Finance and markets: business, quotes, gold, energy and releases.
Found 2018 articles
For the first time in history, solar energy has surpassed wind as a primary source of global electricity generation. According to the latest Statistical Review of World Energy, solar output surged by 30.1% in 2025, cementing its status as the fastest-growing component of the world’s renewable power infrastructure.
A sharp 17.4 million barrel climb in U.S. crude oil inventories rattled energy markets Wednesday, as the Energy Information Administration reported commercial stockpiles hitting 424.4 million barrels. This substantial influx leaves domestic reserves just 2% shy of the five-year average, sparking an immediate retreat in global oil futures.
The U.S. Department of Energy has committed up to $2.15 billion to support X-energy’s nuclear project with Dow, signaling a massive shift from experimental pilot programs to full-scale industrial infrastructure. The funding, channeled through the Advanced Reactor Demonstration Program, aims to integrate next-generation reactors directly into manufacturing operations by the early 2030s.
Geopolitical instability in Russia and Iran, paired with persistent fuel price volatility, is forcing a shift in global energy strategy. According to a new Wood Mackenzie report, these supply shocks are acting as a catalyst for electric vehicle adoption, fundamentally altering the long-term outlook for petroleum demand and power infrastructure.
A massive Ukrainian drone and missile assault on the Russian port of Novorossiysk has forced the suspension of two primary grain terminals. The operation, which President Volodymyr Zelensky labeled a unique strike against military infrastructure, resulted in three civilian deaths and significant damage to the city's water supply system.
Sales of the Taycan have cratered, dropping from over 40,000 units in 2023 to just 16,339 by 2025. This sharp reversal has forced Porsche management and its works council to reportedly agree on a 2030 phase-out date for the electric sports car, signaling a retreat from the brand's aggressive electrification timeline.
A long-range Ukrainian drone strike ignited a blaze at Gazprom’s Neftekhim Salavat refinery in the Urals on Thursday, marking a significant escalation in Kyiv’s campaign to disable Russian energy infrastructure located 750 miles from the front lines.
Water levels on the Danube have plunged to a 90-year low, forcing Romania to disconnect its last remaining operational nuclear reactor at Cernavoda. The state operator, Nuclearelectrica, confirmed the shutdown on Thursday, marking a complete halt of the facility’s output as extreme heat continues to cripple energy infrastructure across Europe.
Persistent volatility in the Strait of Hormuz will keep 600,000 barrels of daily oil production offline through the end of 2027, according to the latest U.S. Energy Information Administration forecast. While supply chains have begun a slow, uneven recovery, regional tensions continue to disrupt global crude inventories and price stability.
Spending on North Sea decommissioning hit a record £2.6 billion in 2025, signaling a shift in the region's industrial focus. As the basin matures, the North Sea Transition Authority warns that operators must accelerate well closures to clear a persistent backlog that threatens to overwhelm the supply chain.
With current reserves covering only eight days of national demand, India is moving to secure its energy future by identifying two new sites for strategic petroleum storage. State-controlled ISPRL is currently vetting locations in Rajasthan and Madhya Pradesh to mitigate the impact of volatile global crude flows.
Governor Mike Dunleavy slammed state lawmakers Wednesday after they failed to finalize a property tax amendment critical to the Alaska LNG pipeline project. The legislative impasse effectively halts the 800-mile infrastructure initiative, which aimed to transport North Slope natural gas for both local consumption and massive Pacific export contracts.
With global crude prices climbing amid geopolitical instability, Ningxia Baofeng Energy Group has secured a record $1.4 billion in first-half profits. The company’s performance highlights a widening economic gap between expensive oil-based feedstocks and the relatively stable, coal-derived alternatives that now dominate China’s petrochemical output.
Facing a tightening domestic energy market, New Zealand regulators have issued a 10-year mining permit for the Puka field in the Taranaki region. The move, which includes the promising Oru prospect, signals a shift back toward hydrocarbon extraction to support the nation's electricity grid and industrial base.
As Iran asserts de facto control over the Strait of Hormuz and the Bab el-Mandeb, the U.S. and Saudi Arabia are accelerating infrastructure projects designed to reroute global energy supplies. These initiatives aim to neutralize Tehran’s leverage by creating land-based and bypass corridors that circumvent the two most volatile maritime transit points.
India proposed 638 million metric tons of new annual coal capacity last year, nearly doubling its previous plans and driving an 11% increase in global totals. This aggressive expansion signals a strategic pivot toward domestic energy security, mirroring China’s reliance on traditional power sources to meet surging industrial demand.
Private equity firm Hahn & Co is restructuring its shipping portfolio, transferring 16 LNG carriers from H-Line Shipping to SK Shipping in a move designed to create Asia’s largest operator of liquefied natural gas tankers. The deal reshapes South Korea’s maritime energy sector by centralizing assets under a singular long-term strategy.
The Trump administration is dismantling long-standing U.S. policy in Bosnia and Herzegovina, leveraging the sudden rehabilitation of sanctioned separatist leader Milorad Dodik to secure a lucrative, non-competitive pipeline contract for a newly formed, opaque American company with deep ties to the president’s inner circle.
A 17.4 million barrel surge in U.S. crude inventories and downward revisions to global demand projections pushed oil prices lower during Thursday’s Asian trading session. Brent Crude retreated to $88.56 per barrel, while WTI Crude slipped to $82.77, as markets reacted to cooling consumption expectations and persistent geopolitical volatility.
Persistent Houthi attacks in the Red Sea have prompted a strategic shift in Chinese logistics, with the shipping firm Sea Legend launching the first regular weekly container service through the Arctic. By utilizing the Northern Sea Route, China aims to halve transit times between Ningbo and the UK while avoiding Middle Eastern flashpoints.
China is aggressively expanding its footprint in Central Asia through a blend of high-tech scientific partnerships and strategic infrastructure investment. From joint satellite launches and agricultural research to sovereign panda bonds and massive rail projects, Beijing is weaving its economic interests into the fabric of regional development across the former Soviet republics.
A series of targeted strikes on Russian and Saudi Arabian refining infrastructure has triggered a sharp spike in global diesel prices, exposing the fragility of a market already strained by geopolitical conflict. With refining margins hitting record highs, the world’s primary fuel source is becoming increasingly scarce and expensive.
Geopolitical instability in the Middle East has exposed critical vulnerabilities in global energy supply chains. With major Qatari infrastructure damaged by 2026 missile strikes, the industry is accelerating five massive liquefied natural gas projects to bridge a widening gap between dwindling current supply and a projected 700-million-tonne annual demand by 2050.
Gold climbed toward $4,450 an ounce Tuesday, reaching a two-month high as traders weigh a cooling U.S. labor market against persistent energy inflation. With Brent crude pushing toward $90 a barrel following stalled U.S.-Iran negotiations, the market remains sharply divided ahead of Wednesday’s critical July CPI inflation report.
Conflict over land use is driving a shift in how solar energy is deployed, with farmers and developers increasingly embracing agrivoltaics. By installing panels over crops or grazing land, the industry aims to bypass local opposition while providing agriculturalists with a reliable, diversified revenue stream during climate-driven instability.
Vladimir Putin declared Wednesday that Russia will retaliate against European attempts to dismantle its shadow oil fleet, explicitly threatening to seize foreign vessels in response to EU enforcement. The warning signals a shift toward direct Russian interference in commercial shipping lanes as Brussels expands its blacklist of tankers.
A surging interest in Asian technology stocks has propelled Norway’s $2.3 trillion Government Pension Fund Global to a record $185 billion profit during the first half of 2026. This performance, fueled by a 9.4% return on investments, marks a doubling of earnings compared to the same period last year.
With Brent crude prices climbing above $89 per barrel following Middle East supply disruptions, the Trump administration is auctioning 81 million acres in the Gulf of Mexico. The sale marks the third of 30 mandated auctions, though industry appetite for these offshore blocks remains notably tepid compared to the massive territory available.
Supreme Leader Mojtaba Khamenei has finalized six senior military and security appointments, transforming a five-month period of wartime improvisation into a permanent, centralized hierarchy. The decrees signal an effort to stabilize a command structure decimated by months of Israeli and US strikes that claimed the lives of his predecessor and top generals.
Natural gas shortages at Norsk Hydro’s Alunorte refinery in Brazil have forced a 50% reduction in output, tightening an already depleted global market. As the world’s largest alumina refinery outside China scales back, London aluminum prices surged nearly 2% to reach $3,373 per metric ton.