Oil Prices Jump More Than 2% After Renewed Iranian Attacks on UAE

Summary Iran renews attacks on US Gulf allies Strait of Hormuz disruption has halved UAE crude output Middle East crude benchmarks hit record highs (Reuters) – Oil prices rose by…

US Weighs Near $1 Billion Settlement With TotalEnergies for Abandoning Wind Farms, NYT Reports

Get the Latest US Focused Energy News Delivered to You! It’s FREE: U.S. officials are drafting agreements to pay French oil major TotalEnergies about $1 billion in ​settlements due to…

SC Says No Clear Off-Ramps in Conflict, Ups Brent Forecast

Despite optimistic comments from the U.S. about the potential duration of the conflict, there appear to be no clear off-ramps at present. That’s what Standard Chartered Bank Energy Research Head…

U.S. Diesel Prices Top $5 a Gallon as Hormuz Crisis Ripples Across America

U.S. diesel fuel prices topped $5 per gallon, according to GasBuddy, which has only happened once before, Reuters noted in a report, citing the GasBuddy data. The price tracker earlier…

Tesla and LG Energy to Build $4.3 Billion Battery Plant in Michigan

Tesla and LG Energy will jointly build a battery plant in Michigan that will cost $4.3 billion. Production is slated to begin next year, the Department of the Interior said…

China Built a Massive Oil Buffer Ahead of the Iran Crisis

China expanded its crude oil stockpiles over the first two months of the year, thanks to higher imports and a ramp-up in domestic production, Reuters’ Clyde Russell reported, adding that…