Aerial view of a tanker. Bugto | Moment | Getty Images The Iran-backed Houthi militant group on Sunday damaged a ship offshore Yemen, prompting its crew to abandon the vessel in the latest escalation of maritime tensions that have disrupted key trade routes in the Red Sea. The U.K. Maritime Trade Operations said on social … Read more
Norway boasts the highest electric vehicle adoption rate in the world. Some 82% of new car sales were EVs in Norway in 2023, according to the Norwegian Road Federation (OFV). In comparison, 7.6% of new car sales were electric in the U.S. last year, according to Kelley Blue Book estimates. In the world’s largest auto … Read more
A flare burns excess natural gas in the Permian Basin in Loving County, Texas, U.S. November 23, 2019. Angus Mordant | Reuters Oil prices pulled back Friday as the market sorted through conflicting demand forecasts from OPEC and the International Energy Agency. The West Texas Intermediate contract for March lost 63 cents, or 0.81%, to … Read more
The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Angus Mordant | Reuters Crude oil futures fell Thursday on a weak global demand growth forecast for 2024. The West Texas Intermediate contract for March lost 50 cents, or 0.65%, to $76.14 a … Read more
Smoke billows following Israeli bombardment in the village of Shihin in southern Lebanon near the border with Israel on February 13, 2024, amid ongoing cross-border tensions as fighting continues between Israel and Palestinian Hamas militants in the Gaza Strip. Kawnat Haju | Afp | Getty Images Crude oil futures rose on Wednesday as Israel launched … Read more
Construction workers install equipment at a construction site of a lithium battery project on April 6, 2023 in Renshou County, Meishan City, Sichuan Province of China. Vcg | Visual China Group | Getty Images U.S. Energy Secretary Jennifer Granholm on Wednesday said the country is “very concerned” about China’s grip on the global supply chain … Read more
The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Angus Mordant | Reuters Oil futures edged slightly higher on Tuesday after falling flat in the previous session as crude prices struggle to break out amid uncertainty over the future course of the … Read more
An emission comes out of a smoke stack at the Infineum oil refinery on February 6, 2024, in Linden, New Jersey. Gary Hershorn | Corbis News | Getty Images Oil prices fell Monday after rallying more than 6% last week on escalating Middle East tensions. The West Texas Intermediate contract for March was last down … Read more
Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022. Bloomberg | Bloomberg | Getty Images Saudi’s state-controlled oil giant Aramco suspended its capacity expansion plans because of the green transition, Energy Minister Abdulaziz bin Salman said Monday, stressing that the future of energy security lies with renewables. “I think we postponed this [Aramco capacity] … Read more
A picture taken from southern Israel near the border with the Gaza Strip on December 21, 2023, shows smoke billowing following Israeli bombardment in the Palestinian territory amid ongoing battles with the Palestinian Hamas militant group. Jack Guez | AFP | Getty Images Oil prices are poised to post a weekly again as hopes for … Read more
