Latest attacks
** The United States conducted a new round of airstrikes early Monday targeting Iran after announcing the death of another American service member, hitting around a northwestern city believed to be home to underground missile bases. Iran responded by launching an attack targeting Bahrain, the home of the U.S. Navy’s 5th Fleet, and Kuwait.
Iran
** Iran’s Revolutionary Guards said on Monday they had struck U.S. military assets across the Middle East after another night of U.S. bombardment of Iranian cities, part of a cycle of attacks that has all but wrecked an interim ceasefire agreement.
Oil prices
** Benchmark Brent crude rose Monday above $90 a barrel, further fueling a global energy crisis sparked by the conflict. An average gallon of regular gasoline in the U.S. also rose to $4, a key metric for Americans that puts more pressure on their wallets ahead of midterm elections this fall. Benchmark Brent crude rose Monday above $90 a barrel, further fueling a global energy crisis sparked by the conflict. An average gallon of regular gasoline in the U.S. also rose to $4, a key metric for Americans that puts more pressure on their wallets ahead of midterm elections this fall.
Iraq
** Iraq is accelerating plans to build an oil pipeline to Mediterranean ports in Turkey and Syria as the prolonged blockade of the Strait of Hormuz continues to disrupt exports, Oil Minister Bassim Khudair said.
Canada
** The governments of Alberta and Canada have now joined together to propose a new oil pipeline capable of transporting oil from western to eastern Canada, to reduce reliance on U.S. infrastructure and develop new export markets. The proposal reflects a long-discussed idea that was eventually abandoned almost a decade ago.
India
** The Indian government has proposed stricter fuel efficiency regulations for passenger vehicles under the Corporate Average Fuel Efficiency (CAFE)-III norms, with the new fuel standards set to take effect on April 1, 2027. Released by the Ministry of Power for public consultation, these rules aim to lower vehicular emissions, decrease reliance on imported crude oil, and shrink the nation’s rising oil import bill.
US Energy
** U.S. gasoline pump prices crossed the $4 a gallon mark on Monday as renewed hostilities between the U.S. and Iran further disrupt energy flows through the Strait of Hormuz, a critical route for global oil supplies.
** U.S. oil and gas extraction employment fell to 114,500 workers in June, the second-lowest June on record, even though domestic output is near an all-time high. Chevron, ExxonMobil, BP, ConocoPhillips and Imperial Oil have all announced big layoffs this year, and it’s mergers and automation driving it, not falling oil prices.
** The Texas Public Utility Commission on Thursday unanimously approved rules that will require large computational loads, like data centers and crypto-mining facilities, within the Electric Reliability Council of Texas footprint to stay stable and connected to the grid through disruptions.
** Southcentral Alaska natural gas utility Enstar says it could run out of the fuel this winter after regulators deny its bid to use a depleted oil and gas reservoir as a storage facility.
** Officials plan to plug a historic abandoned oil and gas well in Glacier National Park in Montana after detecting a methane leak.
** The Electric Drive Transportation Association has filed for bankruptcy under Chapter 7, which typically signals liquidation, the Washington Business Journal reports.
** New Jersey Gov. Mikie Sherrill (D) signs a law that will allow data centers to gain priority in the interconnection queue if they fund residential clean energy and energy efficiency projects.
