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8d07/03

Colombia's Oil and Gas Reserves Keep Shrinking

For a decade, Colombia's economically vital oil industry has been caught in a death spiral. A combination of sharply weaker oil prices, rising geopolitical risk and anti-petroleum industry reforms implemented by Colombia's first leftist president Gustavo Petro deterred investment, causing the operational tempo to decline. The main issue weighing heavily on the oil patch's outlook is a dire lack of proven petroleum reserves. These are the result of a lack of spending on wildcat drilling and a poo

◇ unclassifiedmiddle-east · russia · usa
8d07/03⚠ war-conflict · 2/5

Massive Russian bomb attack kills at least 4 in Ukraine’s Sumy

A massive Russian ⁠glide bomb strike on the centre of the northern Ukrainian city of Sumy killed at least four people, including a child, on Friday and injured 27, Regional Governor Oleh Hryhorov said. Other areas in Sumy region and in southeastern Ukraine, closer to ‌the front lines, also came under Russian attack, killing a total of six people. “At the epicentre of the strike – a high-rise apartment building, a shop and a street,” Hryhorov wrote on Telegram of the strike in Sumy. “There were a

◇ unclassifiedchina · asia · russia
8d07/03⚠ war-conflict · 2/5

Can Taiwan fix its military manpower shortage by training reservists in advanced weapons?

Taiwan is requiring its reservists to train longer and harder, introducing drones and US-made Himars rocket systems into a revamped 14-day call-up programme as it races to offset worsening troop shortages amid a demographic decline. One of the biggest reforms of Taiwan’s reserve force in decades, the overhaul reflects growing concern that a shrinking pool of military-age recruits and mounting pressure from Beijing mean the island can no longer rely solely on its standing military. From this...

◇ unclassifiedchina · asia · taiwan
8d07/03⚠ coups-regime · 2/5

Taylor Swift and Travis Kelce get married in star-studded Madison Square Garden ceremony

Taylor Swift and Travis Kelce are married. Swift’s publicist confirmed the marriage took place Friday evening inside Madison Square Garden at a star-packed ceremony. The couple did not have bridesmaids or groomsmen, instead opting for Swift’s brother to serve as her man of honour and Kelce’s brother Jason serving as his best man. The wedding between the superstar singer and American football player took place as fans and spectators gathered outside MSG in the blistering heat, eager to be part of

◇ unclassifiedchina · asia · usa
8d07/03⚠ war-conflict · 3/5

OPEC Oil Production Jumps, But Gulf Supply Is Still Far From Normal

OPEC's oil production rebounded sharply in June as Gulf producers finally began bringing shut-in barrels back online after months of war-induced disruptions. But despite the impressive headline number, the cartel is still pumping nowhere near where it was before the Strait of Hormuz crisis turned Middle East oil flows upside down. According to Reuters' monthly survey, the 11 OPEC members produced 19.43 million barrels per day in June, up 3.3 million bpd from May, when output plunged to the lowes

◇ unclassifiedmiddle-east · russia · usa
8d07/03⚠ war-conflict · 3/5

Copper's Next Move Depends On Washington, Not The Strait Of Hormuz

Six months after Operation Epic Fury upended the metals complex, the Strait of Hormuz still can't decide if it's open. Days after the two countries signed a memorandum of understanding on June 17, Iran's military declared the strait closed again, only for Iran's own foreign ministry to tell state media shipping was “operating normally.” Under that same agreement, Washington has until July 19 to fully lift its naval blockade, while Tehran is only committed to its “best efforts” to restore pre-war

◇ unclassifiedmiddle-east · russia · usa
8d07/03⚠ shipping-routes · 2/5

Hormuz Turns Oil Outlooks Into a Guessing Game

Numbers Report – July 03, 2026 In the latest edition of the Numbers Report, we will take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers. Let’s take a look. 1. Hormuz Turns Oil Outlooks Into a Guessing Game - Energy market research organizations have started to recalibrate their global supply outlooks for 2026 and 2027, with the US Energy Information A

◇ unclassifiedmiddle-east · russia · usa
8d07/03

Russia Scrambles for Asian Jet Fuel as Crisis Deepens

Russia's fuel crisis has reached the point where one of the world's biggest oil producers is preparing to import jet fuel. According to Reuters, Russia is set to receive at least 200,000 barrels of jet fuel originating in Japan through a complex chain of traders and ship-to-ship transfers via South Korea, underscoring just how badly Ukrainian drone strikes have disrupted the country's refining system. The cargo is expected to load from Chiba, Japan, in the first half of July before heading to So

◇ unclassifiedmiddle-east · russia · usa
8d07/03⚠ war-conflict · 3/5

DOJ Urges States to Enforce Fuel Price-Gouging Laws

The Trump administration is taking its campaign against high gasoline prices to the states, and it’s doing it formally. A little more than a week after President Donald Trump ordered the Justice Department to investigate possible price gouging at the pump, federal antitrust regulators have formally asked state attorneys general to join the effort, warning that oil market volatility is no excuse for anticompetitive behavior. In a letter sent Friday seen by CBS News, the Justice Department and the

◇ unclassifiedmiddle-east · russia · usa
8d07/03⚠ war-conflict · 3/5

Oil Markets Grow Numb to U.S.-Iran Ceasefire Drama

Oil prices remain stuck in a tight range as traders look past geopolitical headlines and wait for clarity on the fragile U.S.-Iran ceasefire. Friday, July 03, 2026 Following weeks of extremely volatile and geopolitics-driven trading, oil prices have been exceptionally calm this week, with ICE Brent trending within a narrow range of $71-73 per barrel. This partly stems from pre-holiday liquidity dips; however, it could also be seen as the oil markets’ general fatigue with gauging the current stat

◇ unclassifiedmiddle-east · russia · usa
8d07/03⚠ war-conflict · 3/5

Russia Escalates Kyiv Strikes Days Before NATO Summit Showdown

Russia carried out one of its largest attacks on Ukraine's capital this year, reigniting demands in the United States and Europe for tougher military and economic measures against Moscow.Ukrainian officials said at least 27 people were killed and scores of others wounded in the large-scale attack on Kyiv on July 2, which caused fires and extensive damage to civilian infrastructure and residential buildings across several districts.The scale of the assault drew swift condemnation from lawmakers i

◇ unclassifiedmiddle-east · russia · usa
8d07/03⚠ shipping-routes · 2/5

TotalEnergies Offers Millions of Barrels of Iraqi Crude to Asian Buyers

TotalEnergies is offering millions of barrels of Iraq’s Basrah Medium and Basrah Heavy crudes for prompt delivery to Asia this month and next, traders who had received some of these offers told Bloomberg on Friday. Iraq, one of the Persian Gulf producers most hit by the closure of the Strait of Hormuz, has been offering crude on the spot market with deep discounts and only on a loading basis, which means buyers need to secure empty tankers to move inbound into the Gulf via the Strait of Hormuz.

◇ unclassifiedmiddle-east · russia · usa
8d07/03⚠ war-conflict · 3/5

Japan's Top Oil Refiner Eyes a Post-Hormuz Future

Japan’s biggest oil refiner, Eneos Holdings, will likely move to diversify its crude supply from a heavy dependence on the Middle East in the wake of the shock disruption of flows through the Strait of Hormuz, the company’s chief financial officer, Soichiro Tanaka, told Reuters in an interview published on Friday. Before the Iran war, Japan and its refiners relied on the Middle East for a massive 95% of all crude imports. But the shock loss of supply forced refiners to seek alternatives and the

◇ unclassifiedmiddle-east · russia · usa
8d07/03

Power Prices Triple on PJM as Heat Wave and Data Centers Collide

America's biggest power grid pushed to the edge of an all-time record this week, and the bigger force behind it may be tied to data centers. PJM Interconnection, which delivers power to 67 million people across 13 states and Washington, D.C., saw electricity demand surge to roughly 163 gigawatts on Thursday as a brutal heat dome pushed heat indices past 110 degrees from Washington to New York, according to Reuters. That fell just short of the grid's 2006 all-time peak of 165,563 megawatts, even

◇ unclassifiedmiddle-east · russia · usa
8d07/03⚠ war-conflict · 3/5

Soaring Imports Push India’s Crude Stocks to Near 1-Year High

India’s strategic and commercial crude oil inventories have jumped to a nearly one-year high as the world’s third-largest crude oil buyer boosted its imports to a record high in June. As at the end of June, India’s crude oil stocks held in strategic, commercial, and refinery storage had increased to 104 million barrels, up from 90.5 million barrels at the end of April, according to data from commodity intelligence provider Kpler cited by Indian outlet Economic Times. Before the Iran war began, I

◇ unclassifiedmiddle-east · russia · usa
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