President sends message to Iran
** U.S. President Donald Trump urged Iran on Wednesday to ‘get smart soon’ and sign a deal, following days of deadlock in efforts to end the conflict and a media report that the U.S. would extend its blockade of Iran’s ports.
Reduce global oil supply
** Nine weeks into the Iran war, the global economy continues to lose record volumes of oil supply — yet prices have remained relatively contained and well below all-time highs. Those prices could soon change as “something is off” in the math, according to JPMorgan oil strategists.
Ukraines and their drones
** A major Russian oil refinery on the Black Sea has been hit for the third time this month by Ukrainian drones, causing a “massive fire” and forcing the evacuation of people living nearby, local officials have said.
Toothless order?
** Prime Minister Keir Starmer’s decision last month to let the British military board ships of Russia’s so‑called “shadow fleet” has had no clear impact on the number passing through UK waters, a Reuters analysis shows. In the month after Starmer’s March 25 threat, at least 98 Russian vessels subject to UK sanctions transited its waters, about the same as each of the last three months.
Run with the money
** The announcement April 28 that the UAE was leaving OPEC caps years of tension where the desert state chafed under the cartel’s quotas, and recently, encountered severe strain in its relationship with Saudi Arabia, the group’s most potent force by far. Though it had felt strains before, it was the war in Iran that pushed the UAE over the edge. “
Russia to stay in OPEC
** Russia plans to stay in OPEC+ despite a decision by the United Arab Emirates to leave, the Kremlin said on Wednesday, expressing hope that the alliance of oil producers would continue to operate amid turmoil in the global energy market.
US Energy
** Nat-gas prices finished higher on Tuesday as the outlook for below-normal US spring temperatures could potentially boost nat-gas heating demand. The Commodity Weather Group said Tuesday that below-average temperatures are expected across most of the US through May 2.
** Policies to transition buildings off polluting fossil gas are holding up in federal courts across the U.S. That’s a big win for local governments looking to spur electrification, given that these types of regulations suffered a major setback just a few years ago.
** Air travelers might wonder about using private-market AI solutions when it comes to air traffic control. US Transportation Secretary Sean Duffy recently confirmed that the government is working on integrating AI software into the air traffic management system.
** Colorado advocates push back on pro-nuclear energy legislation that would create a state permitting czar, allow utilities to charge ratepayers for nuclear research, and encourage cities to host new reactors.