Market news and commentary
Reporting market moving events as they happen
Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well- informed decisions.
Our world-class team of market reporters and journalists specialise in the coverage of commodity markets across the globe. We are in constant contact with industry participants, revealing, reporting and analysing the events that shape the global energy and commodities landscape.
With our news and market commentary opportunities to further your strategies are uncovered and clarified. We illuminate specific aspects of the markets directly relevant to your business.
Global coverage through a local lens
143,000+ news, commentary and analysis articles published each year
As markets move, so does our coverage. Every day of every month of every year, we are tracking, analysing and commentating on every market
800+ news stories published every day
We are constantly publishing insightful new stories throughout the day, reporting events that shape the global energy and commodities markets
500+ editorial staff globally
Our specialist team of reporters and journalists are located where the action happens, reporting from every key energy and commodity hub across the globe
Latest news
Explore the latest market moving news from Argus.
US utilities boost capex plans to records on AI demand
US utilities boost capex plans to records on AI demand
Houston, 27 February (Argus) — US utilities are boosting five-year spending plans to record heights to chase an unprecedented wave of data-center driven electricity demand. The sector outlined during the last batch of quarterly announcements hundreds of billions of dollars in investment for plans to support the power needs of artificial intelligence (AI) development that dwarf traditional load growth. Dominion Energy boosted its five-year capital expenditure (capex) plan to $65bn, citing accelerating demand in Virginia's "Data Center Alley." Southern Company lifted its program to $81bn, calling the moment a "watershed" for economic development across the Southeast as hyperscaler projects stack up. In Texas, Oncor raised its plan to a record $47.5bn, driven by a deluge of data center requests. Duke Energy raised its spending plan to $103bn, which the company said is the largest among regulated utilities. The moves underscore how the country's biggest data center markets are retooling their grids — adding transmission and gas-fired generation, hiking nuclear uprates, and extending the lives of coal assets facing closure — to keep pace with multi gigawatt loads that surpass existing capacity. The enormity of the investment figures and the scale of the projects call into question whether the forecasts are justified or even feasible. "Utilities generally adjust their large-load forecasts based on requests they are receiving from potential customers, so the increases from last year are well justified under a traditional load forecasting methodology," said Julia Hoos, head of USA East, at Aurora Energy Research. "That said, the more projects are asking to be interconnected, the more skeptical we have to be about them being realized." Pressure in the pipeline Gas and power utility Southern said its large-load pipeline in Alabama and Georgia grew to over 75GW. Texas distributor Oncor said its queue stood at an astonishing 225GW, or about a fifth of current US power generation capacity which is greater than the capacity of many industrialized nations like France and the UK. "Very few forecasts are taking into account the likelihood that large loads are shopping around with multiple utilities or that projects are often very delayed," said Hoos. Dominion, whose service territory covers the largest concentration of data centers in the world in northern Virginia, appeared to acknowledge such concerns by defining how it decided which companies qualify as pipeline projects. "Our forecasted data-center demand through 2045 is more than covered by existing signed ESAs (energy service agreements) and CLOAS (construction letter of authorizations)," said chief financial officer Steven Ridge. "By working diligently through the existing backlog and connecting the existing projects under construction, we'd achieve our demand forecast for the next approximately 20 years." The rapid expansion of data centers has ignited concerns that utilities will shift the cost of new power plants and transmission upgrades onto households, driving up monthly electric bills. Rising consumer frustration over higher electricity prices has made the issue a flashpoint for regulators and utility executives alike. President Donald Trump highlighted these concerns during his State of the Union speech, announcing, without details, that he is negotiating a ratepayer protection pledge that would require major technology firms to construct and fund their own dedicated generation. By Jasmina Kelemen Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US rPET demand under sustained pressure: PRC
US rPET demand under sustained pressure: PRC
Houston, 27 February (Argus) — Weak demand for US rPET dominated discussions at the Plastics Recycling Conference this week as buyers pull back, brands extend sustainability timelines, and low-priced imports and virgin PET intensify competition. Market deterioration continues as major recycler Evergreen Recycling, which filed for bankruptcy early last year, shut its plants in Clyde, Ohio, and Albany, New York, this week after its revolving credit lender moved to seize assets, forcing an immediate halt to operations, according to a 24 February Workers Adjustment and Retraining Notification (WARN) notice filed with the Ohio Department of Job and Family Services. Evergeen was one of the largest US rPET suppliers, and the plant closures reduce available recycling capacity. PET recyclers are facing mounting strain as rPET imports continue to displace US material, making it harder for recyclers to compete. "With the five closures, we've estimated about a 16pc capacity reduction, and it's exacerbating the problem," Laura Stewart, executive director of National Association for PET Container Resources (NAPCOR), told Argus in an interview at the conference, held in San Diego, California . "If domestic PET recyclers can't process bales and find strong end markets, it's going to be a challenge to keep the system going." Participants also noted that PET bottle recycling rates remain near 30pc nationwide and vary widely between states. California reclaimers described similar weak conditions, with persistently low prices failing to cover rising labor and processing costs. Several reclaimers said state-level subsidies are needed to maintain operations until demand improves, given the tightening margins across the market. "At the end of the day, you can't run a business on vibes. You've got to make payroll," said Paul Bahou, president of California-based Global Plastics Recyling. Bahou argued that subsidies are needed to ensure that the bottles that are collected can actually be recycled. "Collections is not recycling," Bahou said. "You need to take it [recycleable material] all the way." Bale pricing in California was described as stable but vulnerable to external shifts. Weakened purchasing activity from Mexico, traditionally a major buyer of US PET bales, has removed a key outlet for west coast supply, contributing to the soft demand environment. Conference discussions also highlighted structural limitations in the US system, including uneven access to recycling, competition with low priced virgin PET and limited domestic wash line capacity. The sudden loss of Evergreen's two plants intensified concerns that without stronger, more consistent end-market demand, US recyclers will continue to face financial pressure even as recycled content mandates expand. By Dona Davis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
China's GWM to build second car factory in Brazil
China's GWM to build second car factory in Brazil
Sao Paulo, 27 February (Argus) — Chinese automaker Great Wall Motor (GWM) will build a second car factory in Brazil, which could drive domestic flat steel demand up. GWM's new factory, in southeastern Espirito Santo state, will have a nameplate capacity of 200,000 vehicles/yr, four times larger than its first Brazilian plant , according to the state government. The facility is part of the company's R10bn ($1.9bn) investment plan in Brazil through 2032. GWM sells mostly electric vehicles (EVs) in Brazil, but it has a couple of internal combustion engine (ICE) models as well. It is still unclear which model the automaker will manufacture in the plant, but the Haval H4, a compact SUV, is a strong contender. Given the popularity of this car category in Brazil, demand for the H4 would likely be in line with the new plant's capacity. The H4 is sold in other Latin American countries as a hybrid vehicle under the name of Haval Jolion Pro. Since the factory will be built from scratch, it is difficult to pin an inauguration date as construction work in Brazil often faces delays. GWM has close ties with the Espirito Santo government, having used the state's main port, Vitoria, as an import hub for all the vehicles it brought from China to Brazil. GWM plant could drive domestic steel demand Construction is expected to use from 40,000-70,000 metric tonnes (t) of steel, according to the Espirito Santo government. Most of the flat steel used during the building phase will likely be sourced from domestic producer ArcelorMittal. The new factory aligns with the steelmarker's plans to build a cold-rolling mill in Tubarao — also in Espirito Santo — which is its largest plant in Brazil, the company told Argus . ArcelorMittal announced in 2025 a R4bn ($777.4mn) investment to boost steel output in Brazil, but it has yet to officially decide where to allocate the resources . The company expects to make a final decision by the end of the first quarter. The GWM project could signal that ArcelorMittal may ultimately favor Espirito Santo over expanding its Pecem plant, in northeastern Ceara state. Construction is also expected to use 200,000-350,000t of concrete. By Pedro Consoli and Isabel Filgueiras Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Venezuela reviewing latest ad-hoc oil contracts
Venezuela reviewing latest ad-hoc oil contracts
Caracas, 27 February (Argus) — Venezuela's state-owned oil firm PdV is reviewing 26 joint ventures granted from 2024-2025 to align them with changes to the hydrocarbons law or cancel them after the US has demanded reforms for investors. Now president Rodriguez began implementing new types of joint ventures, including some known as productive participation agreements (CPPs), after she took on the role of oil minister in October 2024 as part of her vice presidency. The arrangements could be retrofitted to match provisions under the recently modified hydrocarbons law, one PdV source told Argus , but more likely they may be cancelled. The 26 oil contracts granted after the ouster and arrest of former oil minister Pedro Tellechea in October 2024 and before the US seized former Venezuela leader Nicolas Maduro on 3 January are being reviewed, the PdV source said. Of those, 13 are CPPs. The PdV source said the US is pressuring Rodriguez to end those contracts since most of the other partners are non-US or little-known entities. "I think they will all be suspended," the source said. "What the Americans have told us is [any deals] need to be authorized by us." Rodriguez and Maduro granted the 26 deals in the two years but provided few public details. Even after Maduro was arrested on 3 January, Rodriguez still described the CPPs as a way forward to increase Venezuelan oil production. But once the law was modified the government and its partners were granted six months to adopt the contracts to the new law or cancel them. Sources say the arrangements were doomed to fail, since they were laboring from the beginning under the weight of US sanctions that are only now beginning to be lifted. "She granted two dozen contracts, but only five of those ... are in actual production", a former Venezuelan oil minister said. "Eliminating or retooling those contracts will have zero impact on production." Retooling those agreement or granting new ones may instead help to increase Venezuela's production from its plateau of about 1mn b/d in recent months. By Carlos Camacho Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Already a subscriber?
Log into Argus Direct now to explore our extensive catalogue of news, commentary and analysis articles.
Log in now
Business intelligence reports
Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.
Learn more