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US Oil Update: Crude Steadies as Markets Weigh Iran-Oman Talks, Weak US Jobs Data

Crude futures held steady in after-hours trading on Friday as markets weighed prospects for progress in Iran-Oman talks against concerns over slowing economic growth after weaker-than-expected US jobs data raised questions about fuel demand.Front-month West Texas Intermediate crude futures eased by 0.3% to $77.08 per barrel, while Brent futures eased by 0.4% to $82.15/bbl.ING strategists said that despite clear signs of progress in recent days, the tenor of the rhetoric and growing distrust between the US and Iran mean tensions could escalate once again.On Friday, the US sanctioned two cryptocurrency exchanges and a network of companies allegedly helping Iran's Islamic Revolutionary Guard Corps and other sanctioned entities move and launder billions of dollars through digital assets."We will continue to increase the economic pressure," Treasury Secretary Scott Bessent said in a statement.On Thursday, Iran's speaker of Parliament, Mohammad Baqer Qalibaf, alleged that President Trump was staging "theater diplomacy," as Washington and Tehran offer conflicting accounts of bilateral engagement aimed at ending their months-long hostilities.Meanwhile, Iran and Oman are working on an agreement to define transit routes through the Strait.The structure of the Iran-Oman agreement in its current form and the power it yields to Iran is nothing that Trump can accept politically, Bjarne Schieldrop, chief commodities analyst at SEB Research, said, adding that the US President's options are shrinking.An Iranian lawmaker on Thursday reportedly said a parliament committee is reviewing a preliminary bill to ban US, Israeli and other vessels deemed hostile from the Hormuz, and fine violators of the proposed restrictions up to a fifth of cargo value.The plan, according to local media reports, would also bar Israeli cargo and related vessels. The restrictions will extend to "countries and individuals that have caused damage to Iran" until that harm is "compensated."The Middle East conflict has escalated after Yemen's Houthis attacked a Saudi oil tanker in the northern Red Sea off the coast of Yanbu on Wednesday.Traffic through the Middle East energy chokepoints diverged, with Kpler data showing 8 confirmed crossings in the Hormuz, down 33%, while crossings via Bab el-Mandeb rose 18% to 26.ING strategists said that flows via the Hormuz will start to normalize through Q3, while forecasting Brent prices to average $80/bbl this quarter. However, there's plenty of risk and uncertainty to this view, the analysts said.Capping the gains, the latest data from the Bureau of Labor Statistics showed that the US economy lost 139,000 jobs in July, compared with a downwardly revised 20,000 for the previous month. The unemployment rate slipped to 4.1% as the labor force participation rate fell further to 61.4%.

Commodities1h ago

US Natural Gas Update: Futures Rise as Strong Demand Offsets Bearish Storage Data

US natural gas futures held onto gains in after-hours trading on Friday as firm domestic demand and strong LNG exports continued to support sentiment despite Thursday's bearish storage data.The front-month Henry Hub contract and the continuous contract both rose 1.17% to $2.67 per million British thermal units.NRG Energy said forecast heat across much of the central and southern US is expected to keep cooling demand elevated through mid-August.Analysts said that geopolitical tensions involving the US and Iran, along with continued concerns over shipping through the Strait of Hormuz, remain supportive for global oil and LNG markets.US dry gas production stood at 111.4 billion cubic feet per day, while Canadian imports fell to a two-week low of 4.6 Bcf/d, reducing total supply to 116 Bcf/d, according to Gelber & Associates.LNG feedgas flows climbed to a two-week high of 18.8 Bcf/d and power burn held at 49 Bcf/d, leaving market balances modestly supportive despite elevated production.Gelber & Associates said temperatures are expected to remain above normal through early next week, with power burn forecast to peak near 50.2 Bcf/d on Tuesday.According to US Energy Information Administration data released Thursday, working gas in storage increased by 33 billion cubic feet for the week ended July 31, lifting total inventories to 3,117 Bcf, about 6.7% above the five-year average.

Commodities1h ago

Hawaiian Electric Q2 Power Sales Slip, Plans $1.3 Billion Grid Investment Through 2035

Hawaiian Electric Industries (HE) reported Q2 earnings Friday, showing total electricity sales of 2,015 gigawatt-hours, down from 2,032 GWh a year earlier.Hawaiian Electric reported sales of 1,496 GWh for the quarter ended June 30, down from 1,509 GWh a year earlier.Hawaii Electric Light increased sales to 260 GWh in Q2, up from 257 GWh for the same quarter last year.Maui Electric sales declined to 259 GWh for the quarter, down from 266 GWh a year earlier.The company said it submitted its Integrated Grid Plan Request for Proposals to Hawaii regulators in July, seeking nearly 1,650 GWh of variable renewable energy, 465 MW of grid-forming resources and 111 MW of firm generating capacity."The proposed procurement is one of our largest ever, and would help us build a portfolio that meets the requirements of reliability and lower carbon emissions at the least cost to customers," said Scott Seu, HEI president and CEO.Hawaiian Electric said it plans to invest about $1.3 billion through 2035 to build or expand renewable energy interconnection points, alongside about $60 million in distribution upgrades over the next 10 years and $190 million for climate adaptation over the next five years.The company expects capital expenditures of $700 million to $750 million in 2026, about $700 million to $800 million in 2027 and about $750 million to $850 million in 2028 to strengthen grid resilience, reduce wildfire risk and repower firm generation.Key projects include the Waiau Repower project, with forecast spending of $158 million in 2026, $150 million in 2027 and $243 million in 2028. Hawaiian Electric also plans to invest $80 million, $93 million and $73 million, respectively, in its Wildfire Mitigation Plan over the same period.The company also expects to spend $62 million on the Waena battery energy storage and solar project in 2026 and $16 million in 2027, while the Army Privatization project carries planned investments of $29 million, $66 million and $36 million across 2026-2028.

$HE

Commodities1h ago

RIN Weekly Price Gains Limited by Weakness in Soybean Oil to Heating Oil Spread

Renewable Identification Number markets traded higher weekly for the week of July 31 and Aug. 6, according to the EcoEngineers Carbon Market Snapshot.Current-year D4 2026 RINs, used for biomass-based diesel, traded at $2.21 per RIN on Thursday, up from $2.17/RIN a week earlier.D5 2026 RINs were trading around $2.19/RIN, up from $2.15/RIN last week.D6 2026 corn-based ethanol RIN prices finished trading on Thursday at $2.16/RIN, up from $2.12/RIN a week ago.Zander Capozzola, principal consultant at Argus Media, said that RIN prices have been pressured by weakness in the soybean oil-to-heating oil spread, as soybean oil prices decoupled from diesel.The BOHO spread rebounded from its lowest level in almost four months to reach $1.34 per US gallon on Aug. 4 before ending Thursday at $1.20/USG, Capozzola said."Soybean oil came under pressure as inventories were not being drawn down as fast as expectations, leading traders to suspect biofuel demand for SBO was lagging," he said.The September BOHO spread was $1.25/USG as of Friday. Despite recent RIN weakness in the second half of July, RIN premiums to the BOHO spread have remained resilient, indicating healthy profitability for renewable diesel and biodiesel producers, Capozzola said.Meanwhile, Monday's small refinery exemption announcement reinforced expectations that the Environmental Protection Agency will continue using its Department of Energy scorecard methodology, Capozzola said."A slightly more generous application of this approach brought 160 million RINs to the market, which will not be reallocated to future obligations," Capozzola said.The SRE actions could raise expectations that the EPA will show similar leniency in its 2025 SRE approvals, which are expected to be announced this month ahead of the Sept. 1, 2025, compliance deadline."Argus estimates show this could free up an additional approximately 200mn 2025 RINs compared with our base case assumption," he said.

Commodities2h ago

Biofuel Weekly Retail Values Drop for Ethanol, Rise for Biodiesel, Renewable Diesel, The Digest Says

Weekly retail prices rose for renewable diesel and biodiesel, while they dropped for ethanol, according to The Digest.For the week of July 29 to August 6, biodiesel's Renewable Fuel Standard value of $1.99 per gallon this week was unchanged from a week ago. Biodiesel's Low Carbon Fuel Standard value of $0.63/gal was up from $0.60/gal a week ago. Additionally, the biofuel's tax credit value at $1/gal and energy value of $3.27/gal were unchanged. Biodiesel's retail price of $6.89/gal on Wednesday was up from $6.86/gal a week ago.Renewable diesel's retail price of $8.38/gal this week is above $7.03/gal a week ago. RD's energy value of $3.76/gal on Thursday is down from $4.16/gal a week ago. The RD's RFS value is $1.99/gal, unchanged from a week ago. Its tax credit value of $1/gal was unchanged over the week. RD's LCFS value is $0.63/gal, up from $0.60/gal a week ago.Ethanol's weekly performance was mixed. Its LCFS value of $0.15/gal is unchanged from a week ago. Ethanol's energy value of $0.27/gal was unchanged from a week ago. Ethanol's RFS value of $1.94/gal was unchanged from last week. Also, the retail price of $2.36/gal is unchanged from a week ago.Sustainable aviation fuel's energy value of $4.34/gal was below $4.37/gal a week ago. SAF's retail price of $8.37/gal was unchanged from a week ago. SAF's RFS value was $1.99/gal, unchanged from a week ago. Its LCFS value at $0.63/gal is up from $0.60/gal a week ago, and its tax credit value was unchanged at $1.54/gal.Note: These values are for delivery into a US market with a clean fuel standard. Conventional ethanol is modeled at a Carbon Intensity of 70; RD, SAF, biodiesel, and cellulosic ethanol at a CI of 20; and green hydrogen at a CI of -5. Individual companies/processes may have higher or lower CI scores used to calculate LCFS credits.

Commodities2h ago

Hungary Sees Temporary Relief for Paks Nuclear Plant, Reviews Expansion Plans

Hungary expects only limited improvement at its Paks nuclear plant as higher Danube water levels offer temporary relief, Prime Minister Peter Magyar said Friday.Magyar said rainfall in Austria should lift the Danube by about 20 centimeters over the next few days, but the increase is likely to prove temporary as dry weather returns, leaving operating conditions at the Paks nuclear plant difficult.The plant, which supplies almost half of Hungary's electricity, has operated at about 10% capacity since last week after prolonged heat and record-low river levels restricted cooling, according to a Reuters report.Magyar said another turbine could restart Monday, potentially doubling output.Magyar said cooler temperatures and stable energy and water supplies have eliminated the need for last week's electricity-saving measures, including reduced evening consumption and dimmed lighting in Budapest.However, Magyar said the government continues to prepare long-term solutions in case persistently low Danube water levels become permanent, stressing Hungary cannot rely on the Paks plant operating at sharply reduced capacity for months.Magyar also called for a review of the planned Paks 2 expansion, saying the project now costs roughly twice its original estimate after years of delays. He added current plans still rely on Danube water for cooling, making a redesign necessary.Magyar said Hungary remains committed to expanding renewable generation and will launch a tender for 700 megawatts of wind capacity by Aug. 31, supporting the country's target to build 4 gigawatts of wind power by 2030.

Commodities2h ago

Money Managers Stay Bullish in the Biofuels Markets, CFTC Says

Money managers remain net long in the soybean oil, D4 and D6 Renewable Identification Numbers, and ethanol futures and options markets, according to the Commodity Futures Trading Commission's weekly Commitments of Traders Report released Friday.The weekly COT Report, as of the week ending August 4, showed that money managers are net long, a bet that the market will go higher, in the California Low Carbon Fuel Standard market by 59,631 contracts, while producers/merchants/processors/users or physical market participants are net short by 83,375 contracts.The COT report showed that money managers are net long by 614 contracts in the D6 RINS Current Year futures and options markets. Industry participants are net long by 550 contracts.In the D4 Biodiesel RINS Current Year futures and options markets, money managers hold a net long position of 1,695 while physical market participants are net short by 3,534 contracts.For ethanol, money managers are net long by 5,590 contracts, while industry participants are net short by 4,252 contracts.Money managers are net long soybean oil futures and options by 80,681 contracts, while commercial market participants are net short by 172,471 contracts.Money managers are net short Malaysian palm oil futures by 3,475 contracts, while industry participants are net long by 6,857 contracts.

Commodities3h ago

Money Managers Stay Bullish in Crude Futures, CFTC Says

Money managers in the WTI crude futures and options markets maintained their net long positions in the week ended August 4, according to the Commodity Futures Trading Commission's latest Commitments of Traders report released on Friday.The data showed that money managers reported 191,726 long positions, down 3,309 from July 28, while short positions were up 3,948 to 90,676. Producers, merchants, processors, and users held 678,638 long positions and 331,275 short positions.

Commodities3h ago

US Biofuels Update: Soybeans Slip on Strong US Crop Outlook; Soy Oil, Ethanol Futures Rise

Biofuels feedstock futures closed mixed on Friday, with soybean futures falling on upside potential for this year's crop.The Chicago Board of Trade November soybean futures contract closed 0.13% lower at $11.76 1/4 per bushel, while the CBOT September soybean oil futures contract settled 0.74% higher at 68.24 cents per pound.The Nymex September ethanol futures contract settled 0.52% higher on Thursday at $1.94 per gallon.Rhett Montgomery, a DTN analyst, said that the soybean trade was very quiet through the latter half of the week, with traders awaiting August weather results as well as US Department of Agriculture input next week before placing their next round of price bets."Yield ideas for the upcoming US soybean crop remain stout in terms of history, with most estimates thus far falling in the 52-53 bpa range," Montgomery said.USDA announced on Friday sales of 238,000 metric tons of soybeans for delivery to China during the 2026/2027 marketing year. Also, 286,097 mt of corn were sold for delivery to Mexico.Of the total, 29,808 mt are for delivery during the 2026/2027 marketing year and 256,289 mt are for delivery during the 2027/2028 marketing year.

Commodities4h ago

US Battery Storage Boom Accelerates as Grid Adds About 52 GW of Capacity, EIA Says

The US power sector is rapidly expanding its battery storage fleet as utilities and independent power producers turn to large-scale batteries to balance rising renewable energy generation and capture higher electricity prices, Energy Information Administration strategists said in a note Sunday.The EIA analysts said battery storage capacity in the US grew at an average annual rate of 70% over the past three years, reaching 43.6 gigawatts of operational capacity by the end of 2025.The growth continued into 2026, with operators adding 8.3 GW of battery storage capacity in the first six months of the year, bringing total installed nameplate capacity to about 52 GW.The EIA said that developers are expected to add another 54 GW of battery storage capacity over the next two and a half years. Planned additions include 14 GW in H2 2026, 26 GW in 2027 and a further 14 GW in 2028, the agency said.Battery storage paired with solar projects is emerging as a key driver of the expansion. Solar-plus-storage facilities allow power producers to store electricity when wholesale prices are low and release it during periods of higher demand, improving project economics while helping grid operators manage fluctuations in renewable generation.The EIA said that the largest battery storage projects in the US are increasingly being built alongside photovoltaic facilities.The Bellefield Solar and Energy Storage Farm in California, which began operations in December 2025, combines 500 megawatts of solar generation with 500 MW of battery storage capacity serving the California Independent System Operator market.The project's developers plan to double both solar and storage capacity, with the additional capacity expected to come online by November 2026. The EIA said that if completed, the expanded facility would become the largest battery storage project in the US.Florida's Manatee Solar Energy Center, operated since 2021, currently ranks among the country's largest storage installations, with 409 MW of battery capacity paired with 75 MW of solar generation.Nevada's Gemini Solar Hybrid project, which began operations in 2024, combines 690 MW of photovoltaic capacity with 380 MW of battery storage, underscoring the growing trend of integrating large-scale batteries directly with renewable power plants.The surge in battery installations comes as utilities and independent power producers look to address the challenges posed by intermittent renewable generation. Storage systems can help smooth fluctuations in solar output, provide electricity during peak demand periods and reduce reliance on more expensive generation sources.

Commodities5h ago

US Natural Gas Update: Futures Rise as Strong Demand Offsets Bearish Storage Data

US natural gas futures rose on Friday as strong LNG demand and robust power consumption helped offset pressure from a larger-than-expected storage injection.The front-month Henry Hub contract and the continuous contract both rose 1.10% to $2.67 per million British thermal units.According to the US Energy Information Administration, working gas in storage increased by 33 billion cubic feet for the week ended July 31, above market expectations for a 30 Bcf injection, according to data compiled by Investing.com.Total inventories rose to 3,117 Bcf. The build exceeded the prior week's 27 Bcf injection, last year's 13 Bcf increase and the five-year average build of 23 Bcf, leaving inventories about 6.7% above the five-year average.Gelber & Associates said lower imports and strong export demand kept fundamental balances modestly supportive despite elevated production.Temperatures are expected to remain above normal through early next week, with power burn forecast to peak near 50.2 Bcf per day on Tuesday, Gelber & Associates said.However, cooler weather is forecast during the 11-15 day period, which could ease weather-driven demand later in August. The firm said ample inventories and sustained production continue to limit the bullish impact of the current heat.The EIA's 33 Bcf storage injection was modestly above expectations and weighed on the September contract, although demand fundamentals remained supportive, NRG Energy said, noting that US power burn is above 51 Bc/d and running 12% above the same period last year."Geopolitical tensions remain a key upside risk for oil and LNG markets as fighting between the US and Iran continues and shipping concerns around the Strait of Hormuz persist," NRG said.

Commodities6h ago

Update: US Active Rig Count Stays Flat, Baker Hughes Says

(Updated with additional details.)The combined count of crude oil, natural gas, and miscellaneous rigs in the US held steady at 588 in the week ending Aug. 7, according to data from Baker Hughes (BKR) released Friday.The US oil rig count increased by three from 451 the previous week to 454, while the number of gas rigs decreased by three from 127 the previous week to 124, the data showed.The number of miscellaneous rigs in the US remained the same at 10. The US had 411 oil, 123 gas, and five miscellaneous rigs in operation a year earlier.The consolidated North American oil and gas rig count, a key early indicator of future production levels, decreased by three to 804 from 807 the previous week.Price: $62.39, Change: $-0.36, Percent Change: -0.57%

$BKR

Commodities6h ago

US Active Rig Count Stays Flat, Baker Hughes Says

The combined count of crude oil, natural gas, and miscellaneous rigs in the US held steady at 588 in the week ending Aug. 7, according to data from Baker Hughes (BKR) released Friday.The US oil rig count increased by three from 451 the previous week to 454, while the number of gas rigs decreased by three from 127 the previous week to 124, the data showed.Price: $62.35, Change: $-0.40, Percent Change: -0.64%

$BKR

Commodities6h ago

US Active Rig Count Remains Unchanged, Baker Hughes (BKR) Says

$BKR

Commodities7h ago

US Solar Industry Faces Inverter Supply Shift After FCC Foreign Ban, Wood Mackenzie Says

The US solar industry is preparing for a major supply chain overhaul after Federal Communications Commission restrictions on foreign-made power inverters threaten to disrupt a market that has long depended on imports, Wood Mackenzie strategists said in a note on Friday.Wood Mackenzie analysts said domestic manufacturers are projected to have over 100 gigawatts of alternating-current photovoltaic and power-conversion-system inverter production capacity by the end of 2027.The shift comes as the US solar market moves away from overseas suppliers after the FCC determined that reliance on foreign inverters could pose national security risks linked to cybersecurity and economic vulnerabilities.Over the past decade, over 200 GW ac of solar inverters have been deployed across US commercial, industrial and utility-scale projects.Wood Mackenzie analysts said over 90% of those units were imported, with Chinese-headquartered manufacturers accounting for over 70 GW of deliveries, from factories in Southeast Asia.The consultancy said Chinese suppliers have strengthened their position in recent years, capturing almost half of the US inverter market in 2024 and 2025."The FCC's intent here is clear. The US government determined that the US's reliance on foreign inverters poses a national security risk, citing both cybersecurity and economic concerns," Joe Shangraw, research analyst at Wood Mackenzie, said.However, Shangraw noted that the ban's current definition of "power inverters" is based on wireless communications, which raises questions about application, particularly for utility-scale central inverters that operate over wired connections.The FCC restrictions have created uncertainty among solar developers, particularly over whether existing equipment could face limitations on software and firmware updates.Meanwhile, the transition toward domestic production is projected to increase costs for US solar projects in the near term as developers replace cheaper imported equipment with domestically manufactured alternatives.Wood Mackenzie expects average inverter prices in the US to rise in 2027 as procurement shifts toward products with higher labor, component and manufacturing costs.Over time, prices could ease as domestic production expands and competition increases.However, the scheduled phase-out of US clean energy manufacturing incentives under the 45x advanced manufacturing production tax credit beginning in 2030 could put renewed pressure on prices. This was especially noticeable in residential and commercial inverter markets.The US solar sector has sought to localize manufacturing following disruptions from global supply chain constraints, trade restrictions and efforts to reduce dependence on Chinese clean energy technology.

Commodities7h ago

Sembcorp Secures Approval for Cross-border Renewable Power Project

Sembcorp Industries said on Friday it had secured conditional approval from Singapore's energy regulator for a 300-megawatt renewable electricity import project from Malaysia, advancing the city-state's plans to diversify power supplies and reduce carbon emissions.The project, led by Sembcorp Utilities, will source electricity from a large renewable energy development at Linggiu Reservoir in Johor, Malaysia. It is designed to supply electricity to both Singapore and Malaysia and will use existing and planned subsea interconnection infrastructure to enable cross-border electricity flows.The development will comprise a 2.2-gigawatt-peak floating solar photovoltaic system and up to 4.3 gigawatt-hours of battery energy storage, with commercial operations expected to begin in 2029.The approval forms part of a broader EMA announcement granting conditional approvals for a combined 900 MW of electricity imports from Peninsular Malaysia.Separately, the EMA awarded Southern Solar Alliance, a wholly owned subsidiary of Malaysia's Ditrolic Energy Holdings, a conditional approval to import 600 MW of electricity generated from solar power and battery storage in Johor.The two projects are targeting commercial operations around 2029, subject to regulatory approvals, financing and power purchase agreements.The latest approvals build on growing energy cooperation between Singapore and Malaysia, following an earlier conditional approval for the import of 1 gigawatt of low-carbon electricity from Malaysia's Sarawak state and ongoing studies for a second electricity interconnection of up to 2 GW between Singapore and Peninsular Malaysia.

Commodities7h ago

Oil India's Q1 Rises on Higher Crude Output, Refining Margins

Oil India reported Q1 earnings on Friday, supported by higher crude oil production and stronger refining margins as the state-run explorer highlighted a new natural gas discovery in the Andaman Basin.Consolidated revenue from operations rose to 128.86 billion ($1.35 billion) rupees for the quarter ended June 30, compared with 87.50 billion rupees a year earlier.Standalone revenue from operations rose to 79.58 billion rupees for Q2, compared with 50.13 billion rupees in the year-ago period.Crude oil remained the energy firm's largest revenue contributor, with segment revenue climbing to 61.21 billion rupees, up from 33.12 billion rupees a year ago.Natural gas revenue rose to 15.26 billion rupees, compared to 14.69 billion rupees.Oil India said crude production from its mature oilfields increased to 950,000 metric tons during the quarter, up from 853,000 mt a year ago.The company achieved its highest-ever daily crude oil production of 10,921 mt, equivalent to 84,109 barrels per day, on June 27.Its refining subsidiary, Numaligarh Refinery, reported gross refining margins surged to $35.95 per barrel, up from $5.02/bbl, while distillate yield improved to 87.58% from 85.38%.Oil India said it discovered natural gas at the Vijaya Puram-3 exploratory well in the Andaman Basin, reinforcing the basin's hydrocarbon potential.The energy firm also completed a highly deviated exploratory well in Assam, achieving a record horizontal displacement of 3,116 meters for an onshore well.

Commodities8h ago

Plains All American Pipeline Reports Rise in Q2 Total Crude Oil Pipeline Tariff Volumes

Plains All American Pipeline (PAA), the Texas-based midstream company, on Friday reported total crude oil pipeline tariff volumes of around 10.6 million barrels per day, up from 9.66 million b/d in the corresponding quarter last year.For the quarter ended June 30, the company's Permian Basin operations accounted for crude oil pipeline tariff volumes of 8.05 million b/d, higher than 7.22 million b/d reported in Q2 2025.In Q2, natural gas liquids fractionation volumes stood at 97,000 b/d, compared with 151,000 b/d in the year-ago period, the company said in its earnings statement.NGL pipeline tariff volumes for the quarter were reported at 69,000 b/d versus 225,000 b/d in Q2 2025.Propane and butane sales for the quarter fell to 17,000 b/d, compared with 54,000 b/d last year.In Q2, the company "increased 2026 organic growth capital from $350 million to a range of $400 to $450 million, including a 75 Mbbl/d expansion of the Cactus III pipeline, Canadian gathering systems and Permian gathering projects across the Delaware and Midland basins," the statement said.Price: $22.81, Change: $-0.72, Percent Change: -3.04%

$PAA

Commodities8h ago

Emera Regulated Electric, Gas Businesses Post Higher Revenue in Q2

Energy services provider Emera Friday posted increases over the year in Q2 revenue contribution from its regulated electric and gas businesses.The regulated electric unit generated $1.77 billion in revenue in the three months ended June 30, up from $1.74 billion a year earlier.The regulated gas segment also recorded an increase in Q2 revenue to $369 million from $351 million, according to results.Its operational segment Florida Electric Utility contributed $1.19 billion in revenue in Q2, while Canadian Electric Utilities added $448 million. These compared with the Q2 2025 levels of $1.16 billion and $436 million, respectively.Other electric utilities generated $133 million in revenue, while gas utilities and infrastructure recorded $375 million. Revenues in the year-ago period were $145 million and $357 million, respectively.In the H1, the Halifax-headquartered firm said it has concluded its portfolio optimization strategy, with the regulatory approval of the New Mexico Gas divestment and closing of the sale of Grand Bahama Power.

Commodities8h ago

Market Chatter: Kazakhstan Crude Shipments Slow as CPC Disruptions Persist

Repeated drone strikes around the Black Sea export route pushed July crude loadings on the Caspian Pipeline Consortium more than 20% below plan, disrupting Kazakhstan's exports, Reuters reported Friday, citing four sources familiar with the data.The pipeline shipped about 1.2 million barrels per day to 1.3 million b/d in July, while August CPC Blend loadings have averaged about 1.1 million b/d to 1.2 million b/d, the report said, citing data from Kpler and two sources.The disruptions also weighed on Kazakhstan's production, which dropped 14% over the month as most of the country's crude exports depend on the CPC system, according to the report.Caspian Pipeline Consortium and Kazakhstan's Ministry of Energy did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Commodities1h ago