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News

Tesla Stock On The Rise As China Eases Lockdowns

Tesla Stock On The Rise As China Eases Lockdowns

Jun 09, 2022 at 10:46 | ZeroHedge

Tesla stock is popping 3.5% in the pre-market session after the company expected Chinese sales numbers that showed a return to normalcy and the company was slapped with…

Spain, Portugal Allowed To Use State Aid To Ease Energy Spike Burden

Spain, Portugal Allowed To Use State Aid To Ease Energy Spike Burden

Jun 09, 2022 at 10:15 | Tsvetana Paraskova

Spain and Portugal have received EU approval to use a combined $9 billion of government funds to help lower input costs of fossil fuel-fired power stations and thus, energy…

European Auto Industry Decries EU Ban On Petrol Cars

European Auto Industry Decries EU Ban On Petrol Cars

Jun 09, 2022 at 09:55 | Charles Hugh Smith

The German auto industry is protesting a decision by EU parliament to ban the sale of cars that run on petrol and diesel by 2035, describing it as…

U.S. National Average Gasoline Price Hits The Dreaded $5 Mark

U.S. National Average Gasoline Price Hits The Dreaded $5 Mark

Jun 09, 2022 at 09:13 | Tsvetana Paraskova

U.S. gasoline prices jumped on Thursday to a national average of $5 per gallon, a record high, according to data from fuel-savings app GasBuddy. The $5 threshold had been…

U.S. Natural Gas Prices Drop After Explosion At Freeport LNG Terminal

U.S. Natural Gas Prices Drop After Explosion At Freeport LNG Terminal

Jun 08, 2022 at 13:32 | Charles Kennedy

An explosion at a liquefied natural gas (LNG) export terminal in Texas has sent natural gas prices downward as emergency crews respond and details continue to flow in. …

Chevron CEO: Record Gasoline Prices Could Limit Support For Green Energy

Chevron CEO: Record Gasoline Prices Could Limit Support For Green Energy

Jun 08, 2022 at 12:16 | Tsvetana Paraskova

Record-high fuel prices in many countries could erode public support for an energy transition as consumers have started to identify the high prices with the green energy push, according to…

Exxon Passes $100 Mark For First Time Since 2014

Exxon Passes $100 Mark For First Time Since 2014

Jun 08, 2022 at 11:29 | Charles Kennedy

ExxonMobil stock saw a more than 2% boost in share prices on early Wednesday trading, marking a significant comeback for an oil giant that has recently fallen out…

Ukraine To Halt Coal, Oil, Gas Exports Ahead Of Critical Winter

Ukraine To Halt Coal, Oil, Gas Exports Ahead Of Critical Winter

Jun 08, 2022 at 10:19 | Charles Kennedy

Anticipating a winter season defined by severe energy crisis, Ukraine will halt all exports of coal, natural gas and oil, Ukrainian President Volodymyr Zelensky said in an

Pakistan Cuts Work Week Amid Severe Energy Crisis

Pakistan Cuts Work Week Amid Severe Energy Crisis

Jun 08, 2022 at 10:00 | Charles Kennedy

Pakistan is reverting back to a five-day work week in an effort to reduce energy and fuel consumption as its energy crisis worsens in the very hot summer months.…

War In Ukraine Forces BP To Shutdown Key Pipeline

War In Ukraine Forces BP To Shutdown Key Pipeline

Jun 08, 2022 at 09:59 | Eurasianet

Azerbaijan's main oil producer, BP, has shut down the oil pipeline it operates to Georgia's Black Sea coast for the month of June…

Yellen: It Is “Virtually Impossible” To Avoid Oil Market Shocks

Yellen: It Is “Virtually Impossible” To Avoid Oil Market Shocks

Jun 08, 2022 at 09:45 | RFE/RL staff

The United States is involved in "extremely active" discussions with European countries aimed at finding more ways to limit Russian oil revenues, U.S. Treasury Secretary Janet Yellen said.…

Windfall Taxes On Energy Company Profits Won’t Be Lifted Anytime Soon

Windfall Taxes On Energy Company Profits Won’t Be Lifted Anytime Soon

Jun 08, 2022 at 09:43 | City A.M

Oil prices could take seven years to return to normal levels, warned energy analysts, reducing the prospect of the windfall tax on North Sea oil and gas operators…

Record UK Gasoline Prices See Biggest Daily Surge In 17 Years

Record UK Gasoline Prices See Biggest Daily Surge In 17 Years

Jun 08, 2022 at 09:31 | Tsvetana Paraskova

UK gasoline prices continue to set records, with the daily price jump between Monday and Tuesday at its highest in 17 years, RAC, the UK’s longest-serving motoring organization, says. “The…

U.S. Solar Industry Slams Biden for “Pittance” In Tariff Relief

U.S. Solar Industry Slams Biden for “Pittance” In Tariff Relief

Jun 08, 2022 at 09:27 | Irina Slav

The U.S. solar industry has criticized President Biden’s plans for setting up a domestic panel production industry to replace controversial imports from Asia as a “pittance”, noting it will be…

Major Lithium Producer Could Shut German Plant Over EU Rule 

Major Lithium Producer Could Shut German Plant Over EU Rule 

Jun 08, 2022 at 08:36 | Tsvetana Paraskova

Lithium producer Albemarle could be forced to close its plant in Germany if the European Union classifies the key mineral lithium as a hazardous substance that would change the way…

Oil Prices Dip On Small Crude, Gasoline Inventory Build

Oil Prices Dip On Small Crude, Gasoline Inventory Build

Jun 07, 2022 at 15:55 | Julianne Geiger

The American Petroleum Institute (API) reported a build this week for crude oil of 1.845 million barrels, while analysts predicted a draw of 1.8 million barrels. The draw comes even…

Trading Giant Trafigura Sees Oil Headed To $150 This Year

Trading Giant Trafigura Sees Oil Headed To $150 This Year

Jun 07, 2022 at 14:13 | Julianne Geiger

Crude oil prices may soon hit $150 per barrel or more this year, Trafigura’s CEO Jeremy Weir told the FT Global Boardroom conference on Tuesday. The spike in

Noway's Offshore Oil Workers Threaten To Strike

Noway's Offshore Oil Workers Threaten To Strike

Jun 07, 2022 at 13:54 | Julianne Geiger

About 11% of Norway's offshore oil workers have threatened to strike, according to labor union data cited by Reuters on Tuesday. Of Norway's 7.500 offshore oil and gas workers, about…

Environmentalists Challenge EU-Backed Gas Projects

Environmentalists Challenge EU-Backed Gas Projects

Jun 07, 2022 at 12:51 | Charles Kennedy

Several environmental campaign groups said on Tuesday that they are challenging the European Union over its support for 30 natural gas projects under a directive earlier this year to…

Premature Closure Of Houston Refinery Could Worsen The Fuel Crunch

Premature Closure Of Houston Refinery Could Worsen The Fuel Crunch

Jun 07, 2022 at 10:12 | Tsvetana Paraskova

U.S. refining capacity could take a hit from an earlier than planned closure of a major refinery in Houston, which could worsen the refining and fuel crunch in the country.…

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