Permian Basin
Energy
Geopolitics
US crude exports hit record 5.6 million b/d as Hormuz closure exposes futures market blind spot
Permian production and Iranian supply shock created a $50/barrel gap between physical and futures pricing, revealing systematic complacency about reconstruction timelines.
Energy
Markets
Texas Natural Gas Trades at -$7 While Europe Pays $17: The Infrastructure Paradox Threatening AI’s Power Strategy
Record Permian production meets pipeline gridlock, forcing producers to curtail output while global markets pay premiums—and data centers betting on stable gas face a reckoning.
Energy
Idle US Rigs Find New Life Abroad as Shale Economics Force International Pivot
With domestic rig counts down 30% since 2022 and bonus depreciation phasing out, American drilling contractors are shipping equipment to Argentina and Saudi Arabia to maintain revenues while US basins mature.