Inflation in the U.S. continued to ease in August, marking a significant decrease from the peak levels experienced during the pandemic. The consumer price index (CPI) rose by 2.5% year-over-year in August, down from 2.9% in July and the lowest since February 2021. This marks a substantial decline from the 9.1% peak in mid-2022, which… Continue reading Here’s the inflation breakdown for August 2024 — in one chart

Cylib, a startup focused on battery recycling, is advancing its mission to minimize waste from electric vehicle (EV) batteries with the construction of a massive new facility in Dormagen, Germany. Backed by prominent investors including Porsche and Bosch, Cylib is investing over 180 million euros (about $200 million) into this state-of-the-art plant, which is set… Continue reading A Porsche-backed startup is building a massive battery recycling plant to boost Europe’s EV industry

On Monday, U.S. crude oil futures saw a rebound of over 1% following a challenging week, marking their worst performance since October 2023. Both the U.S. benchmark, West Texas Intermediate (WTI), and the global Brent benchmark experienced declines exceeding 15% in the third quarter. Daan Struyven, head of oil research at Goldman Sachs, highlighted a… Continue reading U.S. crude oil rebounds more than 1% after worst week since 2023

Plant Vogtle in Waynesboro, Georgia, has become the largest source of clean energy in the U.S. following the addition of two new reactors, according to Georgia Power. The unit 4 reactor at Vogtle began commercial operations in April, and unit 3 went online last year. These reactors, the first to be built from scratch and… Continue reading Why it’s so difficult to build nuclear power plants in the U.S.

Crude oil futures are experiencing a significant decline this week, with Brent crude down 7.2% and on track for its worst weekly performance since October 2023, while the U.S. benchmark, West Texas Intermediate (WTI), has dropped 5.4%, marking its worst week since early May. This downturn comes despite OPEC+’s decision to delay a planned increase… Continue reading Oil prices set for worst week since October 2023 as OPEC+ fails to reassure market

On Wednesday, U.S. crude oil prices fell 1%, dropping below $70 per barrel and raising concerns that OPEC+ might delay planned production increases set to begin next month. The U.S. benchmark hit a low of $69.19, marking its lowest point since December 13, and has lost more than 4% on Tuesday alone. Both U.S. crude… Continue reading U.S. crude oil falls below $70 per barrel, extends sell-off to trade near nine-month low

In 2023, the U.S. set a new record for oil production, surpassing all previous global records, according to the U.S. Energy Information Administration. This surge is attributed to significant advancements in horizontal drilling and hydraulic fracturing (fracking) technologies, which have greatly enhanced oil extraction efficiency. U.S. oil production, which had dropped to 5 million barrels… Continue reading Fracking led the U.S. to pump more oil than any country in history — here’s what that means for the green energy transition

On Tuesday, U.S. crude oil futures dropped nearly 4%, wiping out all gains for the year amid increasing concerns over supply and weakening demand. The decline followed reports that Libya’s rival governments might reach an agreement to resolve a conflict that has disrupted oil production. The dispute between Libya’s eastern government in Benghazi and the… Continue reading U.S. crude oil falls nearly 4%, erases 2024 gains with supply poised to rise as demand falters

Falcon Oil & Gas Ltd. has begun the 2024 drilling program with the spudding of the Shenandoah South 2H (SS2H) horizontal well on exploration permit 98 in the Beetaloo subbasin, Northern Territory, Australia, with Falcon Oil & Gas Australia Ltd.’s joint venture partner, Tamboran (B2) Pty. Ltd. Following the drilling of the SS2H well, Tamboran… Continue reading SPUDDING OF SHENANDOAH SOUTH 2H IN EXPLORATION PERMIT 98

Zeekr, the Chinese electric vehicle (EV) company, announced the upcoming launch of its first midsize electric SUV, the Zeekr 7X, in China on September 20. Priced at 239,900 yuan ($33,829), the Zeekr 7X is strategically positioned to undercut Tesla’s Model Y by over $1,400, reflecting the fierce competition in China’s EV market. The Zeekr 7X,… Continue reading China’s Zeekr targets global markets with its electric SUV, priced to undercut Tesla’s Model Y

U.S. crude oil futures rose on Thursday to nearly $75 per barrel, rebounding after a two-day decline as traders balanced supply disruptions in Libya with slowing demand in China. The October contract for West Texas Intermediate (WTI) crude oil was priced at $74.92 per barrel, marking a 40-cent increase, or 0.54%. Year-to-date, U.S. crude oil… Continue reading U.S. crude oil rises after selloff as traders weigh Libya disruption against China demand

Rafael Grossi, the head of the International Atomic Energy Agency (IAEA), has responded to recent Russian calls for greater objectivity in evaluating nuclear safety amid the ongoing conflict in Ukraine. Following an inspection of the Kursk nuclear facility, Grossi addressed concerns raised by Russia about the safety of the plant. Russia had accused Ukraine of… Continue reading UN nuclear watchdog chief pushes back on Moscow’s calls for objectivity after Kursk plant visit