Oil Prices Drop After Iran Ceasefire
Oil futures Brent WTI ceasefire Iran: Oil futures cratered on Wednesday morning after President Trump suspended a wide-ranging bombing campaign on Iran and announced a two-week ceasefire in the US-Iran war. Brent crude fell 14% and West Texas Intermediate dropped more than 16% in early trading.
Tanker Traffic Hinges on Hormuz Stability
Strait of Hormuz tanker traffic oil shipping: Keep your eyes on what happens following the U.S. and Iran ceasefire and whether it gives tanker owners enough certainty to start resuming significant traffic of oil, petroleum products and other commodities through the Strait of Hormuz.
Russian Oil Exports Halted After Drone Attack
Russia Novorossiysk Sheskharis terminal oil exports: Crude oil exports from Russia’s Sheskharis terminal in the Black Sea port of Novorossiysk were suspended after a massive drone attack and a fire, two sources familiar with the matter said.
Ukraine Operations Linked to Libya Strike
Ukraine Libya Russian tanker Mediterranean strike: Ukrainian forces are operating in western Libya under a covert deal endorsed by the West, and they used the Northern African country’s territory to strike a Russian tanker in the Mediterranean last month, two Libyan officials said Tuesday.
India Turns to Venezuela Oil Supplies
India Venezuela crude imports sanctions lifted: India is expected to import the highest volumes of crude from Venezuela in six years as refiners returned to purchasing the now-unsanctioned oil just before the war in the Middle East crippled supply to the world’s third-largest crude importer.
U.S. Energy Developments
Gasoline Prices Edge Higher
US gasoline prices AAA $4.16 per gallon: The average U.S. regular gasoline price is up another couple of cents to $4.16 per gallon, per AAA, but could start dropping within days.
$135 Million Investment in Fusion Energy
ARPA-E fusion energy funding $135 million: The Energy Department’s Advanced Research Projects Agency-Energy (ARPA-E) will commit $135 million over the next 18 months to accelerate the development of fusion energy technologies.
States Seek Nuclear Development Opportunities
nuclear energy development Tennessee Utah Idaho Nebraska: Four states — Tennessee, Utah, Idaho, and Nebraska — say they’re interested in hosting the entire range of nuclear energy-related development, including high-level waste.
New Hampshire Solar Bill Considered
New Hampshire plug-in solar systems legislation: New Hampshire lawmakers consider a bill authorizing and regulating the use of plug-in solar systems.
Offshore Wind Projects Get Quiet Boost
offshore wind projects US Interior Department decision: The U.S. Interior Department quietly fails to appeal a court decision that allowed work to restart on offshore wind projects halted by the administration, an omission that could be an early sign of hope for the industry, experts say.