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News & Articles By Sterling Ashworth
06/11/2026
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By Sterling Ashworth
Kuwait Offers Crude to Asian Buyers for First Time Since 1990-91 Gulf War
Kuwait Petroleum Corp. (KPC) has offered crude oil to Asian buyers for the first time since the 1990-91 Gulf War, marking a significant shift in the state-owned company’s sales strategy, according to officials familiar with the matter. The offer involves direct sales to refiners in Asia, a departure from KPC’s long-standing practice of selling through […]
06/11/2026
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By Sterling Ashworth
U.S. Inflation Rises to 4.2% in May, Highest in Three Years; Trump Predicts Drop After Iran War
The U.S. annual inflation rate surged to 4.2% in May, up from 3.8% in April, according to Bureau of Labor Statistics (BLS) data released on Wednesday, June 10. This marks the highest 12-month inflation reading since April 2023. The increase was driven primarily by rising energy costs, the agency said. Core inflation, which excludes volatile food […]
06/10/2026
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By Sterling Ashworth
Russia Cuts Oil Exports Amid Ukrainian Drone Strikes and Domestic Shortages
Russia is reducing crude oil exports from its western ports to approximately 1.7 million barrels per day (bpd) in June, down from an estimated 2.5 million bpd in May, according to Reuters calculations cited by industry analysts. The cutback is driven by a combination of sustained Ukrainian drone strikes on oil infrastructure, domestic fuel shortages […]
06/07/2026
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By Sterling Ashworth
U.S. Oil Shocks Have Muted Impact on Employment, Fed Study Finds
A new study from the Federal Reserve Bank of Boston has found that oil price shocks add less to inflation than in the 1970s and that their effect on employment has largely vanished. Researchers estimated that a 33% price shock tied to the current war with Iran would add about 1.5 percentage points to inflation […]
06/05/2026
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By Sterling Ashworth
Indian Refiners Freeze Domestic Jet Fuel Prices Amid Supply Concerns
Indian refiners have frozen the price of jet fuel for domestic flights after airlines requested relief from recent fuel price increases, according to a Bloomberg report. In an additional concession, fuel makers also reduced the price of jet fuel for international flights, the report stated, citing unnamed spokespeople from state-owned refiners including Indian Oil Corp., […]
05/28/2026
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By Sterling Ashworth
China to Impose Mining Controls on Strategic Minerals Starting June 15
China plans to impose mining controls on certain strategic minerals to ensure supply security and protect finite resources, according to a government notification published by the official Xinhua News Agency. The new rules, which take effect June 15, will allow Beijing to control total output, restrict mining entities, and conduct security reviews on foreign investments […]
05/27/2026
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By Sterling Ashworth
China Added to Oil Stockpiles in April Despite Sharp Import Decline
China likely placed an estimated 430,000 barrels per day (bpd) of crude into strategic and commercial reserves in April, even as its crude imports slumped to the lowest level since July 2022, according to estimates by Reuters columnist Clyde Russell based on official data. [1] Crude imports fell 20% year-on-year to 9.25 million bpd in […]
05/25/2026
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By Sterling Ashworth
U.S. Lawmaker Introduces Bill to Codify Strategic Bitcoin Reserve
Rep. Nick Begich, Republican of Alaska, introduced legislation Thursday to permanently establish a U.S. strategic bitcoin reserve, according to a press release from his office. The bill, titled the American Reserve Modernization Act of 2026 (ARMA), is designed to codify President Donald Trump’s March 2025 executive order and give the reserve a durable legal foundation […]
05/24/2026
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By Sterling Ashworth
Rising Electricity Bills Emerge as Pivotal Issue in 2026 Midterm Elections
Average residential electricity rates increased nearly 13 percent from April 2020 to April 2025, according to the U.S. Energy Information Administration. Since President Donald Trump returned to office in January 2025, rates have climbed an additional 6 percent. The EIA projects another 6 percent increase nationwide in 2026, and economic development finance firm ICF warns […]
05/22/2026
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By Sterling Ashworth
U.K. Eases Some Russian Oil Sanctions as Fuel Prices Soar
The British government on Wednesday, May 20, waived sanctions on imports of diesel and jet fuel processed from Russian-origin crude in third countries, citing spiking fuel prices and supply security concerns, according to officials. Member of Parliament (MP) Dan Tomlinson, Exchequer Secretary to the Treasury, described the measure as “small and specific” and “time-limited,” designed […]
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