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US hits commercial tanker in Gulf of Oman as tensions flare
The ship tried to break through America’s naval blockade of Iranian ports, Central Command says of i...
Emergency Oil Releases Risk Draining the World’s Last Supply Cushion
Earlier this week, the International Energy Agency, after consulting with G7, said it would release ...
Tanker Rates Soar to Record as Oil Crisis Becomes Shipping Crisis
The cost of shipping crude oil soared to record highs last month as the Iran war reshuffled trade ro...
PJM on Maximum Alert to Prevent Outages Amid Extreme Heat Wave
PJM Interconnection, the operator of the largest U.S. electric grid, has issued a maximum generation alert for July 3 asking power producers to maximize electricity generation amid soaring demand in t ...
Japan's LNG Imports Fall 7% as Utilities Chase Cheaper Coal
Japan last month reduced gas-fired generation in favor of coal as the price of liquefied natural gas remained elevated despite multiple reports of energy flows out of the Strait of Hormuz improving. T ...
Europe’s Energy Transition Stalls as Heat Wave Exposes the Cost of Inaction
London Climate Action Week took place during an intense heat wave last week, causing some of the planned events to be cancelled and calling extra attention to the urgency of the summit’s cause. One of ...
Iran Tightens Grip on Strait of Hormuz Tanker Traffic
Just when the oil market was getting comfortable with the idea that the Strait of Hormuz was reopening, Iran reminded everyone who's still directing traffic. Iran's joint military command warned on Th ...
Kuwait Wants Consortiums to Bid for $7 Billion Oil Pipeline Deal
Kuwait’s state oil firm, Kuwait Petroleum Corporation (KPC), has asked some of the asset management funds bidding for a stake in its oil pipeline network to tap other investors in their bids for the p ...
EU Bows to Tech Lobby, Drops Ten-Year Renewables Rule for Data Centers
The European Union has given in to pressure from Big Tech to water down its strict low-carbon energy requirements in order to pursue its AI agenda as the U.S. and China pull far ahead and the EU plays ...
Trump Targets California Again In SpaceX Feud
For years, U.S. President Donald Trump has loomed large over California's energy and environmental sectors as he tries to promote fossil fuels and roll back the state’s climate initiatives, with varyi ...
Wall Street Is Pivoting From Solar To Solar Plus Storage
The global solar energy boom is showing no signs of slowing down, with falling costs and ambitious clean energy targets continuing to drive rapid adoption. Last year, solar capacity additions surged 1 ...
EIA: U.S. Crude Inventories Post Another Major Draw
Crude oil inventories in the United States decreased by 3.8 million barrels during the week ending June 26, according to new data from the U.S. Energy Information Administration (EIA) released on Wedn ...
EU Industry Splits Over Emissions Trading Scheme Overhaul
European companies are concerned – in various ways – about the upcoming revamping of the EU's emissions trading scheme (ETS), the key instrument the bloc has been implementing since 2005 to curb emiss ...
Oil Prices Reflect Optimism That Hormuz Has Yet to Justify
Crude oil prices ended the second quarter of the year with the steepest decline since 2020, with Brent shedding close to 40% on optimism about a peace deal between the United States and Iran. But it m ...
Why a Supply Crunch From Iran Could Send Oil Back Below $40 a Barrel
There have recently been many warnings about near-term oil shortages stemming from the conflict in Iran. Most analysts assume that shortages mean higher prices. As I will explain, the dynamics of a se ...