Brent rose $1.16, or 1.3%, to $89.09 a barrel. WTI climbed $1.08, also 1.3%, to $84.29 a barrel.

Prince Abdulaziz said that the energy transition will require hydrocarbons including petrochemicals.

Partnering entities, including more than 900 businesses, state and local governments, utilities, housing authorities, and other public and private organizations, to date have collectively saved $18.5 billion through efficiency improvements and cut harmful carbon dioxide emissions by nearly 190 million metric tons— an amount roughly equivalent to combined annual emissions of 24 million homes.

The EU’s 27 members are divided. Central and eastern European countries that have their own nuclear expansion ambitions are supporting France while non-nuclear powers including Belgium, Denmark, Luxembourg, Austria, are backing Germany.

The board of directors of Orano has approved an investment of some EUR1.7 billion (USD1.8 billion) to raise the production capacity of the Georges Besse II (GB-II) uranium enrichment plant at the Tricastin site in southern France by more than 30%.

To reduce CO2 emissions, world leaders call for heavy industry to switch from natural gas and coal to hydrogen fuel. When hydrogen burns, the only combustion product is water vapor.

This month, the California Public Utilities Commission announced $200 million for utilities to invest in multi-customer microgrids.

The definition of a Smart City is “a municipality that uses information and communication technologies to increase operational efficiency, share information and improve both the quality of government services and citizen welfare.”

Brent crude futures climbed 94 cents, or 1%, to $93.32 a barrel by 0307 GMT. U.S. West Texas Intermediate crude was at $90.78 a barrel, up $1.41, or 1.6%.

Still, the trade has become a headache for Germany, which has explicitly said it won’t use gas from Russia in the fallout of the war in Ukraine. Berlin is facing sharp criticism over concerns that a government-run company still has ties to Moscow, despite its political rhetoric.

Oil has become the gift that keeps on giving. Aggressive long liquidation leaves the markets exposed to a strong geopolitical bid as it has a direct effect on oil production and transportation in the Middle East.

The U.S. Department of Energy (DOE) announced $7 billion to launch seven Regional Clean Hydrogen Hubs (H2Hubs) across the nation and accelerate the commercial-scale deployment of low-cost, clean hydrogen—a valuable energy product that can be produced with zero or near-zero carbon emissions and is crucial to meeting the President’s climate and energy security goals.

Today announced $3.46 billion for 58 projects across 44 states to strengthen electric grid resilience and reliability across America.

Brent rose 50 cents, or 0.6%, to $86.50 per barrel, WTI gained 64 cents, or 0.8%, to $83.55 a barrel.

The Brent spot price increasing to average $95 per barrel (b) in 2024.