ROI — ENERGY WATCH: Boom and doom
(The opinions expressed here are those of the author, a columnist for Reuters.) Breaking down what matters today in global energy markets By Ron Bousso, ROI Energy Columnist For the energy world, it's been another week of rising tensions and explosions. In the Middle East, Yemen's Iran-aligned Houthis struck the headquarters of Saudi Arabia's national oil company, while the number of attacks on tankers crossing the Strait of Hormuz continued to climb. Meanwhile, any hopes for an energy détente between Russia and Ukraine proved short-lived. Days after US President Donald Trump announced an energy infrastructure ceasefire, Kyiv resumed strikes on Russian refineries following a fresh wave of attacks on Ukrainian energy facilities. The Iran conflict also appears to be approaching a pivotal moment. Tehran has vowed to step up attacks on oil shipments leaving the Gulf as it seeks to put upward pressure on prices ahead of the US midterm elections, which are now less than three weeks away. Trump, for his part, has said Washington will hold off on further strikes against Iran until after the vote. What happens once Election Day has passed remains anyone's guess. What is becoming clear, howe
(The opinions expressed here are those of the author, a columnist for Reuters.) Breaking down what matters today in global energy markets By Ron Bousso, ROI Energy Columnist For the energy world, it's been another week of rising tensions and explosions. In the Middle East, Yemen's Iran-aligned Houthis struck the headquarters of Saudi Arabia's national oil company, while the number of attacks on tankers crossing the Strait of Hormuz continued to climb. Meanwhile, any hopes for an energy détente between Russia and Ukraine proved short-lived.
Days after US President Donald Trump announced an energy infrastructure ceasefire, Kyiv resumed strikes on Russian refineries following a fresh wave of attacks on Ukrainian energy facilities. The Iran conflict also appears to be approaching a pivotal moment. Tehran has vowed to step up attacks on oil shipments leaving the Gulf as it seeks to put upward pressure on prices ahead of the US midterm elections, which are now less than three weeks away. Trump, for his part, has said Washington will hold off on further strikes against Iran until after the vote.
What happens once Election Day has passed remains anyone's guess. What is becoming clear, however, is that energy markets are increasingly less convinced that this disruption will be short-lived. The early expectation that the Iran war would cause only a temporary shock is giving way to a more uneasy outlook. Read more in my column.
In other news: The Trump administration is considering easing sanctions on so-called shadow fleet vessels that have transported oil and petroleum products from countries including Russia, Iran and Venezuela, in an effort to reduce record-high global freight rates, a US official said. TotalEnergies expects its refining margins to have nearly quadrupled in the third quarter compared to last year, as the Iran war continues to lift energy prices and boost profits for oil majors, the French company said in a trading update.
The European Commission proposed a one-year delay to the EU's methane emissions rules for oil and gas imports on Wednesday, after pressure from governments including France and the United States. The global shift to electric vehicles might appear unstoppable, but the path there is far from straightforward. ROI Energy Transition Columnist Gavin Maguire breaks it down. As ever, don’t hesitate to contact me at or follow me on LinkedIn with any questions or thoughts.
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