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Grid operator: US Midwest to witness record number of new plants in the next five years
A record number of mostly gas-fired plants is expected to be?connected to the?U.S. Midwest grid will be able to meet the region's increasing electricity demand over the next five-year period, according survey results released on Wednesday by the regional grid operator. The Midwest is experiencing a surge in power demand due to the growth of data centers and the electrifications of buildings and transport. According to a survey conducted by the Midwest Independent System Operator (MISO) and Organization of MISO States, the growth of?the middle America region's load is expected to be between 3.1% and 5% over the next five years. The survey found that utilities in the MISO network expect to add 15 gigawatts of new power generation capacity each year over the next five years. * "The results of the survey reflect the'scale of the challenges facing the region, and the progress made in addressing them," said Michael Carrigan. He is the President of the Organization of MISO States as well as a Commissioner at the Illinois Commerce Commission. Reporting by Laila KEARNEY in New York
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The US has told Europe and Canada to increase NATO air and Naval Forces
A top U.S. General said that the U.S. is expecting European NATO allies to increase their contribution to the alliance's defense plans in terms of the number of manned and non-manned aircraft, and ships. This comes as Washington steps back from these areas. U.S. Air Force general Alexus Grynkewich made the statement after the Trump administration decided to reduce the number of U.S. military assets available to NATO during a crisis. Donald Trump, the president of the United States, has repeatedly criticised NATO. He told European NATO members that they would?have to assume primary responsibility for conventional defence on the continent. Last month, the U.S. informed allies of its decision of reducing its?contribution under a framework called NATO Force Model. This includes a pool that can be activated in a crisis. It did not disclose any specifics. Grynkewich’s statement was released after a NATO military planners meeting on Wednesday. It was the first indication to the public of which areas the U.S. plans to cut first, and where they expect allies to step up. He said that Canada and European allies "can step up in these areas now and in the short term" as the United States reduces the forces they'source' from the NATO Force Model and redirects them elsewhere. Grynkewich stated in his written statement that there has been a unhealthy codependence between the NATO Force Model and U.S. Forces. "President Donald Trump, Secretary of Defense Pete Hegseth, and others have made it clear that the NATO Force Model needs to be changed, and will change. It is necessary because of the potential for simultaneous conflict across multiple theaters. NATO DOES NOT EXPECT CHANGES THAT LEAD TO DEFENCE GAPS NATO is facing unprecedented pressure, and some European countries are worried that Washington could withdraw completely. The U.S.'s decision to reduce the number of forces available during wartime would only increase these concerns. U.S. Army Col. Martin O'Donnell is a spokesperson for NATO's Military Headquarters. He said that the areas mentioned by Grynkewich are "where allies have or will soon have sufficient capabilities". This means there should be no gaps in defence. He added that "Nations only need to assign to NATO the capabilities they have." O'Donnell refused to provide any details on the date Grynkewich expects allied nations to replace U.S. capabilities. According to an article published last week in the German newspaper Spiegel, the number of U.S. combat jets that are available to NATO will drop by a third. The U.S. also plans to make less destroyers, as well as no U.S. subs, available for the crisis pool. The report also stated that Europe would be required to supply its own drones for reconnaissance, and the U.S. planned to drastically reduce the number of armed models. Reporting by Sabine Siebold, editing by Bart Meijer & Paul Simao
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Lebanon audits MEA Safety as Pilot Groups Voice Conflict Concerns
Lebanon's aviation regulator?performed a safety audit on Middle East Airlines after pilot groups expressed concerns that crews are being asked to fly near airstrikes, and penalized for reporting safety incidents. Letters seen by show. The audit focuses on the Beirut-based flag airline MEA which has kept Lebanon in touch through war, financial collapse and even when many foreign airlines have avoided Middle East airspace due to'missile and drone risk' since the Iran War began on February 28, In a statement released?on? Wednesday, the MEA stated that it would continue to fly "after obtaining international guarantees" that the airport will remain outside of the conflict zone. MEA's fleet of 20 planes, which operates in the Middle East and Europe, as well as West Africa, was praised by Lebanese authorities for its continued flights and contribution to an economy more and more dependent on tourism and remittances. The audit that took place over the past two weeks is "an annual process that has been planned for years and does not relate to the letter mentioned above", it said, adding that MEA hadn't had an accident in 60 years. MEA had earlier stated that it has an excellent safety record and that all flights conducted during hostilities are based on risk assessment developed with the Lebanese Civil Aviation Authority and Lebanon's Government. Multiple Israeli airstrikes landing near Lebanon's sole commercial airport since 2024 has raised concerns for the International Federation of Air Line Pilots' Associations. (IFALPA), a federation of global pilot unions. This is due to the history of civilian planes being shot down in or near conflict zones. Israeli strikes against Lebanon have increased this year as the conflict between Iran-backed Hezbollah and Israel has intensified. While some people may consider flying civilian aircraft with passengers through high-risk conflict zones in wartime heroic, we find this to be an unconscionable risk," IFALPA president Ron Hay wrote on May 12 in a letter to Lebanon's Central Bank, which owns a majority stake in MEA. The Banque du Liban referred questions to MEA. The airline said that the sons of MEA's chairman and LCAA's chairman were both MEA captains and had flown throughout the period. REGULATOR CONDUCTS MEA SECURITY AUDIT Mohammed Aziz (LCAA's head and air crash investigator) told IFALPA, in a letter dated May 15, that his team was going to conduct an aviation audit of MEA. They would also "engage in a dialog?with MEA in order to discuss your concerns stated in your letter." MEA stated that the LCAA's oversight activity on MEA between May 18 and June 1 confirmed compliance by the carrier with "regulatory requirements" as well as operational safety. Aziz said that a meeting was held with MEA on Monday but that the LCAA was still in process. "We were in the middle of mediating between the pilots" and MEA. MEA released a statement on Wednesday saying that the audit results "refuted", but did not provide any further details. MEA pilots said that they had financial incentives to fly because per-flight payments constituted a large part of their salaries. However, these have been cut due to the economic collapse in Lebanon that began in 2019. IFALPA and other aviator organizations flagged cases in which pilots who reported unintentional mistakes to improve safety were punished by being sent to "training", which meant they lost out on their per-flight payment. Hay told me by phone that "we know for sure" that pilots had spoken up, and actions were taken against them. MEA stated that IFALPA’s allegations were unfounded, and training assignments were in accordance with regulatory requirements. MEA stated in a public statement that, of the 32,000 flight it has operated since 2025's beginning, four of them had to be reviewed and five pilots sent on additional training flights. The MEA said that no training flights of this kind were conducted in 2026. Pilots Contact Partner Airlines in the U.S. and Europe The safety concerns led pilot groups contact SkyTeam, an airline alliance that includes MEA, Air France, Delta Air Lines, and other carriers. Dara van Langen, the chair of the SkyTeam Pilots Association said in an interview that if you are putting your passengers on a plane operated by a partner airline, you will want to make sure it is safe. The U.S. Federal Aviation Administration and the European Union Aviation Safety Agency both require that airlines within their jurisdiction audit codeshare partners from other countries to ensure similar safety. Air France, who has a codeshare deal with MEA, says it audits its codeshare partners regularly. SkyTeam, Delta and other interline carriers with less comprehensive agreements said that they were aware of the pilots' concerns and were closely monitoring the situation. MEA PAYS WORKERS IN CIVIL AVIATION IFALPA also expressed concern that MEA paid LCAA employees overseeing aviation safety. A spreadsheet containing financial assistance received by LCAA for the month of November was reviewed. It showed that MEA paid dozens of LCAA workers, including three 'aviation safety workers. If your airline pays (in part) for the oversight of its airline, then you don't have to say anything. Hay, IFALPA spokesperson said. MEA stated that it provided financial assistance in coordination with government to ensure Lebanon’s aviation infrastructure was functional after the collapse of its currency. It said that the pay of air traffic controllers was reduced by over 90%, to less than $100 per month. The carrier claimed that its support of the LCAA did not impact the "independence or authority" of the agency, and Aziz and other leaders were not paid. (Reporting from Allison Lampert, Montreal; Additional reporting provided by Maya Gebeily, Beirut; Editing done by Jamie Freed and Alexander Smith).
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Sources say that Druzhba oil exported to Hungary and Slovakia returned to normal levels in the month of May
Three industry sources said that in May, Russia's oil exports via the Druzhba pipeline to Hungary and Slovakia were restored to normal levels at 165,000?barrels?per day. After a long outage, Slovakia and Hungary began receiving crude oil through the pipeline on April 23, following a month-long interruption. The first month following the resumption of the oil route is May. Sources said that Hungary and Slovakia only received 55,000 bpd during April when the route was operational for just a week. Although the flow of oil through the pipeline is now "unrestricted", May deliveries were lower than the levels seen before the suspension (200, 000 to 235,000 bpd), as states took measures to diversify their imported products. Hungarian oil firm MOL, which has?refineries both in Hungary and Slovakia, said it had purchased 10 different types of crude this year, in line with its diversified acquisition strategy, which it intends to continue. It said that "both the eastern crude oil pipeline and the southern crude oil pipeline are currently operating without interruption, and we are looking at additional pipeline connections in the future, including the possibility of using a route through Odessa." Ukraine blamed a Russian airstrike for the damage that caused the Druzhba Pipeline to be halted. Ukraine completed repairs on?the pipeline? in April. Russia supplies oil to Hungary via Druzhba’s southern leg, under an exemption from the EU sanctions imposed over Moscow’s war in Ukraine. Since?May, Kazakhstan's oil has been transiting via the northern Druzhba to Germany due to a lack of?technical capabilities?, according to Russia. Ukraine's drones have repeatedly attacked the Russian?Transneft network this year, as Kyiv intensifies its attacks on Moscow's energy grid.
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Portugal General Strike over Labour Reform halts Trains, Flights, and Shuts Schools
On Wednesday, the second 'general strike' in six months caused a disruption of services across Portugal. Trains were stopped, hundreds of flights cancelled, and schools closed as unions protested government labour reform plans. Portugal's centre-right minority government will likely pass a bill, with the support of the extreme-right Chega Party, proposing changes to more than 100 articles in the labour code. The aim is to "boost productivity" and "spur growth", after talks with the unions failed. Tiago Oliveira is the head of Portugal’s largest umbrella federation CGTP. He called for the general strike. According to him, the reform will worsen the conditions of workers by enforcing precarious employment and reducing parental and strike protections. Rodrigo Azevedo is a 30-year old bank employee. He said that the reform would force young workers to be "stuck" on precarious contracts throughout their lives, forcing them to work up to 50 hours per week without any extra pay, instead of 'the standard 40-hours'. It will also make it easier to replace them with outsourced labour who are cheaper. He said that the labor package was a threat to not only the future of our young workers but also to us. Lisbon's Metro shut down. The state-owned railway CP has suspended all long-distance and regional trains. Staff shortages caused schools to close across the country, and hospitals delayed most appointments and surgeries following a nurses' walkout. TAP, the Portuguese flag carrier, said that it would only operate 79 flights out of 300+ daily flights. Iberia expects a reduction of between 50% and 75%. The Labour Minister Maria do Rosario Ramalho stated that the participation of private sector workers, who are outnumbered by public sector employees five to one and to whom this reform is directed, was marginal. She told reporters that "the vast majority of workers continue to work and the economy is not stagnant." The reform aims to make it easier for companies to dismiss workers without cause, deny them a re-employment in the event of an illegal dismissal, provided they pay compensation and lift limits on outsourcing. The first shutdown of the year was a strike that took place in December, following protests against austerity measures in 2013. Reporting by Sergio Goncalves, Miguel Pereira and Charlie Devereux; editing by Sharon Singleton, Ros Russell and Charlie Devereux
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Bosnia seeks new peace envoy after sudden Schmidt exit
On Wednesday, the?body overseeing Bosnia’s peace process will meet to select a new envoy. Schmidt, appointed in 2021, resigned?unexpectedly?in May from the Office of High Representative. This office monitors implementation of U.S.-backed Dayton peace accords that ended Bosnia’s war in 1995. Schmidt, who was appointed to the Office of the high Representative in 2021 and resigned unexpectedly in May, said he quit under "enormous" U.S. pressure. It is a difficult time for Bosnia as it remains deeply divided on ethnic lines. Washington has been a strong supporter of the country, but in its May report on Western Balkans, the U.S. State Department signaled a shift towards a more commercial approach, stressing the importance of "mutually-beneficial partnerships", which include energy projects. Kurt Bassuener is the co-founder of the Democratization Policy Council and a senior associate. The U.S. State Department and the U.S. Embassy in Sarajevo did not immediately comment. The Peace Implementation Council is scheduled to meet on Thursday and Wednesday. They will decide who will be the successor. This person will also have a say in the policies of Bosnia. According to Istraga.ba, a portal that investigates news and analysis, the frontrunners are veteran Italian diplomat Antonio Zanardi Landi as well as French diplomat Rene Troccaz. "ENORMOUS AND SURPRISING?PRESSURE" Schmidt's tenure in office was plagued by tensions with Bosnian Serb leaders who questioned his legitimacy as he opposed the secession of their region from Bosnia and unification with Serbia. He first said he would step down due to personal reasons. But in late May, he revealed that the U.S. had put "enormous pressure" on him to leave sooner than planned. Many diplomats and analysts have confirmed that the U.S. has been putting pressure on him for some time. Unnamed U.S. analysts linked the pressure on Schmidt to lobbyists who are close to Donald Trump. They helped lift U.S. Sanctions against Bosnian Serb Nationalist Leader Milorad Dodik in October last year and also reportedly lobbied to have Schmidt leave. One EU ambassador who spoke under condition of anonymity said Schmidt was seen as being "backed" by the administration of former U.S. president Joe Biden. The ambassador stated that "they see him as a remnant of the old regime, and wanted to rid him." Since its establishment, the role of the Office of the high representative has grown. It can now impose laws and remove certain officials. However, the U.S. prefers to have a more restricted mandate. The State Department stated in its?May report that "the U.S. led nation-building period has passed." Washington's policy in the area is about "stability" and "mutually beneficial partnerships." This includes U.S. support for a 'gas pipeline that will carry U.S. gas from an LNG facility in Croatia to Bosnia. A U.S. firm led by Jesse Binnall - a former Trump attorney - and Joseph Flynn – the brother of Trump’s former national security advisor Michael Flynn - will lead the project.
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EU diplomatic arm suggests naval mission play a 'primary' role in clearing Strait of Hormuz Mines
According to a document seen by the. In a letter dated 26 May and sent to all member states, the European External Action Service stated that "the situation demands the Union provide a meaningful" contribution to a coalition headed by France and Britain. "The coalition will be actualised as soon as conditions permit and are separated from "the belligerents". It would take unanimity to change the Aspides mission mandate, and it is unclear whether the 27 EU member states would support such a move. The mission was created in 2024 in order to protect ships from attacks by Yemen’s Houthi rebels in the Red Sea. "IMMENSE" CONSEQUENCES FROM DE FACTO STRAIT CLOSURE Around a fifth of world oil and gas supplies travel through the Strait of Hormuz. This key waterway was effectively closed when the U.S., Israel and other countries launched attacks on Iran. The hostilities erupted again on Wednesday, as Iranian attacks in Kuwait caused damage to its airport and injured many while the U.S. military conducted strikes near the Strait of Hormuz. Diplomacy was unable to stop the war. In a note, the EU diplomatic branch wrote that the de facto closing of the Strait of Hormuz had "immense consequences for both the region and Europe." Iran was selectively allowing the passage of ships. France and Britain are leading the way in putting together countries to ensure safe transit of the Strait after the situation stabilizes or the conflict is resolved. Uncertainty exists as to whether Iran has placed mines on the waterway. REINFORCING CAPACITIES The EU diplomatic service stated that a European response would "showcase?EU-wide responsibility and ownership in addressing a situation affecting all Member States", and "visa-vis 'NATO Allies'". Aspides would allow all Member States "to financially support those who are willing and able, through the Operation's Common Costs," they wrote. (Reporting by Lili Bayer; Editing by Andrew Gray, John Irish, Alexandra Hudson)
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Ships stuck in Hormuz cause a strain on the shipping industry
Even if the U.S. Even if the?U.S. The renewed hostilities of the three-month conflict test a fragile ceasefire, while about 20,000 sailors and hundreds of ships remain trapped in the area with Hormuz mostly closed. V.Group manages 800 vessels and has 13 stuck in the Gulf, half of which are tankers. Rene Kofod Olsen, the group CEO of one of the top ship management specialists in the world, confirmed this. He said this during the Posidonia Shipping Week in Athens. "But, you still have kinetic activity." Kofold-Olsen was referring to missile or drone strikes. He said that for traffic to return at pre-war levels when 125 ships passed through Hormuz on average daily, "ship operators" would need a solid assurance of safe passage. The international community should be involved in this. Kofod Olsen stated, "I do not believe that global shipping will be able to pass through the Strait of Hormuz in a meaningful way before these things are guaranteed." The shipping executives who met in Athens stated that the tensions were increasing as the conflict intensified. While crews in Gulf received supplies, it was still possible to rotate the teams within the region. Alex Gregg Smith, President for Marine and Offshore at Bureau Veritas' top ship safety certifier, said that "Ship Owners are forced to operate within irregular frameworks which can be difficult for the industry and difficult for insurers." It puts pressure on the owners' operations." Dwain HUTCHINSON, the managing director of the Bahamas' maritime registry, said that there were 14 "Bahamas"-flagged vessels with more than 900 "seafarers" on board in the Gulf. This included smaller offshore ships which normally operate in the area. The flag registry didn't restrict ships from entering the region, even though their safety and well-being was the number one priority. He said: "We believe that is an owner's decision, and we hope they will review and weigh the risks and make a balanced decision to operate in the area." Evangelos Marinakis said that his group was "lucky enough" to not have any vessels in the Gulf on the day the conflict began. "In the event of a tragedy, we would not be able take this risk," he said at the TradeWinds Ship Owners' Forum in Athens. (Reporting and editing by Tomaszjanowski)
The deceptive calm of the oil market will not last.
Physical oil is at the center of the storm, a calm that deceives after the initial panic to deal with the largest oil crisis in human history. The Iran war blow has been softened by the dramatic drop in "China's" purchases and a rise in U.S. Exports. This delicate balance could not last long, as the peak season for demand is approaching. The crude oil market is surprising calm, despite the sudden loss of 20 million barrels of Middle Eastern oil per day, or about a fifth of global supplies, after Iran closed the Strait of Hormuz shortly after the start of U.S. and Israeli airstrikes in February.
This is because a large part of the world still has to adjust in a complicated, fragile way to ensure adequate supplies. Exports from the U.S., and other producers in the Atlantic Basin have increased dramatically. This has helped to fill a large part of Middle Eastern demand. China deliberately reduced its purchases, and other countries have been reducing their inventories in a rapid manner. This unexpected availability has eased the pressure on prices. Physical Brent crude oil is currently trading at around $110 per barrel, well below the peak of its crisis. This balancing act, however, is not sustainable. The oil market could enter a more dangerous phase as the closure of Hormuz is likely to continue for several weeks, despite the sputtering efforts to achieve peace.
SUPPLY CRUMBLING The initial reaction to the Middle East supply crunch was to cut consumption in the hardest hit regions. Asia, where 60% of oil was sourced from the Gulf until February, took the brunt. Refiners closed down units and governments implemented energy-saving measures. Emergency reserves were also released in large quantities. According to Kpler Shipping Data, Asian crude imports in April dropped to only 18.7 million barrels per day, a sharp drop from the average of 25 million barrels per day in 2025. Refiners were forced to find alternative feedstock from further afield. They turned primarily to Latin America and the U.S. This shift has "fundamentally" reshaped the global trade flows. According to Kpler's estimates, U.S. oil exports by sea reached a new record of 8.55 million barrels per day in April, and will likely surpass 10 million in May. This cements America's position as the largest oil and natural gas producer in the world. The wave of emergency purchases drove up physical oil prices in March and April. Crude oil from the Atlantic Basin reached a record price of $150 per barrel, as refiners competed to secure limited supplies.
Due to the long distances involved with shipping oil from Asia to these regions, there is a delay of four to eight weeks in delivery. This means that replacement barrels are only now arriving. The dramatic reduction in global crude stocks and this lag in shipping oil from these regions to Asia are the main reasons why the prices on the physical market have dropped in recent weeks.
CHINA FACTOR China is another key player that has contributed to easing the global scramble. After the Iran War broke out, China, the world's biggest oil importer, drastically reduced its crude purchases. Kpler reports that from a near record of 11.5 millions bpd seaborne imports in February, shipments dropped to 8 million in April, and will drop even further to 6.9 million in May. This is the lowest level for nearly a decade.
In May, Chinese refiners largely avoided the market. They refused crude from Saudi Arabia and resold refined products from West Africa. This behaviour indicates that China's oil exports will continue to be low well into the summer.
Beijing's vast oil reserves, which were estimated at 1.3 billion barrels in February, are roughly equivalent to four months worth of imports.
China does not provide detailed information on its oil reserves, which makes it difficult to determine how aggressively the country has used its reserves. The International Energy Agency reported that China's above ground crude stock fell by 7,000,000 barrels in march, marking the first drop in six months. The Paris-based agency has no knowledge of oil stored in underground caverns.
China is the only country that will see a 27% increase in Asian imports between April and may, to 14 million bpd. ?U.S. Kpler predicts that exports will nearly double, from 1.1m bpd to 2m bpd by May.
DANGER ZONE
The relative calm of today should not be misinterpreted as a new equilibrium. The world's oil stocks are rapidly depleting as the Hormuz Crisis enters its 12th week.
According to the IEA, global inventories have dropped by 246 millions barrels, which is equivalent to 4 million bpd.
Refiners will also be looking to increase their supply in the near future, ahead of the summer season, which is a crucial time for fuel consumption, especially in Northern Hemisphere. Politics could impede the U.S.'s export boom. Gasoline prices could rise sharply if the U.S. inventories shrink and summer demand increases. Although the Trump administration has denied any claims of oil export restrictions, this could change if American consumers start to feel the pinch.
Overall, the market response to the 'Hormuz shock' - from trading and finance to shipping and storage - is testament to the?flexibility and?depth? of the global oil systems. The shock absorbers thin out with every passing day that Hormuz is blocked. The economic impact of this conflict will become more evident as summer approaches. Ron Bousso is a columnist at.
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(source: Reuters)