Oil bull run continues as EU agrees to ban most Russian oil
Oil prices extended a bull run on Tuesday after the EU agreed to a partial ban on Russian oil and China decided to lift some coronavirus restrictions amid rising demand Continue Reading
Oil Roars to Sixth Monthly Advance on EU Ban, China’s Reopening
EU Leaders Back Partial Russian Oil Ban: Von Der Leyen Oil headed for its longest run of monthly gains in more than a decade as European Union leaders agreed to Continue Reading
Global refiners falter in efforts to keep up with demand
Refiners worldwide are struggling to meet global demand for diesel and gasoline, exacerbating high prices and aggravating shortages from big consumers like the United States and Brazil to smaller countries Continue Reading
Miracle Fuel Hydrogen Can Actually Make Climate Change Worse
If it escapes into the air, this green fuel can contribute to global warming — which is why scientists say we need to limit leaks. A world desperate for a Continue Reading
Iran, Greek tanker troubles spook oil, shipping markets
Tehran detained Delta Poseidon, Prudent Warrior on May 27 US seized tanker carrying Iranian oil off Greece Iran nuclear deal unlikely ahead of US midterm elections, say analysts Geopolitical risks Continue Reading
Sri Lanka Inflation Jumps Close to 40% as Shortages Persist
Sri Lanka’s headline inflation quickened more than expected in May amid continuing food and fuel shortages, even as the country struggles to lift itself out of its worst economic crisis. Continue Reading
India plans to reduce power output from 81 coal plants, replace with green energy
Plans to help save 34.7 million mt coal Estimated carbon emission reduction by 60.2 mil mt Move aimed at meeting green energy targets India’s federal power ministry plans to reduce Continue Reading
China to halve purchase tax for small-engine cars
China’s purchase tax for small-engine cars will be halved, the s Ministry of Finance said on Tuesday, in a move to boost auto sales and support an economy damaged by Continue Reading
Decline in China’s factory activity slows as COVID curbs ease
China’s factory activity fell at a slower pace in May as COVID-19 curbs in major manufacturing hubs eased, but movement controls continued to weigh on demand and production, raising concerns Continue Reading
China announces detailed stimulus measures to support virus-hit economy
China’s cabinet announced a package of 33 measures covering fiscal, financial, investment and industrial policies on Tuesday to revive its pandemic-ravaged economy, adding it will inspect how provincial governments implement Continue Reading
Shanghai moves toward ending 2-month COVID-19 lockdown
Shanghai authorities say they will take some major steps Wednesday toward reopening China’s largest city after a two-month COVID-19 lockdown that has throttled the national economy and largely bottled up Continue Reading
Giant Deep Ocean Turbine Trial Offers Hope of Endless Green Power
IHI’s deep-ocean Kairyu has two counterrotating turbines. Tested in one of the world’s strongest ocean currents, a prototype generator could herald the start of a new stream of renewable energy Continue Reading
China’s Economic Downturn Shows Signs of Easing
Economic activity in China declined for a third straight month in May, though at a slower pace than in April, according to surveys of businesses and factories. But while the Continue Reading
As China’s Private Developers Retreat, State-Backed Rivals Gain Ground
A nearly yearlong shakeout in China’s housing market is throwing up some clear winners: state-owned developers. As former industry leaders from China Evergrande Group to Sunac China default on their Continue Reading
U.S. wheat crop hit by dry winter then soggy spring, adding to global tightness
North Dakota farmer Dwight Grotberg wanted to plant more wheat this spring to capitalize on soaring prices since Russia’s invasion of Ukraine cut grain exports and left the world short Continue Reading
Dreaded Commute to the City Is Keeping Offices Mostly Empty
The New York metropolitan area had the longest average commute time before the pandemic, according to the Census Bureau. It isn’t the office that workers heading into the city despise. Continue Reading
Trump Policies Sent U.S. Tumbling in a Climate Ranking
For four years under President Donald J. Trump, the United States all but stopped trying to combat climate change at the federal level. Mr. Trump is no longer in office, but his Continue Reading
Why U.S. Shale Firms Aren’t Likely To Change Their Growth Plans
Sky-high oil prices haven’t been able to bolster shale spending. Shale firms are sticking to their guns, prioritizing shareholder returns over everything. “Whether it’s $150 oil, $200 oil, or $100 Continue Reading
EU Leaders Back Push to Ban Most Russia Oil Over Putin’s War
European Union leaders agreed to pursue a partial ban on Russian oil, paving the way for a sixth package of sanctions to punish Russia and its president, Vladimir Putin, for Continue Reading
‘Best we could get’: EU bows to Hungarian demands to agree Russian oil ban
European Union leaders handed Hungary concessions to agree an oil embargo on Russia over its invasion of Ukraine, sealing a deal in the wee hours on Tuesday that aims to Continue Reading
Russia widens Europe gas cuts as Gazprom halts Dutch trader’s supply
Russia widened its gas cuts to Europe on Tuesday with energy giant Gazprom (GAZP.MM) turning off supplies to top Dutch trader GasTerra escalating the economic battle between Moscow and Brussels. Continue Reading
Europe’s dash for gas puts Australia’s LNG import plans at risk
Europe’s race to replace Russian gas supply has threatened Australia’s plans for five gas import terminals as they compete for key infrastructure, raising the risk of a supply shortfall in Continue Reading
EU ban on Russian crude to exacerbate disruptions to global flows
The European Union’s decision to cut 90% of its oil imports from Russia will accelerate a move already underway – that is Moscow trying to sell as much crude as Continue Reading
LSE says it halts trading in Gazprom’s securities at company’s request
The London Stock Exchange said on Tuesday it has canceled securities of Russian energy company Gazprom (GAZP.MM) from admission to trading at the company’s request. Gazprom said earlier this month Continue Reading
EU summit will not decide on gas price cap – EU Commissioner
European leaders, who will convene in Brussels on Monday and Tuesday for an EU summit, will not decide on imposing a cap on gas prices but could mandate the Commission Continue Reading
Britain could keep coal-fired power plants open this winter
Some of the British coal-fired power plants slated for closure this year might need to stay open to ensure electricity supply this winter, the government said on Monday. Countries across Continue Reading
Eurozone inflation hits record 8.1 per cent
Eurozone inflation rose faster than expected in the year to May, setting a new record for the single currency bloc of 8.1 percent and piling pressure on the European Central Continue Reading
Russia’s fraying economy: consumers start to feel the pinch of sanctions
Natalia Klyueva started her hunt for a new Moscow job in February — just before Russia’s invasion of Ukraine and the west’s wave of retaliatory sanctions. Three months later, the Continue Reading
Banks warn of grim prospects for pound as economy slows
The pound has lost ground against most key rivals this year © Charlie Bibby/FT A duo of Wall Street banks is warning on the “grim” outlook for the pound, predicting Continue Reading
Latest Russia-Ukraine War News: Live Updates
As Russian and Ukrainian forces traded blistering artillery barrages and engaged in fierce fighting across towns and villages in eastern Ukraine, European Union leaders gathered on Tuesday for the second Continue Reading
Denmark Fully Prepared To Be Cut Off From Russian Gas
Denmark has joined the list of countries refusing to pay for Russian gas using a ruble conversion scheme, prompting the country’s state-run gas company on Monday to warn that Gazprom Continue Reading
Mercedes-Benz eActros LongHaul with 500 km range to enter production in 2024
Following the market launch of the eActros for heavy-duty distribution transport in 2021, Mercedes-Benz Trucks is systematically pressing ahead with the introduction of additional battery-electric models for this and coming Continue Reading
Crude oil futures climb for eighth day as supply outlook remains bullish
Tightness in refined product markets continues to buoy oil prices Singapore 0.5%S marine fuel swap structure at all-time high Investors skittish after Iran seizes two Greek oil tankers Crude oil Continue Reading
Brent Crude Tops $120 as Shanghai Eases Curbs, EU Leaders Meet
Oil climbed as China eased anti-virus lockdowns and the EU worked on a plan to ban imports of Russian crude. Brent crude topped $120 a barrel, before paring some gains, Continue Reading
Oil prices climb to over 2-month highs ahead of EU meeting on Russia sanctions
Oil prices rose on Monday, hitting their highest in more than two months, as traders waited to see whether a planned European Union meeting would reach an agreement on banning Continue Reading
U.S., European thirst for fuel sends physical oil prices soaring
Sky-high refining margins for diesel and gasoline in Europe and the United States, driven by a cutoff in Russian supply, has sent prices for some types of physical crude oil Continue Reading
War in Ukraine adds to food price hikes, hunger in Africa
It now costs Ayan Hassan Abdirahman twice as much as it did just a few months ago to buy the wheat flour she uses to make breakfast each day for Continue Reading
OPEC+ looks to a future with Russia beyond the pandemic’s oil output cuts
Current OPEC+ supply agreement ends in September Quotas will need renegotiating, with credibility at stake Ministers to meet June 2 to set July production targets Come September, OPEC’s oil market Continue Reading
Shell greenlights $2.5 bln Crux gas project off Australia
Shell Plc (SHEL.L) said on Monday it had given the go-ahead to develop the Crux gas field off Australia, which analysts estimated would cost around $2.5 billion. Construction is expected Continue Reading
India plans to phase down at least 81 coal-fired utilities in 4 years – document
India plans to phase down at least 81 coal-fired utilities over the next four years, the federal power ministry told top energy department officials of state and federal governments in Continue Reading
Turkey rejects Indian durum wheat shipment on phytosanitary concerns: traders
Highlights Vessel expected to return to Kandla port by mid-June Indian traders concerned about vessels headed to Egypt, other nations Indian trade ministry may clear exports up to 1 mil Continue Reading
First hurricane of the eastern Pacific season approaches southern Mexico
The first hurricane of the eastern Pacific season strengthened on Sunday as it spiraled toward the southern coast of Mexico, with maximum sustained winds of 110 mph (177 km/h) that Continue Reading
Some in Beijing back to work, Shanghai inches closer to ending COVID lockdown
Streets in Beijing were busier on Monday as residents in two districts were allowed to return to work, while Shanghai inched closer towards lifting its two-month-old COVID-19 lockdown from Wednesday, Continue Reading
Toyota misses April global production target due to COVID, parts shortage
Japan’s Toyota Motor Corp (7203.T) on Monday said it missed its global production target for April as COVID-19 outbreaks and a parts shortage slowed its post-pandemic recovery. The world’s largest Continue Reading
Shanghai Lockdowns Slam Japanese Automakers’ Production in China
Japan’s top three automakers saw their output in China slashed by double digits in April, highlighting the toll Shanghai’s lockdown is taking on manufacturers operating in the world’s biggest car-producing Continue Reading
China falls short on big Pacific deal but finds smaller wins
China fell short Monday on a bold plan to have 10 Pacific nations endorse a sweeping new agreement covering everything from security to fisheries as some in the region expressed Continue Reading
Billionaire’s AGL Win Jolts Australia Awake to Climate Activism
Mike Cannon-BrookesPhotographer: Patrick T. Fallon/Bloomberg An Australian billionaire’s success in forcing AGL Ltd. to scrap a breakup plan and its top executives to step down may shake the status quo Continue Reading
Critical fire condition warnings issued across US Southwest
Warnings of critical fire conditions blanketed much of the U.S. Southwest on Saturday, as crews in northern New Mexico worked to stop the growth of the nation’s largest active wildfire. Continue Reading
Lease terms for California offshore wind projects released
The Biden administration has released the lease terms for offshore wind projects that would place hundreds of turbines in California’s coastal waters — the first such project off the nation’s Continue Reading
Analysis: How the Ukraine conflict is reshaping global oil markets
Russian sea exports to Asia hit 2.3 mbpd – Petro-Logistics U.S. crude discharges in Europe hit record in May – Kpler Russian oil exports back at pre-invasion levels – IEA Continue Reading