Oil prices moved lower in early Asian trading on Monday, erasing the modest gains posted last week, as crude loadings resumed at the key Russian export hub of Novorossiysk following a two-day suspension of operations at the Black Sea port. At the time of writing, front-month Brent crude futures had dropped by 64 cents to $63.75 per barrel, while WTI crude futures were trading at $59.43 per barrel, down 66 cents from Friday’s close. Last week’s rally of more than 2% for both benchmarks was underpinned by a disruption at Novorossiysk…

Global LNG supply is rising and growth will accelerate in the next two years as major projects in the top exporters, the United States and China, come on stream. Supply growth is set to outpace the global LNG demand increase, leading to an oversupplied market from the end of 2026 onwards, analysts say. The coming glut will likely depress spot LNG prices in Asia, where the price-sensitive buyers such as South Asian importers India, Pakistan, and Bangladesh could benefit from the price drop and boost demand. For Europe, the expected LNG oversupply…

In recent years, a growing number of fossil fuel lobbyists have attended the annual United Nations COP climate summits. Previously, host country leaders and event organisers have justified the attendance of these lobbyists by saying that they play an integral role in supporting the green transition, and that their cooperation is needed to meet climate goals. However, with studies showing that not enough change is being made by fossil fuel companies to support the global green transition, many are questioning their right to attend the climate summits. …

With COP30 now underway in Belém, Brazil, it can feel as though the world is backsliding when it comes to curbing emissions. Since the last climate summit, major oil companies have scaled back their climate goals, the U.S. has cancelled billions in clean-energy grants, and even Bill Gates has called for a new approach to countering climate change. But those headlines don’t reflect the inexorable progress that is being made across a variety of clean energy sectors, even if the rate of growth in some areas may be slowing. Some of the…

Since the Labour Party came into power in the United Kingdom in July 2024, there has been a major change in the government’s approach to energy. The U.K. is now rapidly transitioning away from fossil fuels towards green alternatives, with ambitious climate goals set for the end of the decade and mid-century. Ahead of the COP30 climate summit in Brazil this month, Prime Minister Kier Starmer reaffirmed his commitment to creating a green economy, while the U.K. energy minister Ed Miliband said we must not give up on tackling global warming. …