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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 time in history in 2027. According to the EIA, power sales for residential customers will reach 1,524 billion kWh in 2026. Commercial customers will see 1,527 billion for commercial customers. Industrial customers are expected to get 1,053 billion for industrial consumers. These forecasts are compared to all-time records of 1,515 billion kWh in 2025 for residential customers, 1,493 billion for commercial customers and 1,000 billion for industrial customers. EIA estimates that residential electricity prices will increase by 5% between 2026 and 2027. However, the rate of growth in 2027 is expected to be slower. The price of electricity is rising in all parts of the United States, but it will be most noticeable along the East Coast. The EIA stated that as renewable output increases, coal's share in power generation will decline from 17% in 2020 to 16% by 2026. The share of natural gas in power generation would fall from 40% to 39% by 2026, before returning to?40% by 2027. According to the outlook, renewable energy's share will increase from 24% to 25% by 2026 and to 27% by 2027. Nuclear power's portion?will remain at 18% through 2025, 2026 and 2027. The 'EIA' projected that gas sales for residential customers would fall to 12.4 billion cubic feet per a day (bcfd), and commercial customers to 9.4 bcfd, but industrial customers to 23.9 bcfd and power generation to 36.0 bcfd. These figures are compared to all-time records of 14,3 bcfd for residential customers in 1996, 9.9 bcfd for commercial customers in 2025, 23.8bcfd for industrial customers in 1973, and 36,8bcfd for power generation in 2024. Reporting by Scott DiSavino, Editing by Alistair Bell
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As the E15 ethanol legislation nears US voting, lobbying intensifies
The refining industry is trying to sabotage the biofuels initiative. The industry is now closer to reaching a goal that they've been pursuing for years. However, they are still facing opposition from legislators in the refining states as well as uncertainty within a deeply divided Senate. In 2024, a similar provision was removed after Elon Musk and conservative lawmakers opposed it. Musk was the Trump administration's efficiency head at the time. In January 2026, a renewed effort failed as well. Instead, lawmakers formed a taskforce to study the possibility of allowing E15 to be sold year-round. Elon Musk's representatives did not respond immediately to a comment request. Representatives from both sides lobby Congress. On Monday and Tuesday, representatives of the American Petroleum Institute and Small Refineries of America met with lawmakers at Capitol Hill. The H.R. The H.R. This blend is usually prohibited during summer due to concerns about smog. However, the Trump administration has temporarily lifted this restriction from May 1 for 20 days to help reduce gasoline prices which have risen since the Iran War. Trump, who visited Iowa in the spring and said he would approve any E15 bills sent to him, has shown his support for biofuels. The White House, however, has not applied any political pressure since then to encourage lawmakers to act on the bill. This highlights the complicated and divisive nature ethanol politics in Washington. The bill's opponents say it will increase fuel prices for consumers, at a time where gasoline and diesel are already reaching record levels. Green Scissors, an environmental group, is also against the bill. They sent a letter to Congress Monday stating that E15 could worsen air quality, soil and water, and cost taxpayers'single-digit millions. Brecheen, a commentator on X, said that if exemptions were tightened, it would result in refineries being closed - including those located in Oklahoma, a state with a large refining industry. Small Refineries of America (which represents 12 refineries) said that stricter rules regarding exemptions would also remove important relief included by Congress in the program for small refineries to deal with compliance costs of blending Biofuels into the Nation's Fuel Supply. If this bill passes, you will likely see a substantial impact. This could include closures or layoffs. "For some of these refiners, the exemptions are absolutely crucial," said Peter Whitfield. A lawyer from Sidley Austin LLP, which represents the group. He added that fewer refineries will reduce fuel availability and increase costs for consumers. Renewable Fuels Association, which represents biofuel producers and sells E15, says it can lower costs at the pump. It notes that E15 typically sells 15-40 cents less per gallon than standard E10 gasoline (also known as regular unleaded) and is $1 or more cheaper than ethanol-free gas. Geoff Cooper, RFA's Chief executive officer, wrote a blog on Wednesday last week saying that you should "believe your eyes" when it comes to E15. Reporting by Siddharth Cavale in New York, and Jarrett Renshaw from Washington. Editing by Chizu Nomiyama.
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EIA: US natgas production to reach record highs in 2026 while demand declines
The U.S. Energy Information Administration?said Tuesday that U.S. Natural Gas?output would reach a record-high?in 2026 while demand would decline. EIA predicted dry gas production would rise from a 107.7 billion-cubic-foot record in 2025, to 110.6 bcfd by 2026, and 115.0 bcfd by 2027. The agency also projected that domestic gas consumption would fall from an all-time high of?91.9 billion cubic feet per day (bcfd) in 2025, to 91.2 in 2026 and then to?94.4 in 2027. May's projections were higher than EIA forecasts in April, which predicted 109.6 billion cubic feet per day for production and 90.6 for demand. The agency forecast that the average U.S. exports of liquefied gas would increase from 15.1 billion cubic feet per day (bcfd) in 2025, to 17.0 in 2026, and 18.2 in 2027. The EIA predicted that the U.S. coal output would fall from its two-year peak of?528.4?million short tons in?2025 to?518.6?million?tons in 2026, and to 487.1?million tons in 2027, which is the lowest level since 1963. EIA predicted that carbon dioxide emissions from fossil fuels will decline from a three-year peak of 4.905 billion tons in 2020 to 4.797 billion tons in 2030 as oil, coal, and gas utilisation decreases, before increasing to 4.820 metric tonnes in 2027 due to increased gas usage. (Reporting and editing by Daniel Wallis; Scott DiSavino)
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NEI: US considers financing billions in parts for nuclear reactors with long lead times
The U.S. Department of Energy has been considering a plan to finance billions of dollars for components of large reactors, which can take years to secure. This was revealed by the director of industry group Nuclear Energy Institute on Tuesday. The U.S. Department of Energy is considering a plan to 'finance billions of dollars?for components that can take a long time to secure. The DOE did not respond immediately to a comment request. It's going help several?U.S. "It's going to help several?U.S. utility companies who are interested in AP1000?" deployment, Maria Korsnick said at NEI's Washington conference about the financing plan. Donald Trump has set the goal to quadruple the U.S. nuclear capacity by 2050. This is a bold target, considering that the last reactors in the U.S. took seven years longer than expected and cost billions more. U.S. Energy Sec. Chris Wright said that nuclear power plants will be the biggest use of his Office of Energy Dominance Financing. The office has hundreds of billions in financing aid including loan guarantees to help projects that have difficulty getting bank loans. During Trump's first tenure, he only used the division, then known as the Loan Programs Office to finance reactors at Georgia's Vogtle Nuclear Power Plant.
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Arctial Aluminium plant in Finland to produce first metal by H2 2029
Maxime Vandersmissen, Arctial's chief commercial officer, said on Tuesday that the smelter, owned by Rio Tinto, in Finland could help boost production in Europe and produce hot metal in the second half 2029. The project is still three years from production, but it is already in the spotlight, as the Iran War has made aluminium more scarce in Europe, which is heavily dependent on imports. Vandersmissen, speaking at the CRU World Aluminium Conference in London said that the project aims to produce 610,000 metric tonnes of aluminium per year. Vandersmissen stated that this would increase the European production level by 20%. According to the International Aluminium Institute (a trade association), Europe will produce 7.1 million tonnes in 2025. The data also includes Russia where Rusal made 3.9 million tonnes last year. This leaves a little over 3.2 million for the rest Europe. The Middle East conflict has all but stopped bulk shipping across the Strait of Hormuz, which is a major supplier of primary aluminum?and alloys for Europe. The Middle East's reduced supply, which represents 9% of the global supply, with its 7,000,000 metric tons annual capacity, has led to an increase in European aluminum premiums. The physical premium that European buyers pay over the LME price of primary aluminium to cover taxes, freight and handling costs is $599 per ton. This has increased by 67% since late February, when the U.S. & Israel began the war against Iran. According to Fastmarkets in Rotterdam, the premium for aluminium billet extrusion over the benchmark has increased by more than two-thirds to $1,152.5 per metric ton on Friday, from the $530 level pre-war. Arctial will be the first primary aluminium production in continental Europe since over 30 years. However, it won't be able to cover all of Europe's import needs. Trade Data Monitor reports that, for example, Europe imported around 1.2 millions tons of primary and alloyed aluminum from the Middle East and Egypt in 2013. Reporting by Tom Daly and Eric Onstad, Editing by Mark Potter & Emelia Sithole Matarise
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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 number of new liquefied gas sales agreements that the U.S. has secured since the start of the Iran War to just under?3,000,000 mtpa. This reflects the increased demand for U.S. shipments due to the continued closure of the Strait of Hormuz. Venture Global said that under the new contracts it will sell 0.85 million mtpa LNG to TotalEnergies, and increase the previously contracted volumes to Vitol by an additional 0.2 million mtpa. Deliveries are expected to begin this year. Vitol signed a deal in late March for 1.5 million mtpa. Venture Global ?had also previously inked a 500,000-metric-ton-per-year deal with Trafigura on March 2. Sabel stated that "these agreements demonstrate the continued trust and confidence in Venture Global's capability to deliver reliable, low-cost U.S. Liquefied Natural Gas to global markets at a scale and speed as demand for energy security continues to grow." Venture Global's agreement with TotalEnergies is the first long-term contract that Venture Global has signed to sell LNG to the French giant. Total had previously bought cargoes on the spot market. Sabel stated that by offering customers short, medium and long-term options for supply, we provide the flexibility and assurance they need to "deliver LNG where and when it is most needed." Venture Global is the only U.S. company that has more LNG available for immediate sale. This is because its Plaquemines plant in Louisiana (the country's largest export facility) ramps up production as it commissions. Reporting by Curtis Williams, Houston; Editing by Lincoln Feast and Deepa Babyington
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As ties with Syria warm, UAE trade with Syria grows rapidly
A UAE minister told a Damascus Investment Forum that trade between the United Arab Emirates (UAE) and Syria has more than doubled since '2025. It will continue to grow. This is a sign of rapidly warming relations between both countries. Thani Al Zeyoudi, UAE Minister of State in charge of?Foreign trade, told the first?Syrian Emirati Investment Forum the non-oil trading between the United Arab Emirates (UAE) and Syria will reach a record $1.45 billion by 2025. This is a 132% increase from the previous years. He said that the rise in bilateral trade is a positive sign. During the two-day conference, the Syrian and Emirati parties reached preliminary agreements on dozens investment projects in tourism, construction, infrastructure, agriculture, aviation, and logistics. The UAE has been slower than Saudi Arabia or Qatar to expand ties with President Ahmed al-Sharaa of the new Syrian Government, a former al-Qaeda commander. The gradual improvement of ties has increased since the beginning of the war with Iran, when the UAE was attacked by the Iranians and Sharaa expressed her solidarity with Abu 'Dhabi. Anwar Gargash is the top diplomat advising the UAE president. He said that in April, Syria was one of the Arab countries with the "most positive attitude towards the UAE". Sharaa and other senior officials of both countries attended the investment forum held at Damascus' Presidential Palace. Mohamed Alabbar is the founder of Emirati property development company Emaar. He said that his firm was currently studying projects worth up to $12 billion in Damascus and up to $7 billion on Syria's coastline. Nidal Shaar, Minister of Syrian Economy and Industry, said that the two sides agreed to form a Syrian "technical delegation" to visit the UAE to develop an implementation roadmap and a comprehensive plan for the recent agreements. Etihad Airways announced Monday that it would resume flights between Abu Dhabi, UAE and Damascus by mid-June. The airline had suspended operations in 2012 after the Syrian conflict broke out. Syria is attempting to attract foreign investments to help support its economy, which has been devastated by a decade-long war and Western sanctions. Most of these sanctions were lifted last year. In the last year, Damascus has signed several billion dollar memoranda with Gulf investors including Saudi Arabian and Qatari companies. It also secured deals with U.S. firms, such as the oil and deep-water exploration contract with Chevron. (Reporting from Dubai by Feras Dalatey; Editing by Tom Perry/Keith Weir).
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Pentagon: US war on Iran has cost US $29 billion to date
A senior Pentagon official stated on Tuesday that the United States war in Iran has cost $29 billion so far, which is an increase of $4 million from an estimate given late last month. The Democrats have been able to gain a lot of ground in the public opinion polls, as they try to tie the war to cost of living issues. The Pentagon announced on April 29 that the war had already cost $25 billion. Jules Hurst who performs the duties of comptroller told lawmakers that the new costs included updated repair and replacing equipment?and operational expenses. Hurst stated that "the joint staff team as well as the comptroller's team are always looking at this estimate." He spoke alongside General Dan Caine, Chairman of the Joint Chiefs of Staff and?Defense Secretary Pete Hegseth. The 'Pentagon has not explained how it arrived at this $29 billion number. In 'March, a source said that Trump's Administration estimated the?first six days?of war costing at least $11.3billion. Reporting by Idrees Al, Phil Stewart, and Doina chiacu. Editing by David Ljunggren.
Ukraine's grain production is expected to reach 60.4 million tons in 2026
The deputy economy minister stated on Tuesday that Ukraine's grain production forecast for this year is 60.4 million tonnes, which is a similar level to the previous year despite the wartime challenges and a wet, cold spring.
He added that farmers are expected to harvest 22.4 million tonnes of wheat. This will be enough to meet Ukraine’s domestic demand and preserve export possibilities.
The cold and wet soils that delayed sowing some crops made this year's spring sowing campaign more difficult.
In a recent statement, Taras Vysotskiy said that the weather risks are mainly affecting?corn. This crop is dependent on sowing dates, temperature conditions, and moisture levels during the growing seasons.
The forecast for barley and wheat is also realistic and reliable in order to guarantee food security. "The agricultural sector shows its ability to adapt, even in difficult circumstances."
The ministry stated that it expects the corn harvest this year to be around 31.6 million tons, while barley will be around 4.7 millions tons in 2026.
The ministry did not provide any comparative figures for the previous harvest.
Ukraine is one of the world's largest food producers and exporters. Its agricultural sector has proven resilient, despite extensive damage caused by more than four years war with Russia.
(source: Reuters)