U.S. crude and distillate inventories rose while gasoline stocks fell last week, the Energy Information Administration said on Thursday. Crude inventories rose by 2.4 million barrels to 420.7 million barrels in the week ended August 29, the EIA said, compared with analysts' expectations in a Reuters poll for a 2 million-barrel draw. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.6 million barrels last week, the EIA said. Refinery crude runs fell by 11,000 barrels per day, [Read more]

Finland's President Alexander Stubb said President Donald Trump in a call with European leaders on Thursday suggested the U.S. and Europe should act together on further sanctions against Russia, and that sanctions on oil and gas were up for discussion. "Trump's approach was very much that we must act together on sanctions policy and now look for ways in particular to halt Russia's war machine by economic means," Stubb told Finnish media after the meeting. "In that case there are two [Read more]

U.S. power developers are planning to sharply boost natural gas and hydropower generation capacity and are cutting back on plans to add new solar and wind farms, according to recent data on the U.S. power capacity pipeline. As of mid-2025, U.S. power developers had just over 114,000 megawatts (MW) of natural gas capacity under construction or in so-called pre-construction, according to data from Global Energy Monitor (GEM). That capacity total is more than twice as large as what was in [Read more]

Oil prices slid on Thursday, extending a decline of more than 2% in the previous session, as investors and traders look ahead to a weekend meeting of OPEC+ where producers are expected to consider another increase in output targets. Brent crude fell 46 cents, or 0.7%, to $67.14 a barrel by 0416 GMT, while U.S. West Texas Intermediate crude fell 47 cents, or 0.7%, to $63.5 a barrel. Eight members of the Organization of the Petroleum Exporting Countries and allies - known together as OPEC+ - [Read more]

Russia and China have agreed on the route and supply volumes for the planned Power of Siberia 2 gas pipeline, Russian state-run RIA news agency reported on Thursday, citing Energy Minister Sergei Tsivilev. According to the signed memorandum, the pipeline will run via Mongolia and is expected to deliver around 50 billion cubic metres of gas annually. Russia and China gave their blessing to the vast pipeline project with a binding memorandum signed during Putin's visit to China, but little [Read more]