Oil Soars Over 10% In OTC Trading, Whether That Sticks Depends On How Long The War Lasts

Australia Considers Emergency Powers To Protect Domestic Gas Supply Authored by Tsvetana Paraskova via OilPrice.com, Australia’s government intends to consider using emergency powers to protect domestic natural gas supply in case of a shortfall on its east coast in the third quarter of 2026. The potential consideration of using such powers would be part of the steps the Albanese Government is taking to secure domestic gas supplies for Australian households and industry as the Middle East conflict disrupts global energy markets. Australian Minister for Resources, Madeleine King, has given notice of her intention to consider...

Wheat Spread Blows Out As Drought Chaos Plagues America's Breadbasket Hard red winter wheat (HRW) futures widened to their largest premium over soft red wheat (SRW) in more than two years as severe drought intensified across key breadbasket regions in the Great Plains and Midwest. This means traders are pricing in weather impacts and tightening expectations for higher-protein wheat supplies. It is important to note that HRW is a more valuable protein and is primarily used in bread, rolls, and all-purpose flour. It is grown in the U.S. Plains (Kansas, Oklahoma,...

China Revives Heavy Naval Firepower With New 155mm Gun That "Could Support An Attack On Taiwan" As modern naval combat increasingly relies on aircraft, missiles and unmanned systems, China is investing in a capability many navies have largely moved away from: heavy naval artillery, according to South China Morning Post. Recent reports indicate that the PLA Navy is testing a new 155mm naval gun, a calibre larger than any main gun currently in active naval service. The weapon has been observed aboard the experimental vessel Wu Yunduo, which appears to have...