Nowadays, the oil bulls can’t seem to catch a proper break. Just when the markets were beginning to warm up to the idea that a large stimulus package by Beijing would boost demand by the world’s largest crude importer (buy on the rumor), oil prices have been badly hammered after the actual thing underwhelmed (sell on the news). The markets have thrown a strop after the People's Bank of China cut two benchmark lending rates by a mere 10 basis points each, seen as too small to make a difference. “On their own, 10 bps cuts are…

China has been leading the electric vehicles (EV) manufacturing race in recent years, and now the region can expect a big EV infrastructure boost to promote the uptake of environmentally friendly vehicles. Both China and India expect to see huge investments in their EV industries, with the construction of thousands of EV charging stations, and other countries in the region are likely to follow in their footsteps as they transition away from internal combustion engine (ICE) vehicles.  A conference on EV charging infrastructure in the Asia Pacific…

A Tohoku University led international research group has engineered a new energy-generating device by combining piezoelectric composites with carbon fiber-reinforced polymer (CFRP), a commonly used material that is both light and strong. The new device transforms vibrations from the surrounding environment into electricity, providing an efficient and reliable means for self-powered sensors. Details of the group’s research have been published in the journal Nano Energy without a paywall. Energy harvesting involves converting energy from the…

In May 2023, United States National Security Council spokesman John Kirby announced that Russia is looking to purchase additional Iranian drones and loitering munitions. Kyiv believes that Moscow already received around 2,400 units from its “brother in arms” and has already used over 400 of them in strikes against Ukrainian civilian centers and critical infrastructure (Ukrainska Pravda, May 15). US intelligence claims that, alongside drones, previous aid packages also included artillery and tank rounds. Although still awaiting final…

Warnings from the chemical sector on the outlook for earnings are piling up — just as worrying signs about global demand and economic growth begin to multiply across the board. June has proved a bad month for chemical producers, with four European companies warning about their profit outlook for the rest of the year. This week, Lanxess joined Croda, K+S and Victrex in preparing investors for the impact of weak demand, tougher pricing, or destocking by customers. In the US, Cabot blamed softer global demand as it ditched its full-year…

It’s been a volatile year for the cryptocurrency sector, to put it mildly. The industry has faced unprecedented levels of scrutiny, scandals, and bad press thanks to high-profile fraud and financial missteps such as the collapse of the FTX crypto futures exchange and crypto-based hedge fund and the subsequent indictment of its now-infamous co-founder and CEO Sam Bankman-Fried.  While most of the buzz has since blown over, the industry remains under a regulatory microscope, and many companies are still tangled up in litigation. Just this…

At a time when global recession concerns have depressed global oil prices to pre-Ukraine war levels, prices of Middle Eastern oil have skyrocketed on soaring demand from Asian refiners in China to Japan as the market takes stock of heavy trading by the industry’s biggest names this month. According to Bloomberg, spot differentials for August-loading Oman crude have jumped to more than $2 a barrel against the Dubai benchmark as of Wednesday, compared with 60-70 cents last week; premiums for Abu Dhabi’s Murban grade also rose - it’s…

The Groningen gas fields will be turned off on October 1 of this year, and permanently close next October, The Netherlands Minister of Mines confirmed on Friday. According to Netherlands Mines Minister Hans Vijlbrief, the fields, set to shut down on October 1, will remain in operational status for another year just in case the country finds itself on the energy backfoot with an exceptionally cold winter, Vijlbrief said. But as of next October, the gas fields will be closed permanently and dismantled. Vijlbrief cited years of problems with the fields,…

Higher interest rates, strong inflation and pessimistic expectations for growth are weighing down businesses across the UK’s services and manufacturing sectors, according to the latest gloomy report on the country’s flagging economy. This month’s data from the S&P Global’s Composite Purchasing Managers’ Index (PMI) indicates the UK is in the challenging position of historically elevated interest rates amid signs of an economic slowdown. The index surveys businesses in the services and manufacturing sectors –…