U.S. crude oil futures remained near three-month highs on Tuesday amidst continued turmoil in the Middle East. The West Texas Intermediate (WTI) contract for March experienced a marginal decline of 4 cents to $79.15 a barrel, while the Brent contract for April saw a more significant drop of $1.15 to $82.41 a barrel. With no… Continue reading U.S. crude hovers near three-month high as Middle East conflict rages on

Crude oil futures are experiencing a weekly gain driven by escalating tensions in the Middle East, despite concerns about inflation in the U.S. and uncertain demand projections. West Texas Intermediate (WTI) crude for March rose to $78.47 a barrel, while April Brent futures climbed to $83.20. Speculative traders are capitalizing on geopolitical uncertainties, particularly regarding… Continue reading Oil on pace for weekly gain as Middle East turmoil overshadows stubborn inflation, demand outlook

The article highlights a decline in crude oil futures on Thursday due to a subdued global demand growth forecast for 2024. The West Texas Intermediate contract for March experienced a decrease of 50 cents, reaching $76.14 per barrel, while the Brent contract for April traded at $81.12 per barrel, marking a decline of 48 cents.… Continue reading Oil prices fall on forecast global demand in 2024 will grow at half last year’s rate

H2MOF, a California-based startup established in 2021 and supported by esteemed scientists, including Nobel laureate Professor Fraser Stoddart, is at the forefront of advancing hydrogen energy solutions. Focused on overcoming the major hurdle of efficient hydrogen storage, the company harnesses molecularly engineered materials to innovate in this critical area. Professor Stoddart asserts that while hydrogen… Continue reading ‘The holy grail’: Startup backed by a Nobel laureate vying for a breakthrough on hydrogen storage

Crude oil futures experienced a decline on Wednesday, relinquishing earlier gains due to a significant increase in stockpiles in the U.S. coupled with a decline in demand. The West Texas Intermediate (WTI) contract for March dropped by 11 cents to $77.76 a barrel, while the Brent contract for April traded at $82.74 a barrel, down… Continue reading Oil prices give up advance as U.S. crude stockpile surge

U.S. Energy Secretary Jennifer Granholm has expressed significant concerns regarding China’s dominance in the global supply chain for critical minerals, particularly amid the rising demand for metals essential to the energy transition, such as nickel, copper, lithium, and cobalt. China currently accounts for approximately 60% of the world’s production of rare earth minerals and materials,… Continue reading U.S. ‘very concerned’ about China’s dominance as a critical minerals supplier, energy chief says

Oil futures remained steady on Tuesday despite persistent inflation in the U.S. that led to a decline in the stock market. The West Texas Intermediate (WTI) contract for March saw a slight increase of 12 cents, reaching $77.04 per barrel, while the Brent contract for April traded at $82.03 per barrel, up 4 cents. Despite… Continue reading Oil prices hold steady despite stubborn U.S. inflation

Saudi Arabia’s state-controlled oil giant, Aramco, has halted its capacity expansion plans in response to the ongoing green transition, announced Energy Minister Abdulaziz bin Salman on Monday. Speaking at the International Petroleum Technology Conference in Dhahran, the minister emphasized the shift towards renewables, indicating that Aramco’s transformation from an oil company to an energy company… Continue reading Saudi energy minister pins Aramco’s oil capacity halt on green transition

Enphase Energy anticipates a turnaround in the solar market this year despite the industry’s struggles with high interest rates. The demand for residential solar installations plummeted in 2023 due to elevated rates, leaving Enphase burdened with excess inventory. However, CEO Badri Kothandaraman projects a bottoming out in the first quarter of this year, followed by… Continue reading Enphase CEO says solar industry poised to rebound on falling interest rates and rising utility costs

India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, asserts that India’s significant purchase of Russian oil has helped keep global crude prices affordable. Speaking at the India Energy Week conference in Goa, Puri emphasized that India’s preference for Russian oil has contributed to stabilizing oil prices, preventing them from soaring to potentially detrimental… Continue reading ‘World is grateful’: India keeps oil prices cheaper by buying from Russia, Indian oil minister says

Orsted, a Danish leader in renewable energy, unveiled a series of strategic moves aimed at streamlining operations and navigating challenges following a tumultuous year marked by significant cost escalations. The company, renowned as the world’s largest offshore wind developer, announced plans to trim its workforce by up to 800 jobs globally, suspend dividend payouts to… Continue reading Renewables giant Orsted exits several offshore wind markets, pauses dividend after turbulent year

Siemens Energy reported a significant turnaround in its first fiscal quarter, shifting from a loss to a net profit of 1.58 billion euros, primarily driven by a one-off gain from selling its stake in India’s Siemens Limited for 2.1 billion euros. The company witnessed a robust 23.9% year-on-year increase in orders, totaling 15.4 billion euros,… Continue reading Siemens Energy swings to profit on order surge, sale of Indian stake