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A report from congressional Democrats found the president purchased millions in oil and gas stocks during the war.

An oil spill from a damaged tanker off the coast of the United Arab Emirates has widened, satellite images showed, triggering more beach closures and raising environmental concerns.

EQT announced Monday it will merge with Range Resources, creating a natural gas powerhouse centered in the prolific Appalachian Basin.

While not the first spill since the war began, it underscores the escalating danger around the Strait of Hormuz, and at a fragile time for UAE tourism.

Oil prices fell as investors weighed the threat of further attacks on Saudi Arabian energy infrastructure against concerns that elevated prices could erode demand.

Algerian lawmakers approved sending troops to protect oil facilities in neighboring Niger, as the North African OPEC member stakes out a more assertive foreign policy.

Far-right presidential candidate Marine Le Pen vowed Sunday to allow France to prospect for oil again on its territory if she is elected in May, a proposal reminiscent of U.S. President Donald Trump's "drill, baby, drill " policy to speed up fossil fuel development.

The world's 2nd biggest LNG exporter is securing a hedge into U.S. markets to satisfy contract obligations in Asia and Europe.

Weeks before hosting COP31, Turkey is pitching itself as the key route for Gulf oil and gas. Its climate face and its fossil fuel strategy don’t match.

Iran's floating oil inventory has fallen to zero as the U.S. naval blockade tightens, but the IRGC may be shielded while civilians bear the pain.

An American company claims it holds the sole oil permits in Greenland after President Donald Trump announced massive resource exploration there.

{beacon} Energy & Environment Energy & Environment The Big Story Trump uses DPA to give $150M for gas and diesel President Trump invoked the Defense Production Act on Thursday night, announcing that the government would be spending $150 million toward boosting domestic gas and diesel production as the White House looks to ease consumer...

President Trump says Venezuela is not ready for elections, and he focuses instead on its oil. But Secretary of State Marco Rubio is nudging talks between opposing politicians.

Kalshi co-founder and CEO Tarek Mansour discusses the growing role of prediction markets in elections and the regulatory challenges facing the industry. Speaking with Tyler Kendall on "Bloomberg Tech," Mansour also comments on the company's proposed perpetual oil futures contract. (Source: Bloomberg)

The Trump administration said using the DPA funding will increase refining output and lower fuel prices for Americans. Experts are skeptical.

A tanker loaded with diesel fuel set sail Friday from Russia for the United States, the first shipment since President Donald Trump agreed a deal with Russian President Vladimir Putin to release more fuel into the global market.

The Kremlin said Friday that the first tanker carrying Russian diesel to the U.S. under the new import agreement has set sail, just two weeks after President Trump and Russian President Vladimir Putin finalized the deal.

A tanker carrying 40,000 metric tons of Russian diesel is heading towards New York, ship-tracking data showed on Friday, following an agreement reached ‌this month between Moscow and President Donald Trump.

Here’s what to know as the President officially determined energy production shortfalls to be a national defense risk.

President Donald Trump on Thursday night invoked a federal law to invest up to $150 million to boost domestic gasoline and diesel fuel production.

President Trump invoked the Defense Production Act on Thursday, announcing that the government would be spending $150 million toward boosting domestic gas and diesel production as the White House looks to ease consumer pain at the gas pump. The announcement was made in a presidential memorandum earlier on Thursday, but the president detailed the exact...

President Donald Trump announced on Thursday that he intends to use the Defense Production Act to bolster domestic oil refining capabilities in the hope of putting downward pressure on record-high diesel and gasoline prices. Trump told a crowd of supporters at a Sioux City, Iowa, campaign rally that he would be invoking the wartime production […]

President Trump announced Thursday that he invoked the Cold War-era Defense Production Act to enable his administration to offer financial incentives for oil-related activities, including drilling, building pipelines and storing liquid fuels.

Article URL: https://www.economist.com/finance-and-economics/2026/10/22/ai-compute-is-the-new-oil-and-needs-a-new-market Comments URL: https://news.ycombinator.com/item?id=50202671 Points: 22 # Comments: 12

Iran's state television reported that seven oil tankers either caught fire or were damaged by mines overnight Wednesday into Thursday after being targeted or striking naval mines in the Strait of Hormuz.