Day: December 18, 2024

Iran key services shut as rial plunges amid energy crisis, regional tension

Energy News Beat   Tehran, Iran – Tens of millions of people across Iran are facing major disruptions as authorities shut down services in the face of an exacerbating energy and currency crisis amid historic regional tensions. This week, government offices, schools, banks and businesses in major provinces and in the capital Tehran have been largely […]

Fed Cuts by 25 Basis Points, to 4.25%-4.50%, Sees Only 2 Cuts in 2025, Sees Higher Inflation, Higher “Longer-Run” Rates. QT Continues

Energy News Beat Energetic backpedal from the aggressive monster-rate-cut trajectory envisioned by the markets three months ago. By Wolf Richter for WOLF STREET. The FOMC voted today to cut the Fed’s five policy rates by 25 basis points, with 1 participant dissenting, (Cleveland Fed president Beth Hammack who preferred no cut). And participants see only two cuts in […]

Russia continues to ship oil directly to the EU despite sanctions, investigation finds

Energy News Beat An investigation by Ukrainska Pravda (UP) has found that Russian oil continues to flow into the EU despite sanctions, with shipments under the flags of Liberia and Panama reaching the ports of Romania and Bulgaria, both EU and NATO members. Nearly three years on from Russia’s full-scale invasion of Ukraine, Western sanctions designed to […]

Scottish Renewables want interconnector reform

Energy News Beat Scottish Renewables say there is a critical role for interconnectors in achieving the UK’s net-zero ambitions but reforms are needed. They have produced a report which identifies opportunities to optimise interconnector benefits and challenges current policies focused narrowly on locational wholesale pricing. Electricity interconnectors—high-voltage cables connecting the UK to neighbouring countries—allow clean […]

Who Lost More Weapons—Russia in Syria or America in Afghanistan?

Energy News Beat After the collapse of their client states, both patrons left behind a trove of military equipment. Jubilant rebels bloodlessly entering the capital, a president in flight, a stunned foreign patron negotiating the evacuation of its forces—this month’s collapse of Syria has more than a few parallels with that of Afghanistan three years […]