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Russia Reclaims Its Position as Europe’s Top Gas Supplier

Russia Reclaims Its Position as Europe’s Top Gas Supplier

Europe's efforts to reduce dependence…

Microsoft: Russian and Chinese State Hackers Pose Growing Threat

Microsoft: Russian and Chinese State Hackers Pose Growing Threat

Microsoft reports increasingly aggressive cyberattacks…

News

Oil Prices Jump 2% on Improving Demand Outlook

Oil Prices Jump 2% on Improving Demand Outlook

Jun 17, 2024 at 13:59 | Josh Owens

The U.S. crude oil benchmark was trading up over 2% on Monday, with Brent gaining over 1.7% as the market digested data suggesting an improving demand outlook. 

Rystad Predicts Near Zero Oil Supply Growth in 2024

Rystad Predicts Near Zero Oil Supply Growth in 2024

Jun 17, 2024 at 12:01 | Michael Kern

Rystad Energy on Monday projected that global oil supply growth would slow in 2024 and potentially the following year, due to the extension of OPEC+ voluntary cuts and…

U.S. Gasoline Prices Up After 3-Week Decline

U.S. Gasoline Prices Up After 3-Week Decline

Jun 17, 2024 at 11:59 | Michael Kern

Prices at U.S. pumps rose 1 cent from a week ago, pushing pause on gradually declining prices, largely because of price increases in Great Lakes states, GasBuddy said…

World’s Top Shipping Register Removes Sanctioned Russian Insurer

World’s Top Shipping Register Removes Sanctioned Russian Insurer

Jun 17, 2024 at 09:42 | Charles Kennedy

The Liberia Register, which has about 16% of the world’s vessels by capacity flying Liberia’s flag, has withdrawn authorization to Russia’s Ingosstrakh Insurance Company to issue documents that allow ships…

Industry Calls on Australian Government to Back Gas Power

Industry Calls on Australian Government to Back Gas Power

Jun 17, 2024 at 09:18 | Charles Kennedy

Australia’s energy producers and utilities are calling on the government to support the existing natural gas-powered generation as a smooth market mechanism to move to growing shares of renewables in…

UK Renewable Energy Producers Could Be Hit by the EU Carbon Border Tax

UK Renewable Energy Producers Could Be Hit by the EU Carbon Border Tax

Jun 17, 2024 at 08:09 | Charles Kennedy

UK renewable power generators exporting electricity to the EU could be hit with the EU carbon border tax as of 2026 unless the UK and the European Union work a…

China Accelerates Crude Stockpiling Amid Weak Refining Output

China Accelerates Crude Stockpiling Amid Weak Refining Output

Jun 17, 2024 at 07:31 | Tsvetana Paraskova

China accelerated the pace of stockpiling crude oil inventories in May amid lower refining throughput and weaker crude imports compared to last year, in further bearish signs about China’s apparent…

Denmark Looks to Curb Dark Fleet Carrying Russian Oil in the Baltic Sea

Denmark Looks to Curb Dark Fleet Carrying Russian Oil in the Baltic Sea

Jun 17, 2024 at 06:48 | Tsvetana Paraskova

Denmark, other Baltic Sea countries, and allies from the European Union are considering ways to limit the volume of Russian oil transported on the so-called dark fleet in the Baltic…

China’s Oil Processing Drops as Refining Margins Weaken

China’s Oil Processing Drops as Refining Margins Weaken

Jun 17, 2024 at 05:50 | Tsvetana Paraskova

China saw its oil refining output decline in May compared to the same month last year amid falling refining margins and planned seasonal maintenance, according to official Chinese data out…

U.S. Trailing China’s Next-Generation Nuclear Power by 10 to 15 Years

U.S. Trailing China’s Next-Generation Nuclear Power by 10 to 15 Years

Jun 17, 2024 at 04:55 | Tsvetana Paraskova

The United States is likely 10 to 15 years behind China in deploying fourth-generation nuclear reactors at scale, as Chinese authorities are strongly backing the domestic industry with policies and…

Russia Dethrones U.S. as Top EU Natural Gas Supplier

Russia Dethrones U.S. as Top EU Natural Gas Supplier

Jun 17, 2024 at 03:12 | Irina Slav

Russia became the biggest supplier of natural gas to Europe last month, for the first time since 2022, replacing the United States at the top spot. “It’s striking to see…

White House Determined to Bring Fuel Prices Down for U.S. Consumers

White House Determined to Bring Fuel Prices Down for U.S. Consumers

Jun 17, 2024 at 02:07 | Irina Slav

The Biden Administration is ready to start releasing crude from the strategic petroleum reserves should it become necessary in case of higher retail fuel prices. “We will do everything we…

Oil Prices Start the Week Lower as Demand Optimism Fades

Oil Prices Start the Week Lower as Demand Optimism Fades

Jun 17, 2024 at 01:55 | Irina Slav

Crude oil prices began trading with a loss this week as the momentum of last week’s robust demand expectations fizzled out following a U.S. consumer demand survey last Friday. The…

Sweden Rejects New Power Cable to Germany Over Market Inefficiencies

Sweden Rejects New Power Cable to Germany Over Market Inefficiencies

Jun 14, 2024 at 11:18 | Julianne Geiger

In a significant move, the Swedish government has rejected the proposed 700 MW Hansa PowerBridge subsea power connection between Sweden and Germany. Energy Minister Ebba Busch cited inefficiencies in the…

Africa’s Biggest Refinery Delays First Gasoline Supply until mid-July

Africa’s Biggest Refinery Delays First Gasoline Supply until mid-July

Jun 14, 2024 at 09:38 | Charles Kennedy

The Dangote Refinery in Nigeria, Africa’s biggest and newest crude processing facility, is delaying the start of gasoline deliveries after the middle of July, the Dangote group’s president Aliko Dangote 

Catan's New Edition Challenges Players with Energy Crisis, Climate Change

Catan's New Edition Challenges Players with Energy Crisis, Climate Change

Jun 14, 2024 at 09:36 | Julianne Geiger

The classic board game Catan, known for its emphasis on development and resource management, has been reimagined for the 21st century with a new edition that integrates modern energy challenges.…

European Diesel Market Shows Signs of Tightening

European Diesel Market Shows Signs of Tightening

Jun 14, 2024 at 09:01 | Charles Kennedy

Market spreads and futures prices signaled at the end of this week a tightening in the European diesel market, on the back of closed or restricted arbitrage opportunities for supply…

Fitch: EU Tariffs on China’s EVs Will Not Affect European Market

Fitch: EU Tariffs on China’s EVs Will Not Affect European Market

Jun 14, 2024 at 08:13 | Charles Kennedy

The European Commission’s provisional tariffs on imports of Chinese electric vehicles in the EU are not expected to materially impact the European market, due to the slow uptake of EVs,…

Russia’s Oil Product Shipments Jumped by 10.4% in May

Russia’s Oil Product Shipments Jumped by 10.4% in May

Jun 14, 2024 at 07:24 | Tsvetana Paraskova

Russia’s fuel exports by sea increased by 10.4% in May compared to April as Moscow lifted a gasoline export ban and some refineries returned from maintenance, according to 

Egypt Turns to LNG Imports to Counter Blackouts

Egypt Turns to LNG Imports to Counter Blackouts

Jun 14, 2024 at 06:49 | Tsvetana Paraskova

Egypt looks to import in the coming months the highest number of LNG cargoes in years as it looks to ease the strain on its grid and industry amid energy…

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