The world's oil tanker fleet is behaving as if the Strait of Hormuz is reopening — even as the waterway itself remains only partially navigable and politically contested. From ship tracking data to freight rates, the signals are clear: owners and charterers are moving early to position vessels for a return to Gulf exports. But the gap between expectation and reality remains wide, leaving the global oil shipping system in a fragile middle ground between crisis and recovery. SIGNS OF [Read more]
Headlines
Trump urges gasoline retailers to lower prices, warns of ‘big problems’ if they don’t
U.S. President Donald Trump said on Monday gasoline retailers must get prices down immediately and warned that there will be "big problems" ahead if they did not do so. Here are details: * "Gasoline Retailers must get their Prices down, IMMEDIATELY," Trump wrote on Truth Social. * "There will be no gauging, which is totally illegal. If Retailers don't do this, big problems lie ahead! Start targeting around the $2.50 a Gallon number," he wrote. * Last week, Trump said he has [Read more]
US leads global CO2 emissions increase in 2025, report finds
The United States accounted for about a third of the rise in global carbon emissions in 2025, as higher gas prices pushed power producers back to coal, an Energy Institute report showed. Here are highlights from the report, produced in partnership with Ember, Kearney Institute and KPMG: * U.S. coal consumption jumped 10% last year, reversing a shift towards cleaner fuels and helping lift overall emissions. * Global carbon emissions from the energy sector rose 1.1% to 35,806 million [Read more]
Enbridge Celebrates America’s 250th Anniversary; Announces $2.5M Founding Gift to Theodore Roosevelt Presidential Library in North Dakota
Funding will help advance Library's sustainability and conservation initiatives MEDORA, N.D., June 29, 2026 /CNW/ - As America celebrates its 250th anniversary, Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) is announcing a $2.5M founding gift to the Theodore Roosevelt Presidential Library (TRPL) which opens July 4, 2026, in Medora, North Dakota. Enbridge's funding supports the library's sustainability certification and conservation initiatives. Enbridge's investment will [Read more]
Oil stocks in US Strategic Petroleum Reserve fall by 5.5 million to lowest level since 1983
Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by 5.5 million barrels to 325.7 million barrels, the lowest level since May 1983, according to data from the Department of Energy. The drawdowns are a part of a U.S. agreement to release 172 million barrels from the facility to plug a gap in global inventories after the Iran war and help push down fuel prices. U.S. crude stocks have rapidly declined in recent weeks due to strong export and refining demand for American [Read more]
De-mining of the Strait of Hormuz to be carried out only by Iran, deputy foreign minister says
The removal of mines from the Strait of Hormuz is to be carried out solely by Iran according to the Islamabad MoU between Tehran and Washington, Iran's Deputy Foreign Minister Kazem Gharibabadi said in a post on X on Monday, in response to French President Macron's comments on the subject. Emmanuel Macron said on Monday that France and Oman are working together to de-escalate tensions in the Middle East and will cooperate with their partners on clearing mines from the Strait of Hormuz. The [Read more]
Iraq’s push for bigger OPEC quota driven by revenue pressures, new oil investment
An economic crisis caused by the Iran war and a fresh surge of investment by oil majors are driving Iraq's aggressive push for a higher OPEC production quota, potentially placing it on a collision course with the producer bloc. The pressure from Baghdad adds to the challenges confronting the Organization of the Petroleum Exporting Countries, still reeling from the conflict's fallout and the shock departure of the United Arab Emirates after nearly 60 years as a member. The war, which forced [Read more]
Prospera Announces $12.0 Million Non-Brokered Equity Financing to Scale Its Heavy-Oil Strategy
Calgary, Alberta--(Newsfile Corp. - June 29, 2026) - Prospera Energy Inc. (TSXV: PEI) (OTC Pink: GXRFF) ("Prospera", "PEI", the "Corporation", or the "Company") Prospera Energy is pleased to announce a non-brokered private placement of units of the Company at $0.04 per unit for aggregate gross proceeds of up to $12,000,000, the largest financing in the Company's history and a defining inflection point for Prospera. Over the past twenty months, the Company executed a deliberate and highly [Read more]
Data centers aren’t the real US power problem. Outdated policy is: Douglas J. Arent
Data centers are being blamed for America's rising electric bills. But the real issue is not that AI — and consumers in general — are boosting energy usage. The real problem is structural, and it began long before the latest infrastructure boom. Average residential electricity rates rose 6% last year — more than twice the inflation rate. Roughly one-third of American households now spend more than 5% of their income on electricity. In 2025, rate increase requests filed by investor-owned [Read more]
Mediators set up de-escalation channels ahead of US-Iran talks, source says
Iranian and U.S. technical teams working on the implementation of an interim peace deal are expected to meet in Doha in the coming days, a source told Reuters on Monday, after tit-for-tat weekend strikes threatened to derail the fragile accord. Mediators have established communications channels to de-escalate any incidents, and technical talks are set to continue, the source, with knowledge of the discussions, added. A senior Iranian source told Reuters on Monday that there would be a [Read more]
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