Solar is now so cheap that large markets can emerge in the space of a single year – as evidenced in Pakistan in 2024.

Brent rose 25 cents, or 0.4%, to $64.34 a barrel, WTI gained 24 cents, or 0.4%, at $61.13 a barrel.

Brent slipped to $64.58 a barrel, WTI dropped 32 cents, or 0.5%, to $61.25.

Since 2019 China’s energy system seems to be undergoing significant shifts.

Brent fell 39 cents, or 0.6%, to $66.24 a barrel, WTI slipped 36 cents, or 0.6%, to $63.31.

Governments worldwide are recognising the economic and strategic benefits of controlling supply chains for low-carbon technologies. Specifically, China’s dominance in solar PV module production (almost 85% of global production as of 2023) (Statista, 2024a) and battery manufacturing (79% of global EV Li-ion batteries as of 2021) (Statista, 2024b) has spurred rival policies.

Then the ACCC weighed in again in late March, warning, ‘the east coast outlook for Quarter 3 2025 has worsened. The market will need access to LNG producers’ uncontracted gas to mitigate the risk of shortfall’.

Rising domestic demand, hot summers and rapidly deteriorating local production mean Egypt needs to buy increasing volumes of LNG.

Brent dropped 22 cents, or 0.3%, to $64.74 per barrel, WTI fell 18 cents, or 0.3%, to $61.77.

According to CCI data, the largest monthly increase in April was shown by shipments through the port of Kozmino +17.79%, 139 thousand tons per day.

Russia currently delivers gas to China via the Power of Siberia 1 pipeline, which is part of a US$400 billion, 30-year agreement between Gazprom and China’s CNPC which was signed in 2014.

Brent gained 43 cents to $66.98 a barrel, WTI rose 42 cents to $63.21 a barrel.

India’s imports of Russian crude are on track to hit 2.15 million barrels a day in April, the biggest monthly volume since May 2023, according to data from Kpler. Shipments have climbed since tumbling to a 14-month low in February.

The ministry envisages in its baseline scenario of economic forecasts for 2025 that the average price for Brent will be at $68 per barrel, down from the $81.7 per barrel it assumed in its September forecasts,

Renewable hydrogen is also part of a broader plan and series of directives aiming at increasing the share of renewable energies in EU’s energy consumption.