Trump List of Saved Projects Spares $5B Hydrogen Hubs
The U.S. Energy Department released a 39‑page list preserving roughly $5 billion in funding for five hydrogen hub projects across Texas, Appalachia, the mid‑Atlantic and the Midwest. The list also reinstates $1.2 billion for two direct‑air capture initiatives and retains $1 billion in grants to automakers Stellantis and General Motors. The Trump administration’s case‑by‑case review covers about 2,200 projects and $15 billion in grants, signaling a selective approach rather than a wholesale rollback of Biden‑era clean‑energy spending.
USA Crude Oil Stocks Drop Almost 1MM Barrels WoW
The Energy Information Administration’s weekly petroleum status report for the week ending April 10 shows U.S. commercial crude inventories fell 0.9 million barrels to 463.8 million barrels, roughly one percent above the five‑year seasonal average. Total petroleum stocks dropped 13.1 million barrels week‑on‑week while...
Bessent Says USA Won't Renew Iranian, Russian Oil Waivers
U.S. Treasury Secretary Scott Bessent confirmed that the United States will not renew the general licenses that temporarily allowed the sale of Russian and Iranian crude. The waivers expired this weekend, leaving the Strait of Hormuz—a chokepoint for roughly 20%...
Rystad Says Energy Repair Costs From War Could Hit $58B
Rystad Energy says repair and restoration of Gulf energy infrastructure could total $58 billion, with oil and gas assets alone accounting for up to $50 billion and a median estimate of $46 billion. The analysis, updated after an initial $25 billion figure, highlights Iran...
Aussie Refinery Reduces Production After Fire
A significant fire at Viva Energy’s Geelong refinery in Victoria forced the plant, which processes 120,000 barrels per day, to operate at reduced rates, mainly affecting gasoline and aviation‑gasoline output. The refinery supplies over 50% of Victoria’s fuel and about...
Oil Prices Holding Firm
Oil prices are stabilizing after a sharp pullback from war‑driven panic levels, with Brent sliding from a recent high of $111.80 to a 28‑day low of $90.40. The U.S. Energy Information Administration reported a 0.9 million‑barrel draw in commercial crude inventories...
Equinor to Exit RE Producer Scatec
Equinor sold an 8.07% stake in renewable‑power producer Scatec for NOK 1.6 billion (about $169 million), cutting its holding to 8.05% and entering a 90‑day lock‑up on the remaining shares. The transaction makes Norway’s sovereign‑pension manager Folketrygdfondet the largest Scatec shareholder with 9.6%...
EIA Boosts 2026 Brent Oil Price Projection to $96
The U.S. Energy Information Administration raised its 2026 Brent crude price outlook to an average of $96 per barrel, up sharply from the $78.84 forecast in March. The agency now expects a volatile quarterly path, with Brent hitting $114.60 in...
Analyst Flags Peace Momentum but Gives Oil Market Warning
SEB commodities analyst Ole R. Hvalbye noted that front‑month Brent fell to $94.79 per barrel, a drop of more than 4% from the previous day's high of $103.87. He attributed the sell‑off to growing diplomatic momentum, including potential U.S.–Iran talks...
Meloni Says It's 'Too Early' To Tap Russian Gas
Italian Prime Minister Giorgia Meloni said it is too early to consider re‑importing Russian gas, despite soaring energy prices driven by the Iran conflict. She emphasized that economic pressure on Russia remains Europe’s strongest lever for a peace settlement in Ukraine,...
India Piles Up Export Tax on Diesel, Jet Fuel
India has more than doubled its export duty on diesel to 55.5 rupees (≈ $0.60) per litre, up from 21.5 rupees, and raised jet‑fuel export duty to 42 rupees (≈ $0.45) per litre from 29.5 rupees. The measures are intended to shore...
Eni Invests $70MM in Canadian Battery Feedstock Project
Italian energy giant Eni is injecting $70 million USD in equity into Quebec‑based Nouveau Monde Graphite (NMG) and will purchase up to 15,000 tonnes per year of graphite concentrate from the second phase of NMG’s Matawinie Mine. The deal gives Eni an...
Iberdrola Nears Full Takeover of Brazil's Neoenergia
Iberdrola has increased its stake in Brazil’s Neoenergia to 98%, moving toward a full takeover that could be completed within weeks via a squeeze‑out right. The latest purchase added 14.2% of shares at BRL 33.77 per share (about $6.6), amounting to...
Crude Climbs as Hormuz Disruptions Persist
Oil prices rose sharply on Thursday as West Texas Intermediate settled at $97.87 and Brent at $95.92, driven by persistent disruptions in the Strait of Hormuz and a reported 600,000‑barrel‑per‑day cut to Saudi production capacity. Despite a tenuous cease‑fire between...
Chevron Sees Lower Output Due to Iran War
Chevron reported a 6% drop in first‑quarter production, falling to 3.8‑3.9 million net oil‑equivalent barrels per day, down from 4.05 million in Q4 2025. The decline stems from reduced output in the Persian Gulf, Israel, and a shutdown in Kazakhstan. Chevron also warned...
