Several LNG buyers have delayed signing new long-term contracts with US producers until there is more clarity

The US Administration's 2025 budget request includes nearly USD1.6 billion for the Department of Energy's Office of Nuclear Energy,

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

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

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

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.

But there has been no organized market for hydrogen. That is the mission of the new consortium. It will be funded initially by the DOE, which has allocated $8 billion for hydrogen and pledged about $1 billion each to the seven hubs — some get a little more and some a little less. The remaining funding is available to the consortium for market creation.

Google, long interested in clean energy and conservation, is spinning out its Google Nest Renew business and Sidewalk Infrastructure Partners (SIP) is combining it with OhmConnect to create a new company in which SIP will make an initial $100 million investment.

South Korea has 25 nuclear power reactors with a total capacity of 24.7 GWe at the end of 2023. According to the state-run utility Korea Hydro & Nuclear Power, in 2022, these plants generated nearly 30% of all electricity, up from 23% in 2018.

Brent fell 30 cents, or 0.36%, to $83.35 a barrel, WTI dropped 28 cents to $78.59 a barrel.