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☆ U.S. crude hovers near three-month high as Middle East conflict rages on
▼ + stars: | 2024-02-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil futures hovered near three-month highs Tuesday as the conflict in the Middle East rages on. U.S. crude gained 3% last week to settle Friday at its highest price, $79.19 a barrel, since Nov. 6. The global benchmark rose 1.5% for the week to settle at its highest price since Jan. 26. Houthi militants on Monday attacked another cargo ship in the Bab el-Mandeb strait, forcing the crew to abandon the vessel. The attack highlights the ongoing threats to commercial vessels in the Red Sea, which has forced shipping giants such as Maersk to divert cargo around the Cape of Good Hope in Africa.

Persons: Brent, Tamas Varga, PVM Organizations: The West Texas Intermediate, International Energy Agency, Monday Locations: Suez, Ismailia, Egypt, East, Israel, Lebanon, Gaza, Rafah, U.S, Iran, Red, Hope, Africa, Aden

☆ Oil down in thin trade as U.S. gears up for Presidents' Day
▼ + stars: | 2024-02-19 | by ( ) www.cnbc.com time to read: +2 min

A pump jack at an oil lot connected to the Petroleos del Peru SA Talara refinery in Piura, Peru, on Wednesday, Dec. 13, 2023. Oil prices edged down on Monday morning as markets digested comments from U.S. Federal Reserve officials pointing to a more patient stance regarding potential interest rate cuts, in thin early trade on what is a public holiday in the United States. U.S. West Texas Intermediate crude was 35 cents, or 0.44%, lower at $78.84 at 0138 GMT. Markets are yet to see the direction of demand from China after that country returns from a week-long Lunar New Year holiday, while Presidents' Day in the United States is set to keep trade relatively muted. Higher rates keep up the cost of buying oil, providing for a bearish market trend.

Persons: Brent, Alexei Navalny, Vladimir Putin's Organizations: del, del Peru SA Talara, U.S . Federal, . West Texas, Yemen's, of, Petroleum, ANZ Research, International Energy Agency, ANZ, United Nations Security Council Locations: del Peru, Piura, Peru, U.S, United States, China, Gaza, Yemen's Iran, India, Algerian, Israel, Europe, Russia, Ukrainian, Avdiivka, Moscow

☆ Oil prices pull back as market tries to make sense of conflicting demand estimates
▼ + stars: | 2024-02-16 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

A flare burns excess natural gas in the Permian Basin in Loving County, Texas, U.S. November 23, 2019. Oil prices pulled back Friday as the market sorted through conflicting demand forecasts from OPEC and the International Energy Agency. The West Texas Intermediate contract for March lost 63 cents, or 0.81%, to $77.40 a barrel. April Brent futures dropped 75 cents a barrel to $82.09 a barrel, down 0.91%. The pullback comes after U.S. crude and the global benchmark rallied Thursday, brushing off a weak global demand forecast for 2024 from the IEA.

Persons: Brent Organizations: International Energy Agency, The West Texas Intermediate, IEA, Federal Reserve Locations: Loving County , Texas, U.S

☆ Oil prices roughly flat as unclear demand scenario weighed
▼ + stars: | 2024-02-16 | by ( ) www.cnbc.com time to read: +2 min

Oil prices meandered on Friday as investors pondered slowing demand forecast by an influential group and weak U.S. retail sales data that sparked optimism about U.S. interest rate cuts. Oil prices meandered on Friday as investors pondered slowing demand forecast by an influential group and weak U.S. retail sales data that sparked optimism about U.S. interest rate cuts. The U.S. Commerce Department report showed retail sales dropped 0.8% in January, the biggest fall since February 2023. Economists polled by Reuters had forecast retail sales dipping 0.1%. OPEC on Tuesday stuck to its much steeper growth forecast at 2.25 million bpd.

Persons: Hiroyuki Kikukawa Organizations: Brent, . West Texas, Reserve, U.S . Commerce Department, Reuters, NS, Nissan Securities, International Energy Agency, Organization of, Petroleum Locations: U.S, Paris, East, Lebanon, Gaza

☆ Why oil prices aren’t soaring despite Middle East uncertainty
▼ + stars: | 2024-02-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Oil prices spiked last month following US-led strikes on Houthi targets in Yemen in response to repeated attacks on commercial ships in the Red Sea. One factor that could be keeping the cap on oil prices is waning demand. “Global oil demand growth is losing momentum,” said the agency in its February report. While global oil demand growth is slowing, supply has stayed relatively strong, potentially putting further downward pressure on oil prices. “Higher global oil supply this year, led by the United States, Brazil, Guyana and Canada, should more than eclipse the expected rise in world oil demand,” said the report.

Persons: Bell, ”, Donald Trump, Matt Egan, —, Trump, Jay Ritter, Read, Anna Bahney, Freddie Mac, Sam Khater, Freddie Mac’s, Khater, Bob Broeksmit Organizations: CNN Business, Bell, New, New York CNN, West Texas, Brent, International Energy Agency, “, shuttering, Federal, US, United Arab Emirates, White, Wall, Trump, Truth Social, Trump Media & Technology Group, Securities and Exchange, Trump Media, SEC, University of Florida, Mortgage Bankers Association Locations: New York, Russia, Ukraine, Yemen, Red, United Kingdom, Japan, Germany, Iraq, United States, Brazil, Guyana, Canada

☆ Google is making a map of methane leaks for the whole world to see
▼ + stars: | 2024-02-15 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

Oil, gas, and coal operations are thought to account for 40% of global methane emissions from human activities. At least 155 countries have also signed the Global Methane Pledge, which calls for a 30% reduction in emissions. The pledge initially launched in 2021, but since then, methane emissions have continued to rise . To help change that trajectory, the US and Europe last year issued regulations cracking down on methane emissions from fossil fuel infrastructure. By 2027, those imports will have to meet methane emissions standards on par with Europe's.

Persons: Steve Hamburg, —, Yael Maguire, Maguire Organizations: Service, Google, Environmental Defense Fund, Business, International Energy Agency, Google Geo Locations: Agriculture, MethaneSAT, Dubai, Europe, Japan, South Korea, Hamburg

☆ Oil prices fall on forecast global demand in 2024 will grow at half last year's rate
▼ + stars: | 2024-02-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Crude oil demand is expected to grow by 1.2 million barrels per day this year, down nearly 50% from growth of 2.3 million bpd in 2023, according to the Paris-based International Energy Agency. "The expansive post-pandemic growth phase in global oil demand has largely run its course," the IEA wrote in its February oil market report Thursday. Supply, meanwhile, is expected to exceed demand and grow by 1.7 million bpd this year driven primarily by higher production in the U.S., Brazil, Canada and Guyana. "Given heightened geopolitical risks and low global oil inventories, a modest surplus may help contain market volatility," the IEA said. OPEC, on the other hand, is forecasting a much tighter oil market this year, with demand growing by 2.2 million bpd, outpacing production growth of 1.2 million bpd outside the cartel.

Persons: Brent Organizations: International Energy Agency . Futures, Brent, West Texas Intermediate, IEA, OPEC Locations: Loving County , Texas, U.S, Paris, Brazil, Canada, Guyana, East, Israel, Lebanon, Cairo, Gaza

☆ U.S. 'very concerned' about China's dominance as a critical minerals supplier, energy chief says
▼ + stars: | 2024-02-14 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +1 min

U.S. Energy Secretary Jennifer Granholm on Wednesday said the country is "very concerned" about China's grip on the global supply chain for critical minerals. China is the undisputed leader in the critical minerals supply chain, accounting for roughly 60% of the world's production of rare earth minerals and materials. "It's one of the pieces of the supply chain that we're very concerned about in the United States. We do not want to be over reliant on countries whose values we may not share," Granholm told CNBC's Silvia Amaro on Wednesday when asked about China's dominance as a critical minerals supplier. "We know all countries want to ensure that we have a critical stockpile of critical minerals and that we are allowed to diversify the supplies of those stockpiles.

Persons: Jennifer Granholm, Granholm, CNBC's Silvia Amaro Organizations: Energy, Wednesday, International Energy, International Energy Agency Locations: China, United States, Paris, France, U.S, Australia, Canada

☆ Beyond Tesla: Morningstar strategist names 2 under-the-radar stocks to play the EV revolution
▼ + stars: | 2024-02-14 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

The electric vehicle industry is seeing cutthroat competition between investor favorite Tesla and several Chinese automakers like BYD . "While Tesla grabs all the headlines, we don't necessarily think that it's going to be the electric vehicle manufacturers that do the best. Morningstar gives stocks a rating of between one and five stars, with a top rating indicating that the shares are undervalued. We think lithium prices are probably bottoming out here," he told CNBC Pro on Feb. 2. Shares of the U.S. lithium company have had a bumpy ride over the past days.

Persons: Tesla, David Sekera, Volkswagen —, Sekera, it's, Albemarle Organizations: Morningstar, Ford Motor, Volkswagen, CNBC Pro, International Energy Agency, Reuters Locations: BorgWarner, Albemarle, U.S

☆ IEA criticizes 'major gap' between Big Oil’s fossil fuel and clean energy investments
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIEA criticizes 'major gap' between Big Oil’s fossil fuel and clean energy investmentsFatih Birol, executive director at the International Energy Agency, discusses the transition strategies of oil and gas majors.

Organizations: IEA, Fatih, International Energy Agency

☆ As the Year of the Dragon begins, the pros name sectors — and stocks — to play the Chinese market
▼ + stars: | 2024-02-13 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +6 min

Chinese stocks had an eventful week last week — with the benchmark Shanghai Composite Index hitting a five-year low of about 2,650 points on Feb. 5, before edging up to end the week at 2,865.90. A slide in Hong Kong-listed Chinese shares on Feb. 9, however, proved that investors may still have lingering concerns on the prospects of Chinese stocks in the new year. As the festive season gets underway, Redmond Wong, market strategist at investment firm Saxo, sees several opportunities to play the market. Boom in green transformation Beyond the traditional sectors, Saxo's Wong is watching an up-and-coming area in China: energy security and a green transformation. Data from the International Energy Agency shows that the Asian giant's clean-energy sectors contributed 11.4 trillion Chinese yuan ($1.6 trillion) to the Chinese economy in 2023, up 30% year-on-year.

Persons: Redmond Wong, Saxo, I'm, Wong, Saxo's Wong, Morningstar, Zijin Organizations: CNBC Pro, Monetary Fund, Technology, Shenzhen, Baidu, Sands, Tsingtao, Morningstar, Tsingtao Brewery, International Energy Agency, Companies, Zijin Mining Locations: Shanghai, Hong Kong, China, Zhejiang, Sands China, Macao, Shandong

Diamondback Energy will attempt to buy rival Endeavor Energy Resources to create an energy giant in the Southwestern United States worth more than $50 billion. A tie-up between Diamondback and Endeavor, if it succeeds, would create a player in the massive Permian Basin oil and gas field that straddles Texas and New Mexico. Photos You Should See View All 22 ImagesEndeavor is the largest private operator in the Permian Basin. Lower oil prices are good for U.S. drivers, as it means they'll pay less at gas pumps. Shareholders of Diamondback Energy Inc. will own about 60.5% of the combined company, while Endeavor’s equity holders would own approximately 39.5%.

Persons: Hess, Diamondback, Travis Stice, ” Stifel's Derrick Whitfield, ” Stice Organizations: Diamondback Energy, Endeavor Energy Resources, Southwestern United, Exxon Mobil, Mobil, Diamondback, Endeavor, Exxon, Chevron, Drillers, OPEC, U.S, International Energy Agency, Diamondback Energy Inc, Chesapeake Energy, Southwestern Energy, Occidental Locations: Southwestern United States, U.S, Texas, New Mexico, United States, Israel, Midland , Texas

☆ It’s not just Taylor Swift: Record number of private jet flights expected for this year’s Super Bowl
▼ + stars: | 2024-02-09 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

Story highlights Clark County expects more than 1,000 private jets -- a record -- to fly in for the Super Bowl. New York CNN —No one’s trip to the Super Bowl is getting more attention than Taylor Swift. The Super Bowl typically draws the highest number of US private jet flights of any event during the course of a year, according to WingX, which tracks private jet traffic. So it’s not surprising that the city’s first Super Bowl could be a record breaker for private jet traffic. The impact on climateThe attention to Taylor Swift’s private jet travel plans has brought some attention to the climate change implications of those flights.

Persons: Taylor Swift, she’s, it’s, Harry Reid, They’ll, ”, Joe Rajchel, WingX, Rajchel, “, That’s, Taylor, Richard Koe Organizations: Super, New, New York CNN, Miami, Harry Reid International Airport, Las, Allegiant, Henderson Executive Airport, Federal Aviation Administration, Clark County Department of Aviation, Las Vegas, Prix, FAA, National Football League, Super Bowl, CNN, Jet, International Energy Agency, Institute for Policy Studies, Private Locations: New York, Tokyo, Vegas, Clark, Las Vegas, Phoenix, Boulder City, Hoover, California, Washington

Increasingly, voters are demanding that the men vying to succeed him address the tradeoffs between fast growth and a healthy environment in the world's fourth most populated country. In recent years, surging commodity prices have fueled fast economic growth and helped Indonesia become a middle-income country. That growth is expected to slow as the boom loses steam, according to a World Bank report. “That means, if the government forces its development, it will involve inefficient and unproductive allocation of resources.”Another campaign issue: food estate programs, massive plantations the government set up to fortify national food security. INDONESIA’S ENERGY TRANSITIONIn 2021, coal-rich Indonesia was the world’s ninth-largest source of carbon emissions that are causing global warming, according to a report by the International Energy Agency.

Persons: —, Joko Widodo, It's, Joko Widodo —, Prabowo Subianto, Josua Pardede, ”, Arianto Patunru, Baswedan, Bhima Yudhistira Adhinegara, El Organizations: Permata Bank, EV, Australian National University, of Economic, Law Studies, International Energy Agency, World Bank, Youth, Bank, El Nino, AP Locations: JAKARTA, Indonesia, Jakarta, Nusantara, Borneo, Anies, Central Java, Widodo, Washington, Kalimantan

BANGKOK (AP) — Chinese and U.S. officials have met in Beijing for talks on tough issues dividing the two largest economies, as trade and tariffs increasingly draw attention in the runup to the U.S. presidential election. The talks sent a “positive signal,” the Global Times, a newspaper of China’s ruling Communist Party, said in an article published late Tuesday. The two sides said the talks in Beijing also touched on issues such as debt problems in developing countries, financial cooperation and economic policies. The Economic Working Group's meeting was its third since it was established in September and its first in Beijing. A Treasury delegation met with Chinese Vice Premier He Lifeng while in Beijing and conveyed a message that Yellen hoped to visit China at an “appropriate time.”

Persons: Joe Biden, Xi Jinping, Biden, Donald Trump, Yellen, ” Organizations: U.S, China’s Ministry of Finance, Global Times, Communist Party, U.S . Treasury Department, International Energy Agency, Treasury Department, Trump, Treasury Locations: BANGKOK, Beijing, U.S, China, Europe, San Francisco , California, Taiwan

☆ Electricity demand from data centers, AI and crypto could double in 2 years. How to play it
▼ + stars: | 2024-02-06 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

The firm pointed to recent data from the International Energy Agency, which forecasted that electricity consumption from data centers, artificial intelligence and the cryptocurrency sector could double by 2026. "The latest IEA electricity forecasts paint an even more alarming outlook for data center consumption," analyst Hiral Patel wrote in a Monday note. Barclays said it is looking at three investment areas that are a key part of the trend: data center operators, data center suppliers and data center grid infrastructure builders. After successfully using lithium-ion batteries at a Dublin data center , Microsoft wants to expand grid-interactive battery storage in other areas. That includes nine data centers in Ireland, which is a data center hotspot in Europe that's also under increased risk given its soaring electricity consumption, Barclays said.

Persons: Hiral Patel, Morgan Stanley's, Europe that's, Stifel Nicolaus, Eaton Organizations: Barclays, International Energy Agency, CNBC, Microsoft, Electricity, Constellation, Digital Realty Trust, Digital, European Union, Blackstone, Digital Realty, Devices, AMD, Tech Locations: Japan, U.S, Dublin, Ireland, Europe, European, Frankfurt, Paris, Virginia

☆ 'Super exciting': World Biogas Association discusses outlook for biogas and biomethane
▼ + stars: | 2024-02-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Super exciting': World Biogas Association discusses outlook for biogas and biomethaneCharlotte Morton of the World Biogas Association cites an International Energy Agency report "demonstrating that the growth rate could be increasing to well over 30%, 40% annually."

Persons: Charlotte Morton Organizations: International Energy Agency

☆ Paris SUV parking charges to triple as voters back mayor’s initiative
▼ + stars: | 2024-02-05 | by ( Chris Liakos | Laura Paddison | ) edition.cnn.com time to read: +3 min

Paris CNN —Parisians voted in favor of tripling the parking costs for SUVs on Sunday, following a proposal by the Paris mayor’s office, as the city aims to cut air pollution and tackle the climate crisis. Citizens were asked to decide whether there should be a specific parking rate for “heavy” and “polluting” vehicles. The results of the Paris vote are expected to be verified on Monday by the electoral commission. Paris Mayor Anne Hidalgo thanked those who cast their vote on Sunday, stressing that it was a question about ecology, road safety and public health. Some car associations have come out strongly against the SUV proposal, however, including the group 40 Millions d’Automobilistes (40 Million Motorists).

Persons: Paris Mayor Anne Hidalgo, Hidalgo Organizations: Paris CNN, Paris, Citizens, €, International Energy Agency, Paris Mayor Locations: Paris, US, India, Europe

☆ Activist Bluebell believes BP is 50% undervalued compared to peers
▼ + stars: | 2024-02-03 | by ( Kenneth Squire | ) www.cnbc.com time to read: +11 min

The company's segments include gas & low-carbon energy, oil production & operations and customers & products. Its gas business includes upstream activities that produce natural gas, integrated gas and power, and gas trading. Its oil production & operations segment comprises upstream activities that produce crude oil, including Bpx Energy. As of Bluebell's October 4, 2023, letter to BP, BP traded on a price-earnings ratio of 6.7 times, a 44% discount to Chevron and ExxonMobil, which on average traded at 12 times. To make it even clearer how the market views BP's strategy, on February 7, 2023, when BP announced its partial retracement from this strategy, BP's share price rose 8% on the day and 17% on the week.

Persons: Giuseppe Bivona, Marco Taricco, Bivona, –, Helge Lund, Bluebell, BP's, Bernard Looney, Shell, Looney's, Looney, Pamela Daley, Solvay, Glencore, Ken Squire Organizations: BP Bunge, Bpx Energy, Castrol, Bluebell Capital Partners, Bluebell Partners, BP, ExxonMobil, Chevron, Bluebell, International Energy Agency, EV, Exxon, Shell, Mr, Renewables, Power, BP's Board, BlackRock, 13D Locations: bioenergy, Europe, Bluebell, Paris, Bioenergy, United States, U.S

☆ The US, Russia and China are in a race to dominate new-wave nuclear energy — and win global influence
▼ + stars: | 2024-02-01 | by ( Angela Dewan | Ella Nilsen | ) edition.cnn.com time to read: +12 min

Russia's floating nuclear power plant, Akademik Lomonosov, leaving the service base Rosatomflot on August 23, 2019. For some experts, nuclear energy — in all forms, large or small — has an important role to play in that transition. Globally, the construction of conventional nuclear power plants dipped following the Chernobyl meltdown in 1986. Russia has already built or designed nuclear plants — the traditional type — for China, India, Bangladesh, Turkey, Slovakia, Egypt and Iran. “It certainly dampens the excitement abroad,” said John Parsons, a senior lecturer at MIT and a financial economist focused on nuclear energy.

Persons: Akademik Lomonosov, Biden, Lomonosov, Maxim Shemetov, “ There’s, ”, Josh Freed, China —, Vladimir Putin’s, Bill Gates ’, Luo Yunfei, Kirsten Cutler, they’re, Cutler, ” Cutler, They’re, John Parsons, John Kerry, Thomas Mukoya, Way’s Freed, “, ” Parsons, Mohammed Hamdaoui, ” Hamdaoui, “ It’s Organizations: CNN, Reuters, European Union, International Energy Agency, Energy, World Nuclear, IEA, US, SMR, US Export, Import Bank, International Development Finance Corporation, GE Hitachi Nuclear Energy, China, Changjiang, China News Service, Nuclear Energy, US State Department, “, MIT, InfluenceMap, The State Department, Nuclear Regulatory Commission, NRC, Rystad Energy Locations: Alaska, Russian, Russia, China, European, Japan, India, South Korea, Europe, Dubai, America, Poland, North Carolina, Southeast Asia, Bangladesh, Turkey, Slovakia, Egypt, Iran, Lomonosov, Siberia, Russia’s, Washington, Bill Gates ’ TerraPower, Wyoming, Changjiang Li Autonomous County, Hainan province, United States, Oregon, Idaho, United Arab Emirates

☆ Factories in developing Asia may have seen the worst of manufacturing slump
▼ + stars: | 2024-02-01 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Photographer: Linh Pham/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesMost developing economies in Asia might have left the worst of the broad manufacturing slowdown behind in 2023, according to a series of private surveys released Thursday. South Korea's S&P manufacturing purchasing managers' index recorded its first expansionary reading since June 2022 at 51.2 in January, up from 49.9 in December. "The health of the South Korean manufacturing sector registered a renewed improvement at the start of 2024. Growth was reportedly reflective of increased domestic and international orders, particularly for new products," Bhatti added. These private PMI surveys are typically seen as one of several leading indicators of economic activity in the respective economies.

Persons: Linh Pham, Usamah Bhatti, Bhatti, Annabel Fiddes Organizations: Wind Corp, Vung, Renewables, International Energy Agency, Bloomberg, Getty Images Bloomberg, Getty, P Global Market Intelligence, Vietnam, ASEAN, PMI, International Monetary Fund, IMF, " Companies Locations: Tan Thanh, Ba, Vung Tau Province, Vietnam, Asia, China, Taiwan, Malaysia, Thailand

Valvoline had last year decided to separate its retail services and global products divisions following a strategic review. Saudi Arabia's state-controlled Aramco on Tuesday announced it is pausing plans to raise its crude production capacity from 12 million barrels per day to 13 million barrels per day. At 7 a.m. London time, Brent crude prices for March delivery were up 0.24% from previous close price at $82.60 per barrel. The Tuesday announcement comes amid mounting concerns over the outlook for oil demand worldwide, given a progressing global transition toward decarbonization that casts a shadow over long-term investment projects in fossil fuels. Global oil demand is projected to have risen by 2.3 million barrels per day in 2023 to 101.7 million barrels per day, according to the International Energy Agency's annual report published in December.

Persons: Valvoline, Brent Organizations: Saudi Ministry of Energy, Aramco, International Energy Locations: Saudi Arabia's, Aramco, London

☆ Russia boasts it is beating sanctions, but its longer-term prospects are bleak
▼ + stars: | 2024-01-29 | by ( Tim Lister | ) edition.cnn.com time to read: +14 min

Far from buckling under their weight, the Russian economy is in fact 1% larger than it was on the eve of the invasion. India and China now account for 90% of Russian oil exports, according to Deputy Prime Minister Alexander Novak. Noemi Cassanelli/CNNThere’s little sign that ordinary Russians have been drastically impacted by Western sanctions. Sanctions will have a long-term impact on the Russian economy, according to the European Commission. Nabiullina said the Russian economy was like a car trying to go too fast.

Persons: Vladimir Putin, Putin, Sergei Chemezov, ” Chemezov, Scott Peterson, Alexander Novak, Christine Abely, “, ”, SWIFT, Alexei Mordashov, Noemi Cassanelli, Geoffrey Pyatt, Rachel Lyngaas, —, Alexander Nemenov, Elvira Nabiullina, Nabiullina, Natalia Kolesnikova, ” Abely Organizations: CNN, Atlantic Council, Russia, West ., Shipping, Windward, Reuters, US Treasury Department, United Arab Emirates, Crime Agency, US Treasury, “, Bank of, European, US, Financial Times, Russian Central Bank, Getty, Producers, International Energy Agency Locations: United States, Ukraine, Russian, Russia, Western, Sviatohirsk, Donetsk region, Asia, West, West . India, China, India, Volgograd, Turkey, UAE, Bank of Finland, Hong Kong, Europe, Egypt, Thailand, Moscow, Kazakhstan, Soviet Russia, AFP, Beijing

☆ This startup wants to be the leading clean energy provider to businesses. Check out the 12-slide pitch deck Reel used to raise $5.4 million.
▼ + stars: | 2024-01-22 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Businesses can currently purchase certificates or credits to say they have used renewable energy, representing the output from a renewable energy project that's already supplying the grid. The startup's platform aggregates smaller companies' energy demands so they can sign PPAs, which locks in a fixed price. It will also expand into new European markets and grow its 15-strong team across tech, energy, commercial, and operations. With its eye on becoming the leading B2B energy provider, the startup plans to build energy storage and demand response capabilities down the line.

Persons: —, David, Jon Sigvert, Sigvert, Daniel Nathan Organizations: Service, Business, Energy, International Energy Agency . Companies, Fortune, UVC Partners, Firm Locations: Copenhagen, Ukraine, Finland

☆ Oil extends losses as economic headwinds weigh on demand outlook
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell for a second day on Monday as economic headwinds pressured the global oil demand outlook and outweighed geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend. Brent crude fell 41 cents, or 0.5%, to $78.15 a barrel by 0105 GMT after settling down 54 cents on Friday. "This morning's subdued re-open speaks volumes about current sentiment in the crude oil market despite ongoing geopolitical tensions in Europe and the Middle East," IG analyst Tony Sycamore said. Russian producer Novatek aid on Sunday it had been forced to suspend some operations at the Baltic Sea terminal because of a fire. In the Middle East, the Gaza war rages on while the U.S. struck another anti-ship missile preparing to launch into the Gulf of Aden by Yemen's Houthi militants on Saturday.

Persons: headwinds, Brent, Tony Sycamore, Yemen's, IG's Sycamore, Baker Hughes, JP Morgan Organizations: West Texas, U.S . Energy Information Administration, International Energy Agency, Organization of, Petroleum, Energy Locations: Red, Ras Behar, Egypt, Europe, Ukrainian, Russian, Gaza, U.S, Aden, Iran, China

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