Fuel & oil news
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Headlines
Asian shares rally after Dow record, AI stocks bounce back
Asian markets rallied on Friday, led by South Korea's Kospi recovering nearly 3% after a sharp selloff, as AI-related stocks bounced back and oil prices rose.
Japan Shifts From Gas to Coal as Hormuz Disruption Tightens LNG Supply
Japan cut natural gas-fired power generation last month, turning to coal as Strait of Hormuz disruptions tightened LNG supply, highlighting fuel-switching risks in Asia.
UAE Rewrites Offshore Oil Pricing to Capture Asian Markets
The UAE is overhauling its offshore crude pricing mechanism to better compete with Middle Eastern rivals and secure a larger share of Asian demand, a move that could reshape regional benchmarks.
Canada and Philippines to Sign Trade Deal This Year, Boost Energy Ties
Canada and the Philippines plan to finalize a free trade agreement this year and signed agreements to deepen cooperation on energy, defense, labor and migration, Prime Minister Mark Carney said Thursday.
Europe Energy Transition Stalls as Heat Wave Exposes Cost of Inaction
London Climate Action Week coincided with an intense heat wave, highlighting Europe's missed opportunities to accelerate its clean energy transition and reduce greenhouse gas emissions.
US Leads Global SMR Development with 28 Projects
The United States has announced 28 small modular nuclear reactor (SMR) projects, more than its four closest rivals combined, solidifying its lead in next-generation nuclear energy.
Carney Keeps North BC Tanker Ban as Alberta Readies Pipeline Plan
Prime Minister Carney reaffirms the tanker ban off northern British Columbia while Alberta prepares a new pipeline proposal, creating uncertainty for Canadian crude export capacity.
OPEC+ Output Hike Extension Fails to Move Oil Markets
OPEC+ is set to extend output quota hikes, but the market barely reacts as the UAE ships record crude volumes and geopolitical tensions persist.
Trump Administration Advances New California Oil Lease Plans
The Bureau of Land Management opened a 30-day public scoping period for 50 federal oil and gas parcels in California, advancing Trump's energy agenda despite state opposition.
Cumberland Farms Files for US IPO, Joining Record Listing Rush
Cumberland Farms, the gas station and convenience store operator owned by EG Group, filed for a US IPO, capitalizing on a record start to the year for new listings.
Kuwait Seeks Consortium Bids for $7 Billion Oil Pipeline Stake
Kuwait Petroleum Corporation asks consortiums to bid for a $7 billion stake in its oil pipeline network, following regional peers in attracting infrastructure investors.
Natural Gas Set to Surpass Oil as US Top Energy Source by 2030
For the first time in 75 years, natural gas is projected to overtake petroleum as the dominant US energy source by 2030, reshaping fuel markets and infrastructure investment.
India and Japan Deepen Strategic Ties on Energy and Defense
Japanese PM Sanae Takaichi's first official visit to New Delhi signals deeper India-Japan cooperation on energy security, aiming to reduce reliance on Chinese supply chains.
Kyrgyzstan Seeks Emergency Fuel Supplies as Russian Shortage Looms
Kyrgyzstan, which imports over 90% of its gasoline from Russia, has asked neighbors and Russia for emergency fuel supplies as the Russian fuel crisis threatens to disrupt shipments to the Central Asian nation.
Russia Intensifies Strikes on Kyiv as Ukraine Hits Oil Refineries
Russia launched one of its largest drone-and-missile assaults on Kyiv, killing at least 17, in retaliation for Ukrainian strikes on Russian oil refineries that have caused fuel shortages.
India Plans to Expand Oil Reserves to Guard Against Price Spikes
India plans to build larger oil inventories and expand storage capacity to hedge against price volatility, a move that could support global crude demand and tighten supply buffers.
Nigeria's NNPC Revenue Falls in May Despite Higher Oil Output
Nigeria's state oil firm NNPC reported a drop in May revenue to $3.15 billion from $3.62 billion in April, despite higher crude output, as oil prices eased from war-time highs.
Qatar LNG Export Revival Stalls, Bad News for Buyers
Qatar's LNG export revival falters as fewer tankers risk the Strait of Hormuz crossing, tightening global supply and supporting prices.
US gas prices at 4-year high ahead of July 4th holiday weekend
US national average gas price stands at $3.84 per gallon ahead of July 4th, the highest level for the holiday in four years, though prices have been declining rapidly.
Saudi Arabia Rushes Crude Exports Through Reopened Strait of Hormuz
Saudi Arabia has shipped at least five supertankers carrying about 10 million barrels of crude through the Strait of Hormuz since its reopening, signaling a rapid return to full export capacity.
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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.