A grid-storage unit in West Sussex, U.K., part of a project from Renault SA and Connected Energy using second-life EV batteries from Renault vehicles. Millions of electric vehicles will be Continue Reading
The United States has a new plan to curb Russia’s oil revenue. The U.S. is in talks with European allies over a potential price cap on Russian crude. The goal Continue Reading
Some of the nation’s biggest food suppliers and restaurants, including Kraft Heinz Co. KHC 0.48%▲ and some McDonald ’s MCD -1.97%▼ Corp. franchisees, said they would continue to raise prices Continue Reading
Sri Lanka may be compelled to buy more oil from Russia as the nation faces shortages amid an unprecedented economic crisis, its prime minister told the Associated Press. Prime Minister Continue Reading
China’s capital Beijing is experiencing an “explosive” COVID-19 outbreak connected to a bar, a government spokesman said on Saturday, as the commercial hub, Shanghai,conducted mass testing to contain a jump Continue Reading
Highlights Countries from Mexico to Argentina look to buy for different reasons Subsidies keep local prices low but demand high in Latin America Latin American diesel saw its third big Continue Reading
A new report shows that U.S. oil and gas firms are underreporting methane leaks. The report suggests that much of the methane emissions appear to be caused by a small Continue Reading
The price of U.S. gasoline averaged more than $5 a gallon for the first time on Saturday, data from the AAA showed, extending a surge in fuel costs that is Continue Reading
There is little evidence that gasoline prices, which hit a record $5 a gallon on Saturday, will drop anytime soon. Rising prices at the pump are a key driver in Continue Reading
Norwegian oil workers and their employers have extended wage negotiations past a midnight deadline in a bid to avert a strike that could cut the country’s crude production, industry representatives Continue Reading
Almost the whole of Portugal was in severe drought at the end of May, the country’s weather service said Thursday. The month of May was the hottest in the southern Continue Reading
Andrey, a young car mechanic, was walking through the city of Horlivka in separatist-controlled eastern Ukraine with his friend Elena in late March when they were stopped by a military Continue Reading
The UK shipped 1.85 million barrels of gasoline to the United States in May. UK gasoline prices are as much as $3 per gallon higher than in the U.S. Taxes Continue Reading
Oil prices fell on Friday, after U.S. consumer prices rose more than expected and China imposed new COVID-19 lockdown measures. Brent crude fell $1.06 to settle at $122.01 a barrel. Continue Reading
Oil dipped at the end of the week — trimming a seventh weekly gain — as investors weighed China ’s bumpy return from virus curbs. West Texas Intermediate futures slipped Continue Reading
Energy prices would have to climb further for Americans to start cutting consumption, according to Goldman Sachs Group Inc. “Prices aren’t high enough yet to reduce demand growth sufficiently,” Damien Continue Reading
Algeria suspended a 20-year friendship treaty with Spain this week and moved to limit trade with its northern neighbour, raising more questions about the potential impact on the long-established gas Continue Reading
Saudi Arabia will ship lower-than-nominated crude oil volumes to some of its Chinese buyers next month. Many buyers in Asia have asked for more Saudi crude oil for July. This Continue Reading
Libyan oil production and exports are set to drop again after two export terminals were blocked on Thursday, and protesters threatened on Friday to close another oil port. Groups of Continue Reading
Protestors shut Sarir oilfield, Es Sider terminal Threat to exports at Ras Lanuf Port Analysts expect larger, longer supply outages Libya’s oil sector has been hit by more supply disruptions Continue Reading
The In Salah Gas (ISG) Krechba Project in the Sahara desert near In Salah, Algeria. Want the lowdown on European markets? In your inbox before the open, every day. Sign Continue Reading
India’s fuel consumption jumped 23.8% in May from a year earlier, continuing a recovery from a relatively low base in 2021 when the world’s third-biggest oil consumer was in the Continue Reading
June 11 (Reuters) – Iran and Venezuela on Saturday signed a 20-year cooperation plan, according to live coverage on Iranian state TV. The plan includes cooperation in the fields of Continue Reading
Highlights Countries from Mexico to Argentina look to buy for different reasons Subsidies keep local prices low but demand high in Latin America Latin American diesel saw its third big Continue Reading
Beijing and Shanghai both resumed mass testing for Covid-19 as new community outbreaks of the virus emerged just days after the two key Chinese cities eased social curbs that had Continue Reading
US defence secretary Lloyd Austin accused China of stepping up coercive behaviour towards Taiwan as he stressed that Washington would maintain its military capacity to resist any force that threatened Continue Reading
The power grid operator in the Central United States warned on Friday that problems it may experience keeping the lights on this summer could also occur during the summers of Continue Reading
Current tactics risk $150/b oil, $6/gal gasoline Import tariffs, transfer caps among options Energy sanctions against Russia need to be reconfigured to better target the country’s revenues from oil and Continue Reading
U.S. consumer inflation reached its highest level in more than four decades in May as surging energy and food costs pushed prices higher , with little indication of when the Continue Reading
The number of total active drilling rigs in the United States rose by 6 this week, after drilling increases stalled out in the week prior, according to new data from Continue Reading
U.S. President Joe Biden continues to look for ways to bring down the high cost of gasoline—and the latest efforts have him taking a hard look at U.S. refinery capacity. Continue Reading
US gasoline prices breach $5/gal level EIA forecasts maximum summer refinery utilization Russian diesel shortages have knock-on impact on gasoline With average US gasoline prices breaking the $5/gal level in Continue Reading
The average price of a gallon of regular unleaded gas in the U.S. hit $5 Friday night, and the rise in fuel costs is expected to persist throughout the busy summer driving Continue Reading
Some of the nation’s biggest food suppliers and restaurants, including Kraft Heinz Co. KHC 0.48%▲ and some McDonald ’s MCD -1.97%▼ Corp. franchisees, said they would continue to raise prices Continue Reading
An aging, polluting coal power plant in Missouri was headed for retirement this year. But because the region’s grid operator needs the plant’s electricity to reduce the risk of blackouts, Continue Reading
As US motorists pay record prices at the pump, Joe Biden has pleaded with the country’s oil producers to open the taps and stem the surge. But those calls — Continue Reading
Even before the start of the war in Ukraine, an international alliance to rally the world against a Russian invasion came together so quickly that President Biden later marveled at the “purpose Continue Reading
State-controlled Russian National Reinsurance Company (RNRC) is now the main reinsurer of Russian ships, including Sovcomflot’s fleet, after Western insurance firms withdrew cover for Russian shipowners, three people familiar with Continue Reading
Russia’s population is declining even as it emerges from the worst of the Covid-19 epidemic, underlining the government’s difficulties in reversing the slump as President Vladimir Putin wages war in Continue Reading
Now that the winter season ended, Germany has started the process of filling its natural gas storage sites via auctions. As prices have declined and are in contango, Europe’s biggest Continue Reading
Ukraine wants more artillery for battle in the east Mariupol mayor fears thousands may die from cholera there Food shortages caused by war could lead to hunger globally -U.N. KYIV, Continue Reading
Russian forces around Ukraine’s Sievierodonetsk had not made advances into the south of the city as of Friday, Britain’s Defence Ministry said on Saturday. “Intense street-to-street fighting is ongoing and Continue Reading
Global companies have racked up more than $59 billion in losses from their Russian operations, with more financial pain to come as sanctions hit the economy and sales and shutdowns Continue Reading
Image caption, Russia’s President Vladimir Putin has openly compared himself to Peter the Great Vladimir Putin’s admiration for Peter the Great is well known but he now seems to have Continue Reading
Following a record month for physical LNG imports in April due to historic price spikes, monthly European receipts decreased in May as limitations in downstream transport pressured local hub prices, Continue Reading
US dollar rises on week, stagflation concerns bump recovery China reimposes temporary lockdown Sentiment supported by peak driving season Crude oil futures were down in mid-morning Asian trade June 10, Continue Reading
Oil dipped at the end of the week — trimming a seventh weekly gain — as investors weighed China’s bumpy return from virus curbs. West Texas Intermediate futures slipped for Continue Reading
Oil prices slipped on Friday but remained within touching distance of three-month highs as fears over new COVID-19 lockdown measures in Shanghai outweighed solid demand for fuels in the United Continue Reading
Government data showing low natural-gas inventories helped prices rebound Thursday after a sharp decline Wednesday that followed a fire at a Texas fuel-export facility, which will reduce overseas shipments this Continue Reading
The decision by OPEC+ to boost its production quotas did not have the desired effect on oil markets, with prices having increased since then. One of the main reasons for Continue Reading
