U.S. power consumption, which hit its second straight annual record high in 2025, will rise further in 2026 and 2027, driven by AI-hungry data centers and electrification, the Energy Information Administration said in its Short-Term Energy Outlook (STEO) on Tuesday. The EIA projected that power demand will rise from a record 4,195 billion kilowatt-hours (kWh) in 2025 to 4,268 billion kWh in 2026 and 4,391 billion kWh in 2027. Demand is surging in large part due to data centers dedicated to [Read more]
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US natural gas output, demand to hit record highs in 2026, EIA says
U.S. natural gas supply and demand will both rise to record highs in 2026, the U.S. Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. The EIA projected dry gas production will rise from a record 107.6 billion cubic feet per day in 2025 to 111.2 bcfd in 2026 and 116.0 bcfd in 2027. The agency also projected domestic gas consumption will rise from a record 91.9 bcfd in 2025 to 92.0 bcfd in 2026 and 94.8 bcfd in 2027. The August production projection for 2026 was [Read more]
US fired on Panama-flagged ship that tried to break blockade of Iranian ports, WSJ reports citing US official
A U.S. military helicopter fired at the rudder of a Panama-flagged ship after its crew ignored warnings from personnel working to enforce a naval blockade on Iranian ports, the Wall Street Journal reported on Tuesday, citing a U.S. official. There were no immediate reports of casualties from the incident, the report said, adding that the ship appeared to be trying to transfer its crew to another civilian vessel after the attack. British maritime risk management group Vanguard and a [Read more]
Ukraine’s attacks on Russian energy sites — what has been hit?
Ukrainian forces have stepped up strikes on Russian energy infrastructure and other sites in what Kyiv says is an effort to deprive Russia of resources to fund its military. Following is a summary of the attacks — starting with the most recent — and their impact: ORSK The Ukrainian military said on Tuesday it had attacked Orsknefteorgsintez oil refinery in the Russian city of Orsk, the second-largest city in the Orenburg region and an important industrial hub. The refinery's design [Read more]
Venture Global misses quarterly estimates as lower LNG prices, higher costs weigh
Venture Global missed analysts' estimates for quarterly revenue and adjusted core profit on Tuesday, as lower LNG prices at its Calcasieu Pass facility and higher operating and borrowing costs offset stronger sales volumes from its Plaquemines project. Shares of the LNG company fell about 7% in premarket trading. Venture Global reported second-quarter adjusted core profit of $2.49 billion, slightly below analysts' estimate of $2.50 billion, according to data compiled by LSEG. Revenue [Read more]
Phillips 66, Kinder Morgan, HF Sinclair approve $5 billion Western Gateway project
Phillips 66, Kinder Morgan and HF Sinclair said on Tuesday they have decided to proceed with the proposed $5 billion Western Gateway Pipeline system and finalized a joint venture agreement for the same. Phillips 66 will own 49.9% of the venture, Kinder Morgan 35.1% and HF Sinclair 15%. Companies have been racing to build a major new fuel pipeline to the U.S. West Coast ahead of planned refinery closures in California, a relatively isolated fuel market with limited links to major refining [Read more]
US fuel sales to Cuban business bring a glimpse of capitalism to Havana
Gasoline at $38 a gallon sold from cramped apartments. Diesel hawked on Instagram by a celebrity model to a reggaeton soundtrack. Six decades after Fidel Castro’s revolution, all of a sudden, capitalist cracks are appearing in Cuba’s communist energy sector. Under Washington’s crippling oil embargo against Cuba, an exception that allows U.S. firms to export fuel to private Cuban businesses has kickstarted a chaotic black market and pried the lid off an energy sector tightly controlled by the [Read more]
Gulf shipping traffic via Strait of Hormuz falls to six vessels
Shipping traffic through the Strait of Hormuz fell to six on Monday, compared with a 10-day average of about 11 vessels, shipping data showed, amid fading hopes of a peace deal between the U.S. and Iran. Four commodity vessels, including two empty oil product tankers, entered the waterway, data from Kpler showed on Tuesday as of 0420 GMT. Two vessels — a small tanker laden with liquefied petroleum gas and another carrying residual fuels — exited the Strait, the data showed. In pre-war days, [Read more]
Oil steadies near one-week highs as US-Iran peace deal hopes dim
Oil prices steadied on Tuesday at more than one-week highs amid fading hopes of a deal between the U.S. and Iran to end their war and reopen the Strait of Hormuz, after President Donald Trump demanded compensation for damage the U.S. has incurred. Brent crude futures fell 10 cents, or 0.11%, to $87.62 a barrel by 0405 GMT, while U.S. West Texas Intermediate crude futures were down 5 cents, or 0.06%, to $82.08 a barrel. Both benchmarks rose more than 5% on Monday to their highest since July [Read more]
Proposed Roberts Bank oil terminal would build on expanded West Coast marine safety system
Project being assessed by federal Major Projects Office for potential fast-tracking View from the bridge of an oil tanker transiting B.C. waters. Photo courtesy BC Coast Pilots/Trans Mountain Corporation Published on August 9, 2026 Author Name: Will Gibson Category Oil Having lived near the sea for almost all of her life, Bonnie Gee has a clear view of both the opportunities and risks of navigating the waters off British Columbia’s rugged [Read more]
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