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European gas storage levels have fallen to their lowest point in 13 years as the region heads into winter, triggering concern among energy traders about potential supply volatility and elevated prices.
Prime Minister Andy Burnham announced Great British Grid, a government-backed entity designed to increase competition in electricity grid infrastructure and reduce energy costs for British consumers and businesses.
Shell projects record refinery profit margins of $42 per barrel in the third quarter, nearly double previous records, driven by global fuel shortages and geopolitical disruptions affecting supply.
U.S. oil and gas drilling activity increased this week, with total active rigs rising to 603, up 56 from the prior year, driven primarily by gains in oil drilling operations.
Despite record U.S. crude oil production reaching 13.8 million barrels daily in 2026, diesel prices remain at record highs with critically low inventories. The disconnect reflects refinery constraints and global market competition.
A successful Iran-linked cyber-attack on a British gas power plant has exposed vulnerabilities in hundreds of small generators, though government security upgrades are not mandated until the end of 2030.
