Red Sea
Despite Red Sea disruptions, April 2024 energy price cap forecasts show £40 annual decrease since December
The IEA’s oil outlook projects a record-high global supply of 103.5 million barrels per day, driven by increased production from the US, Brazil, Guyana and Canada
Chris O’Shea, Centrica CEO, discussed the energy price cap in an interview, indicating that if reset today, prices would decrease by over £200 for the typical household
Octopus Energy’s Chief Executive Officer Greg Jackson predicted that the forthcoming energy price cap would be significantly lower than current levels, attributed to providers prepaying for gas
Consultants suggest businesses rethink how they use energy due to conflicts in the Red Sea, recommending ways to save money and deal with uncertainties
Experts caution against potential global impacts on energy markets due to escalating tensions in Yemen, citing a temporary surge in oil prices and disruptions to trade routes
Tesla Giga Berlin has announced a temporary production pause from 29th January to 11th February, attributing the decision to the ongoing conflict in the Red Sea
Experts have expressed concerns that ongoing attacks on shipping in the Red Sea could further shrink the UK economy and lead to another energy crisis
The ship in question holds four times the amount of oil carried by the Exxon Valdez, which caused one of the worst environmental disasters in US history when it spilled in 1989
An oil terminal is allegedly releasing wastewater into the Red Sea