Shell CEO warns that energy shortages could occur in Europe by the end of next month.
Shell CEO Wael Sawan warned on Tuesday that energy shortages in Europe could occur by the end of next month. Sawan added that Shell is working with governments in order to address the energy crisis. This includes storage and purchasing. Sawan said that the Middle East conflict has already impacted jet fuel supplies. Diesel and gasoline will follow as the summer driving season begins in Northern Hemisphere.
European Energy Shortages Could Be Felt By April
Energy shortages could hit Europe by next month, Shell CEO Wael Sawan said on Tuesday, adding that securing adequate energy supply was critical to national security.Countries cannot have national security without energy security, Sawan said, adding that Shell was trying to work with governments to help them address the energy crisis, including with storage and purchasing.
Modi and Trump discuss the importance of keeping Strait of Hormuz Open
?Indian PM Narendra Modi, and?U.S. In separate posts on X, U.S. Ambassador to India Sergio Gor, and Modi, said that President Donald Trump called him on Tuesday, discussing the'situation in the Middle East', including the importance of maintaining the Strait of Hormuz. It was the first time the two leaders had spoken since the U.S., Israel and Iran launched coordinated attacks against Iran on February 28.
Gulf Stocks Mixed amid Confusion over US-Iran Talks
Gulf markets closed mixed on Tuesday. Qatar?extended losses, while other bourses stabilized as investors parsed contradictory signals about potential U.S.Iran 'talks. The mood was volatile when U.S. President Donald Trump delayed attacks on Iran's energy infrastructure and spoke of "productive" talks to end the U.S.-Israeli conflict with Iran. But Tehran dismissed this comment as "fakenews".
Russell: The war fuel crisis in Iran gives electric vehicles a boost for the long term.
The U.S. president Donald Trump is known for his support of fossil fuels. However, the war on Iran will likely result in an acceleration of energy transitions, particularly in Asia. Retail fuel prices have risen rapidly in the world's fastest-growing and most populous region since the U.S.-Israeli aerial campaign against Iran began on February 28. In Australia, for example…
Palm oil falls more than 1% due to weaker competitor oils and geopolitical tensions
After a long Eid holiday, Malaysian palm oils futures ended more than 1% lower on Tuesday. Weaker edible 'oils from rival countries weighed heavily on the market. The 'Middle East war also kept traders on edge. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for June delivery fell 72 ringgit or 1.56% to 4,539 Ringgit ($1,148.24). A Kuala Lumpur based trader stated that price movements in the?Dalian Palm olein?
Prices of EUROPE GAS continue to fall as the market watches developments in Iran war
Dutch and British wholesale contracts for gas extended losses on Tuesday, following a sharp fall in the previous session. This was after U.S. president Donald Trump announced that he would delay military strikes against Iran, and that an agreement with Iran could be reached "within five or less days". Data from the Intercontinental Exchange revealed that the Dutch…
Gulf stocks mixed after Iran denies US talks, Qatar continues decline
Gulf stock markets were unable to find direction during early trading Tuesday. Qatar's fall was exacerbated by mixed messages about U.S.Iran talks following President Donald Trump's decision to delay strikes on Iran's energy infrastructure. Trump made his decision on Monday based on what he called productive discussions with Iranian officials. Iran denied, however, that it had held negotiations with the U.S.
Russell: The war fuel crisis in Iran gives electric vehicles a boost for the long term.
The U.S. president Donald Trump is known for his support of fossil fuels. However, the legacy of war against the?Iran will likely be an acceleration in the energy transition. This is especially true in Asia. Retail fuel prices have risen rapidly since the U.S.-Israeli aerial campaign began on February 28, causing the world's fastest growing region to be hit by the fallout.
Mixed oils and geopolitical tensions weigh on the palm oil price
The price of Malaysian palm oil futures was a little tighter on Tuesday after the long Eid holiday break. By midday, the benchmark palm oil contract on the Bursa Derivatives exchange traded between 4,565 and 4,597 Ringgit per ton. It then settled 0.63% lower ($1,161.18) at 4,582 Ringgit. A trader based in Kuala Lumpur said that mixed price movements between Dalian palm oil and Chicago soybean oils kept palm futures within a tight range.
NextEra CEO: NextEra has secured land in Texas to build a giant gas plant that will power data centers
NextEra Energy secured land in?Texas to build a gas-fired power plant that will be used to power a massive data?center. The project is backed by a U.S.Japan agreement. Last week, the power provider revealed that President Donald Trump's administration had approved the construction of two gas plants totaling 10 gigawatts in Texas and Pennsylvania. This will help to meet the exploding electricity demands of data centers.
Iran denies talking to US after Trump delays strikes on power grid
Iran denied on Monday that it was in negotiations with the United States after President Donald Trump backed down from a threat to attack Iran's electricity grid due to?productive talks he had with unidentified Iranian officials. An official from Europe said that although there were no direct talks between the two countries, Egypt, Pakistan, and Gulf states "were relaying" messages. An official from Pakistan and a second person told?
Prices for gas in Europe fall after Trump delays strikes against Iran power plants
The European benchmark contract for gas fell sharply Monday after U.S. President Donald Trump announced he would delay strikes on Iranian energy infrastructure and power plants, saying that a deal could be reached with Iran "within five days or sooner". Intercontinental Exchange data showed that the benchmark Dutch front-month contract at the TTF hub had fallen 4.14 euros to?55.12 per megawatt hour by 1322 GMT.
US energy and interior secretaries met executives amid market turmoil
Energy executives gathered in Houston on Sunday to discuss everything from increasing domestic oil production to Venezuelan opportunities. This was during the worst global supply disruption due to the U.S. and Israeli war against Iran. The meeting was held over dinner on the eve of the CERAWeek energy conference where oil ministers, executives of major companies…
UAE's ADNOC Gas adjusts LNG production in response to the shipping disruption
ADNOC's gas subsidiary, the state-owned oil company of Abu Dhabi, announced on Monday that it had temporarily adjusted its production of liquefied natural gas and export traded liquids in response to the ongoing shipping disruptions in Strait of Hormuz. The U.S. and Israeli war against Iran intensified over the weekend, after President Donald Trump warned that he would "obliterate"…
EUROPE GAS - European prices are rising due to Middle East energy war fears
Dutch and British Gas Contracts rose on Monday morning and are likely to face another volatile trading session, as the Middle East war risks escalating strikes against energy infrastructure. The reopening of Strait of Hormuz is still a long way off. Data from Intercontinental Exchange showed that the benchmark Dutch front-month contracts?at TTF hub were up?3.01 euros at 62.35 euros per megawatt hour (MWh), by 0901 GMT.
UAE shares fall on Iran's warning of retaliation against Gulf water and energy infrastructure
The stock markets of the United Arab Emirates fell on Monday, 'after Iran warned that it would attack energy and water infrastructure in the Gulf region if U.S. president Donald 'Trump followed through with a threat to attack its electricity grid. Trump threatened on Saturday to "obliterate", Iran's nuclear power plants, if Tehran does not reopen the Strait of Hormuz in 48 hours.
US energy and interior secretaries met executives amid market turmoil
Energy executives from the United States and Venezuela met with U.S. Energy Sec. Chris Wright, Interior Sec. Doug Burgum on Sunday in Houston to discuss everything from increasing domestic oil production?to Venezuelan opportunities. This was during the worst?supply interruption in history due to U.S. and Israeli war against Iran. The dinner meeting was held on the eve if the annual CERAWeek conference where oil ministers…
Iran threatens to retaliate after Trump's ultimatum against Gulf water and energy
Iran has warned that it will strike water and energy infrastructure in the Gulf region if U.S. president Donald Trump follows through with his threat to "attack" its electricity grid. This is raising fears about a massive disruption of drinking water for a region heavily reliant on desalination. Trump gave a deadline of 7:45 pm EDT (2345 GMT) on Monday, warning late…
Ukraine, US teams conclude talks, new POW exchange possible, Zelenskiy says
On Sunday, Volodymyr Zelenskiy announced that the Ukrainian and U.S. delegations had concluded their'second day' of talks on ways to end a four-year war with Russia. The talks that began in Florida on Sunday were without Russian participants. Originally, they were expected to attend negotiations in Abu Dhabi. The U.S. delegation is led by Steve Witkoff, a special envoy and Jared Kushner - President Donald Trump's daughter-in-law.