North America

Iraq temporarily suspended oil loadings at its Basra terminal on Thursday before they were resumed, according to four Iraqi sources in the oil and security industries. Sources added that the drone was not damaged or set ablaze and that it wasn't immediately apparent who launched it. The head of Iraq's state-owned oil marketing company SOMO said that the incident did not involve a direct assault on terminals or vessels. It is not targeting Basra Oil Terminal. It is not targeting Basra Oil Terminal. Ali Nazar stated that loading is done at the normal rate, depending on vessel availability. A spokesperson...

India's Customs Authorities have joined the Health Ministry in a fight against Adani Group for the sale of nicotine sachets at airports. They claim that duty-free shops are only tax-advantageous and not immune to other regulations. The sale of nicotine pouches in duty-free shops at the Mumbai airport owned by billionaire Gautam Adani was found to be illegal during a March inspection. His company is now appealing this decision at the Mumbai High Court. The customs department stated that the concept of "goods being outside customs borders" for taxation reasons "doesn't grant immunity from regulatory control," in a document submitted...

Iran warned that if U.S. strikes continue, its campaign to choke global energy markets may expand from the Strait-of-Hormuz?to the crucial Red Sea route. This threat is dependent on the Houthi allies of Iran in Yemen. Here's why it matters, and what that means for the Iran War and the global energy crises: How big is the risk to global energy markets? The Bab el-Mandeb strait, the gateway to the Red Sea, would be closed and open a whole new front in the conflict between Iran and the U.S. The Red Sea is now an important alternative outlet for Gulf...

According to a memo obtained by the media, Sultan Ahmed Bin Sulayem will be taking over as the new CEO of?Malaysian company MMC Port Holdings. The group chief executive is leaving his post immediately. Emirati bin Sulayem is now the executive chairman of MMC. He resigned in February from Dubai's DP World after the Department of Justice released emails between Jeffrey Epstein and the company. Bin Sulayem did not comment publicly on the emails he exchanged with Epstein who died in prison in 2019 while waiting to be tried for'sex trafficking' charges. Bin Sulayem was not immediately available. The MMC...

Shipping data revealed that the number of tankers traversing the Strait of Hormuz dropped to its lowest level in two months in the last day, after renewed strikes between Iran and the U.S.?and attacks against vessels raised safety concerns. Shipping industry sources say that vessels are increasingly turning off their public AIS?transponders. This makes it difficult to count the total number of ships on the waterway. According to Kpler's analysis, based on the data available, oil and gas tanker traffic has fallen to its lowest levels since May 25. In a recent report, ship broker Gibson stated that the world...

Drones are cheap, mass-produced and have revolutionized modern warfare. They expose critical energy infrastructure to be the Achilles heel of modern economies. Unmanned aircraft have proven to be able to evade air defences on the battlefields in Ukraine, Russia, and?the Middle East. This has made oil refineries and power stations as well as export terminals, pipelines, and even power plants, prime targets. The implications for the energy sector are huge. Drones that cost a few hundred dollars or a few thousand dollars each can threaten facilities that have taken decades to build and billions to invest in. This shifts the...

Vinci Airports is a subsidiary of France’s VINCI Group. It expects the growth of air traffic to slow down through the end of the year, as high jet fuel prices, and geopolitical tensions, weigh on the aviation sector. However, it does not see major airline capacity reductions and is still open for expansion in Mexico and other places. Vinci Airports CEO Remi Mamon de Longevialle said during a trip to Mexico that there was "new volatility" in the markets, citing tensions between the Middle East and Asia. "Traffic may grow a bit slower than last year." Maumon de Longevialle, the...

Palm Beach Airport in Florida was officially renamed after Donald Trump on Thursday. It is the latest of a number of institutions, buildings and government programs to adopt the Republican identity. The renaming 'Palm Beach International Airport' to President Donald J. Trump International Airport is a public nod to the Republican Leaders support for his adopted state, Florida, which houses his lavish Mar-a-Lago Resort. Eric Trump, Trump's son, said in an interview with Fox News that "I don’t think there's anyone more synonymous with Palm Beach as Donald Trump" in Florida. Since Trump was elected to a second term in...

Palm Beach Airport in Florida renamed after President Donald Trump, the latest of a number of institutions, government programs and warships that have adopted the Republican identity. The renaming of Palm Beach International Airport as President Donald J. Trump International Airport is a public nod to the Republican Leader's popularity in Florida, where his lavish Mar-a-Lago Resort is located. Eric Trump, Trump's son, said in an exclusive interview with Fox News that "I don't believe there's anyone more synonymous with Palm Beach in Florida than Donald Trump." Since Trump?took over the White House for a second term last year, his...

The head of the National Highway Traffic Safety Administration in the United States said that companies offering self-driving cars must address a "clear trend" of driverless cars interfering with first responders and law enforcement. Jonathan Morrison, the head of the U.S. Vehicle Regulatory Agency, wrote in a letter addressed to the industry, that NHTSA had documented numerous instances where AVs drove into emergency scenes and other incidents, when they "blocked ambulances and firefighter's paths, or failed to recognize basic safety conditions such as flashing lights and flares, smoke and?fire and traffic cones." In a letter to the industry, Jonathan Morrison,...

Insurance industry sources reported that some war underwriters advised shipping companies to pause voyages across the Strait of Hormuz, while others were reviewing their policies after renewed vessel attacks threatened a return to war between Iran and the United States. Washington revoked a license allowing Iran oil sales and launched overnight strikes against Iranian targets after the attacks on Tuesday on three tankers on the crucial waterway. Donald Trump announced on Wednesday, that the interim agreement to end "the war with Iran" was "over". U.S. troops were expected to launch new attacks on Wednesday night in response to Iranian attacks...

Union Pacific and Norfolk Southern have told an U.S. government agency that they are willing to sell?stakes? in smaller railroads, as part of the $85 billion proposed?merger. The deal will create the first U.S. coast to coast?freight railroad?operator. Union Pacific and Norfolk Southern have said that they will not be able to control the Terminal Railroad Association of St. Louis, Kansas City Terminal Railway or TTX Company following the merger. The railroads, which are owned jointly with other major carriers, are operated by independent management. Union Pacific and Norfolk Southern have said that they will divest their ownership in these...

Three sources have confirmed that Saudi Arabia's ROSHN group is looking for investors to help finance its Aramco Stadium which will host the FIFA World Cup in 2034. The state-backed developer wants to 'free up capital' so it can deliver projects as part of the Kingdom's economic transformation plan. Saudi Arabia is increasingly relying on outside capital for funding projects in tourism, sports, and logistics to reduce the economy's dependence on oil and gas revenues. Two sources who declined to be identified because the matter was not public said that JPMorgan had hired ROSHN to manage the equity raising process....

Freeport LNG’s export -plant in Texas is on track to 'take in more natural gas Thursday' after all three liquefaction -trains closed on?Wednesday.?According to a report from the company and data provided by financial firm LSEG. Freeport's liquefied gas export plant is closely watched around the globe because its shutdown and restart caused massive price swings on global gas markets. U.S. gas costs usually fall when Freeport closes because demand for fuel drops. However, they typically increase as liquefaction trains restart at Freeport and demand increases. The return of Freeport is partly responsible for the increase in U.S. gas futures....

Port of Los Angeles, the busiest U.S. seaport for container shipping, said on Wednesday that it had set a record for June cargo as shippers, from retailers to data center builders, rushed to import goods in order to avoid increased fuel costs and U.S. tariffs. Executive director Gene Seroka stated that the Southern California port handled 1,002,734 TEUs last month. This is 12% more than June 2025. It marks the "third time" the 118 year old trade gateway has exceeded the 1,000,000 TEU mark. Port data shows that June imports increased by 13%, to?530.558, and exports rose 0.2%, to 126.365....

The largest U.S. grid operators PJM issued a series warnings on Wednesday as temperatures soared, and congestion in transmission lines increased the spot price of wholesale electricity. PJM warns of low voltages and heavy loads on transmission lines. PJM data showed congestion on transmission lines, especially around Northern Virginia, which is home to the world's largest concentration of data?centers. According to the latest results of its annual capacity auction, PJM announced on Tuesday that it would cost more than $16 billion to ensure 'enough electricity supply to cover the most-demand days in the grid,' according to the company's report. PJM...

In the last two weeks, Ukrainian forces have intensified their attacks on Russia's infrastructure for energy. Fuel shortages are worsened by the drone attacks in Russia. People have reported high prices and long lines at fuel stations in most regions. Here is a brief summary of recent attacks, starting with the latest. SALAVAT According to industry sources, the Salavat Petrochemical Complex, located in Bashkortostan's Urals region, stopped operations on July 14th following an attack by a Ukrainian drone. A fire broke at the Afipsky refinery, in southern Krasnodar Region of Russia. The cause was drone debris that fell from the...

A State Department official stated on Tuesday that the United States is supporting Iraq and Syria in their efforts to revive an oil pipeline between the two countries. This could reduce Iran's ability to block oil through Strait of Hormuz. The U.S. is expecting American companies to be involved in the construction of the Kirkuk-Baniyas Pipeline, which has been largely out-of-service since it was damaged during the 2003 U.S. led invasion?of Iraq. The pipeline will run from the Iraqi oilfields in Kirkuk all the way to 'Syria’s western coast. This is just one of several attempts by oil producers to...

PJM Interconnection held its 'latest annual capacity sale on Tuesday,' with power prices nearing record highs of $325 per'megawatt-day. This is the maximum price allowed by a temporary cap set by the U.S. largest grid operator in order to reduce rising bills for businesses and households. The auction is aimed at securing sufficient electricity to cover high-demand days in the PJM grid, which covers 13 states of the Mid-Atlantic region and Midwest. Prices have risen in recent years largely because demand from data centres has outstripped supply. PJM failed to meet its reliability requirements for the second time in a...

The national power grid of Cuba collapsed Tuesday, according to the energy ministry. This is the third major blackout in nine days on the island of about 10,000,000 people. The ministry announced on social media that "there has been a complete disconnection of electrical system." A U.S. oil blockade is causing frequent power outages on the island, which has an already aging energy infrastructure. Donald Trump, the U.S. president, imposed a blockade on the Caribbean island following Washington's ouster of Venezuelan President Nicolas Maduro?on?January 3rd. Venezuela was Cuba's main fuel supplier. U.S.-led pressure led Mexico to halt oil deliveries to...

The largest U.S. Grid Operator, PJM Interconnection, has set a temporary price limit to help curb the rising costs for consumers and businesses. The auction prices, which are aimed at securing sufficient electricity to cover the most-demanding days on the PJM Grid covering 13 states of the Mid-Atlantic region and Midwest, have soared in recent years to record highs largely 'because the demand from data centres has outstripped the supply. Since 2024, the so-called "capacity prices" determined by the auction jumped more than 1,000% due to this imbalance in supply and demand. This has increased energy bills for people living...

The $6 billion transmission system that was designed to bring Canadian hydropower to New York City has been shut down a second time in the last month. This disrupted a clean energy project that was meant to reduce New York City's dependence on dirty fossil fuel generators. The 1,250 megawatt Champlain Hudson Power Express transmission line (CHPE) can provide up to 20% New York City electricity. Hydro-Quebec announced on Monday that the transmission line is offline because of a cable problem. Hydro-Quebec and private-equity company Blackstone Inc. developed the project. New York ISO's data, which controls the flow of electricity...

The U.S. House of Representatives will vote this week on a measure to extend daylight saving time year-round. Another group of legislators wants standard 'time to be permanent. The House Rules Committee will meet at 4:00 p.m. Monday, the House Rules Committee will meet to determine if any amendments are needed before the House takes up the measure this week. The House Energy and Commerce Committee approved the Sunshine Protection Act 48-1 on May 1. In March 2022, the U.S. Senate voted to permanently extend?daylight savings time but the House did not take up the issue due to opposition. Hawaii...

The Oil Sands Alliance, the Alberta government and the federal government of Canada announced on Monday that they had reached an agreement for the 'Pathways carbon capture and storage 'Project. This was a condition set by the government to'move forward with the new West Coast oil pipe. The Oil Sands Alliance said that the Pathways Project, when operational, will be able to transport and safely store approximately 6 million metric tonnes of CO2 per year by the mid-2030s. Early July, Canada announced plans to build a pipeline from Alberta to the Pacific Coast. This would allow the fourth largest oil...