The Texas grid has repeatedly seen tight electricity supplies in the past year as extreme weather and surging power demand strain aging infrastructure.

Brent rrose 46 cents, or 0.6%, to $82.38 a barrel, WTI gained 47 cents, or 0.6%, to $78.03.

The DOE Budget requests $51 billion in discretionary budget authority for 2025, a $3.6 billion or 7.5 percent increase from the 2023 level.

The Turkish government has decided that Rosatom will build the country’s second NPP,

Nuclear fusion is the process by which two light nuclei combine to form a single heavier nucleus, releasing a large amount of energy.

The assessment showed that pressures on Australia’s financial system from a surge in climate-related disaster claims could lead to a “plausible worst-case scenario” whereby insurers and lenders pull out of highly-exposed communities.

Brent rose 15 cents to $83.11 a barrel, WTI rose 18 cents to $79.31 a barrel.

These voluntary cuts are calculated from the 2024 required production level as per the 35th OPEC Ministerial Meeting held on June 4, 2023, and are in addition to the voluntary cuts previously announced in April 2023 and later extended until the end of 2024.

These curbs on supply have helped prop up the price of crude for the past 18 months but left Saudi Arabia, which has cut its production by 2mn barrels a day, shouldering most of the cost.

Prime Minister Narendra Modi's government, which has cited energy security concerns and low per-capita emissions to defend India's coal dependence, has been trying to attract private investment to boost its coal-fired capacity by 80 GW by 2032

More than half of Brazil's power generation already comes from hydro plants, but it has been five years since the industry finished its last major dam - the controversial Belo Monte complex in the northern state of Para.

The deal will further facilitate Australia's exports of coal and liquefied natural gas to Vietnam, the ministry said in a statement, noting that Australia is now a key coal supplier to Vietnam, accounting for 44% of its total coal imports.

Brent fell 3 cents to $82.77 a barrel, WTI fell 11 cents, to $78.63.

Ample supplies have anchored international oil prices near $80 a barrel this year, even as conflict in the Middle East disrupts regional shipping.

The reality is that large-scale wind and solar power cannot exist without large-scale, long-term low-cost energy storage. There is no technology that can provide this.