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By Andrew Mills Sept 23 - US President Donald Trump’s UNGA sidelines meeting with Gulf leaders this week delivered a familiar bit of Trumpian theatre: after boasting that US naval escorts had shepherded more than a billion barrels of Gulf oil, he turned to Qatar’s Emir Sheikh Tamim bin Hamad Al Thani and quipped: “That’s not a lot to Tamim, but it’s a lot to most people.” It was classic Trump — the same long-running rich jokes he’s deployed in past Oval Office meetings and White House photo [Read more]

The US might consider leaving the International Energy Agency if there is no alignment on climate issues, US Energy Secretary Chris Wright said on Wednesday. "We're either going to reform the IEA or we will leave the IEA. My strong preference is that we reform it," Wright said at an event in New York hosted by the Wall Street Journal. The Paris-based IEA has provided research and data to industrialized governments for more than half a century to help guide policy around energy security, [Read more]

Iran conveyed its conditions for reviving diplomacy to the US in a two-hour-long exchange of messages through a mediator on the sidelines of the UN General Assembly on Tuesday, Iran's Foreign Ministry Spokesperson Esmaeil Baghaei said on X on Wednesday. Conditions conveyed through a Qatari mediator included accepting the safe route in the Strait of Hormuz on which understanding between the two coastal countries has been reached, end of US action against Iran including economic "terrorism", [Read more]

Federal Reserve Bank of Chicago President Austan Goolsbee believes the US central bank may need to treat the current energy shock as a source of persistent inflation rather than expect it to dissipate on its own. "For big negative supply shocks... you'd be better off just assuming from the beginning this thing is going to be pretty persistent on inflation: that's certainly what happened in Covid; that's what happened with the tariffs. That's maybe what's happening with oil," Goolsbee said in [Read more]

** Shares of oil producer Devon Energy rise 3.2% to $48.43 ** Activist investor Toms Capital, in a letter, urges Devon to explore alternatives, including a sale, according to CNBC ** Toms is now one of Devon's top five shareholders - letter viewed by CNBC ** CNBC reports that in meetings prior to sending its letter, Toms had encouraged a similar strategy and now is urging the company to sell itself ** Toms Capital and Devon Energy did not immediately respond to Reuters' request for [Read more]

US crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 3 million barrels to 426.4 million barrels in the week ended September 18, the EIA said, compared with analysts' expectations in a Reuters poll for a 641,000-barrel draw. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.2 million barrels in the week to 23.7 million barrels, the EIA said. Oil futures were little [Read more]

US Energy Secretary Chris Wright on Wednesday said a US ban on diesel exports would not work and could push up gasoline and jet fuel prices, putting him at odds with President Donald Trump, who is backing the idea. Diesel prices have surged to record highs due to the US-Israeli war with Iran and the conflict in Ukraine, angering farmers and other users of the fuel ahead of the midterm elections in November that will decide control of Congress. "The blunt tool of banning diesel exports [Read more]

Soaring fuel costs are increasing pressure on US President Donald Trump to curb diesel exports ahead of November's midterm elections. But what may seem like an easy fix could unleash a chain reaction that ultimately leaves American consumers and the global economy worse off. Surging energy prices since the start of the Iran war in late February are setting off alarm bells in the White House. While politically sensitive gasoline prices remain elevated at nearly $4.50 a gallon, attention in [Read more]

As project opportunities continue to evolve across traditional energy, infrastructure, mining, advanced technologies, and emerging markets, collaboration across the supply chain remains more important than ever. Successfully executing projects requires strong partnerships, open communication, and a commitment to continuous engagement with suppliers and contractors. These principles were at the forefront of Fluor Canada's 2026 Connect event, held recently in Calgary. Connect was established [Read more]

Asia's imports of crude oil rose to the highest in September since the Iran war started, but even with the recovery they remained some 13% below pre-conflict levels. The world's biggest oil-consuming region is on track to import 23.96 million barrels per day (bpd) in September, up from 23.38 million bpd in August and the most since February, according to data compiled by commodity analysts Kpler. Asia's crude imports have been trending higher since hitting the lowest in more than 10 years [Read more]