Fortune
์ค๋ ์ฑํฅ
๊ฒฝ์
Why oilโs not at $200 after the biggest supply shock in history
Global inventories are drawing down at a record pace, leaving the market increasingly vulnerable to fresh disruptions.
๐บ๐ธ ๋ฏธ๊ตญ ยท "DISRUPTIONS" ยท ์ด 19๊ฑด
ํํฐ ๋ณด๊ธฐํ์ฌ ์ง์
50.0
0 = ๋ถ์ ์ฐ์ธ
50 = ์ค๋ฆฝ
100 = ๊ธ์ ์ฐ์ธ
์ต๊ทผ 7์ผ ๊ธฐ์ค 11,359๊ฑด์ ๋ถ์ํ ๊ฒฐ๊ณผ, ๋ด์ค ์ฌ๋ฆฌ์ง์๋ 50.0(๊ท ํ)์ ๋๋ค. ๊ธ์ 1๊ฑด(0.0%)ยท์ค๋ฆฝ 11,357๊ฑด(100.0%)ยท๋ถ์ 1๊ฑด(0.0%)์ด๋ฉฐ, ์ค๋ฆฝ ๋น์ค์ด ๋๋ ทํ๊ฒ ๋์ต๋๋ค. ์ฑํฅ ์ง์๋ ์ข ํฉ 19.2(์ค๋ ๊ท ํ)์ ๋๋ค.
Global inventories are drawing down at a record pace, leaving the market increasingly vulnerable to fresh disruptions.
The latest movie from director Christopher Nolan is expected to generate massive numbers at the box office after Nolanโs last movie, โOppenheimerโ generated nearly $1 billion globally.
As global disruptions drive up Americansโ grocery and gasoline prices, lawmakers need to take a stand.
Copper is trading just above $14,000 a ton in London, roughly $500 shy of its all-time high set in January, and Wall Street thinks it has further to run. Goldman Sachs lifted its end-2026 copper price target by more than 10% this week, raising its forecast to $13,735/ton from a previous $12,465/ton. The revision is driven by a weaker-than-expected supply outlook: the bank slashed its global mine supply estimate by 350,000 tons, citing ongoing operational disruptions at Indonesia's Grasberg complex and Ivanhoe Mines' Kamoa-Kakula operation in theโฆ
This sponsored article is brought to you by Black & Veatch. The biggest challenge facing utilities today isnโt what it seems. Itโs not demand, even as load growth accelerates. Itโs not extreme weather, even as โmajor eventsโ become routine. Itโs not cybersecurity, even as connections expand across the grid. The real challenge is this: Distribution systems were designed for a different reality. Long gone are the days of predictable demand, one-way power flow and isolated disruptions. At Black & Veatch, we see that leading utilities are no longer debating whether to modernize. Theyโre deciding how quickly they can do it, and how to do it at scale. Across grid modernization programs globally, three truths consistently emerge. They define what it takes to prepare the distribution system for whatโs next: 1. Outage response is not a resilience strategy Resilience is being redefined in real time. A strategy centered on mobilizing crews and restoring service as quickly as possible is reactive, and increasingly insufficient. Resilience has to shift upstream into integrated system design. That starts with hardening. Stronger poles, undergrounding and structural upgrades all have a role, particularly in high-risk corridors. Weโre also seeing meaningful gains from how the network is configured and how quickly it can respond without waiting on manual intervention. This is where distribution automation programs can change outcomes. Strategically placed reclosers, automated switches and fault indicators help contain disruptions before they spread. When combined with feeder reconfiguration and updated protection strategies, distribution automation investments allow utilities to set more aggressive recovery targets and achieve measurable reductions in outage duration and customer impact. 2. Future-readiness depends on DERs at scale Forecasting is less and less reliable. Only 19 percent of utilities report strong confidence in their ability to predict future load growth, according to the Black & Veatch 2025 Electric Report. Distributed Energy Resources (DERs) like solar, storage, EVs and behind-the-meter generation are exciting solutions; but they fundamentally change how the system operates. Power is no longer just delivered. Itโs injected, stored and redirected in ways the system was never designed to manage. At scale, these challenges show up quickly โ particularly on feeders where distributed generation is approaching or exceeding hosting capacity. Protection coordination becomes more difficult when fault current comes from multiple directions. Voltage becomes less predictable as generation fluctuates throughout the day. And planning models must now account for highly variable, location-specific behavior. Distribution modernization is fundamentally changing how the system is designed and operated so it can absorb disruption, manage bi-directional flows and respond in real time. Adapting to bi-directional power flow requires more than incremental updates. Leading utilities are responding by building flexibility into the system, moving beyond static assumptions toward dynamic hosting capacity and interconnection studies, planning that incorporates DER, EV adoption and localized load growth, and infrastructure aligned with the communications and control needed to manage it. 3. The edge must be intelligent, visible and secure As system stress and complexity increase, utilities need far greater visibility and control over the network. Historically, utilities relied on customer calls, Supervisory Control and Data Acquisition (SCADA) at the substation level and field crews to understand what was happening on the system. That model doesnโt hold up. You canโt effectively manage a system you canโt see. Plus, the most critical events are increasingly happening beyond the substation โ on feeders, laterals, and at the edge where DER and customer behavior are interacting with the grid. Grid-edge technologies have become essential. Sensors, Advanced Metering Infrastructure (AMI) and automated switching provide the raw data and control needed to move from reactive to proactive operations. In more advanced deployments, utilities are creating centralized control environments that allow operators to see and manage the distribution system in near real time. That capability is enabled by: Advanced communications networks to form the backbone of real-time grid visibility Distribution Management System (DMS) and Outage Management System (OMS) to enable faster, more coordinated system response Analytics, AI and machine learning to improve situational awareness, anticipate system conditions, and support operational decision-making The same connectivity enabling this real-time visibility and control also introduces new vulnerabilities, blurring the line between physical and cyber risk, yet many utilities manage them separately. Only 22 percent have unified teams in place, even as threats continue to rise, including a 50 percent increase in substation attacks and growing exposure to malware and ransomware, according to the Black & Veatch 2025 Electric Report. Cybersecurity and resilient network design must be embedded into the architecture from the outsetโnot layered on after the fact. See what bolder vision looks like Distribution modernization is fundamentally changing how the system is designed and operated so it can absorb disruption, manage bi-directional flows and respond in real time. To learn about a successful program, check out Georgia Powerโs recent grid modernization program. Black & Veatch partnered with the utility on large-scale infrastructure upgrades. The results? Outages are down 76 percent, restoration times have improved by more than 80 percent and communities across Georgia are powered by a grid built to meet the future head-on. When the state faced the most destructive storm in the companyโs history, Hurricane Helene, Georgia Power deployed a rapid response team that utilized its โsmart gridโ and restored power to more than 1 million customers within days. A grid built to meet the future head-onโthatโs the result of bolder vision.
Travel experts say to be prepared for potential disruptions as countries implement the new Entry/Exit System now in place across the EU and other countries.
Commodity markets have spent the past three months performing an extraordinary balancing act. Despite one of the most significant disruptions to global energy flows in decades, the global economy has continued to function remarkably smoothly. After an initial spike, prices for several key commodities have stabilised or even eased. Yet this apparent calm is deceptive. The reason the system has held together is due to governments, producers and consumers drawing down the buffers that normally protect the global economy from disruption. Those buffersโฆ
Iran is reviewing the latest U.S. ceasefire proposal, raising hopes of a truce extension and tempering oil prices as traders weigh the risk of renewed Middle East disruptions. Ukraineโs Refinery War Gives Russian Crude an Export Passport - Ukraine is inadvertently pushing increasing amounts of Russian crude into the export markets as Kyivโs intensified drone strikes on Russiaโs downstream assets free up more oil. - Russiaโs seaborne exports in 2026 to date have averaged 3.46 million b/d, the highest pace of loadings sinceโฆ
Trump's Iran war reshaped European energy markets as Hormuz disruptions drove EU buyers toward U.S. LNG deals signed under wartime pressure.
An Amtrak track car fire near New York's Penn Station has snarled rail traffic, caused damage and resulted in several people being injured.
Oil prices rose on Thursday after fresh U.S. strikes in Iran renewed concerns over disruptions to commercial shipping through the Strait of Hormuz.
Indian Prime Minister Narendra Modi's appeal to curb foreign travel is proving to be a boon to the local travel industry.
Concerns include international growth and margin compression as well as pressures from inflation, energy costs and potential supply chain disruptions.
With jet fuel shortages changing the way Americans travel, experts are warning that flight cancellations and last-minute disruptions might became inevitable.
Oil prices were sharply lower on Monday following comments by President Donald Trump that diplomatic negotiations with Iran are advancing, easing market fears of severe energy supply disruptions due to the Middle East conflict. Brent crude for July delivery fell 5.9% to trade at $97.44 per barrel at 7.45 am ET in Mondayโs early morning session, slipping below the $100-per-barrel mark for the first time in nearly three weeks while the corresponding WTI contract fell by a similar margin to trade at $90.99/bbl. Easing inflation and supply concernsโฆ
Europe could face a critical shortfall in natural gas stocks if shipping disruptions through the Strait of Hormuz persist for another 1-3 months, senior executives at Norwegian energy giant, Equinor ASA (NYSE:EQNR), have warned. Europe entered the current summer refill season with severely depleted gas reserves, with gas stores only 28% full following a prolonged winter. Europeโs storage levels are currently at 35-37%, significantly below the 50% seasonal norm, increasing the risk that the continent will miss its usual 90% target at the beginningโฆ
Norway, well known for its oil and gas production, has ramped up its fossil fuel output in recent weeks to fill the gap following the closure of the Strait of Hormuz and the ongoing energy trade disruptions. While some countries are grateful to Norway for helping alleviate oil and gas shortages, environmentalists have critiqued the move, suggesting that more of a focus must be placed on increasing the regionโs renewable energy capacity. Norway appears to have taken on the role of โEuropeโs saviourโ as it stepped in to replaceโฆ
Global oil markets remain under severe stress as Hormuz disruptions, weak economic data, and tightening inventories reshape energy flows worldwide. Friday, May 22, 2026 In a week of contradicting narratives, the largest ever US inventory drawdown sparked only a minor bullish moment as media reports of some form of negotiations between the US and Iran continue to resonate. With Europe posting its worst macroeconomic numbers since 2023 and the IEA warning of oil markets hitting the โred zoneโ by July-August, ICE Brent is unlikely to fallโฆ
Hyperscalers are pushing the Gulf to rethink internet infrastructure as AI raises the stakes of cable disruptions.