Electric vehicles (EVs) are now mainstream in Australia, with record sales in May driven by falling prices, improved resale values, and the oil crisis. Chinese brands dominate the market, offering models below $30,000, while infrastructure remains the primary barrier to wider adoption.
Electric vehicles are now mainstream in Australia, with record sales in May driven by falling prices, improved resale values, and the oil crisis. Chinese brands dominate the market, offering models under $30,000, while infrastructure remains the key barrier to wider adoption.
Russian Deputy PM Alexander Novak stated the global oil crisis is unprecedented, with a potential shortage within three months if the Middle East conflict persists. He noted 12 million barrels daily are not entering the market and Russia's production is lower than at the start of 2026 but aims to return to previous levels.
Russian Deputy Prime Minister Alexander Novak described the current global oil market crisis as unprecedented, stating that nothing comparable has occurred even in the last century. He made these remarks at the St. Petersburg International Economic Forum (SPIEF-2026).
Civil construction firms warn surging diesel and material costs driven by the global oil crisis will force lay-offs and project delays, with nearly a third considering winding down.
Civil construction firms warn surging diesel and material costs driven by the global oil crisis will force lay-offs and project delays, with nearly a third considering winding down.
Civil construction firms warn surging diesel and material costs driven by the global oil crisis will force lay-offs and project delays, with nearly a third considering winding down.
Widely dispersed wind farms and solar panels are harder to target than fossil fuel power stations, Michael Shanks saysRenewable energy will boost the UK’s national security and make the country more resilient against potential aggression or sabotage, the government’s energy minister has said.Michael Shanks said widely dispersed wind farms and solar panels were much harder to target than large-scale fossil fuel power stations. They are also not vulnerable to supply shocks, such as the current oil crisis caused by the US-Israel war on Iran and the soaring gas prices that followed Russia’s invasion of Ukraine in 2022. Continue reading...
The International Energy Agency's executive director Fatih Birol has warned that the oil crisis triggered by the US-Israel war on Iran has permanently changed the global fossil fuel industry, with countries set to lose trust in oil and demand set to reduce. In an exclusive Guardian interview, Birol urged the UK to abandon plans for new North Sea fields including Jackdaw and Rosebank, saying they would not improve energy security or lower bills. He said the crisis was bigger than all previous crises combined and would have permanent consequences.
Bitcoin faces $8.07 billion options expiry on Deribit April 24 with bullish call skew but max pain near $71,500-$72,000, creating structural tension. The expiry occurs three days before the Fed's April 28-29 meeting and four days before Q1 GDP and PCE inflation data, amid oil-driven inflation concerns from the Strait of Hormuz closure. Fed officials have warned elevated rates may persist longer than markets expected.
IEA Executive Director Fatih Birol warned on France Inter that the situation around Iran has triggered the largest oil crisis in history. He cautioned that when combined with the gas crisis in relations with Russia, it becomes a colossal crisis affecting not just oil and gas but also fertilizers, petrochemicals and sulfur, with developing economies and employment most at risk.
Global finance talks are being forced to downplay the climate crisis due to US pressure, with countries urged not to mention climate even while addressing the oil crisis. Experts warn this is "beyond absurd" and disastrous for developing nations.
