Global oil prices rose on Thursday, recovering part of the previous session’s losses, as market participants reassessed the outlook for a potential de-escalation in tensions involving Iran and the United States. The conflict has continued to disrupt energy flows across a critical oil-producing region.
China launched its first AI platform for energy storage data analysis. Using AI and big data, it remotely detects defects and hazards in new energy storage equipment, generating real-time maintenance plans for prompt action.
Global energy technology company SLB announced an expansion of its technology collaboration with NVIDIA to design and deploy critical AI infrastructure and models for the energy industry.
New International Energy Agency (IEA) analysis finds many energy technology supply chains contain at least one weak link, underscoring need to reduce concentration and improve industrial competitiveness.
Mostra Convegno Expocomfort (MCE), the global business platform for companies in the HVAC+R, renewables, energy efficiency and the water sectors, has opened its doors in the Italian city of Milan for its 44th edition featuring over 1,600 exhibiting companies from more than 48 countries.
Abu Dhabi Department of Energy has confirmed the readiness and efficiency of the emirate's energy and water ecosystem following field visits to several of its vital utility facilities. This comes in line with its efforts to advance sustainability while strengthening energy and water security in the emirate.
Copper futures fell to their lowest level in multiple months, reflecting a combination of macro-economic pressure and demand concerns. Escalating tensions in the Middle East have driven energy prices higher, raising concerns about inflation and a potential drag on global growth, said an expert.
In a major escalation in the Middle East conflict, Iran's huge Pars gas field was hit on Wednesday in the first reported strikes on Iranian energy infrastructure in the Gulf during the US-Israeli war, prompting Tehran to warn its neighbours that their energy installations would be targeted "in the coming hours".
Oil prices rose on Monday as investors weighed renewed geopolitical risk despite US President Donald Trump urging other countries to join efforts to secure the Strait of Hormuz, while Iran said the strategic waterway remained open only to countries that are not directly involved in attacks against it.
The Middle East conflict is causing an energy-led supply chain shock, with very different effects around the world even as market pricing suggests weeks of disruptions, not days or months, said an expert, stating that this episode adds to inflation risk in a world shaped by supply factors.
