Energy

Government ministers are trying to reassure the public that fuel availability nationally will not be impacted.

‘Treasury is moving aggressively with Economic Fury by targeting regime elites,’ the treasury secretary said.

The White House has authorized construction of the new Bakken pipeline and renewed operating authority for Enbridge facilities along the U.S.–Canada border.

‘At this point, the impact is mainly on petrol production, but obviously this is very early days,’ said Energy Minister Chris Bowen.

‘I’m optimistic that sometime between June 20 and September 20, we can have $3 gas again,’ Treasury Secretary Scott Bessent said.

The Treasury chief said the economy remains strong, while Trump predicted that energy prices would drop quickly.

Energy disruptions related to the Middle East conflict risk a recession-like slowdown and elevated price pressures.

A peak oil price due to the dispute over the strait will occur in the coming weeks, the secretary says.

The energy watchdog predicts oil supply to plummet by 1.5 million barrels per day this year, a massive drop from the 1.1 million rise it forecast last month.

The oil giant has secured a greater stake in the South American country’s vast Orinoco Belt, which sits atop the world’s largest reserves of extra-heavy crude.

Iraq leads March’s sharp decline in crude production.

Prices are up almost 20 percent from a month ago. The last time they were this high was in August 2022.

The new law allows for permits to be approved based on Nuclear Regulatory Commission-compliant waste storage.

Willie Walsh, director general of IATA, said that data from April and May would provide a clearer picture of the ​scale of disruption.

Fatih Birol said he was ’very pessemistic' about the situation facing the global economy due to the continued blockage of the Strait of Hormuz.

Sticky inflation, high interest rates, and private credit are some of the risks to the U.S. economy this year.

The United States military may target Iran’s power plants and bridges this week if Tehran does not open up the Strait of Hormuz, the U.S. president has warned.

Energy Minister Chris Bowen said the nation originally had supply until mid-April, but that had now been secured into May.

The decision to increase production by 206,000 barrels per day is equivalent to less than 2 percent of the oil supply affected by closure of the Hormuz Strait.

The output increase came despite lower rig counts and fewer wells being drilled.

Government ministers are trying to reassure the public that fuel availability nationally will not be impacted.

‘Treasury is moving aggressively with Economic Fury by targeting regime elites,’ the treasury secretary said.

The White House has authorized construction of the new Bakken pipeline and renewed operating authority for Enbridge facilities along the U.S.–Canada border.

‘At this point, the impact is mainly on petrol production, but obviously this is very early days,’ said Energy Minister Chris Bowen.

‘I’m optimistic that sometime between June 20 and September 20, we can have $3 gas again,’ Treasury Secretary Scott Bessent said.

The Treasury chief said the economy remains strong, while Trump predicted that energy prices would drop quickly.

Energy disruptions related to the Middle East conflict risk a recession-like slowdown and elevated price pressures.

A peak oil price due to the dispute over the strait will occur in the coming weeks, the secretary says.

The energy watchdog predicts oil supply to plummet by 1.5 million barrels per day this year, a massive drop from the 1.1 million rise it forecast last month.

The oil giant has secured a greater stake in the South American country’s vast Orinoco Belt, which sits atop the world’s largest reserves of extra-heavy crude.

Iraq leads March’s sharp decline in crude production.

Prices are up almost 20 percent from a month ago. The last time they were this high was in August 2022.

The new law allows for permits to be approved based on Nuclear Regulatory Commission-compliant waste storage.

Willie Walsh, director general of IATA, said that data from April and May would provide a clearer picture of the ​scale of disruption.

Fatih Birol said he was ’very pessemistic' about the situation facing the global economy due to the continued blockage of the Strait of Hormuz.

Sticky inflation, high interest rates, and private credit are some of the risks to the U.S. economy this year.

The United States military may target Iran’s power plants and bridges this week if Tehran does not open up the Strait of Hormuz, the U.S. president has warned.

Energy Minister Chris Bowen said the nation originally had supply until mid-April, but that had now been secured into May.

The decision to increase production by 206,000 barrels per day is equivalent to less than 2 percent of the oil supply affected by closure of the Hormuz Strait.

The output increase came despite lower rig counts and fewer wells being drilled.