In the last week of June, crude oil futures began with modest gains, signaling a potential monthly increase amidst factors such as rising gasoline demand in the U.S. and renewed geopolitical tensions in the Middle East. Despite a pullback on Friday after a period of gains, both West Texas Intermediate (WTI) and Brent crude are… Continue reading Oil prices start last week of June higher, on pace for monthly gain as Israel-Lebanon tensions simmer

In Virginia, a new law effective from July 1 aims to protect residents from utility disconnections during periods of extreme heat, following decades-long protections already established for cold weather. Spearheaded by State Senator Lashrecse Aird, who drew from personal experience of utility disconnection in her youth, the legislation mandates that utilities cannot disconnect service when… Continue reading Extreme heat is turning electricity cutoffs into new political battle for power companies

U.S. crude oil prices showed resilience on Friday, heading for a second consecutive weekly gain amidst a surge in gasoline demand to pre-pandemic highs. Oil markets traded relatively flat during the morning session, yet recorded a weekly increase of more than 3.6%. JPMorgan reported a notable uptick in U.S. gasoline consumption, reaching 9.4 million barrels… Continue reading U.S. crude oil on pace for second weekly gain as gasoline demand surges

The rapid growth of solar energy in the United States is challenging previous criticisms from the oil and gas industry, which claimed that the energy transition to renewables was failing. Although solar power still only accounts for 3.9% of the nation’s electricity generation compared to natural gas’s 43%, its expansion is significantly outpacing other sources.… Continue reading Solar is growing faster than any electricity source as Big Tech seeks clean energy for data centers

U.S. crude oil prices remained robust above $80 per barrel, maintaining strong gains despite mixed economic indicators from China, the world’s largest crude oil importer. West Texas Intermediate (WTI) futures, the U.S. benchmark, closed at $80.29 per barrel on Tuesday, slightly down by 5 cents. Year-to-date, WTI has surged 12%. Meanwhile, Brent crude, the global… Continue reading U.S. crude oil holds above $80 per barrel after starting week with strong gains

NextEra Energy’s stock experienced a nearly 5% decline in early trading following the company’s announcement of plans to raise $2 billion through equity units aimed at financing energy projects and debt repayment. The Florida-based utility, renowned for its extensive portfolio of renewable energy assets in the U.S., priced these equity units at $50 each, with… Continue reading Hot utility stock NextEra falls nearly 5% after announcing plan to sell $2 billion in equity units

Crude oil futures saw a rise on Monday following a strong performance the previous week, marking their best since April, amidst mixed economic signals from China. Both U.S. crude oil and Brent, the global benchmark, closed nearly 4% higher by the end of last week, driven by expectations of tightening market conditions in the third… Continue reading Oil prices rise after booking best week since April as traders sift through China economic data

Vancouver, British Columbia–(Newsfile Corp. – June 17, 2024) – Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FSE: 7HI), an innovative clean technology company specializing in power conversion technologies, is pleased to announce the completion of a joint development agreement with Ocean Batteries AS (“Ocean Batteries”) for the delivery of 300-kilovolt-ampere, 800-volt Hillcrest ZVS inverter prototypes.… Continue reading HILLCREST PARTNERS WITH OCEAN BATTERIES TO DEPLOY ZVS INVERTER IN GRID-CONNECTED ENERGY STORAGE SYSTEMS

Oil futures stabilized on Thursday following U.S. economic data suggesting easing inflation, which could prompt the Federal Reserve to consider interest rate cuts to stimulate the economy. Wholesale prices unexpectedly dropped by 0.2% in May after a previous rise, as reported by the Labor Department. This news came after Wednesday’s announcement that consumer prices remained… Continue reading Oil prices hold firm, on pace for weekly gain, as inflation appears to ease in U.S.

OPEC’s Secretary General, Haitham Al Ghais, emphasized the enduring necessity of fossil fuels for global energy security amidst predictions of peak oil demand. Al Ghais projected a substantial rise in oil demand, particularly driven by developing nations like China and India, where millions still lack access to essential services like electricity and transportation. He warned… Continue reading OPEC calls for more fossil fuel investment to prevent shortfall, dismisses peak oil demand prediction

U.S. crude oil experienced a more than 1% increase on Wednesday, continuing its rally for the week as both OPEC and the Department of Energy project steady demand throughout the year. The Department of Energy revised its global consumption growth forecast to 1.1 million barrels per day (bpd), signaling a potential supply deficit, as world… Continue reading U.S. crude oil extends gains, trades above $79 as Department of Energy sees supply deficit

Crude oil futures maintained their gains on Tuesday as OPEC stood by its demand forecasts, anticipating steady economic growth for the year. After rallying more than 2% on Monday, U.S. crude oil prices marked their best performance since February 8th, nearly recovering from last week’s dip to four-month lows following OPEC+’s decision to increase crude… Continue reading Oil prices hold firm after rally as OPEC sticks to demand and steady economic growth forecasts