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EIA Confirms Moderate Crude Build, Products Draw

Crude oil prices went lower today, after the U.S. Energy Information Administration reported an estimated inventory increase of 4.2 million barrels for the week to February 23. This compared with a build of 3.5 million barrels for the previous week, which was accompanied by inventory declines in gasoline and middle distillates. In gasoline, the EIA...

Wed Feb 28, 2024 17:45
Draft WTO Agreement Shows Deep Divergences on Climate Change

The World Trade Organization’s (WTO) ministerial conference in Abu Dhabi has shown again deep divergences regarding actions to tackle climate change, with the only explicit reference to “climate change” reduced to an annex in the latest drafts.   Talks on a new WTO deal are being held this week in Abu Dhabi, and amid disagreements, negotiations on a...

Wed Feb 28, 2024 17:45
Will Trump Roll Back Biden’s Green Initiatives if Elected?

With the U.S. presidential election coming up in November, many are wondering what will happen following three years of green progress if a Republican candidate wins the election. As per his campaign mandate, President Biden has focused heavily on decarbonising the U.S. economy and tackling climate change through the introduction of far-reaching climate...

Wed Feb 28, 2024 17:05
Russia’s LNG Cargoes Bound for China Avoid the Red Sea

Russia has started diverting its LNG cargoes away from the Suez Canal and is using the longer route to China via the Cape of Good Hope in Africa, amid a higher risk of Houthi attacks in the Red Sea, according to LSEG data cited by Reuters on Wednesday.   The longer route from Russia’s Yamal LNG project to China via Africa instead of the Suez Canal adds...

Wed Feb 28, 2024 17:05
This Might Be The Fastest Way to Double U.S. Grid Capacity

The Biden administration has set an ambitious target to generate 80% of the United States’ electricity from renewables by 2030 and 100% carbon-free electricity by 2035. However, the country’s aging infrastructure is already struggling to keep pace with the rapid growth of renewable energy, with experts saying a massive grid overhaul is required to make...

Wed Feb 28, 2024 03:04
China and Europe to Drive LNG Demand Growth This Year

China and Europe will lead the increase in demand for liquefied natural gas this year, a senior executive from TotalEnergies has forecast. "LNG has continued to grow, with China being back in the market but not yet at the level of 2021," Thomas Maurisse, VP of Asia Exploration & Production, said at an industry event as quoted by Reuters. "With Europe...

Wed Feb 28, 2024 03:04

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