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OPEC and its allies including Russia next meet on August 3.

Oil advances as traders weigh Mideast supply after Biden’s trip

West Texas Intermediate neared $US99 a barrel after dropping almost 7 per cent last week as investors fretted that a global slowdown may hurt demand.

  • 1 hr ago
  • Bloomberg News

This Month

Mulyani Indrawati said emerging markets’ energy transition should not come at high costs to the public.

Energy costs threaten emissions targets, emerging nations warn

With inflation rising globally amid the Russia-Ukraine conflict, some countries have reverted to coal and other fossil fuel-based power or delayed their energy transition plans.

  • Andrea Shalal
En route to Saudi Arabia. Joe Biden with Israeli President Isaac Herzog and Prime Minister Yair Lapid in Tel Aviv this week.

Biden faces ‘mission impossible’ in plan to tame oil prices

Oil executives and market analysts say both parts of the plan are fraught with difficulty and could backfire by goading Russia into cutting its energy exports.

  • Derek Brower and David Sheppard
Prime Minister Anthony Albanese.

Albanese to promise ‘new era’ on clean energy supply

Indo-Pacific leaders should use soaring investments in renewables to diversify and secure critical supply chains, Prime Minister Anthony Albanese says.

  • Tom McIlroy
Continued pain: Building material cost inflation may be past its worst but energy costs are now a growing threat to the industry.

Energy adds to builders’ woes as costs rise the fastest in 20 years

Construction cost inflation is spreading beyond materials more widely and one key input - energy - now has the industry even more worried.

  • Michael Bleby
Wholesale electricity prices have surged, squeezing retailers.

Energy retailers investigated for $100m hedges

Two small sellers urged customers to leave and then quietly sold their hedging positions for up to $100 million.

  • Colin Packham
Xpansiv CEO Joe Madden.

Xpansiv explains Blackstone’s US$400m entry to investors

Blackstone’s written a six-year loan, convertible into Xpansiv shares at a $US1.4 billion post-money valuation.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
Brickworks Managing Director, Lindsay Partridge is worried about gas prices.

‘We either pass energy costs on to customers or shut down’

Soaring power bills have left companies with the difficult decision to raise their prices or close operations.

  • Mark Ludlow and Jacob Greber
The price of power just keeps going up.

Nasty energy bill shock awaits companies that thought they had escaped

The politicians and the regulators accused generators of gaming the system last month but all consumers will end up paying generators the compensation for being forced to operate at a loss.

  • Jennifer Hewett
Energy retailers face tough new oversight from regulators.

Energy retailers face new oversight amid wholesale crunch

Energy retailers will have to reveal commercially sensitive financial information and provide weekly information about customers amid concern more retailers may collapse.

  • Colin Packham
Norwegian gas has become more critical to Europe as Russia curbs supply.

Europe breathes a sigh of relief as Norway quells gas strike

Threats of industrial action over wage demands could have shut off half of Norway’s exports – and were enough to drive prices higher and the euro lower.

  • Updated
  • Hans van Leeuwen
One positive: retail petrol prices in the US have eased from a record above $US5 a gallon in mid-June.

US oil plummets, settles below $US100 a barrel

Brent crude futures fell more than 9 per cent as recession risks cloud the outlook for demand.

  • Julia Fanzeres
An employee adjusts the control valve of a wellhead at a Uniper natural gas storage facility.

Germany draws up law to take stakes in struggling gas importers

The law, which could be passed by parliament as early as this week, would clear a path for the government to bail out Uniper, the largest importer of Russian gas into Germany.

  • Guy Chazan
Under pressure. Pipes at the landfall facilities of the Nord Stream 2 gas pipeline in Lubmin, northern Germany.

Germany faces deepening energy crisis as Russia shuts off gas

Berlin has warned that Moscow could use this month’s regular maintenance to the Nord Stream I pipeline linking the nation to Russia’s vast gas reserves to ‘blockade’ all deliveries to Germany.

  • Andrew McCathie
Australia has an opportunity to be at the forefront of the switch to renewable energy.

How Australia can be a clean energy industrial success

European countries have de-industrialised to cut emissions. Our competitive advantage means we can follow a different path in a net zero global economy.

  • Tony Wood
Premier Daniel Andrews and Minister for Energy, Environment and Climate Lily D’Ambrosio say they will blow energy shortfalls away with offshore wind.

Victoria unveils gas phase-out plan

Victoria will end incentives for residential products by the end of next year as it encourages residents to embrace sustainable alternatives amid the crisis.

  • Mibenge Nsenduluka


More transmission is urgently needed to create a grid that can support increased renewables.

The cost of building a renewable future

How do we pay for a power system that no longer uses coal-fired power? The short answer is that consumers’ bills are only headed in one direction.

  • Jennifer Hewett
Commuters use parasols to shield themselves from the sun in Tokyo on Monday.

Japan braces for power crunch amid heatwave

Less than two weeks ahead of an election for the upper house of parliament, surging electrical prices are making life tougher for Japanese customers.

  • Yuka Obayashi and Elaine Lies

Let the market rule the energy capacity mechanism

Including coal and gas is politically tricky, but logically and economically easy. If fossil fuels can’t compete with other energy sources to provide electrons on demand, they won’t be used.

  • Richard Holden

Energy crunch starkly illustrates Origin’s ‘tale of two businesses’

Origin is raking in cash at its Australia Pacific LNG export venture, but its utilities business is a drag amid the ongoing power crisis.

  • Elouise Fowler