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Oil Prices Fall as Middle East Worries Ease

Oil markets have turned decidedly bearish after U.S. Secretary of State Antony Blinken revealed that Israeli Prime Minister Benjamin Netanyahu has accepted a cease-fire proposal to stop the war in Gaza, and all that’s remaining is for “Hamas to say yes.” Blinken met on Monday with top Israeli officials in …

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China Greenlights Record-Breaking Nuclear Expansion

China approved the construction of 11 new nuclear reactors on Monday, breaking a record and once again demonstrating its all-of-the-above attitude to energy security. The country is building more nuclear power plants than any other country in the world—just like its coal power plants—and based on those record approvals, it …

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German Politician Looks to Revive Russian Oil Imports

Sara Wagenknecht, founder of Germany’s ultra-left party BSW, has announced plans to lift the embargo on Russian oil if her party participates in the Brandenburg state government. Wagenknecht argues that resuming the supply of Russian oil to the Schwedt refinery would be more efficient and economical than the current situation, …

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China’s LNG Imports up 12% in January-July

China imported 43.9mn tonnes of LNG during the January-July period, marking an 11.8% increase compared to the previous year, according to data published by the customs department on August 18. In July alone, LNG imports totalled 5.9mn tonnes, representing a 1.1% year/year increase. China’s pipeline gas imports during the January-July …

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Equinor Shuts down North Sea Platform

Norway’s Equinor has shut down its Gullfaks C platform in the North Sea following a well control problem that also prompted the evacuation of some workers, Reuters has reported, citing a company spokesman. The spokesman added that production from the field was stable. Even so, the Norwegian gas system operator …

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