EQT will buy Range Resources in an all-stock deal that creates the largest vertically integrated U.S. gas producer, with 9 Bcfe a day of Appalachian gas.

Oilfield services giant SLB (NYSE: SLB) reported better-than-expected third-quarter earnings on Friday

European natural gas prices climbed to nearly 90 euros per MWh, the highest since 2022, as Middle East escalation and low storage threaten winter supply.

Woodside reports stronger third-quarter LNG production and revenue, narrows its 2026 output guidance, and advances major energy projects.

TotalEnergies expects exceptional third-quarter refining and LNG earnings as the Middle East conflict drives up fuel margins, gas prices and trading profits.

Despite July setting a record for heat, U.S. natural gas prices fell 6% year over year from June through August, with Henry Hub averaging $2.93 per million British thermal units. Over the same period, dry gas output rose by 2.7 billion cubic feet per day, while solar generation increased by 19.4 billion kilowatthours and wind by 9.3 BkWh. Inventories were 4% above the five-year average. Rapid growth in renewables and ample supply outweighed the demand boost from hotter weather.

LNG spot prices are climbing on seasonal demand, while some Asian importers are pulling back on purchases. September LNG arrivals in Asia are expected to fall year over year, even as European imports rise this month and next because EU gas storage remains well below the five-year average for this time of year. Spot LNG prices have climbed 150% since February.

Three-month copper on the London Metal Exchange hit a record $14,779 a ton on Tuesday, taking its year-to-date gain to nearly 18%. Over the same period, global smelting economics deteriorated sharply as spot treatment and refining charges fell to about negative $127 a ton, effectively forcing smelters to pay miners to process concentrate. China, which smelts roughly half of the world’s copper and has accounted for more than 90% of global smelting capacity growth since 2005, has continued to tighten its grip on processing.

London Metal Exchange copper futures hit a record high on Tuesday, reaching $14,533 a ton, up 17% this year. Traders expect potential U.S. tariff policy to pull large volumes of copper into U.S. warehouses, and the U.S. has overimported 730k MT year-to-date, tightening supply elsewhere. Scrap copper remains tight, with secondary rod output down 50% y/y, while inventories in China have fallen sharply both upstream and downstream, adding support to prices.