China’s first shipment of crude from Niger has been blocked by a border dispute between the landlocked West African nation and its southern neighbor bloomberg.com/news/articles/… via Bloomberg Politics

We have decided not to progress work on a hydrogen town pilot until after 2026 decisions on the role of hydrogen for heating.
Heat pumps and heat networks will be the main route to cutting household emissions for the foreseeable future. gov.uk/government/pub…

If miner BHP won't change the fussy structure of its proposed Anglo American bid, it'll have to dangle a really high price, says Chris Hughes trib.al/6PCZGCL

Climate change is an existential threat — until the very moment when fighting it quickly and cheaply threatens unionised jobs in America (or Europe, for that matter).

ENERGY TRANSITION: Renewables reached 30% of global power generation in 2023 -- an all-time high --, but fossil fuels still dominated, according to last annual review by Ember | Full report: ember-climate.org/insights/resea… #EnergyTransition

Read the news story here:

World’s top climate scientists expect global heating to blast past 1.5C target

- Planet is headed for at least 2.5C of heating with disastrous results for humanity, poll of hundreds of IPCC scientists finds

4/n

theguardian.com/environment/ar…

CHART OF THE DAY: The market is broken. Cocoa continues to witness incredible one-day price swings.

Last week, prices at one point plunged >15% in a day. Yesterday, prices surged >13% also in one day. Both were the largest swings (to the downside and upside) in 65 years.

The $20 billion hedge fund Balyasny Asset Management is opening shop in Denmark with a unit to trade physical gas and electricity.

It’s another sign of the rise of the “Danish” commodity traders, which I chronicled in this @Opinion long-read in January: bloomberg.com/opinion/featur…

Journalism in 2024, a story (in a 🧵) about chutzpah.

Nine months ago, I wrote a story about what I called the Great Sweetwater Blade Boneyard. It was about a company that promised it would recycle wind turbine blades, but … didn’t.

texasmonthly.com/news-politics/…

Today, the U.S. Department of Energy’s (DOE) Office of Petroleum Reserves announced a solicitation for up to 3.3 million barrels of oil for delivery to the Strategic Petroleum Reserve (SPR) in October.
#oott
energy.gov/ceser/articles…

US is having 'frank and candid' conversations with Malaysia about Iranian oil ship-to-ship transfers | #OOTT #Iran #Malaysia

api.nst.com.my/news/nation/20…

CHART OF THE DAY: Robusta coffee prices have surged to a 45-year high. The culprit? Bad weather in top producer Vietnam.

Left unsaid, however, is a notable development that’s reshaping the market: China is developing a strong taste for coffee.

bloomberg.com/opinion/articl…

@Opinion

#Russia : Deputy Prime Minister Alexander Novak said on Tuesday that the OPEC+ group of leading oil producers had already agreed to act on oil production if necessary, the Interfax news agency reported.
He also said there was no need to predict further OPEC+ action while the…

ED&F Man, the 240-year-old commodity trader that once supplied a daily tot of rum to every sailor in the Royal Navy, is in talks to be bought by Hartree

Isis Almeida

bloomberg.com/news/articles/…

BP CEO asked whether he’s too thinking about relocating the primary listing from Europe to New York: “This is not in our agenda.' | #OOTT $BP

The CEO of TotalEnergies has plenty of reasons to antagonize the French government with the possibility of moving its stock listing to Wall Street trib.al/34fFTXi

COLUMN: Robusta coffee prices have surged to a 45-year high. The culprit? Bad weather in top producer Vietnam.

Left unsaid, however, is a notable development that’s reshaping the market: China is developing a strong taste for coffee.

@Opinion #coffee
bloomberg.com/opinion/articl…

BIG OIL 1Q EARNINGS SEASON: BP misses street forecast, reporting adj net profit of $2.72bn (down from a year ago of $4.96bn).

Weak cash flow means BP took on debt to fund capex, dividend and buybacks. Still, BP reconfirms another $1.75bn in buybacks in 2Q | #OOTT $BP