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Oil fell to its lowest in almost three weeks, with technical indicators driving the market’s direction amid a lack of clarity on crude demand.  While China’s reopening spurred a rally in crude in recent weeks, the market has struggled to hold those levels as prices test their 50-day and 100-day moving averages. That’s prompting commodity
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Bulls approached and quickly withdrew from oil’s 100-day moving average, driving crude to its first weekly loss since the start of the year.  West Texas Intermediate shed 2% this week with much of that retreat occurring on Friday. Throughout the week, oil rallied on optimism driven by China’s gathering rebound only to swing as risk-off
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By Joey Klender Posted on January 27, 2023 Tesla CEO Elon Musk met with Senior Advisor to President Joe Biden, John Podesta and Senior Advisor Mitch Landrieu on Friday in Washington to discuss electric vehicle adoption and progress in the United States. A Senior White House spokesperson said Podesta and Landrieu met with Musk to discuss
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Swedish wind turbine maker SeaTwirl got the go-ahead to test its 1 megawatt (MW) S2X vertical-axis floating offshore prototype in Norway. Vertical-axis floating wind turbine pilot In March 2022, Norway’s Ministry of Energy gave approval to SeaTwirl and Norwegian offshore wind test center Marine Energy Test Centre to pilot the vertical-axis floating wind prototype for
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U.S. President Joe Biden has previously singled out Exxon Mobil for making “more money than God” last year. Brandon Bell | Getty Images Some of the world’s largest oil and gas companies are poised to report record annual profits, raking in extraordinary revenues following a year of volatile fossil fuel prices amid Russia’s onslaught in
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Oil gained as energy traders grew more confident about the commodity’s immediate outlook. Global benchmark Brent flipped from contango into a backwardated structure with the March contract surpassing April’s. The flip to oil being more expensive in the near-term signals that traders see demand outpacing supply. The spread was in contango for most of January.
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By Johnna Crider Posted on January 26, 2023 SpaceX quietly rolled out a new feature for Starlink, its low-latency, high-speed satellite internet service that will allow users to set a “sleep schedule” to conserve energy. In a screenshot shared to Reddit by u/FateEx1994, the new feature will allow Starlink users to conserve their power by
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Oil edged higher in a volatile session as technical market indicators signaled to traders that higher prices may be around the corner.  West Texas Intermediate managed to hold above $80 a barrel on Wednesday after swinging through much of the session. Rising US crude inventories and so far lackluster corporate earnings kept gains in check
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By Johnna Crider Posted on January 25, 2023 Tesla Cybertruck limited production is set to begin this Summer, CEO Elon Musk said during the company’s Q4 2022 Earnings Call on Wednesday evening. During Tesla’s Q4 and Full Year 2022 Earnings Call, Musk and Co. were asked whether the all-electric Cybertruck was still slated for production
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Electric hydrofoil veteran Lift Foils continues to showcase innovation that helped form an entirely new marine segment with its latest product launch – an upgraded version of the LIFT3 F which initially debuted last year. This revamped eFoil features two new color options, a redesigned aluminum mast, and a reinforced propeller featuring standard pitch, ideal
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