Top White House advisers, including Vice President JD Vance and Secretary of State Marco Rubio, have privately warned President Donald Trump that the conflict with Iran could extend through the remainder of his presidency, the Wall Street Journal reported on Wednesday, citing U.S. officials. The White House did not immediately respond to a Reuters request for comment. The advisers told Trump in private discussions in the Oval Office and the Situation Room that Tehran could continue to [Read more]

Asia's crude oil industry has a good idea of how to end the current crisis created by the Iran conflict. But they also know their wish is unlikely to be granted and they are hunkering down for an extended disruption to supplies from the Middle East. Across thousands of conversations at this week's APPEC conference in Singapore, the big issue was how to safely and sustainably reopen the Strait of Hormuz. The answer was remarkably consistent. U.S. President Donald Trump needs to back down [Read more]

President Donald Trump said he expected the war with Iran to end after the November U.S. midterm elections and threatened again to attack a site associated with the Islamic Republic's nuclear programme after the two sides launched their biggest wave of attacks on shipping since the start of the six-month-old war. Tensions in the region were high, with Saudi civil defence authorities on Thursday issuing emergency alerts in the southwest city of Khamis Mushait for the fourth time in 24 hours, [Read more]

U.S. pipeline operator Kinetik Holdings is in the early stages of exploring a potential sale of the company, three sources familiar with the matter said on Wednesday. The company is working with advisers on the process, said the sources, who cautioned that no deal was guaranteed and spoke on condition of anonymity to discuss confidential deliberations. Kinetik focuses on transporting natural gas and crude oil from wells in the Delaware portion of the Permian basin of Texas and New Mexico. [Read more]

U.S. natural gas supply and demand will both rise to record highs in 2026 and 2027, the U.S. Energy Information Administration said in its Short-Term Energy Outlook on Wednesday. The EIA projected dry gas production will rise from a record 107.6 billion cubic feet per day in 2025 to 111.7 bcfd in 2026 and 115.9 bcfd in 2027. The agency also projected domestic gas consumption will rise from a record 91.9 bcfd in 2025 to 92.2 bcfd in 2026 and 94.3 bcfd in 2027. The September projections [Read more]

The U.S. Energy Information Administration raised its oil price forecasts for this year and next year on Wednesday, as global stockpiles fall rapidly under pressure from the loss of Middle Eastern supply in the ongoing Iran war. Sharply higher oil and fuel prices have been the most visible indicators of the toll on global energy markets from more than six months of the Iran war, in which Tehran has choked oil flows through the Strait of Hormuz and bombed neighboring energy infrastructure in [Read more]

U.S. power consumption will rise to record highs in 2026 and 2027, driven by AI-hungry data centers and electrification, the U.S. Energy Information Administration said in its Short-Term Energy Outlook (STEO) on Wednesday. The EIA projected power demand will rise from a record 4,195 billion kilowatt-hours (kWh) in 2025 to 4,270 billion kWh in 2026 and 4,349 billion kWh in 2027. Demand is surging in large part due to data centers dedicated to artificial intelligence and cryptocurrency, and [Read more]

Benchmark Brent crude oil futures rose past $100 a barrel on Wednesday, hitting a more than six-week high and breaching the symbolic threshold for the first time since July 24 as intensifying conflict in the Middle East heightened concernsabout oil flows from the region. Brent crude futures were up $2.01, or 2.05%, at $99.93 a barrel by 0802 GMT, after earlier touching $100.19, while U.S. West Texas Intermediate crude was up $1.49, or 1.60%, at $94.52 a barrel. Brent crude prices have [Read more]

How much oil is flowing through the Strait of Hormuz? Traders, energy executives and government officials are all trying to figure it out – but are reaching wildly different conclusions. It is, however, increasingly clear that this mystery has introduced a residual risk premium into crude prices that could remain deeply entrenched for months. Benchmark Brent crude rose above $100 a barrel on Wednesday to its highest level since July 24 after a fresh wave of Iran-backed Houthi attacks on Saudi [Read more]