Oil edged up as traders assessed whether an Israeli attack in Qatar that escalated the conflict in the Middle East, the source of about a third of the world’s supplies, would imperil crude flows from the region. West Texas Intermediate climbed 0.6% to approach $63 a barrel after the Israel Defense Forces conducted a strike in Doha targeting the senior leadership of Hamas, which has been declared a terrorist group by the US and Europe. The leaders targeted by the strike, including Khalil al-Hayya, survived, according to Al Jazeera. The strike is the first Israeli attack in Doha since the beginning of the nearly two-year long conflict that has roiled global oil markets. The incident stands to jeopardize US efforts to reach a peace deal between Israel and Hamas, which could have siphoned any remaining Middle East risk premium out of crude. Israel said it takes full responsibility for the attack and that it was a “wholly independent” operation. Qatar has reinforced its role as an international middleman throughout the Israel-Hamas conflict, at one point helping to mediate a short-lived ceasefire between the warring sides. Doha also has drawn criticism from Israeli and American leadership for its willingness to host Hamas’ political bureau.  Oil’s underwhelming reaction to the armed conflict between Israel and Iran in June foreshadowed that Tuesday’s rally wouldn’t last, said Karen Young, a senior research scholar at Columbia University’s Center on Global Energy Policy.  “We’ve really disaggregated regional conflict risk from oil price until there is an escalation that directly targets oil infrastructure or movement,” she said. However, “this is going to have long-term ramifications on Israel’s ability to have regional partners, particularly in energy deals.” Elsewhere, Ukraine is forging ahead with a military campaign targeting Russia’s energy infrastructure, striking part of the Kuibyshev-Lysychansk oil pipeline overnight.

The global market for liquefied natural gas faces a multiyear supply glut starting in 2026, potentially pushing prices for the crucial fuel to the lowest since the energy crisis triggered by Russia’s full-scale invasion of Ukraine. After four years of tight markets, the International Energy Agency expects the biggest boost in LNG production next year since 2019. Exports from the US are already booming as Venture Global Plc’s new plant in Plaquemines, Louisiana ramps up faster than expected, and more big projects will follow with the enthusiastic support of the Trump administration. Meanwhile in China, which was supposed to be the main growth market for the fuel, imports are contracting. The country’s domestic gas output has risen and a major pipeline deal with Russia is seen further squeezing its LNG purchases. LNG gluts have been predicted before and failed to materialize, but this time looks different because so much new capacity is on the brink of completion. Industry executives gathering in Milan this week at the Gastech conference will be discussing trends that could bring cheaper power and lower heating costs to consumers around the world, while also accelerating the shift away from dirtier fuels such as coal and oil.  “With more LNG capacities coming online in 2026, the market should loosen after the first quarter,” said Aldo Spanjer, head of energy strategy at BNP Paribas SA. “We’re going to see supply length coming in toward the second half of 2026 and into 2027.” Consumers shouldn’t expect immediate price relief, especially in Europe where winter is set to start with lower inventories than usual. Over the next six months, the supply buffer will remain slim and the region will still be competing with Asia for LNG cargoes, with the potential for price spikes in colder periods, said Martijn Rats, global commodities strategist and head of

Afentra plc said it has signed heads of terms with Angola’s National Agency of Petroleum, Gas and Biofuels (ANPG) for the risk service contract (RSC) for offshore Block 3/24, located adjacent to its existing Block 3/05 & 5A interests in Angola. The formal award of the license is expected in the coming months following the completion of the government approval process, Afentra said in a news release. Block 3/24 contains five oil and gas discoveries all located in shallow water, with several exploration prospects identified within the acreage on existing 3D seismic, according to the release. Its proximity to Block 3/05 offers short-cycle, low-cost development potential, Afentra said. The granting of the license will increase Afentra’s gross offshore acreage position increases to 810 square kilometers from 265 square kilometers, the company said. Under the agreement, Afentra will become the operator with a 40 percent interest in the block, along with Maurel & Prom Angola S.A.S. holding a 40 percent interest and Sonangol E&P with 20 percent. There will be an initial five-year period to review the development potential for existing discoveries and exploration prospectivity with a 25-year production period that will be awarded when a discovery is developed, according to the release. Block 3/24 covers 210 square miles (545 square kilometers) and is adjacent to Afentra’s existing producing oil fields and undeveloped discoveries in Blocks 3/05 and 3/05A, the company said. The block adds a further five discoveries: Palanca North East, Quissama, Goulongo, Cefo and Kuma. The discoveries are all located in the same Pinda reservoir as the existing oil fields in Blocks 3/05 and 3/05A, Afentra said. The block also contains the previously developed Canuku field cluster, which has produced up to 12,000 barrels of oil per day. The block is estimated to include over 130 million barrels of

Malaysian energy giant Petroliam Nasional Bhd. said it was working closely with authorities after the government tightened security at one of the world’s largest liquefied natural gas facilities in Sarawak state. A Petronas employee at the company’s headquarters received text messages that threatened to burn the LNG facilities from a phone number registered in Indonesia, Bernama reported, citing Deputy Prime Minister Fadillah Yusof. The matter is under police investigation, he added. The oil and gas company said there had been no impact to its operations or disruptions to its supplies, adding that the safety and wellbeing of its employees and contractors remained its highest priority. Petronas’ complex in Bintulu, on the Sarawak coast, spans 276 hectares (682 acres) and has a production capacity of nearly 30 million tons per year, according to its website. The National Security Council said on Monday it received information on a security threat against the LNG plants.  WHAT DO YOU THINK? Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Dive Brief: Hawaiʻi and Wisconsin joined the Affordable Clean Cars Coalition last week, increasing membership to 13 state governors.  Launched in May, the coalition aims to promote more affordable electric vehicles, support U.S. automotive manufacturers and preserve states’ authority under the Clean Air Act. The coalition was formed by the U.S. Climate Alliance, a bipartisan group of 24 governors. States will address their own challenges and opportunities while working together to achieve the coalition’s collective goals, the Climate Alliance said in a press release. Dive Insight: New electric vehicle sales were strong in the past two months as buyers rushed to take advantage of federal incentives before they expire Sept. 30. However, the share of EVs compared to total automotive sales declined in the second quarter both year-over-year and compared to the first quarter, according to CleanTechnica.  “Sales of EVs will likely fall dramatically when tax credits expire,” said Cox Automotive Senior Economist Charlie Chesbrough in an August 27 statement. A further blow to EVs came in June when Congress and the Trump administration ended California’s authority to set its own stronger vehicle emission standards. A 1990 federal law allows 17 additional states and the District of Columbia to follow California’s vehicle emissions regulations. The Alliance for Automotive Innovation, representing many of the industry’s automakers and suppliers, supported the administration’s actions. “An aggressive regulatory push toward battery electric vehicles – ahead of consumer demand and without market readiness – will reduce U.S. vehicle production and auto jobs versus a more balanced approach that prioritizes and preserves vehicle choice,” said the group’s president and CEO, John Bozzella, in an April 29 blog post. The coalition’s 11 initial governors said in a May 23 statement that “The federal government and Congress are putting polluters over people and creating needless chaos for consumers

James Conlin is a director of product for Sharper Shape. As power grids grow older and climate threats intensify, electric utilities face urgent pressure to modernize. Meeting today’s expectations for resilience, safety, and efficiency depends not just on upgrading physical infrastructure, but on having the right data — accurate, timely, and scalable insights into assets across vast and varied terrain. One technology is rapidly changing how utilities manage their infrastructure: LiDAR (Light Detection and Ranging). LiDAR captures millions to billions of precise, high-resolution 3D data points — forming what’s known as a point cloud. These point clouds create detailed digital models of utility networks and their surrounding environments, mapping everything from power lines and substations to terrain and vegetation. This level of visibility is critical for planning, maintenance, risk mitigation, and emergency response. But collecting LiDAR data is only the beginning. The real value comes from turning that data into something useful. That’s where classification comes in. Raw LiDAR point clouds are essentially unstructured spatial data. Each point marks a location in space but offers no context on its own. Is it part of a wire, a tree, or the ground? Without classification, there’s no way to know. Classification assigns meaning to these points by labeling them according to what they represent, transforming raw data into actionable information. For electric utilities, this process is essential. It enables vegetation management by identifying growth that’s encroaching on power lines before it becomes a hazard. It supports asset inspection by helping monitor conditions such as wire sag, pole tilt, or equipment degradation. It ensures compliance and safety by verifying that infrastructure meets required regulatory clearances. It aids in disaster modeling by identifying potential risk zones for wildfires, floods, or storms. And it guides system upgrades by informing the design of new infrastructure or