain of 1 million barrels raised worries about demand in the world’s top oil consumer and pressured prices. In Russia, the world’s second biggest producer of crude in 2024 after the U.S., the Finance Ministry announced a new measure to shield the state budget from oil price fluctuations and Western sanctions targeting Russian energy exports. Elsewhere in Russia, Ukraine said its drones struck a major oil processing and petrochemical complex and an oil refinery in Russia, part of an intensifying campaign to disrupt Moscow’s oil and gas sector. Exxon Mobil CEO Darren Woods told the Financial Times in an interview that the U.S. oil major has no plans to resume operations in Russia. While in Germany, the biggest economy in Europe, parliament approved the nation’s first annual budget since sweeping reforms to loosen fiscal rules were passed earlier this year, securing record investments to revive the economy while committing to an increase in defence spending. In the Middle East, Israel said its military will attack Hezbollah military infrastructure in southern Lebanon “in response to its attempts to rebuild its activities in the area.”

Oil Prices Steady on Mixed US Oil Inventory Report - Oil prices fluctuated between small gains and losses Thursday morning, after a weekly U.S. government oil inventory report sent mixed signals about the state of oil and fuel demand. NYMEX-traded WTI for October delivery was unchanged at $64.05 bbl, and ICE Brent for November delivery dipped $0.02 to $67.93 bbl. October RBOB gasoline futures slid $0.0151 to $2.0136 gallon, and the front-month ULSD contract retreated $0.0002 to $2.3546 gallon. Following the first Federal Reserve rate cut since December, the U.S. Dollar Index jumped 0.710 points to 97.230 against a basket of foreign currencies. The U.S. Energy Information Administration on Wednesday reported commercial crude oil inventories shrank by 9.3 million bbl last week as exports soared to a 21-month high. At the same time, a surprisingly large build in distillate fuel oil inventories raised concerns over the health of the U.S. economy and fuel demand. Nationwide distillate fuel oil stocks jumped 4.7 million bbl, or 4%, in a single week to 120.6 million bbl. The Fed's 25-basis point cut lent rather tepid support to markets -- given the largely expected, and priced-in, move. Chairman Jerome Powell in remarks delivered Wednesday suggested more rate cuts to come, reiterating, however, that inflation risks have not subsided. Powell suggested the central bank will continue to apply caution in the timing future rate cuts. Investors expect another two 25-basis-point cuts this year.

Oil prices settle lower, US economic concerns outweigh Fed rate cut (Reuters) - Oil prices eased on Thursday, settling lower as traders remained worried about the U.S. economic outlook a day after the U.S. Federal Reserve cut interest rates for the first time this year. Brent crude futures fell 51 cents, or 0.8%, to settle at $67.44. U.S. West Texas Intermediate (WTI) crude fell 48 cents, or 0.8%, to settle at $63.57. The Fed cut its policy rate by a quarter of a percentage point on Wednesday and indicated it will steadily lower borrowing costs over the rest of the year, responding to signs of weakness in the jobs market. Lower borrowing costs typically boost demand for oil and push prices higher. "They did this now because clearly the economy is slowing down," "The Federal Reserve is trying to restore growth." The number of Americans filing new applications for unemployment benefits fell last week, reversing the prior week's jump, but the labor market has softened as both the demand for and supply of workers have diminished. U.S. single-family home building plunged to a near 2-1/2-year low in August amid a glut of unsold new houses, suggesting the housing market could remain an economic headwind. Persistent oversupply and soft fuel demand in the U.S., the world's biggest oil consumer, also weighed on the market. U.S. crude oil stockpiles fell sharply last week as net imports dropped to a record low while exports jumped to a near two-year high, data from the Energy Information Administration showed on Wednesday. A rise in U.S. distillate stockpiles by 4 million barrels, however, against market expectations of a gain of 1 million barrels, raised worries about demand in the world's top oil consumer and pressured prices. In Russia, the world's second biggest producer of crude in 2024 after the U.S., the Finance Ministry announced a new measure to shield the state budget from oil price fluctuations and Western sanctions targeting Russian energy exports. Ukraine said its drones struck a major oil-processing and petrochemical complex and an oil refinery in Russia, part of an intensifying campaign to disrupt Moscow's oil and gas sector. Exxon Mobil CEO Darren Woods told the Financial Times in an interview that the U.S. oil major has no plans to resume operations in Russia. Anything that keeps Russian barrels out of the international oil market should be bullish for prices. Kuwait's oil minister, Tariq Al-Roumi, however, said he anticipates an increase in oil demand following the U.S. interest rate cut, with a particular rise expected from Asian markets. Kuwait is a member of the Organization of the Petroleum Exporting Countries (OPEC). In Qatar, another member of OPEC, state-owned QatarEnergy hiked the term price for al-Shaheen crude oil loading in November to the highest in eight months. In Germany, the biggest economy in Europe, parliament approved the nation's first annual budget since sweeping reforms to loosen fiscal rules were passed earlier this year, securing record investments to revive the economy while committing to an increase in defense spending. In the Middle East, Israel launched fresh air strikes against Hezbollah military targets in south Lebanon to stop the militant group from rebuilding in the area.

Oil prices fall as markets weigh U.S. demand fears, supply outlook -- Oil prices slipped lower Friday on growing concerns over slowing U.S. demand, but were still on track for weekly gains as the Federal Reserve’s rate cut could spur consumption. At 04:50 ET (08:50 GMT), Brent oil futures for November fell 0.5% to $67.11 a barrel, and West Texas Intermediate crude futures dropped 0.7% to $63.10 a barrel. Both benchmarks were on course for small gains this week as increased hostilities between Russia and Ukraine spurred bets on more supply disruptions.That said, President Trump has called for lower oil prices to pressure Moscow to end the war in Ukraine. Trump said the war would end “if the price of oil comes down,” and repeated calls for countries to stop buying fuel from the OPEC+ member. The crude market was boosted by the Fed cutting interest rates and signaling that it will cut rates further in the coming months. Lower U.S. interest rates are expected to help shore up demand in the coming months. This may be needed as U.S. inventory data this week showed a sharp increase indistillate stockpiles, pointing to a slowing in U.S. demand as the summer driving season comes to an end.Continued signs of a cooling U.S. labor market also kept oil markets on edge over slowing demand. Additionally, expectations of higher supplies were furthered by Kazakhstan resuming oil supplies via the Baku-Tbilsi-Ceyhan (BTC) pipeline earlier in September, the government said this week. Supplies through the route were suspended in August due to contamination issues. The pipeline is mainly used to export oil from three key oil fields, and also allows Kazakhstan to export oil without depending on Russia as a main route. Elsewhere, Nigeria lifted emergency rule in its oil-rich Rivers State after six months, stating that a constitutional crisis in the region was resolved. The region is a key exporting hub for Nigeria’s oil industry, with militants in the past having targeted local pipelines.

Oil pares weekly gain as Trump calls for low prices to end war - Oil pared a second weekly gain as renewed calls by US President Donald Trump for lower prices to pressure Moscow to end the war in Ukraine weighed against renewed attacks on Russian energy infrastructure.Brent traded above $67 a barrel after losing 0.8% in the previous session while West Texas Intermediate was below $64. Trump said the war would end “if the price of oil comes down,” a sign of his preferred strategy to halt the flow of petrodollars that fund Russia’s war effort. He also repeated calls for countries to stop buying oil from the OPEC+ member.While oil futures are set to edge higher this week, they have been stuck in a tight range since early August as the market is buffeted by rising geopolitical risks and bearish fundamentals. A faster-than-expected output reversal by the Organization of the Petroleum Exporting Countries and its allies has led the International Energy Agency to predict a record surplus next year.Meanwhile, Ukraine attacked two Russian oil refineries on Thursday as it steps up its campaign to hit Moscow’s biggest source of funds — leading to concerns further closures may threaten to tighten global markets. Russian refining runs have now dropped below 5 million barrels a day, the lowest since April 2022, according to estimates from JPMorgan Chase & Co. Investors will also be watching the call later on Friday between Trump and Chinese President Xi Jinping for a potential easing of trade tensions between the world’s two biggest economies. The two leaders are due to speak at 9 a.m. Washington time.

Oil prices slip as robust supply outweighs Fed cut (Reuters) - Oil prices dropped on Friday as worries about large supplies and declining demand outweighed expectations that the year's first interest-rate cut by the U.S. Federal Reserve would trigger more consumption. Brent crude futures settled at $66.68 a barrel, down 76 cents or 1.1%. U.S. West Texas Intermediate futures finished at $62.68, down 89 cents or 1.4%. Both benchmarks rose for a second consecutive week. "Oil supplies continue to remain robust and OPEC is reducing its oil production cuts," "We haven't seen an impact on Russian crude oil exports" from sanctions. The Fed cut its policy rate by a quarter of a percentage point on Wednesday and indicated that more cuts would follow as it responded to signs of weakness in the U.S. jobs market. Lower borrowing costs typically boost demand for oil and push prices higher. John Kilduff, partner with Again Capital, said future Fed rate cuts of a quarter of a percentage point would likely not boost oil markets because they would further weaken the dollar, making oil more expensive to buy. "The Fed will have to be more aggressive than they have been," "We need a 50 (basis-point increase) to boost demand. The Fed's action is not translating to growth for the crude market due to underlying market fundamentals." On the demand side, all energy agencies, including the U.S. Energy Information Administration, have signaled concern about weakening demand, tempering expectations of significant near-term price upside, Lipow also saw effects on the demand side. "The refinery turnaround season will further reduce demand," he said. Refineries shut production units in the spring and fall for overhauls, called turnarounds. A higher-than-expected increase of 4 million barrels to U.S. distillate stockpiles (USOILD=ECI), opens new tab raised worries over demand in the world's top oil consumer and pressured prices. The latest economic data added to concerns, with the U.S. jobs market softening while single-family homebuilding plunged to a multi-year low in August, discouraged by a glut of unsold new houses.

Iraq's Gas Deal Through Iran Blocked by U.S. -- As a result, Iraq is now actively seeking alternative solutions for its gas supply, including negotiations for floating regasification terminals to import liquefied natural gas.Iraq’s hopes to boost its natural gas supply and end crippling power shortages have been dashed as an Iraqi plan to import gas from Turkmenistan via pipeline through Iran has failed to secure approval from the United States. Iraq has sought U.S. approval to import Turkmenistan’s gas via Iran, but an approval never came, Iraqi officials told Reuters. The newswire has also reviewed draft contracts for the swap deal under which Iran gets no money but can retain up to 23% of the gas volumes from Turkmenistan that are en route to Iraq. After months of engaging with the Trump Administration, Iraq has failed to secure a waiver from the U.S. which has launched a “maximum pressure” campaign against Iran. “Proceeding (with the Turkmen deal) could trigger sanctions on Iraqi banks and financial institutions, so the contract is currently suspended,” Adel Karim, adviser to Iraq's prime minister for electricity affairs, told Reuters. The failure of this plan means that Iraq now has to seek alternatives. Despite being rich in oil and gas, Iraq has had to import gas from neighboring countries, including Iran, for fuel at its power plants. Iraq lacks the gas processing plants necessary to process the associated gas extracted from its massive oilfields and continues to flare some of those gas volumes. Earlier this year, Iraq’s electricity supply predicament worsened after the Trump Administration ended a waiver for Iraq to import electricity from Iran. Reports have emerged in recent months that Iraq is negotiating the procurement of two floating regasification terminals as it seeks to replace gas supply from Iran. Texas-based company Excelerate Energy is one of the bidders in a tender to provide a floating storage and regasification unit (FSRU) that would welcome Iraq’s first-ever LNG imports, a senior Iraqi official told Bloomberg in June.

Oil tankers damaged in attack on Russian port - Ukrainian President Volodymyr Zelenskyy signalled that attacks against Russia’s oil export centres would continue, following reports that two tankers were damaged in drone strike on the Baltic port of Primorsk. Zelenskyy highlighted the port attack in comments on Sunday after the Cai Yun and Kusto were set alight, according to Reuters, citing industry sources. The two ships remained outside the main terminal area as loading operations appeared to be continuing after a suspension following the overnight attacks late last week.

Ukraine hits Russian oil refinery deep behind front - The Hindu -Ukrainian drones on Thursday (September 18, 2025) hit a major Russian oil refinery some 1,400 kilometres (870 miles) from the front line, triggering a fire, officials from both countries said. The strike is the latest in a wave of drone attacks on Russia's energy infrastructure as Kyiv seeks to knock out Russia's vital energy revenues that fund its army. Ukraine attacks major Russian refinery with big drone assault A source in Ukraine's SBU security agency said its drones had hit "the heart" of a refinery in the central Bashkortostan region run by state-controlled energy giant Gazprom. Unverified images on Russian social media showed a fire at the facility and a plume of dark smoke rising above it. Russia typically does not confirm successful Ukrainian strikes, but Radiy Khabirov, the Russian head of the region, said on Thursday the refinery had been hit. "Two drones attacked the facility. There were no fatalities or people wounded. Passive and active defences were activated and the site's security opened fire to neutralise them," he said on social media on Thursday morning. "We are assessing the state of the damage and currently extinguishing the fire," he added. Strikes over the summer months have knocked out a notable portion of Russia's refining capacity. Though there are no official estimates as to the extent of the damage, fuel prices have surged across the country and petrol shortages have been recorded in many regions. The Kremlin extended a ban on petrol exports in a bid to keep prices on the domestic market in check. Gazprom Neft said earlier on Thursday it was delaying planned maintenance work at one site in order not to exacerbate the fuel crisis. U.S. President Donald Trump is also seeking to hobble Russia's potential to earn from its energy sales, ramping up tariffs on India over its purchases of Russian oil, threatening China and urging Europe to do the same.

Russian jets fly into Estonian airspace; Prime Minister invokes NATO Article 4 consultations --Three Russian fighter jets flew into Estonian airspace Friday in what the country’s top diplomat called an “unprecedented and brazen intrusion.” Estonia Prime Minister Kristen Michal later on Friday requested NATO Article 4 consultations. Article 4 allows NATO members to bring any issue threatening that country’s territorial integrity or political independence or security to other NATO members. “This morning, 3 Russian Mig-31 fighter jets entered Estonian airspace. NATO fighters responded and the Russian planes were forced to flee. Such violation is totally unacceptable. The Government of Estonia has decided to request NATO Article 4 consultations,” Michael wrote in a post on X. The three Russian MiG-31s flew into Estonian airspace for 12 minutes, Margus Tsahkna, Estonia’s minister of foreign affairs, wrote in a separate post on X. Tsahkna said the Russian charge d’affaires was summoned over “another violation of Estonia’s airspace.” “This is an unprecedented and brazen intrusion — clear proof of Russia’s growing aggression,” Tsahkna said. “Such actions cannot be tolerated and must be met with swift political and economic pressure.” Russia’s incursion into Estonia follows a high-profile violation of Poland’s airspace last week, which also triggered NATO air defenses. Poland also invoked the alliance’s Article 4 pillar, convening NATO members for consultation over threats to a member. At least 19 Russian drones crossed over into Polish airspace Sept. 9, amid a major Russian aerial assault against Ukraine. Polish officials said the incursion was “intentional” and pushed back on President Trump saying the Kremlin might have made a mistake.

Arab Ministers Meet on Response to Israeli Attack in Qatar – NYTimes - Arab foreign ministers met on Sunday in the Qatari capital, Doha, to formulate a united response to Israel’s brazen missile attack last week that aimed to assassinate senior leaders of Hamas in the city.The ministers were laying the groundwork for an emergency summit in Doha on Monday that will bring together leaders of Arab and Islamic countries.The Israeli strike on Tuesday targeted senior Hamas officials who had gathered in the Qatari capital to discuss a U.S.-backed cease-fire proposal to stop the fighting in Gaza. It hit a residential neighborhood in broad daylight, killing several people affiliated with Hamas as well as a member of Qatar’s internal security forces.Hamas said it had failed to kill any of the targeted officials. Israel has not released its own assessment of whether the strike had produced its intended consequences. The attack on Qatar, a U.S. ally that hosts a major American military installation in the Middle East, drew sharp international condemnation. Even close allies of Israel have denounced it as a violation of Qatar’s sovereignty. Marco Rubio, the U.S. secretary of state, landed in Israel on Sunday amid signs that President Trump was growing frustrated with Prime Minister Benjamin Netanyahu of Israel over the prolonged war in Gaza. Mr. Rubio said he planned to discuss the Qatar attack with Mr. Netanyahu. Mr. Trump “didn’t like the way it went down,” Mr. Rubio told reporters before his departure on Saturday. “We’ll talk about what impact it’s going to have on efforts to get all the hostages back, get rid of Hamas, end this war,” Mr. Rubio added. Qatari officials have said they agreed to host political leaders of Hamas at the behest of the United States to keep open channels of communication. That had positioned the country as a critical mediator in talks to end the war in Gaza. It remains unclear how the Israeli strike will affect the cease-fire negotiations, which were already stalled. Qatar and Egypt could suspend their roles as mediators — but acting as intermediaries is a source of influence, and the two countries have stopped short of dropping out so far. The attack sent shock waves through Gulf capitals that in recent years have been courted by Israel as potential allies and that have long regarded the United States as their main security guarantor. “The reckless and treacherous Israeli aggression was committed while Qatar was hosting official and public negotiations, with the knowledge of the Israeli side,” Sheikh Mohammed bin Abdulrahman al-Thani, the prime minister of Qatar, said on Sunday, addressing the Arab foreign ministers in Doha. “What encourages Israel to continue on this path is the international community’s inability to hold it accountable and the lack of consequences for any crime it commits,” he added. “We must not remain silent or complacent about this barbaric aggression and must take real, tangible measures at various levels to prevent further escalation, which, if left unchecked, will not stop.” Analysts say that a military response by Gulf countries is out of the question because further escalation could harm the domestic agendas of the Gulf’s rulers, and because they remain dependent on American military support. Gulf sovereign wealth funds control about $4 trillion in assets around the world, giving them financial and economic leverage that they could deploy against Israel or its U.S. ally, which supplies the country with weapons. The regional leaders could decide to downgrade or abrogate the Abraham Accords, a 2020 deal backed by the United States, under which the United Arab Emirates, Bahrain and Morocco established diplomatic relations with Israel. Mr. Netanyahu has defended the attack in Doha. In comments on social media Saturday night, he claimed that the Hamas leaders outside Gaza had “blocked all cease-fire attempts in order to endlessly drag out of the war.”“Getting rid of them would rid the main obstacle to releasing all our hostages and ending the war,” he said.Mr. Netanyahu’s opponents — including many Israelis — argue that he is the one who has dragged the war out to mollify his hard-line coalition allies. The war in Gaza began after Hamas led the Oct. 7, 2023, attack on Israel. Mr. Netanyahu is wanted by the International Criminal Court for war crimes. Human rights groups argue that the campaign in Gaza now constitutes a genocide. Israeli officials dispute that charge and argue that they are fighting a defensive war. They say Hamas could end the fighting by laying down its arms and returning the hostages still held in the enclave, which it has refused to do.

Netanyahu says Qatar funds Hamas, strike 'justified' --Israeli Prime Minister Benjamin Netanyahu said on Tuesday that the strike on Qatar last week was "justified," due to the Gulf state's ties to Hamas. "Qatar is connected to Hamas, it bolsters Hamas, it harbours Hamas, it funds Hamas... It has strong levers (that it could pull), but it chose not to," Netanyahu claimed during a press conference. "Therefore our action was entirely justified." The unprecedented attack on a Hamas meeting in Doha, where officials were discussing the terms of a Gaza truce, was the first such Israeli strike on fellow US ally Qatar. The bombing resulted in the death of six people, none of whom were the top Hamas officials Israel was targeting, according to the group and Israeli sources quoted by national media. In response to the strike, Qatar convened an emergency summit of the Arab League and Organisation of Islamic Cooperation on Monday that brought together nearly 60 countries to call for firm action against Israel. Qatar has no diplomatic ties with Israel and has long hosted leaders of the Palestinian group. It has also played a pivotal role in mediating between Israel and Hamas in negotiations for a ceasefire in the war and the release of the 251 Israeli captives captured by Palestinian fighters during that assault. Between 2018 and 2023, Qatar sent millions of dollars in monthly cash handouts and aid to Gaza, with the approval of Netanyahu's cabinet at the time. Earlier this year, Israeli media reported that two of Netanyahu's aides were being investigated by the Shin Bet internal security agency for allegedly receiving payments from Qatar. The scandal, dubbed "Qatargate", raised questions about the possibility of Qatari influence in the prime minister's Office. Netanyahu, who was called to testify in the investigation in March, denounced it as a "political witch hunt".

Israeli strike in Qatar was a gamble that appears to have backfired -(AP) — When Prime Minister Benjamin Netanyahu ordered this week’s attempted assassination of Hamas leaders in Qatar, he took a major gamble in his campaign to pound the group into submission. With signs growing that the mission failed, that gamble appears to have backfired.Netanyahu had hoped to kill Hamas’ senior exiled leaders to get closer toward his vision of “total victory” against the militant group that attacked Israel on Oct. 7, 2023, and pressure it into surrendering after nearly two years of war in the Gaza Strip. Instead, Hamas claims its leaders survived, and Netanyahu’s global standing, already badly damaged by the scenes of destruction and humanitarian disaster in Gaza, took another hit. The airstrike Tuesday has enraged Qatar, an influential U.S. ally that has been a key mediator throughout the war, and drawn heavy criticism across the Arab world. It also has strained relations with the White House and thrown hopes of reaching a ceasefire into disarray, potentially endangering the 20 hostages still believed to be alive in Gaza. But while the strike marks a setback for Netanyahu, the Israeli leader shows no sign of backing down or halting the war. And with his hard-line coalition still firmly behind him, Netanyahu faces no immediate threat to his rule. Five low-level Hamas members and a Qatari security guard were killed in the strike. But Hamas has said the intended target, senior exiled leaders meeting to discuss a new U.S. ceasefire proposal, all survived. The group, however, has not released any photos of the leaders, and Qatar has not commented on their conditions. If the airstrike had killed the top leadership, the attack could have provided Netanyahu an opportunity declare Hamas’ destruction, said Harel Chorev, an expert on Arab affairs at Tel Aviv University. “It’s all very symbolic and it’s definitely part of the thing which allows Netanyahu at a certain point to say ‘We won, we killed them all,’” he said. Israel’s fierce 23-month offensive in Gaza has wiped out all of Hamas’ top leadership inside the territory. But Netanyahu has set out to eradicate the group as part of his goal of “total victory.” That is now looking increasingly unlikely, making it even harder for Netanyahu to push a ceasefire through his hard-line coalition. Far-right members of Israel’s governing coalition have cornered Netanyahu, threatening to topple his government unless Israel pushes ahead with an expanded operation in Gaza City, despite serious misgivings by many in the military leadership and widespread opposition among Israel’s public. A successful operation in Qatar could have allowed Netanyahu to placate the hard-liners, even though it would have eliminated the very officials responsible for negotiating a possible ceasefire. Israel has had the ability to target Hamas leaders in Doha from the start of the war but did not want to antagonize the Qataris while negotiations took place, Chorev said. Qatar has helped negotiate two previous ceasefires that have released 148 hostages, including eight bodies, in exchange for thousands of Palestinian prisoners. Israel’s military has rescued just eight hostages alive, and retrieved the bodies of 51 hostages. While Israel has complained that Qatar was not putting pressure on Hamas, it had continued to leave that channel open — until Tuesday. “Israel, by the attack, notified the whole world that it gave up on the negotiations,” Chorev said. “They’ve decided to burn the channel with Qatar.” Asked if ceasefire talks would continue, Qatar’s prime minister, Sheikh Mohammed bin Abdulrahman Al Thani said that after the strike, “I don’t think there’s anything valid” in the current talks. But he did not elaborate and stopped short of saying Qatar would end its mediation efforts.

Israeli fighter jets launched ballistic missiles from the Red Sea in Qatar strike, official says --Israeli fighter jets over the Red Sea launched ballistic missiles to target Hamas leaders in Qatar last week, a U.S. defense official said, in what was a method likely designed to overcome the energy-rich country’s air defenses and avoid entering any Mideast nation’s airspace. The 9 September attack, which killed six people in Qatar's capital, Doha, upended months of diplomacy mediated by the Arabian Peninsula nation to reach a ceasefire in Israel's war on Gaza, which has devastated the Gaza Strip over nearly two years. Just over a week after the missile launch, Israel began a ground offensive targeting Gaza City. That has reignited anger in the region over the war, while the Doha attack has raised fears in other countries that they, too, could be struck. The Israeli military took advantage of the element of surprise by firing in a direction probably not anticipated by Qatar or the United States, whose Mideast forward headquarters operates out of Al Udeid Air Base in Qatar. Even if those countries did know, experts say the Patriot missile batteries in Qatar likely would have been unable to intercept the missiles traveling through space at multiple times the speed of sound. "We're probably talking about a few minutes from fire to impact, so not long at all," said Sidharth Kaushal, a missile expert and senior research fellow at the London-based Royal United Services Institute think tank. "Even if (Patriot batteries) did pick it up, interception would have been dumb luck at that point." The U.S. defense official told The Associated Press that the missiles were fired by Israeli fighter jets over the Red Sea, with Hamas leaders gathered in Qatar to consider a Gaza ceasefire proposal. The official had direct knowledge about how Israel conducted the strike and spoke on condition of anonymity to discuss intelligence matters. Another U.S. defense official, who similarly spoke on condition of anonymity, said the Israeli strike was an "over-the-horizon" attack from outside Qatar's airspace. The American military typically uses the term to describe airstrikes conducted from great distances. By launching ballistic missiles into space, Israel kept their missiles out of the airspace of surrounding Gulf countries, particularly Saudi Arabia, with which Israel long has wanted to reach a diplomatic recognition deal. There is "the political factor, you're not flying over Saudi airspace and violating their sovereignty in the process, which is obviously useful if you do harbor the hope of ... normalizing things with the Saudis," Kaushal said.

Netanyahu refuses to rule out further strikes on Hamas leaders - Israeli Prime Minister Benjamin Netanyahu has not ruled out further strikes on Hamas leaders following last week's attack in Qatar, saying they would not have immunity "wherever they are". Speaking at a press conference in Jerusalem with US Secretary of State Marco Rubio, Netanyahu said every country had the right "to defend itself beyond its borders". Israel's decision to target Hamas leaders in Qatar - a close US ally - drew international outrage and criticism from US President Donald Trump. Hamas said six people were killed but that its leaders survived. Netanyahu's comments come days after the White House said Trump had assured Qatar "that such a thing will not happen again on their soil". When pressed on whether the US had any involvement in the strike, Netanyahu told journalists: "We did it on our own. Period." In response to a BBC question about whether the strike had damaged US relations in the region, Rubio said Washington maintained "strong relationships with our Gulf allies". The pair presented a broadly united front, even amid the apparent tensions, with Rubio praising the two countries' technological and cultural ties - and Netanyahu saying Israel had "no better ally". Their meeting comes as Arab leaders hold a summit in a show of support for Qatar. The Qatari prime minister urged the international community to stop applying "double standards" and to punish Israel. Asked later whether there were any guarantees Israel would not strike the country again, Trump said twice that Netanyahu "won't be hitting Qatar". Qatar hosts a major US airbase and has played a key role in brokering diplomatic efforts to end the war in Gaza, serving as a mediator of indirect negotiations between Hamas and Israel. It has hosted the Hamas political bureau since 2012. According to a State Department official, Rubio will travel on to Qatar following his Israel trip. On Sunday, Netanyahu told reporters that the US-Israel relationship was as "durable as the stones in the Western Wall" while he and Rubio made a short visit to the holy site in Jerusalem's Old City. During the trip - on which they were accompanied by US ambassador to Israel Mike Huckabee - Rubio wrote a note and placed it into the wall, a traditional ritual performed by visitors. The men ignored reporters' questions focusing on Israel's strikes in Qatar. Also thought to have been discussed by Netanyahu and Rubio are Israeli military plans to seize Gaza City and Israel's continued expansion of settlements in the occupied West Bank. Over the weekend, the Israeli military pressed ahead with the demolition of residential buildings in Gaza City, and - according to local media - is now poised to begin ground operations in the Western neighbourhoods of the city. It has demanded that Gaza City's residents leave and head south to a central area of the strip. The Israel Defense Forces (IDF) estimate about 250,000 Palestinians have fled, though hundreds of thousands are believed to remain in the area. Some say they cannot afford to go south, while others say southern Gaza is not safe as Israel has carried out air strikes there too. Some have said they attempted to go south but were unable to pitch their tents, so returned to Gaza City. "They are asking us to leave our homes, as if they're asking us to go on a trip," said Gaza City resident Hafez Habous. "Here in Gaza we will die for one reason: we simply have no money. We have no tents, no makeshift shelters, and transport is unavailable." "If you speak to a driver to go south he asks for 300 shekels," he said - the equivalent of about $90 or £65. "How come? I don't even have 100. I don't even have money for tomorrow's food. So how can we move south?"

UN slams Israeli claims that fighters were in bombed Gaza school - The UN slammed Israeli claims that Hamas fighters were at a Gaza school housing displaced people, which was targeted in an Israeli bombing on Wednesday, killing 18 people and wounding many others. UN spokesman Stephane Dujarric reiterated that the school was solely being used as a shelter in a press statement given on Thursday. "If it was being used with malicious intent, we would have known. There is no evidence of that," he said. The comments came after Israel alleged its forces had carried out a "precise strike on terrorists operating inside a Hamas command and control centre" in the school. The UN Relief and Works Agency (UNRWA) affiliated school, also known as the Al-Jaouni school, had become a shelter for forcibly displaced Palestinians since the start of the war in the enclave. According to UN officials, around 12,000 people had sought refuge at the school. The bombing on the Al-Nuseirat camp on Wednesday, where the school was located, killed 18 people, including six UNRWA staff members. "We are trying to strike a balance between protecting our staff and providing the assistance that people of Gaza desperately need," UN Secretary-General Antonio Guterres said, adding that UN officials were in contact with officials in the Israeli government to try and prevent the killing of UN staff. "What is happening is totally unacceptable. These dramatic violations of international humanitarian law need to stop now," he added. Israel's ambassador to the UN, Danny Danon, slammed Guterres' criticism of Israel following the statement. UNRWA also said that last week, the school was being used as a polio vaccination centre. The attack on the school marks the fifth time Israel has targeted a shelter housing displaced people, sparking worldwide condemnation. According to UNRWA, the attack on Wednesday was "the highest death toll among our staff in a single incident" since the start of the war. Photos and videos of the school following the attack showed ambulances and people scrambling to rescue people from the school and take them to the Al-Aqsa hospital, as well as dozens of people inspecting the destruction to the school. Gaza’s Civil Defence said one of those killed was the daughter of one of their rescue workers, Momin Salmi. A statement from them said he had not seen his daughter Shadia for 10 months because she had stayed in north Gaza while his wife and eight children fled towards the south.

Israeli Sniper Details Killing Palestinians, Including Children, Waiting for Aid - An Israeli sniper from the IDF’s Nahal Brigade detailed in comments to Haaretz the killing of unarmed Palestinians, including children, who were attempting to get aid in Gaza.“It started about two months ago,” the soldier, who went by the pseudonym Benny, told the Israeli paper as part of a story focusing on the mental toll on IDF soldiers in Gaza. “Every day we have the same mission: to secure the humanitarian aid in the northern Gaza Strip.” The report said that Benny and his fellow soldiers began their day at 3:30 am when they set up sniper positions near where aid trucks arrive to unload their contents. He said that Gaza residents try to move forward to get a good spot in line, but often cross an invisible line set by the IDF. “A line that if they cross it, I can shoot them,” Benny said. “It’s like a game of cat and mouse. They try to come from a different direction every time, and I’m there with the sniper rifle, and the officers are yelling at me, ‘Take him down, take him down.’ I fire 50-60 bullets every day, I’ve stopped counting kills. I have no idea how many I’ve killed, a lot. Children.”Since the end of May, Gaza’s Health Ministry has recorded the killing of 2,497 aid seekers, which includes Palestinians killed near sites run by the US-backed Gaza Humanitarian Foundation (GHF) and people killed while attempting to reach aid trucks operated by the UN or other organizations. Another 18,294 Palestinians have been wounded while attempting to get food. Haaretz previously reported that IDF soldiers were ordered to fire on Palestinians attempting to reach GHF distribution sites to drive them away or disperse them, even though they posed no threat. Benny told Haaretz that if he didn’t want to shoot Palestinian civilians waiting for aid, he was forced to by commanders, and sometimes threatened.“The battalion commander would yell over the radio, ‘Why aren’t you taking them down. They are heading our way. This is dangerous,'” Benny said. “The sense is that we are being positioned in an impossible situation, and no one had prepared us for this. The officers do not care if children die, they also do not care what it does to my soul. To them, I am just another tool.”Another soldier, who went by the name Yoni, shared a story about killing two children in Beit Lahia, northern Gaza, after one soldier shouted that “terrorists” were approaching. “We go into a frenzy, and I get on the Negev [a machinegun] right away and start spraying, firing hundreds of bullets. We then charged forward, and I realized it was a mistake,” Yoni said.“I saw the bodies of two children, maybe 8 or 10 years old, I have no idea. There was blood everywhere, lots of signs of gunfire, I knew it was all on me, that I did this. I wanted to throw up. After a few minutes, the company commander arrived and said coldly, as if he wasn’t a human being, ‘They entered an extermination zone, it is their fault, this is what war is like,'” he added. Other Israeli soldiers have detailed killing unarmed Palestinian civilianswithout expressing any remorse. Israeli media outlets have reported extensively on the existence of kill zones in Gaza, where any Palestinian who crosses a line set by the IDF is deemed a “terrorist.”

Smotrich Calls Gaza a 'Real Estate Bonanza,' Says US and Israel Discussing Dividing the Land - Israeli Finance Minister Bezalel Smotrich on Wednesday described Gaza as a “real estate bonanza” and said that the US and Israel are in talks about dividing the land, the Israeli news site Ynet has reported.Smotrich referenced what he called a “business plan” that Ynet said was similar to a plan being circulated within the Trump administration. According to a recent report from The Washington Post, the plan involves removing the Palestinian population and placing Gaza under the control of a US-administered trusteeship for 10 years as it is turned into a tourist resort and advanced technology manufacturing hub. The plan is modeled on Trump’s calls for a US takeover of Gaza. The Post report said the removal of Palestinians from Gaza could be “temporary,” but Smotrich, Israeli Prime Minister Benjamin Netanyahu, and other Israeli officials have made clear that their vision for Gaza involves the ethnic cleansing, or permanent removal, of the Palestinian population.“This plan was built by the most professional people there are,” Smotrich said on Wednesday, adding that it’s currently on President Trump’s desk. “We are checking how this becomes a real estate bonanza—I’m not joking—and pays for itself,” he said.Smotrich said that he was personally involved in the negotiations with the US on dividing up the Palestinian territory. “I’ve begun negotiations with the Americans, and I’m saying this seriously, because we paid a lot of money for this war. We need to work out how we share percentages on the land. The demolition phase, the first stage of urban renewal, we’ve already done. Now we need to build,” he said.Smotrich’s comments come as Israel is conducting a major offensive in Gaza City with the goal of forcibly displacing the entire civilian population to southern Gaza and razing every building in the city to the ground. Earlier this year, Smotrich said that Gaza’s civilian population will soon be “concentrated” in southern Gaza and forced to leave the territory.“The Gazan citizens will be concentrated in the south. They will be totally despairing, understanding that there is no hope and nothing to look for in Gaza, and will be looking for relocation to begin a new life in other places,”Smotrich said in May.

Ben Gvir Calls for 'Luxury Neighborhood' for Israel Police To Be Built on Ruins of Gaza - Israeli National Security Minister Itamar Ben Gvir said on Monday that he wanted to build a “luxurious” neighborhood for Israeli police on the ruins of Gaza and repeated his calls for the settlement of Jews and the expulsion of Palestinians from the Strip, The Times of Israel has reported.“We will finish the mission, occupy Gaza,” Ben Gvir told a cheering crowd at the National Police Academy in Beit Shemesh, Israel. He said that once the occupation is complete, he wants to “establish a neighborhood of police officers” on Gaza’s Coast, which he said would include high-rise buildings.“The time has come to settle — Jewish settlement, the time has come to encourage voluntary emigration [of Gazans], the time has come to bring the death penalty for terrorists,” Ben Gvir added.“Voluntary migration” is a term that Ben Gvir, Israeli Prime Minister Benjamin Netanyahu, and other high-level Israeli officials use to discuss their ultimate goal of the ethnic cleansing of the Palestinians from Gaza. Ben Gvir has been one of the leading proponents of forcibly removing Palestinians from Gaza and establishing Jewish settlements. Last year, Ben Gvir, who is a West Bank settler, said he would be “very happy” to live in Gaza and said the removal of Palestinians from the territory was an “essential step” for future Israeli control and settlement of the Strip.

Explosive-Laden Robots Pour Into Gaza City: 'More Devastating Than Airstrikes' -Israeli Finance Minister Bezalel Smotrich said Wednesday, "We have poured a lot of money into this war. We have to see how we are dividing up the land in percentages" amid the ongoing Gaza military operation. Importantly, he further described "the demolition" of Gaza City as "the first stage in the city’s renewal, we have already done. Now we just need to build." But how does Israel's military plan to do this? First, as we've detailed before, the IDF is utilizing airstrikes involving powerful missiles hitting the bases of high-rise buildings in order to collapse them in their own footprint. But for other buildings and structures in tightly-packed urban areas, there's increased reliance on explosive-laden robots, or something that might look straight out of Terminator 2 and Skynet.Walla news outlet says "unprecedented" number of explosive-laden, remote-controlled vehicles are being prepared to invade Gaza City alongside the ground infantry troops. The Israeli military commonly refers to them as "suicide APCs" - and they are capable of being driven deep into urban environments before causing huge explosions.They've been able to cause 'mega-blasts' so powerful that in some instances they can be heard as far away as central Israel. Palestinians have described "earth-shaking" explosions, with one eyewitness recently telling Middle East Eye that "they are far more devastating than air strikes."Gaza's Government Media Office has said over one hundred of these explosive robots have been used in about the past month alone. Hundreds of residential units and small business buildings have been destroyed.Euro-Med Human Rights Monitor details the following on how large the explosives can get: Each of these robots is loaded with highly explosive materials, sometimes weighing up to seven tonnes, and is directed to detonate in Jabalia al-Balad and Jabalia al-Nazla north of Gaza City; the Zeitoun, al-Sabra, al-Shuja’iyya, and al-Tuffah neighbourhoods south and east of Gaza City; as well as the al-Saftawi and Abu Iskandar areas northwest of Gaza City. The unprecedented pace of destruction of residential neighborhoods in Gaza City using explosive-laden robots indicates Israel’s determination to wipe the city off the map. At the current rate, the rest of the city could be destroyed within two months, a timeline that may shorten further given the Israeli army’s massive firepower and the absence of any pressure to halt its crimes against Palestinians.Often it is outdated M113 armored personnel carriers that are turned into autonomous vehicles and strapped with the large explosives. The fact that they are modified personnel carriers means that they can carry a very large payload.

MbS meets Iran's Larijani, Pakistan’s Sharif amid Gaza war --Saudi Arabia this week hosted senior officials from Iran and Pakistan in meetings that highlight Riyadh’s growing role as a diplomatic hub in the region, as Israel’s war on Gaza and strikes beyond its borders fuel wider instability. Iran’s Ali Larijani, Secretary of the Supreme National Security Council, met Crown Prince Mohammed bin Salman (MbS) in Riyadh on Tuesday. According to Saudi Defence Minister Prince Khalid bin Salman, the talks "reviewed Saudi-Iranian relations. In addition to discussing several other issues and topics of common interest, we discussed developments in the regional situation and the efforts being made to achieve security and stability". Iranian media said the meetings covered security and economic cooperation. Larijani was quoted by Iran International as saying that "countries in the region feel that what Iran has long said - that an adventurous actor prevents stability - has now taken a more concrete shape", in an apparent reference to Israel. His comments came less than a week after an Israeli airstrike in Doha killed six people, an attack condemned by Saudi Arabia and other Arab states. On Wednesday, Pakistan’s Prime Minister Shehbaz Sharif arrived in Riyadh for a state visit. Arab News reported that the trip, at the invitation of MbS, aims to "review the entire gamut of bilateral relations and exchange views on regional and global developments of mutual interest". Sharif’s office described Saudi Arabia as a "key economic ally and strategic partner". The visit is expected to address trade, investment and labour ties at a time when Pakistan faces ongoing fiscal challenges. The back-to-back visits emphasise Saudi Arabia’s balancing strategy. Since shelving US-brokered normalisation talks with Israel in late 2023, Riyadh has sought to reduce tensions with Iran and deepen partnerships across the Muslim world while maintaining close ties with Washington. Regional analysts say Israeli operations - from Gaza to recent strikes in Lebanon and Qatar - have accelerated the pace of consultations. The presence of both Larijani and Sharif in Riyadh in the same week signals Saudi Arabia’s intent to position itself as a key interlocutor in the evolving regional order.

EU floats proposal to curb Israel trade ties over Gaza war -- The European Commission proposed a much-delayed plan aimed at pressuring Israel into halting its war on the Gaza Strip on Wednesday, but it could struggle to take effect due to remaining divisions among member states. On Wednesday, EU foreign policy chief Kaja Kallas urged the bloc’s 27 nations to adopt a proposal that will impact the European Union–Israel Association Agreement, while imposing sanctions on Israeli extremists Kallas urged the bloc’s member states to increase tariffs on Israeli goods and to sanction the most prominent extreme-right members of Prime Minister Benjamin Netanyahu’s cabinet: National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich – both of whom have advocated staunchly for the continuation of the Gaza war, and the expansion of illegal settlements in the West Bank.The sanctions would essentially freeze any of their assets in the EU and ban them from travelling to the bloc.The EU's top diplomat also proposed the imposition of sanctions on violent Israeli settlers, as well as 10 members of Hamas, who have yet to be named.The proposal would also see a halt on EU countries offering support to Israel, with the exception of support for civil society groups and Yad Vashem, the World Holocaust Remembrance Centre."We are proposing these measures not to punish Israel or the Israeli people, but to really try to pressure the Israeli government to change course and to end the human suffering in Gaza," Kallas said. "The war needs to end, the suffering must stop, and all hostages must be released."In a statement, the Commission added: "The proposals follow a review of Israel’s compliance with Article 2 of the Agreement, which found that actions taken by the Israeli government represent a breach of essential elements relating to respect for human rights and democratic principles. This entitles the EU to suspend the Agreement unilaterally". "Specifically, this breach refers to the rapidly deteriorating humanitarian situation in Gaza following the military intervention of Israel, the blockade of humanitarian aid, the intensifying of military operations and the decision of the Israeli authorities to advance the settlement plan in the so-called E1 area of the West Bank, which further undermines the two-state solution," it added.Ursula Von der Leyen, the president of the European Commission, who at first offered support to Israel during the onset of the war nearly two years ago, said the proposal to suspend trade and sanction Israeli extremists is a reflection of the bloc’s response to the "horrific events in Gaza and the recent developments in the West Bank".The EU, however, has been divided over its response to Israel’s military onslaught in Gaza over the past 23 months, which has killed close to 65,000 Palestinians.It has also faced mounting pressure from pro-Palestinian protesters across Europe over its response to the war, with demonstrations staged frequently, urging more action, rather than statements of condemnation only.Countries such as Spain and Ireland have urged economic sanctions, severing of ties and other consequences in answer to the war, but Germany has mostly remained by Israel’s side due to its Staatsräson policy, or reason of state, in response to the events of the Holocaust.The remaining divisions have raised questions on whether the proposal will be implemented or not. In June, however, the EU's diplomatic corps found that Israel had violated the human rights component of that agreement during its brutal military campaign in Gaza.If enough EU nations agree, however, tariffs amounting to about 230 million euros ($166 million) will be slapped on the 15.9 billion euros of Israeli goods exported to the EU, said Maros Sefcovic, the European Commission trade representative.The EU currently levies no tariffs on Israeli imports due to an Association Agreement.

EU proposes action on Israel trade and ministers over Gaza - The European Union on Wednesday proposed curbing trade ties with Israel and sanctioning ministers in its strongest action yet over the war in Gaza, though reluctance from key member states risks blocking adoption. The bloc's executive, however, said it would take immediate action by freezing some 20 million euros ($23.7 million) in support for Israel. Pressure has mounted on the 27-nation bloc to act against Israel over its devastating near two-year offensive in Gaza. "The horrific events taking place in Gaza on a daily basis must stop," EU chief Ursula von der Leyen said. "There needs to be an immediate ceasefire, unrestrained access for all humanitarian aid, and the release of all hostages held by Hamas." Under its new proposals, Brussels is pressing to suspend the parts of a cooperation deal that allow for reduced tariffs on goods coming from Israel. Officials said the measure would hit more than a third of Israel's exports to the EU, worth around six billion euros -- including agricultural produce such as dates and nuts. The commission also called for asset freezes and visa bans on far-right Israeli government ministers Itamar Ben Gvir and Bezalel Smotrich over their "extremist" rhetoric. Those measures -- initially floated by von der Leyen in a speech last week -- represent the firmest attempt by the EU chief to pressure Israel. "Today marks a critical turning point in holding Israel accountable," said Irish foreign minister Simon Harris. But opposition from states including Germany, Italy and Greece means the bloc will struggle to get the backing of enough EU countries to go through. That reluctance has already stalled a softer proposal to cut funding to Israeli tech firms, much to the ire of the EU countries demanding action. Von der Leyen's commission does have the power to freeze bilateral support. That step will not include funds going to help civil society groups and Israel's Yad Vashem Holocaust memorial. Israel called the move "morally and politically distorted". "Any action against Israel will receive an appropriate response, and we hope we will not have to use them," Israeli Foreign Minister Gideon Saar wrote on X. EU foreign policy chief Kaja Kallas insisted the aim was "not to punish Israel" but to try to improve the humanitarian situation in Gaza.