With more and more shipping companies extending full or partial closures of Red Sea shipping routes due to attacks by Yemeni rebels, global trade could be seriously affected. As Statista's Katharina Buchholz details below, according to a new analysis based on 2019 data published in academic journal Communications in Transportation Research, 22-23 percent of maritime-traded goods between non-neighboring countries pass through the Red Sea, more specifically its chokepoints Bab-el-Mandeb and the Suez Canal. Читать дальше...
Researchers led by Genki Kobayashi at the RIKEN Cluster for Pioneering Research in Japan have developed a solid electrolyte for transporting hydride ions (H−) at room temperature. Its a breakthrough that means the advantages of hydrogen-based solid-state batteries and fuel cells are within practical reach, including improved safety, efficiency, and energy density, which are essential for advancing towards a practical hydrogen-based energy economy. The study paper was published in the scientific journal Advanced Energy Materials. Читать дальше...
Houthi rebel disruptions reaching the Straits of Hormuz could double oil prices, Goldman Sachs has warned. In an interview given to American television station CNBC yesterday, head of the company’s oil research division Daan Struyven said: “the Red Sea is a transit route and a prolonged disruption there, oil can be three or four dollars higher. “However if you have a disruption in the Strait of Hormuz for a month, [oil] prices would rise by 20 per cent and could even eventually double if the disruption... Читать дальше...
Retail gasoline prices in the United States continued to fall on Friday, landing at $3.088 per gallon, according to the latest AAA data. This is down from yesterday’s average of $3.090 per gallon, and down from a week ago’s $3.120. Meanwhile, WTI crude is trading up week over week, exchanging hands at $73.64 per barrel on Friday, compared to $71.65 a week ago today. Earlier this week, API and EIA data both showed a massive increase in stockpiles in the United States for gasoline and distillates. Читать дальше...
GAIL (India) has signed a long-term LNG deal with Vitol, under which the top commodity trader will supply around 1 million metric tons of LNG annually for 10 years starting in 2026, the Indian state-held firm said on Friday. As part of the deal, Vitol will deliver LNG from its global LNG portfolio to GAIL in India. GAIL owns and operates a network of over 16,000 kilometers (9,942 miles) of natural gas pipelines in India and works on multiple pipeline projects to further enhance the gas supply and coverage. Читать дальше...
Just as EV demand appeared to be nearing super-saturation, incentives for buying electric vehicles are starting to fall by the wayside. There are now just 13 EV models that are eligible for a consumer tax credit of as much as $7,500 thanks to new Biden administration rules that took effect on January 1, according to Bloomberg. Previously, the number had stood closer to 24 models, but for the new year the tax credit excludes vehicles that use battery components manufactured by Chinese companies, the report says. Читать дальше...
A surge in fuel oil exports pushed Russia’s refined petroleum product shipments in the four weeks to December 31 to the highest level in eight months, data from Vortexa compiled by Bloomberg showed on Friday. Russian oil product exports averaged nearly 2.7 million barrels per day (bpd) in the four weeks to December 31, up by 6% compared to the four-week average for the week to December 24, according to the data. In the week to December 24, the four-week average exports of fuels out of Russia... Читать дальше...
