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.

Besides climate change, amid today’s geopolitical challenges, countries increasingly recognize that nuclear energy is a key contributor to the security of energy supply.

Economy Minister Bruno Le Maire faced a difficult decision between maintaining France as an attractive investment destination and maintaining sovereignty over strategic technology, but finally decided to veto the takeover.

Brent were up 36 cents, or 0.4%, at $84.43. WTI were up 42 cents, or 0.5%, at $82.73.

The committee reaffirmed the commitment of its member countries to the DoC which extends to the end of 2024 as agreed in the 35th OPEC and non-OPEC Ministerial Meeting (ONOMM) on 4th of June 2023.

"Building on the collaboration in April in Sapporo, Japan, during the G7 Climate, Energy and Environment Ministers meeting and Business Forum, we stand ready to work together with policymakers to rebuild leadership in nuclear energy within OECD countries and to cooperate with other like-minded nations as they seek to meet their climate and energy security goals."

Puri has long called for OPEC and its allies led by Russia, known as OPEC+, to consider how their policies affect oil-consuming countries.

DOE expects these standards to cumulatively save consumers $24.8 billion on their energy bills over 30 years and cut harmful carbon and methane emissions that fuel the climate crisis.

The Electric Reliability Council of Texas estimates that there is an almost 20% probability that the state grid will enter into an energy emergency alert, or EEA, if there is a repeat of last year’s December storm. Procuring 3,000 megawatts will cut that probability to less than 10%.

Over the past 15 years, the UAE has invested over US$40 billion in clean energy projects, Al Mazrouei went on to say, adding that this figure is likely to range between $150-200 billion through 2030 to ensure that the UAE's energy demand is met and maintain the sustainable growth of the country's economy.