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Saudis Turn to Russian Fuel Oil as Iran War Saps Fossil Power Supplies
Saudi Arabia continues to snap up high volumes of Russia’s fuel oil as the Hormuz crisis has forced ...
Stock Market Today: Dow Up, Big Tech Falls Amid These Rate Hike Calls; This AI Stock Tests Entry (Live Coverage)
The Dow Jones index rises as Treasury Secretary Scott Bessent makes an Iran move. Microsoft falls on...
TotalEnergies Plans $5.2 Billion Offshore Wind Project in Normandy
TotalEnergies has applied for authorization of France's biggest renewables project, a 1.5-GW offshore wind project off Normandy, which is estimated to cost $5.2 billion, the French supermajor said on ...
High Freight Costs Force Asian Buyers to Cancel U.S. LPG Cargoes
The Middle East supply crunch has led to soaring freight rates to ship liquefied petroleum gas (LPG) to Asia from other regions, prompting some buyers to cancel U.S. cargoes due to the high shipping c ...
Three Oil and Two Gas Carriers Clear Hormuz
Two supertankers and an LNG carrier have passed through the Strait of Hormuz this week and are currently en route to their destinations in China and India, Reuters reported today, citing data from Kpl ...
IEA Forecasts a $3.4 Trillion Energy Investment Boom
Global energy investment is set to jump to $3.4 trillion this year, the International Energy Agency said today, noting that the rise will be driven by countries’ efforts to address the second energy c ...
Oil Prices Jump After Fresh U.S. Strikes on Iran
Oil prices spiked once again in early Asian trade on Thursday after reports of fresh U.S. strikes on Iranian military targets reignited fears that the most recent round of peace talks could give way t ...
China Keeps Rare Earth Pressure on Washington After Trump Summit
Two weeks ago, U.S. President Donald Trump paid a visit to Beijing for a high-level summit with Chinese leader Xi Jinping, with a view to stabilizing bilateral trade, securing new business deals, and ...
Floating Solar Could Be a Lifeline for Land-Scarce Nations Facing Energy Crises
Floating solar farms could be significantly more efficient than solar farms on land thanks to the natural cooling effects of seawater, according to new findings from a comparative study conducted by r ...
Middle East Crisis Accelerates U.S.-Thailand LNG Supply Talks
The sudden halt of liquefied natural gas (LNG) flows from the Middle East has prompted Asian buyers to seek long-term solutions to secure supply from sources not needing the blocked Strait of Hormuz. ...
Germany’s Power Prices Soar 30% on Strong Demand, Low Wind Speeds
Germany’s day-ahead electricity prices soared by 29% on Wednesday as a heatwave across Europe boosted cooling demand while low wind speeds reduced wind power generation. The lower wind speeds and the ...
Aluminum Market Facing ‘Serious and Prolonged Supply Outage’
The war in Iran and the accompanying shipping bottleneck are triggering a historic crisis in the aluminum market, with potentially devastating knock-on effects across sectors that depend on the base m ...
UK Petrol Prices Hit Highest Level Since 2022
Petrol prices in the UK have hit a new high since the Iran war began, as the price of oil jumped back up to $100 per barrel following fresh US strikes. The average price of a litre of petrol is now 15 ...
U.K. Energy Bills to Jump 13% as Gas Shock Hits Households
UK energy prices will jump by 13% from July 1 after energy regulator Ofgem on Wednesday raised the price cap as a result of higher wholesale gas prices amid the Middle East crisis. The UK has a so-cal ...