Fuel & oil news
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Headlines
China Crude Oil Imports Set to Fall Further in June
China's crude oil imports are expected to decline further in June, extending a period of weak demand that has weighed on global oil prices.
Chinese Energy Firm Huachen Plans New Bond Restructuring After Payment Delay
Huachen Energy Co., a Chinese power producer, plans to propose a fresh bond restructuring to investors as early as August after a payment delay, aiming to ease liquidity pressure.
AI Boom Drives Global Energy Land Rush for Power-Hungry Data Centers
The AI revolution's most critical resource is no longer chips but reliable, high-voltage electricity, sparking an unprecedented global competition among tech giants for power-hungry data centers.
OPEC Control Rejection Could Push Oil Below $50 a Barrel
Growing defiance against OPEC production quotas, highlighted by Iraq's potential exit, raises the risk of a supply glut that could drive oil prices below $50 a barrel in 2026.
Colombia Cocaine Revenue Surpasses Oil Export Earnings in 2024
Cocaine revenues in Colombia reached $16.5 billion in 2024, surpassing oil export earnings of $15 billion, highlighting the scale of the illicit drug trade relative to legal energy exports.
Marathon Petroleum Fair Value Raised as Analysts Lift Price Targets
Analysts have raised fair value estimates for Marathon Petroleum to $271.59 per share, citing improved refining margins and updated strip pricing through 2027.
Geothermal Could Power 65 Million US Homes by 2050, DOE Says
The U.S. Department of Energy projects geothermal energy could power 65 million American homes by 2050, marking a major shift in the renewable energy landscape.
S&P 500 Falls as AI Trade Splits, Small Caps Gain, Oil Drops
The S&P 500 fell this week as AI-related stocks diverged, but small caps rose and eight sectors gained, while falling oil prices and easing yields shifted market focus.
Asia's Crude Buying Spree Loses Steam on Freight Costs, Strait Risks
Asian refiners have cut spot purchases of Middle East crude for June and July after a three-week buying spree, as high freight costs and Strait of Hormuz uncertainties dampen demand.
SpaceX Plans 8-Mile Natural Gas Pipeline for Starship Launch Site
SpaceX will begin construction next month on an 8-mile natural gas pipeline to fuel its Starbase launch facility in South Texas, marking a new midstream venture for the aerospace company.
Apple price hikes signal sticky inflation despite falling gas prices
Apple's price increases across its services and products suggest underlying inflation pressures remain elevated, even as falling gasoline costs provide some relief to consumers.
Gas Prices Fall for Six Weeks but July 4 Still Near Record High
Gasoline prices have fallen for six straight weeks, but the national average on July 4 is projected at $3.75 per gallon, the second-highest on record after 2022.
Kazakhstan Secures $12B in EU Deals for Energy and Trade Expansion
Kazakhstan signed deals worth over $12 billion with the EU during President Tokayev's visit, including a major Airbus jet purchase, boosting energy and trade ties via the Middle Corridor.
Iran tightens Strait of Hormuz grip, oil prices climb
Iran's increased assertiveness in the Strait of Hormuz threatens global oil supply chokepoint, pushing crude prices higher as traders price in heightened geopolitical risk.
Russia Turns Asia’s Oil Shock Into an Indonesian Opening
Russia is capitalizing on the US-Iran conflict by gaining new Asian crude buyers after Washington waived sanctions on Russian barrels in March 2026.
Saudi Ras Tanura Terminal Restarts as Gulf Oil Supply Recovery Picks Up
Saudi Aramco is resuming crude loadings at its largest export terminal, Ras Tanura, signaling a swift recovery in Gulf oil supply after weeks of disruption.
AI Boom Drives Tennessee to Plan Massive Natural Gas Expansion
The Tennessee Valley Authority's preliminary 2026 plan reveals a need for 7-26 GW of new natural gas capacity by 2040, driven by surging electricity demand from data centers and AI.
UK Energy Secretary Vetoes North Sea Drilling Plan to Fund Defense
UK Energy Secretary Ed Miliband vetoed a Treasury plan to boost North Sea oil and gas drilling to fund increased defense spending, prioritizing climate goals over short-term revenue.
US Airline Stocks Recover Pandemic Losses as Oil Eases
A US airline stock index erased pandemic-era losses after six years, as easing oil prices on Iran peace talks boosted carrier profitability.
AI Data Center Boom Could Drive Fuel Cell Market to $30 Billion by 2030
Rystad Energy projects the fuel cell market will grow tenfold to $30 billion by 2030, driven by AI data center demand for reliable on-site power.
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NowPrice news curates headlines from established financial sources (CoinDesk, Decrypt, Investing.com, MarketWatch, OilPrice, Bloomberg and others). Our editorial team writes concise summaries in 5 languages. We don't republish articles — every story links back to the source.