Given that a lot of European companies were opting out of paying for Russian gas in rubles, they would have to scout for additional spot cargoes while Asia demand was strong, he said, adding that prices were likely to stay supported above $20/MMBtu in the near term.

In March alone, wind (1,418-MW) and solar (240-MW) accounted for 100% of the new capacity brought on-line for the month.

Australia needs to focus on increasing power generation from its existing coal fleet to protect customers from price increases as the nation grapples with an energy squeeze

Brent firmed 32 cents, or 0.3%, to $120.04 a barrel, WTI were up 40 cents, or 0.3%, at $119.27 a barrel.

Representatives from several European countries, including Romania, Serbia, Hungary and Italy travelled to Azerbaijan to discuss growing demand for gas in early June, in light of recent Gazprom cut offs and the threat that further sanctions could hit gas imports.

Australia has more household solar per person than any other country. With the parallel growth of behind-the-meter (BTM) batteries, companies are seizing the opportunity to create Virtual Power Plants (VPPs)

Construction begins at largest wind farm in Australia

Total nonfarm payroll employment rose by 390,000 in May, and the unemployment rate remained at 3.6 percent, the U.S. Bureau of Labor Statistics reported

The Worldwide Rig Count for May was 1,628, up 25 from the 1,603 counted in April 2022,and up 366 from the 1,262 counted in May 2021.

U.S. Rig Count is is down 0 from last week to 727, Canada Rig Count is up 14 from last week to 117.