Europe’s carbon market could soon start paying shipowners to switch fuels, but the support on offer is far from equal. In July, the European Commission proposed a revision of the European Union’s Emissions Trading System that would reserve up to 110 million allowances between 202…

Citi sees more upside risk for oil prices despite recovering Middle Eastern crude exports, a considerably less bearish assessment from the bank that predicted $60-to-$65 Brent by year-end just three months ago. Brent December futures traded at $111.70 on Thursday, up $2.88, or 2.…

The world’s biggest sovereign wealth fund, Norway’s $2.3-trillion Government Pension Fund Global, booked a loss of $30 billion for the third quarter as higher interest rates and market turbulence hit both its fixed-term and equity investments. Norway’s Government Pension Fund Glo…

The United Kingdom has finally established an oil-backed investment fund, decades after neighboring Norway began transforming its North Sea petroleum revenues into one of the world's largest sovereign wealth funds. The British government's new £2 billion Energy Wealth Fund, annou…

The UK’s energy market regulator, Ofgem, is looking to keep Britain’s gas import capacity from mainland European connectors to preserve flexibility to import gas in case of strong demand. Ofgem on Thursday approved Interconnector Limited entering into an agreement, under its lice…

Europe’s benchmark natural gas prices rose on Thursday to nearly 90 euros per megawatt-hour, or the equivalent of $29.50 per million British thermal units (MMBtu), as the escalation in the Middle East raised concerns about European winter gas supply amid historically low inventor…

A lot has happened since 1 June 2022, the date when ministers first granted permission to tap the Jackdaw gas field. The Conservatives were halfway through their ill-fated final term of three. Kwasi Kwarteng was the business secretary, with equally ill-fated aspirations for highe…

Grid, flexibility, and transmission constraints amid limited battery storage forced India to curtail as much as 118.6 gigawatts (GW) of solar and wind power capacity in September, data by India’s JMK Research & Analytics showed.   A total of 118.6 GW of renewable energy capacity…

Record-high gasoline and diesel prices across Europe are accelerating a shift toward electric vehicles and hybrids while new registrations of conventional cars continue to plummet by double digits in key markets. Total car sales in Europe, including the UK, Norway, and Switzerlan…

India saw its crude oil imports from the Middle East rebound in September to pre-war levels amid higher volumes exiting the Strait of Hormuz, while competition from China for Russian oil resulted in declining imports from Russia.  India’s crude oil imports from the Middle East ju…

Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy on Thursday claimed that seven vessels, including oil tankers, were either hit by Iranian forces or struck mines in the Persian Gulf over the past day, as tensions in the region flared up again this week.   The IRGC Navy said t…

Coal supply for power plants in India is ramping up and will soon normalize, an unnamed senior official from the energy ministry in New Delhi said, as quoted by Reuters. At the moment, coal power generators are getting 2.6 million tons of coal daily, which is a record high, the o…

Iranian oil in floating storage has been drained amid the U.S. Navy blockade, the Wall Street Journal has reported, citing Kpler data that suggests further tightening in global oil supply. “There’s no more oil to discharge to China anymore,” Kpler’s head of crude oil analysis, Ho…

In the 2026-27 Winter Fuels Outlook, released alongside the October Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) expects U.S. households that primarily heat with natural gas or propane - about half of households - will spend less on energy ex…

The U.S. Energy Information Administration (EIA) expects U.S. electricity generation will grow 2.2% to a record 4,368 billion kilowatthours (BkWh) this year. EIA expects an additional 1.7% growth in electricity generation next year.

The U.S. Energy Information Administration expects natural gas inventories will increase to 3,985 billion cubic feet (Bcf) in October, the most gas in inventories ahead of the winter heating season since 2016.

The U.S. Energy Information Administration published its July Short-Term Energy Outlook (STEO), increasing its expectations for global oil production.

The U.S. Energy Information Administration published its June Short-Term Energy Outlook (STEO), reducing its expectation for global oil demand in 2026. High fuel prices, reduced fuel availability, and government initiatives are curbing oil consumption this year, particularly in A…

The U.S. Energy Information Administration published its May Short-Term Energy Outlook, reflecting a continued disruption to Middle Eastern oil flows.

The Annual Energy Outlook 2026 (AEO2026) explores medium- and long-term alternative futures in the United States through 2050. AEO2026 enables the public to explore a suite of alternative pathways for our energy future depending on assumptions made about markets, technological br…

The U.S. Energy Information Administration published its April Short Term Energy Outlook this week, examining the implications of the closure of the Strait of Hormuz.

Crude oil price movements. The Brent crude oil spot price has risen sharply following the onset of military action in the Middle East. Brent settled at $94 per barrel (b) on March 9, up about 50% from the beginning of the year and the highest since September 2023. Crude oil price…

Natural gas prices rose sharply in January, averaging $7.72 per million British thermal units (MMBtu), as cold weather increased heating demand, reduced production, and led to record storage withdrawals during Winter Storm Fern. The drawdown for the week ending January 30 was the…