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Canada
Police say that 2 people were killed and 5 injured in an active shooter incident in Toronto.
According to an emergency alert posted by the Toronto police on X,?five people were injured and two were declared dead?after an active shooter incident?incident?in Toronto?on Saturday. Five people were found injured with gunshots, according to the police. Two victims were declared?dead on the spot. It was not immediately clear what the condition of?the other victims' were. CTV News reports that the shooting took place?in Midtown Toronto, during a Latin festival called 'Salsa on St. Clair. Police urged people to avoid the area, and to follow the police's instructions as they continue their investigation. A 'Toronto Police spokesperson refused to 'provide
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Fossil Fuels
Iran media reports that the fire at a western Iranian mini refinery has been contained.
The semi-official YJC Iranian news agency, citing a local source, reported that a fire which broke out on Friday?at 'the Oxin Palayesh'mini-refinery' in Iran's western Lorestan Province has been put out. YJC quoted the safety manager at Lorestan Industrial Estates Company as saying that the fire was contained to a 'barrel of waste oil' and 'didn’t spread to refinery facilities or storing tanks. Iranian state media reported earlier that a fire had broken out just after 5 pm local time, sending a thick smoke column over Poldokhtar. Firefighters initially struggled to contain the blaze due to its 'intensity' and presence
Natural Gas
Natural Gas Utilities
AfD leader vows restore German-Russian relations as she seeks chancellery
Alice Weidel of the far right Alternative for Germany said that Germany should stop a boycott against Russian oil and gas to boost its flagging economy. She was describing the party's ambitions to form a national coalition. Weidel claimed that the AfD could win two important federal state elections within the next few months. He described them as a milestone towards securing the position of German chancellor at the next national election due in 2029. The success of Made in Germany was due to the cheap energy that Russia provided. Weidel stated that we need to get it back. "The...
Crude Oil
Cambodians are now more motivated than ever to tap into $300 billion of energy resources, due to the global fuel crisis
Cambodia's energy minister stated on Wednesday that the oil shock caused by the conflict in Iran has prompted Cambodia to resolve its maritime dispute with Thailand and unlock underwater energy resources worth $300 Billion. The grip of Iran on the Strait of?Hormuz - the conduit for a fifth of global oil supplies - has made the conflict in the region the worst ever global energy crisis. In an interview, the Minister of Mines and Energy Keorottanak said that Cambodia relies on renewable energy, including hydropower and solar power, to help it weather this current crisis. However, its hopes for industrialisation...
Power Markets
EIA: US power consumption will surpass previous records in 2026 and '27, as AI usage surges.
The Energy Information Administration's Short-Term Energy Outlook released on Tuesday predicted that U.S. electricity consumption would continue to rise in 2026 & 2027. The EIA projects that the power demand in 2027 will increase from 4,195 billion Kilowatt-hours in 2025, to 4,248 in 2026, and 4,379 in 2027. The demand for electricity is increasing as more homes and businesses are using less fossil fuels to heat and transport their vehicles and use more electricity. The agency stated that the increase in electricity demand is being led by the commercial sector. This is expected to surpass residential demand for the first...
Natural Gas
Venture Global signs new LNG Supply Deals with TotalEnergies and Vitol
Venture Global announced on Tuesday that it had signed new LNG supply contracts with TotalEnergies, and trading house Vitol for combined sales of over 1 million metric tonnes per annum (mtpa), over the next five-year period. Mike Sabel, the CEO of Venture Global, said on a Tuesday earnings call that the company charges customers more than twice the price of long-term LNG for the five-year contracts. This reduces the risk profile. Sabel said, "It gives us the opportunity to blend out...the risks with much higher prices than 20-year contracts. We can double our long-term contracts." These deals bring the total...
Coal
The US coal industry is given a reprieve by the US government, but this will not last long: Jenarthan & Jain
Coal has been given an unlikely reprieve by the combination of U.S. support and the Iran War. Don't call this a comeback. In the first weeks of Tehran’s war against the U.S., and Israel, the global seaborne thermal prices of coal rose by over 25%. Prices rose to the highest level since late-2024, adding new momentum to a 'unexpected' rebound. This price rise reflects short-term market conditions, not a structural improvement in the?coal economy, as is evident by the fact that prices are only 15% higher than pre-war levels. These recent steps come after coal achieved several positive milestones in...
Natural Gas
Taiwan has received assurances from a'major country' about LNG supplies
Taiwan's economy minister announced on Saturday that the energy minister of a "major country" producing liquefied gas had given Taiwan assurances about supply. He was speaking in relation to the?impact of the Iran War on Middle East energy imports. Taiwan, which is a major producer of semiconductors, relied on Qatar to supply around a third its LNG prior to the conflict. It has now said that it has secured alternative supplies from countries such as Australia and the United States for the months ahead. Kung Ming Hsin, Taiwan's Economy Minister, told reporters in Taipei that Taiwan enjoys good relations with...
Natural Gas
Data centers forced to become more flexible by the US grid
In times of high demand for electricity, the U.S. tech industry is being pressured to reduce its power consumption. This comes amid growing public concerns that Big Tech's massive energy needs in expanding data centers will'max out' the country's electrical grid. When utilities and grid operators ask for it, the power industry and its regulators are increasingly pushing tech companies to make a concession that was previously unthinkable - they're asking them to?scale?back their energy consumption in giant server farms called data centers. The majority of the attempts to make data centres more flexible are in pilot mode. Data centers...
Power Markets
JERA's exec claims that there is no immediate shortage of LNG in Japan, but they are currently in negotiations for additional supply.
JERA, Japan’s largest power generator, is not facing a shortage of liquefied gas, despite the U.S. and Israel’s war against?Iran. However, JERA is in talks with long-term suppliers about possible additional supplies, according to a senior executive on Saturday. Global CEO Yukio KANI said that Japan's biggest LNG buyer, Global, handles around 35 million metric tonnes of super-chilled gas annually. Around 27 million tons of this fuel are used in Japan, with about 5% passing through the Strait of Hormuz. Iran has disrupted the shipping in the'strait', which is a conduit for 80% of the world's fossil fuel?supplies. Kani, speaking...
Energy Markets
Germany releases oil reserves to combat the energy price spike caused by Iran war
Katherina Reiche, Germany's Economy minister, said that the International Energy Agency has recommended the release 400 million barrels from its stockpiles. This is the largest?such move? in IEA's history. Reiche confirmed to reporters in Berlin that the government intends to limit petrol price increases to one per day at filling station and introduce "more stringent antitrust regulations of the sector." She did not provide a definite time frame for these measures but said that the United States, Japan and other countries would contribute the most to the release. Reiche stated that the situation is tense as oil supplies are strained...
Nuclear Power
Greenpeace activists confront Macron at the nuclear summit in France
Two Greenpeace activists rushed onto the stage during a global nuclear summit held in France on February 2, interrupting Emmanuel Macron, President of France and Rafael Grossi, U.N. nuclear watchdog chief. The protesters were dressed in black suits with ties and held banners that bore the Greenpeace logo, and read "Nuclear Power= Energy Insecurity", and "Nuclear Power fuels Russia's War". Macron was shouted by one of the protesters, "Why are we still buying Uranium from Russia?" The president responded, "We produce nuclear power ourselves." According to the latest data from the French government, France not only has its own uranium-enrichment...
Energy Markets
Petronas' profit drops for the third consecutive year as oil price pressures weigh on margins
Petroliam Nasional Bhd, the Malaysian state-owned energy company Petronas, or Petroliam Nasional, reported a profit after tax of 45.4 billion ringgit ($11.68 billion) in 2025 compared to 55.1 billion ringgit in 2024. Revenues fell from 320 million ringgit to 266.1 billion rmb ($68.44billion) over the same period. Petroliam Nasional (or Petronas) reported a profit of $45.4 billion after taxes in 2025, compared to $55.1 billion in 2024. Revenues fell from 320 billion to 266.1 billion Ringgit ($68.44 Billion) during the same time period. Tengku Taufik Tengku, the Chief Executive Officer of Tengku Muhammad Tengku Aziz, said that oil prices were...
Natural Gas
The US AI boom is facing an electric shock
The race for artificial intelligence dominance by Big Tech may soon hit a bump in the road as U.S. power grids struggle with keeping up with hyperscalers who spend big. Microsoft, Amazon and Alphabet, among other technology giants in the US, announced in recent months that they plan to spend $600 billion in AI by 2026. Some investors are already concerned about the profitability of this strategy due to the investment wave. The ambitious U.S. AI plans will be hindered by severe power-infrastructure bottlenecks including turbine shortages and slow grid expansion. The processing and cooling of data centers that are...
Environment
The price of coffee in the world has fallen as the market remains volatile
The ICE coffee exchange saw a sharp drop in prices on Friday. Arabica coffee fell 8%, as the market remained volatile. Prices of cocoa were also sharply down, though both coffee and chocolate were expected to make strong gains this week. Market participants reported that speculative funds looking for a new home flooded into the coffee and cocoa markets on Monday. They were also tempted by fears about El Nino weather patterns strengthening and leading to more adverse weather conditions in important growing regions. The ICE then increased its'margin requirements or down payments for coffee and chocolate futures contracts. This...
German Parliament passes a heating law that eases renewable energy requirements
The German Parliament passed on Friday a controversial heating law that scraps the requirement for new building heating systems to derive at least 60% of their energy sources from renewable resources. From 2029, new gas and oil systems will be required to blend in climate-neutral fuels at a rate of 10% by 2040. According to the government's plan, heating fuels will be completely climate neutral?by 2045. This is in line with Germany’s larger climate goals. The Left Party had sought to delay the vote in the parliament by bringing a last-minute 'injunction'. However, the Constitutional Court on Thursday refused. Environmental...
Weekend Reads: Drones and Messi
Are you looking for inspiration? Weekend Reads is a weekly roundup of what the Open Interest team was reading, watching, and listening to. This week's picks include the impact of war on?energy security and food, China's ability to leverage critical minerals, and World Cup drama. We'll be reading RON BOUSSO's ROI Energy Columnist's paper, which examines the global impacts of Ukraine's drone attack on Russia's oil refinery infrastructure. The analysis provides great detail about the extent of the damage. CLYDE RUSSELL is a columnist for ROI Asia 'Commodities and Energy. The Iran War threatened to cause a food shortage. The...
Pollution
Pollution
The first large-scale UK lawsuits about diesel emissions are largely won by carmakers
Some of the world's largest carmakers won the first stage of a mammoth court battle on Friday over whether their diesel vehicles had "defeat mechanisms" that limited emission control systems. In a summary of her decision, Judge Sara Cockerill stated that she "rejected the majority?of the main allegations advanced against the manufacturers?whose vehicles?were examined at trial". The decision was made after a trial that?focused on?20 sample vehicles produced by five manufacturers: Mercedes-Benz, Ford, Nissan and Renault, as well as the Stellantis-owned Peugeot and Citroen. Cockerill said that in her summary, she made some negative findings. She stated that the "split...
Pollution
US EPA suggests easing Biden heavy truck emissions regulations
The U.S. Environmental Protection Agency (EPA)?on Wednesday proposed to ease heavy-truck and engines emissions regulations?adopted by Democratic President Joe Biden under 2023. This will allow for the sale of certain engines that don't meet the stricter tailpipe?rules. The EPA has proposed reducing the requirements for emissions warranties and allowing additional time to implement longer regulatory useful lives. The EPA has noted that certain 2027 medium- and heavy-duty engines have faced technical challenges. It proposes allowing manufacturers to sell their current products until they complete the development of 2027 compliant engines. EPA stated that even after its proposed changes the reduction...
Climate Change
Scientists warn that China's ability to cope with catastrophic storms will be tested in 2026.
Scientists warn that extreme weather will only become more common this year. Weather systems are expected to bring severe weather conditions that will test the resilience and preparedness of densely populated urban areas as well as rural communities. China's National Climate Center predicts that up to six typhoons will form in the Northwest Pacific Sea and South China Sea by July, more than the average of 3.8. Three of these storms could land, which is more than the average of 1.8. It said that the intensity of cyclones would also be higher. Scientists claim climate change is exposing the second...
Pollution
Trump is granted a court order to stop restoring climate park exhibits and slavery.
The U.S. appeals court lifted an order on Thursday that required the Trump administration to restore dozens of exhibits it had removed from national parks, including those on slavery and climate changes. The 1st U.S. Circuit Court of Appeals, a three-judge panel based in Boston, has put on hold a judge's order requiring the National Park Service to reinstall?exhibits that it removed under President Donald Trump's directive targeting displays?that "inappropriately disparage Americans past or living." Circuit Court of Appeals halted a judge’s order requiring that the National Park Service reinstall 'exhibits' it had removed as a result of President Donald...
Mineral Resources
Hungary to clampdown on EV batteries after pollution case
Hungarian Environment minister Laszlo Gajdos threatened to shut down factories in the EV battery industry if they did not comply with environmental regulations. This is a significant policy shift for Viktor Orban, a right-wing politician who lost his power in April. Orban, who lost power in April, has 'bet big on EV batteries. He will attract foreign investment of EUR26 billion ($29.69billion) by 2021, mostly from South Korean and Chinese companies, making Hungary a hub in Europe. Environmental and health and security concerns about the plants were a key issue before the election. Centre-right rival Peter Magyar who promised to...
Energy Markets
California asks court to stop reversal state emission regulations
California filed a preliminary order on Thursday to stop the U.S. Environmental Protection Agency is preparing landmark state vehicle emission rules for possible?repeal of Congress. The Trump administration EPA stated earlier this month that waivers?under Clean Air Act approved by California environmental regulations under previous Democratic administrations, should have been sent under the Congressional Review Act to legislators. California filed a lawsuit in U.S. District Court, Washington earlier this week to seek a preliminary order that would stop the EPA's action. This move could threaten California's vehicle emission?program, which has been adopted by 12 other states and forced automakers into...
Energy Markets
French court orders TotalEnergies to address climate risks associated with its products
A Paris court on Thursday ruled that French oil giant TotalEnergies had to disclose climate risks associated with emissions from its oil products and present plans to mitigate them. The decision is a partial win for climate change NGOs who are trying to apply France's duty of vigilance corporate law from 2017 to climate change. The?court did not order any specific measures, such as limiting exploration and production overseas or setting binding emission?reduction targets. In recent years, climate litigation against oil giants has had mixed results. The Netherlands Supreme Court is currently reviewing a landmark Dutch ruling that ordered Shell...
Pollution
The top cases in the US Supreme Court docket
The U.S. Supreme Court has been deciding important cases in its current term. These include voting rights, presidential power, tariffs and birthright citizenship. Other issues are race, transgender sportspeople, campaign finance laws, LGBT "conversion therapies" and federal agency authority. The term began in October, and will run through the end of June. Separately, the court has also acted in emergency cases in several cases that challenge President Donald Trump's policy. VOTING RIGHTS ACT On April 29, the court gutted a crucial provision of the Voting Right Act, making minorities less likely to challenge electoral maps under the landmark civil right...
Pollution
Bangladesh calls for more climate finance support after saying that the $300 billion target falls short
Bangladesh demanded on Tuesday that the $300 billion per year global climate financing goal be increased to meet developing country needs. Tarique Rahman, the Prime Minister of Bangladesh, urged wealthy countries to honor their climate commitments before the next United Nations climate negotiations, which will take place in November. He spoke at the World Economic Forum Annual Meeting of the New Champions, held in Dalian, China. Bangladesh, one of the most vulnerable countries in the world to climate change is looking for'support to finance projects that will help it cope with rising flooding, cyclones and river?erosion, as well as saltwater...
Pollution
The top cases in the US Supreme Court docket
The U.S. Supreme Court has been deciding important cases in its current term. These include voting rights, presidential power, tariffs and birthright citizenship. Other issues are race, transgender sportspeople, campaign finance laws, LGBT "conversion therapies" and federal agency authority. The term began in October, and will run through the end of June. Separately, the court has also acted in emergency cases in several cases that challenge President Donald Trump's policy. VOTING RIGHTS ACT On April 29, the court gutted a crucial provision of the Voting Right Act, making minorities less likely to challenge electoral maps under the landmark civil right...
Pollution
Europe BEV shares reach record high in May
In May, battery electric vehicle registrations in Europe hit a record market share, continuing a strong growth due to?subsidies and policy support?and higher petrol prices. Data from E-Mobility Europe (EME), New Automotive and Fier Automotive revealed that battery electric vehicle registrations in 17 European markets increased by 34.4% compared to the previous year, reaching 212,387 cars in May. This gives fully electric vehicles a market share of 23.6%. This followed growth of 34.1% in March and 51.3% in April, according to data from E-Mobility Europe. In a press release, Chris Heron, secretary general of E-Mobility Europe said that "consumers and...
Energy Markets
Russian-held Crimea restricts motorcycle use, claiming they sound like drones
Moscow-installed officials in Crimea have banned motorised vehicles such as quad bikes, motorcycles and scooters from being used at night. They claim that they sound like drone attacks. The peninsula's Russian-installed Governor, Sergei Aksyonov said that the ban would be enforced between 8 p.m. to 6 a.m. on Wednesday. He called it a temporary measure for the protection of military and important facilities. The moped's noise interferes with the operation of defense systems. "Their engines sound like drones,"?Oleg?Kryuchkov, Aksyonov’s advisor, said on Telegram separately on Tuesday. "The enemy is enlisting your children for nighttime rides." The Crimea ban does not...
Wind Farms
New York files suit against the Trump administration for a halt on two offshore wind project
New York's Attorney General sued the Trump Administration on Friday over the suspension of construction on two offshore?wind farms that it says are needed to power a million homes and reduce the state's reliance on fossil-fuels. Letitia J., New York's Attorney General, has filed two separate lawsuits asking the federal court in Washington not to allow President Donald Trump's freeze of federal offshore leases owned by Equinor from Norway and Orsted from Denmark on December 22, 2018. The Interior Department said that it had halted the project due to complaints from?the Pentagon, that wind turbines can cause radar interference which...
Sponsored: Record Deals and Record Attendance Underscore ADIPEC’s Global Impact
Record-breaking 239,709 attendees from 172 countries gathered at ADIPEC 2025, reaffirming UAE’s convening power and its role as a global hub for energy, partnerships and innovation. ADIPEC 2025 generated an estimated US$400 million in economic benefits for Abu Dhabi’s economy, particularly across the hospitality, tourism and transport sectors. Expanded AI Zone and dedicated industry areas showcased the role of AI, digitalisation, decarbonisation, chemicals and low-carbon solutions in advancing energy resilience. 45+ ministers and policymakers, and 1,800+ speakers from energy, finance and technology explored the future of energy under the theme ‘Energy. Intelligence. Impact.’ ADIPEC 2026 will take place from 2-5 November 2026, with expanded focus on...
Sponsored: Energy and Finance Chiefs Call for Sound Policy, Stable Frameworks at ADIPEC
Global finance leaders discuss the new era of energy investment defined by pragmatism, diversification and strategic capital allocation Industry leaders urge fundamentals-based planning amid global volatility, with stable, sound and clear policy frameworks identified as key investment landscape criteria Liquefied natural gas, methane and carbon reduction innovations and emerging markets identified as key investment frontiers Organisations whose speakers shared finance insights at ADIPEC 2025 included Moeve, The World Bank Group, Siemens Energy, NNPC, and PETRONASAbu Dhabi, 05 November 2025: Day 3 of ADIPEC 2025 concluded on 5 November with a resounding call to action for global financiers, policymakers, and energy leaders to...