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Fundamentals, analysis and the latest from authoritative sources.
The Intermittency Problem: Why Adding Renewables Is the Easy Part
Solar and wind produce when the weather says so, not when demand says so. What that costs, at four different timescal...
Aug 26, 2026 basicsTwo Carbon Markets: How Compliance and Voluntary Actually Work
One market exists because a government made it exist. The other exists because a buyer chose to show up. Everything e...
Aug 26, 2026 basicsCrack Spreads Across the Barrel: Light, Middle and Heavy
A crack spread is the price of refining, not the price of oil. What each cut of the barrel is, how its crack is quote...
Aug 26, 2026 analysisThe Atlantic–Pacific LNG Arbitrage: How Price Decides Where a Cargo Goes
JKM minus TTF is not the arbitrage. The arbitrage is JKM minus TTF minus the cost of sailing further — and in 2026 th...
Aug 26, 2026 analysisBig Oil's 2026: A Windfall, and Five Different Bets on the Transition
The five supermajors earned USD 70.6 billion in the first half of 2026. Where it came from, what the market paid for ...
Aug 26, 2026 basicsWhat Is Risk Management?
Risk management as a repeatable process — identify, measure, monitor, mitigate — and the frameworks that formalise it.
Jul 6, 2026 basicsThe Four Financial Risks
Market, credit, liquidity and operational risk — the four buckets almost every financial exposure falls into.
Jul 6, 2026 basicsHow Futures Contracts Work
Futures explained — the contract, long vs short, margin, mark-to-market, and how they turn into a hedge.
Jul 6, 2026 analysisThe Global Gas Trinity: Henry Hub, TTF and JKM
Why three regional benchmarks — not one global gas price — govern LNG risk.
Jul 5, 2026 basicsWhat Is Value at Risk?
A plain-English introduction to VaR and what it does — and does not — tell you.
Jul 4, 2026Around the web
- Oil Market Report — IEA
- Short-Term Energy Outlook — U.S. EIA
- Commodity Markets Outlook — World Bank