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Iran Not Seeking Any Toll, Insurance, or Charges From Ships Crossing Hormuz Strait, Trump Claims

US Diesel Prices Drop Below $5 for First Time Since March, Easing Inflationary Pressures

Diesel prices in the US fell below $5 per gallon for the first time since mid-March, as US-Iran peace talks continued to make progress, helping ease supply constraints.The national average retail price of diesel dropped to $4.98 a gallon on Wednesday, according to data compiled by the American Automobile Association.Diesel prices have retreated from their April peak of $5.69 per gallon but remain well above the $3.79 per gallon recorded on the eve of the U.S.-Iran war in late February, according to Bloomberg, suggesting a long way to go before fuel prices can normalize.This comes following a pullback in global crude oil prices in recent weeks, in response to de-escalating tensions in the Middle East, and rising traffic through the Strait of Hormuz, after a nearly four-month-long blockade.In a Truth Social post on Tuesday, US President Donald Trump accused the big oil companies of price gouging at the pump, for not reducing prices in line with the fall in global oil prices, while threatening action against the same.

Commodities49d ago

Market Chatter: Consolidated Edison Needs Grid Enhancement for Strong Heat Waves, CEO Says

US utility Consolidated Edison (ED) needs to upsize its grid equipment instead of executing a fundamental overhaul to endure longer and hotter heat waves, Chief Executive Tim Cawley told Reuters during a forum on Tuesday.Cawley reportedly said that grid efficiency can be improved at a lower cost by using rooftop solar, batteries, demand response, and grid data. He also supported build-out of large-scale renewable projects, according to the report.Consolidated Edison expects data center demand to increase by around 60 megawatts, much lower than the general expectations by other utilities, with load growth primarily driven by transport electrification and heating, the report said.has reached out to the company to seek further details about its expected demand growth in New York, where it mainly provides utility services.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$ED

Commodities49d ago

Adani to Invest $21 Billion in India, Targets 45 GW Capacity in Five Years

Indian conglomerate Adani Group will invest more than 2 trillion Indian rupees ($21.11 billion) through subsidiary Adani Power to increase its domestic generation capacity to 45 gigawatts in five years, Chairman Gautam Adani said on Wednesday.The group is targeting generation of 10 GW nuclear power through Adani Atomic Energy and has identified land for its entry into nuclear energy space, it announced at its AGM.Adani said it is collaborating with Bhutan's government owned-Druk Green Power Corporation for the development of 5,000 megawatts of hydropower projects in Bhutan."At Adani Total Gas, we accelerated and crossed the significant milestone of over 1.1 million piped natural gas home connections. Given the current geopolitical situation, we are further ramping up our PNG projects to meet India's rising demand for more accessible gas," Adani said.

Commodities49d ago

UK Climate Watchdog Warns Slow Electrification is Leading to Higher Household Energy Bills

Britain's Climate Change Committee has urged the government to accelerate its transition towards clean energy, warning that slow progress in electrification is leaving households exposed to rising energy costs, despite remarkable gains being made in renewable energy deployment and electric vehicle adoption.In its report published on Wednesday, the committee noted that electrification had slowed, with heat pump installations in existing homes up just 7% in 2025, compared to 56% a year ago.Even the share of electricity in industrial energy consumption declined slightly, it said, while noting that overall emissions had declined 1.8% in 2025, with record new renewable energy projects being contracted.The committee warned that the slower pace of electrification is increasing households' exposure to fossil fuel price volatility and could jeopardize future emissions targets unless the government adopts a more ambitious strategy.It further added that households could save as much as 1,200 British Pounds ($1,582) annually by combining the use of EVs, heat pumps, solar panels, "and a time-of-use tariff," where power costs vary based on the time of day, rising to 1,900 pounds for rural households."The transition to clean electricity is not happening fast enough," CCC Chair Nigel Topping said. "Government support to accelerate the shift to electric vehicles and heat pumps is critical, not only to keep our climate targets within reach but to unlock savings."

Commodities49d ago

US Supreme Court Ruling Helps Exxon Mobil Compensation Fight Over Assets Seized by Cuba

A US Supreme Court ruling on Tuesday will make simpler for US companies whose assets were expropriated by the Cuban government to sue it for compensation, Reuters reported.In a 6-3 vote, the apex court decided that the Foreign Sovereign Immunities Act does not apply to the $1 billion litigation brought by Exxon Mobil (XOM) against Cuba's state-owned Corporacion Cimex under the Helms-Burton Act.The court reversed a judgement on the same case by the US Court of Appeals for the DC Circuit in 2024 that required Exxon to prove its lawsuit fell within one of Foreign Sovereign Immunities Act exceptions.Exxon alleges Cimex is unlawfully using "refinery, terminals, plants, and service station" that belonged to Exxon predecessor Standard Oil, before they were seized after the island's Communist Revolution.has contacted Exxon Mobil seeking further comment.

Commodities49d ago

Market Chatter: Qatar to Resume LNG Production in 'Few Weeks'

Qatar will resume liquefied natural gas production "within a few weeks," except for the damaged facility, parallel to the expected resumption of shipping through the Strait of Hormuz following the US-Iran deal, Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani told the Financial Times.QatarEnergy, however, would not immediately lift force majeure unless all issues are addressed and operations are declared safe, the report said. A drone attack on the Ras Laffan LNG plant prompted the company to suspend production and declare force majeure to clients on March 4.Shipping traffic may return to pre-war levels a month after the deal, the prime minister told the FT, but confidence to transit may take time to recover, and shortages of commodities, such as fertilizers, urea, petrochemicals, and helium, may still be felt in the coming months.QatarEnergy did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Commodities49d ago

European Power Utilities Boost Focus on Transmission Investment, Storage in H1: WoodMac

European utilities have increased focus on transmission and network expansion, Wood Mackenzie said on Tuesday in a review of H1 2026, with most of the 9% increase in capital investment among the largest firms, dedicated to this.The researcher expects this trend to persist for the full year, with the capital expenditure reflecting regulatory support for investment in networks in several places as well as growing opportunities in energy storage.WoodMac notes a retreat in low-carbon technology spending among oil and gas majors, with BP (BP) having made a highly-publicized strategic shift focused more squarely on fossil fuels.With the British company's offshore wind assets housed in the Jera Nex BP joint venture and Lightsource currently undergoing a strategic view, it is feasible that the company could exit renewables entirely by the end of the year, the report said.Equinor (EQNR) and Shell (SHEL) have also been observed cutting back their commitments to low-carbon energy, favoring investments in upstream oil, Wood Mackenzie said.Regarding TotalEnergies (TTE), Eni (E) and Repsol, the report notes that each has reduced their investment budget but maintained their strategic path overall.Another trend is the prominence of investments in flexible generation and energy storage, with the most notable move that of TotalEnergies's 50% acquisition of an EPH-owned portfolio in November for 5.1 billion euros ($5.8 billion), paid in stocks.Elsewhere Enel has increased its battery energy storage targets while RWE is planning more gas capacity in Germany and preparing for more gas-fired power generation growth in the US.Expectations have grown that thermal generation will retain a larger share for longer in the power mix, especially in the US, to maintain supply flexibility.Renewables remain at the core of investment plans for most power utilities, with resilience seen in onshore wind and solar despite regulatory uncertainty and grid bottlenecks that make the power harder to deliver.Other constraints include a saturated supply chain, higher interest rates and a trend of increased curtailment.RWE is notably expected to overtake Denmark's Orsted as the global leader in offshore wind, after it clinched large contracts in the UK's AR7 auction, giving it an estimated 12 gigawatt pipeline of projects versus its Danish rival's 10 GW.

$BP$E$EQNR$SHEL$TTE

Commodities49d ago

NWS Warns of Severe Weather, Floods in Central US; Dangerous Heat in Southern, Western US

The US National Weather Service on Wednesday said parts of central US are expected to experience multiple rounds of thunderstorms, with risks of persistent severe weather and flooding threats over the next two days.Dangerous heat is forecast in southern and western US through mid-week, while fire weather concerns are likely in the Intermountain West due to hot and dry conditions and dry thunderstorms, the agency said.The NWS early Wednesday issued a red flag warning for Colorado's Leadville, Buena Vista, Saguache, Salida, Alamosa, San Luis, and Fairplay. A severe thunder storm warning was raised for Limon, Colorado Springs, and areas near Trinidad, La Junta, and Pueblo. Pueblo and Colorado Springs were also placed under a flash flood warning watch, along with areas near La Veta Pass and Trinidad. Trinidad was also listed under a tornado warning alert.Xcel Energy (XEL) and Black Hills (BKH) unit Black Hills Energy are the primary electricity service providers in Colorado.In California, a red flag warning was raised for Baker, Barstow, Victorville, Twenty-Nine Palms, and areas near Wrighthood and Big Bear Lake, while an extreme heat warning was issued for Borrego Springs, Julian, Mount Laguna, Blythe and El Centro Imperial. These places are primarily served by Edison International's (EIX) Southern California Edison and Sempra Energy (SRE) unit San Diego Gas & Electric.An extreme heat warning was issued for Arizona's Parker, Yuma, Phoenix, Globe, Tucson, Nogales, San Carlos, Safford, Oracle, Oro Valley, Benson, Green Valley, Sierra Vista, Bisbee, and Wickenburg. Pinnacle West Capital (PNW) unit Arizona Public Service Company, and UNS Energy subsidiaries Unisource and Tucson Electric Power are the major electric utility providers in Arizona.The NWS issued a flood warning for Louisiana's Lake Charles, Jennings, Oberlin, Glenmora, Markleeville, Ville Platte, Opelousas, and areas bordering Mississippi and Arkansas. Entergy's (ETR) Louisiana unit, American Electric Power's (AEP) Southwestern Electric Power Company, and Cleco are among the major service providers in Louisiana.In Texas, a similar warning was raised for George West, Beaumont, Bryan, and Lufkin. These places are majorly served by the Texas units of American Electric Power and Entergy, and Centrepoint Energy (CNP).Affected areas in Illinois include Olney, Champaign, Decatur, Peru, Peoria, Pekin, Havana, Canton, Macomb, Jacksonville, Ottawa, and areas bordering Indiana and Missouri. Ameren's (AEE) Illinois unit and Exelon (EXC) subsidiary ComEd are among the major service providers in Illinois.Mississippi's Hattiesburg, Gulfport, Vicksburg, Brookhaven, Jackson, and areas near Meridian, primarily served by Southern Company (SO) unit Mississippi Power, were also placed under a flood warning watch.The NWS also issued flood warnings for Pensacola and DeFuniak Springs in Florida, where NextEra Energy (NEE) unit Florida Power & Light Company is the primary service provider; and Demopolis and Monroeville in Alabama, primarily served by Southern Company unit Alabama Power.Flood warnings were also issued for parts of Washington, Indiana, Arkansas, Kansas, Nebraska, Iowa, and Oklahoma.

$AEE$AEP$BKH$CNP$EIX$ETR$EXC$NEE$PNW$SO$SRE$XEL

Commodities49d ago

Asia Biofuels Update: Palm Oil Dips on Weaker Crude Oil, Soybean Oil

Malaysian palm oil futures slipped further on Wednesday, tracking losses in crude oil and rival soybean oil, despite strong exports, the prospect that unfavorable weather could limit supply and the start of Indonesia's B50 biodiesel mandate next week.The Bursa Malaysia Derivatives' July crude palm oil contract fell 0.24% to 4,589 Malaysian ringgit ($1,105.52) per metric ton. The August crude palm oil contract dipped 0.17% to 4,620 ringgit/mt.Prices declined despite a reported 19.1% to 25% month-over-month increase in Malaysian shipments for the first 20 days of June, as per the latest cargo estimates.A strengthening local currency dampened competitiveness of exports, making cargoes more expensive for foreign buyers. The Malaysian ringgit firmed by a further 0.04% against the US dollar on Wednesday.Malaysia's export market, nonetheless, may find support from Indonesia's expanding biodiesel policy, which will curb exportable supplies.The Indonesian government is set to raise its palm-based biodiesel blending to 50% from 40%, to reduce reliance on imported fuel. The energy ministry, as cited by multiple media outlets, expects to save 157.28 trillion Indonesian rupiah ($8.76 billion) in foreign exchange this year due to lower fuel imports.In Malaysia, the government is planning to increase its biodiesel mandate to 30% by 2030, following a shift to 15% from 10% this month, multiple media outlets reported, citing the Ministry of Plantation and Commodities.The ministry reportedly does not expect B30 to affect Malaysia's exportable volumes, given that the higher blending ratio will just consume about 1.6 million metric tons per year of palm oil, or 7% of the country's total supply.Malaysia's palm oil industry is export-driven, with around 15.3 mmt allocated to export markets, out of the total 22.8 mmt of domestic production, stocks, and imports, according to the ministry.

Commodities49d ago

Dorian LPG Orders Very Large Gas Carrier From HD Hyundai

Dorian LPG (LPG) has struck a deal with HD Hyundai under which the latter will build one 90,000 cbm very large gas carrier for about $115 million, with a July 2029 delivery date, Dorian said on Tuesday.The vessel will be a dual-fuel Panamax VLGC capable of passing through the "old" Panama Canal locks and it will feature a shaft generator that boosts efficiency and cuts emissions.The company has also signed memorandums of agreement to sell three other VLGCs, the Corsair built in 2014 and two other vessels built in 2015, for a total of $256 million.Dorian will deliver the vessels to the buyers in Q4, but stressed that there was no guarantee the sales would be completed by then or that they were certain to go ahead.The company said that in Q2, it estimates that it fixed 99% of calendar days at rates in excess of $68,000 and for the month of July, it estimates 34% of days will be fixed at a rate above $100,000 per day.This may refer to the leasing of ships, but it did not explain further.Dorian has a total fleet of 27 VLGCs, it said.

$LPG

Commodities49d ago

US Natural Gas Update: Futures Fall as Cooler Forecasts Offset LNG Demand Recovery

US natural gas futures remained under pressure on Tuesday as cooler weather forecasts and expectations of softer power-sector demand offset support from a recovery in LNG consumption.The front-month Henry Hub contract and the continuous contract both declined by 2.89% to $3.16 per million British thermal units.Geopolitical risk premiums continued to fade after the US moved to ease sanctions on Iran, while President Donald Trump said the Strait of Hormuz would remain open to shipping, easing concerns about potential disruptions to global energy flows.Commodity Weather Group forecasts now show below-average temperatures across parts of the Mid-Atlantic region from June 23-27, reducing expected cooling demand and weighing on natural gas prices.Aegis Hedging said Boardwalk Pipeline's 1.16 billion cubic feet per day Kosci Junction project could enter service ahead of schedule, connecting new gas supplies to Southeast demand centers.The firm also noted planned maintenance on pipelines serving Sabine Pass, Corpus Christi and Golden Pass LNG facilities in late June and July.NRG Energy said demand has risen into the low 100 Bcf/d range amid warmer temperatures, while production remains above demand, narrowing the market's supply surplus.Gas flows to LNG export terminals slipped to an estimated 19.1 billion cubic feet per day on Tuesday, down 1.4% from the prior week, leaving more supply available to the domestic market, according to BNEF.BNEF noted Lower 48 dry gas production was estimated at 111.5 Bcf/d on Tuesday, up 3% from a year earlier, while total gas demand was projected at 72.8 Bcf/d, down 10.1% year over year.Global gas prices remained supported after an explosion at Qatar's Ras Laffan industrial complex on Monday raised uncertainty over the restart of Persian Gulf gas production, while stronger Asian LNG demand increased competition for spot cargoes, according to Daniel Hynes, senior commodity strategist at ANZ Bank.

Commodities49d ago

California Threatens Lawsuit Over Trump Administration Offshore Wind Buyout Deal

California moved to challenge a federal offshore wind buyout agreement that redirects $120 million and could delay the state's clean-energy plans, officials said Tuesday.Attorney General Rob Bonta and California Energy Commission Chair David Hochschild sent a Notice of Intent to Sue the US Department of the Interior and Golden State Wind, arguing that a lease-termination deal unlawfully threatens offshore wind development in California.Under the agreement, the Interior Department would pay Golden State Wind $120 million to surrender its offshore wind lease off California's Central Coast and require the company to invest an equivalent amount in out-of-state fossil-fuel projects, according to California officials.The state alleges the agreement violates the Outer Continental Shelf Lands Act by bypassing protections that give California a role in offshore wind leasing decisions. The notice gives the parties 60 days to address the alleged violations before litigation begins.Bonta said the Trump Administration is using taxpayer money to eliminate clean-energy projects, while California intends to defend investments that support jobs, economic growth, and renewable energy development.California's offshore wind strategy targets 25 gigawatts of capacity by 2045, enough to supply electricity to roughly 25 million homes and provide about 13% of the state's power needs, officials said.Golden State Wind paid $120 million in a competitive 2022 auction for rights to develop a 2-gigawatt project in the Morro Bay Wind Energy Area and committed more than $30 million for workforce training, supply-chain development, and community programs, according to the state.The Interior Department announced on April 27, 2026, that it would cancel the lease under a settlement agreement tied to litigation that California says Golden State Wind never filed and that federal agencies never faced.California said it has invested more than $100 million in ports, transmission planning, and related infrastructure to support offshore wind development and warned that those investments, along with union jobs and economic benefits, could be jeopardized if projects are abandoned.Separately, the California Energy Commission issued investigative subpoenas to Golden State Wind in May and to Invenergy on June 23. According to the Interior Department, Invenergy agreed to relinquish four offshore wind leases, including a 2-gigawatt Morro Bay project, in exchange for a $765 million federal payment and a matching investment in US natural gas and geothermal projects.California said offshore wind buyouts approved by the Trump Administration now total nearly $2.6 billion nationwide and pledged to review investigative findings to protect public investments and the state's clean-energy objectives.

Commodities49d ago

US Crude Inventories Fall for 10th Straight Week, API Says

Data from the American Petroleum Institute revealed Tuesday that US crude oil inventories dropped by 765,000 barrels in the week ended June 19, following an 8.33-million-barrel draw the previous week, according to a Bloomberg-compiled survey.The oil market now awaits the US Energy Information Administration's petroleum inventory report, scheduled for release on Wednesday.

Commodities49d ago

Russia Reportedly Weighs Full Diesel Export Ban as Fuel Market Pressures Mount

Russia is considering a full diesel export ban as refinery disruptions, fuel shortages and rising prices strain the domestic market, Deputy Prime Minister Alexander Novak said Tuesday, according to multiple media reports.Speaking at a government meeting chaired by President Vladimir Putin, Novak said authorities are evaluating a complete prohibition on diesel exports and other measures to strengthen fuel supplies within Russia.Russia already prohibits gasoline and jet fuel exports for all market participants, while only producers can export diesel and marine fuels, meaning a full diesel ban would significantly reduce product availability on international markets.Authorities are also considering fuel imports, subsidies for imported products and tax-law changes to cap domestic prices and limit inflation, according to Russian newspaper Vedomosti.Repeated Ukrainian drone strikes have interrupted operations at Russian refineries and damaged parts of the country's energy infrastructure, increasing pressure on fuel production and distribution networks.Putin said recent attacks on civilian infrastructure, including Moscow's refinery, were designed to destabilize society and instructed the government to take additional steps to mitigate their impact.The Ministry of Energy of the Russian Federation did not immediately respond to' request for comment.

Commodities49d ago

State Momentum Grows for Biofuel Market Development in 2026, Clean Fuels Alliance America Says

Clean Fuels Alliance America said on Tuesday that more states are prioritizing the development of markets for biodiesel, renewable diesel, and sustainable aviation fuel.From low-carbon fuel programs to tax incentives and market development policies, state activity continues to accelerate, the group stated.This year, Clean Fuels Alliance America was actively engaged in 23 states where legislation or regulatory action for biomass-based diesel was under consideration.Hawaii became the fifth state to adopt low-carbon fuel legislation. Its governor is expected to sign the measure into law.Also, this year, New Mexico became the first state outside the West Coast to officially implement a Clean Transportation Fuel Program.In the Midwest, where biodiesel production and feedstock agriculture play a critical role in local economies, Missouri extended its biodiesel tax credits through 2033, providing long-term certainty for producers and fuel marketers.The state of Illinois is considered an emerging location for a Midwest Low Carbon Fuel Standard, while conversations around biodiesel production, market expansion, and infrastructure development continue advancing in Ohio, Indiana, Michigan, and Kansas, according to the Clean Fuels Alliance.Meanwhile, Kentucky recently became the fourth state to adopt incentives to support SAF production, creating additional demand opportunities for agricultural feedstocks and helping position the state as a leader in the emerging aviation fuels market.In the Northeast, New York, Pennsylvania, and Massachusetts are actively exploring policies that could expand market access and create new opportunities for low-carbon liquid fuels.

Commodities50d ago

US Biofuels Update: Favorable Seasonal Crop Weather Caps Gains for Soybean Futures

Biofuels feedstock futures closed mixed on Tuesday, as the soybean market moved higher on sales to China.The Chicago Board of Trade July soybean futures contract closed 0.11 higher at $11.17 per bushel, and the CBOT July soybean oil futures contract settled 0.79% lower at 70.59 cents per pound.The Nymex July ethanol futures contract settled 1.61% lower on Monday at $1.83 per gallon.Rhett Montgomery, a DTN analyst, said the traders remain focused on each updated weather forecast for US crops in June and July."Looking ahead for US weather, temperatures are forecasted to trend above average towards the end of June and beginning of July, while precipitation across the Corn Belt may become at least temporarily sparser. Rainfall through May and June has left much of the Belt in good shape in terms of soil moisture," Montgomery said in a daily note.On Monday, the US Department of Agriculture reported that 97% of the US corn crop has emerged and that 68% is rated in good or excellent, or G/E, condition nationwide.The 10-year average for US corn G/E ratings over the June through September period is roughly 65% for comparison, while the average over the past decade for this week in June is 67%.Montgomery noted that the US Department of Agriculture reported on Monday that 93% of the US soybean crop had emerged nationwide by the start of the week, continuing to outpace the seasonal average for mid-June.Crop conditions remained stable, with 66% of the soybean crop rated good to excellent, the analyst said.

Commodities50d ago

US Unveils $17.5 Billion in Conditional Loans to Bolster Nuclear Supply Chain

The US Department of Energy said on Tuesday it had unveiled a $17.5 billion conditional loan program to revitalize the American nuclear supply chain and accelerate the construction of 10 large-scale reactors.The financing, issued through the DOE's Office of Energy Dominance Financing, targets the procurement of "long-lead time" components, the complex equipment that often dictates the pace of nuclear construction.The department expects the initiative to cut the deployment timeline for 10 new reactors by up to three years.These conditional loans "will play an important role in reviving the supply chain needed for America to once again build large-scale commercial reactors," Chris Wright, the US Energy Secretary, said in a statement.Under the financing structure, each of the five loans would support two reactors at a project site.The DOE said each project will require $1 billion in upfront equity, $500 million each from Westinghouse and its utility or energy partner, before accessing the department's funding.Westinghouse will supply its AP1000 reactor units, which are currently the only large-scale, advanced commercial reactors licensed to operate in the US. Each reactor is rated at about 1.1 gigawatts.The department said the bulk-purchasing structure for long-lead components is intended to lock in supply contracts, improve manufacturing efficiency, and reduce costs across the nuclear supply chain.Combined, the DOE said the 10 reactors would generate about 11 gigawatts of electricity, enough to power nearly 10 million US homes.

Commodities50d ago

Constellation, Walmart Sign Nuclear Power Deal Covering 176 MW in Illinois

Walmart's (WMT) first nuclear power purchase agreement will secure 176 megawatts of emissions-free electricity from Constellation's (CEG) Dresden Clean Energy Center in Illinois, the companies announced Tuesday.Beginning in 2029 and 2030, Walmart will source electricity, capacity and environmental attributes under two separate 15-year agreements, providing long-term demand support for Dresden's nuclear generation.Through planned uprates at Dresden, Constellation will add 30 MW of generating capacity by boosting output from existing reactors rather than building new generation assets, the companies said.The additional electricity will help power Walmart's planned perishable distribution center in Belvidere, Illinois, while supporting local employment and the retailer's ongoing supply chain expansion.Walmart entered its first nuclear power purchase agreement through the deal, one of the first such arrangements between a major US retailer and a US nuclear energy facility, according to the announcement.After renewing Dresden's operating licenses in December 2025, Constellation can run the facility through 2049 and 2051, allowing the plant to continue supplying carbon-free baseload power and supporting more than 1,100 jobs, the companies added.While Constellation's generation fleet produces enough electricity to serve over eight million homes, Walmart maintains a significant Illinois footprint with about 175 stores and clubs and over 55,000 associates."We're constantly evaluating new capabilities and energy solutions that help ensure the electricity we rely on is dependable, responsibly produced, and built to support long-term growth," said Shayne Wahlmeier, senior vice president of energy for Walmart US.Price: $119.81, Change: $+2.63, Percent Change: +2.24%

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Commodities50d ago

Electrification Could Boost Southeast Asia's Energy Security, IEA Says

Southeast Asia can reduce its growing dependence on imported fossil fuels and strengthen energy security by accelerating electrification across transport, industry and buildings, International Energy Agency strategists said in a Tuesday note.IEA analysts said energy consumption in Southeast Asia has climbed about 40% since 2015, with electricity demand expanding at about twice the pace of overall energy use.However, the Paris-based agency said that despite a rapid increase in renewable energy deployment, fossil fuels have accounted for over 70% of demand growth over the past decade. Crude oil still accounts for almost half of total energy consumption.The latest Middle East conflict has highlighted Southeast Asia's vulnerability to disruptions.IEA said before the conflict, about 60% of Southeast Asia's crude oil imports and one-third of its natural gas imports originated from the Middle East.Under current policies, oil imports are projected to meet about 80% of demand by 2035, while the region is forecast to become dependent on imports for about one-third of its gas requirements.The wider adoption of electric vehicles, heat pumps and electric motors across the region could curb fuel consumption and shift energy demand toward domestically produced electricity, improving resilience and reducing emissions."Electrification can be a critical pillar of strategies to meet the region's rising energy demand while mitigating these energy security risks," the IEA said.Electricity accounts for 23% of final energy consumption in Southeast Asia, above the global average. The agency said the share has reached about 30% in countries such as Vietnam and Brunei, compared with less than 20% in the mid-2000s.Electric mobility is emerging as one of the fastest-growing segments. Electric vehicle sales more than doubled in 2025, accounting for about 20% of total car sales across Southeast Asia and surpassing levels seen in several advanced economies.EV penetration reached 41% in Vietnam, 40% in Singapore, and 23% in Thailand, supported by tax incentives and growing domestic manufacturing, IEA said.The agency identified industry as the largest energy consumer, accounting for around 45% of final demand.About 35% of industrial energy use is devoted to low-temperature heat, which could be electrified using commercially available technologies.However, high capital costs, inadequate grid infrastructure and limited financing continue to slow progress.IEA said electricity's share of final energy consumption is expected to rise only gradually to 27% by 2035 and 33% by 2050 under existing policies.Electricity would account for nearly half of energy consumption by mid-century in a more ambitious scenario, while fuel imports in 2035 would be about one-third lower than under current trajectories.The reduction in oil demand due to the adoption of electric vehicles and biofuels would be equivalent to the region's entire current oil import volume by 2050.IEA said stronger policies, improved financing mechanisms and closer regional coordination through initiatives such as the ASEAN Power Grid and the ASEAN Plan of Action for Energy Cooperation could help accelerate the transition and support long-term economic growth.

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Commodities49d ago

NWS Warns of Severe Weather, Floods in Central US; Dangerous Heat in Southern, Western US

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