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European Natural Gas Futures and U.S. Crude Output Surge

February 13, 2025

European natural gas futures have pulled back slightly below €56 per megawatt-hour (MWh), though still hovering near a two-year high of €58.039 per MWh reached on February 10. This price surge was largely driven by a tightening in inventories due to colder weather, a decrease in wind power generation, and the termination of Russian gas imports via Ukraine.

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Iraq's Fuel Smuggling Network Generates $1 Billion for Iran

December 03, 2024

A significant fuel oil smuggling network operating in Iraq has reportedly generated over $1 billion in annual profits for Iran, according to a recent Reuters report. The network, which has been active since Mohammed Shia al-Sudani became Iraq’s Prime Minister, involves diverting fuel oil from Iraqi asphalt plants to Asia. It comprises companies and individuals in Iran, Iraq, and several Gulf states.

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