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Iran has begun dialing back oil output as onshore storage nears capacity, with sanctions and a naval blockade constraining shipments. Analysts warn that shutdowns could be irreversible for some wells, while global fuel prices are likely to rise as a result. Tehran is weighing how long to sustain pumping before a forced halt becomes unavoidable.
Solar power has for May provided more electricity than coal for the first time, reaching 12.8% vs 12.2% and signaling a lasting shift toward renewables amid policy headwinds. Emitted by Ember, SEIA and Wood Mackenzie, the data show solar remains the leading source for new power as coal declines. Trump’s plan to bolster coal faces industry pushback.
The Strait of Hormuz remains a focal point as multiple sources indicate shifting dynamics in Gulf oil flows. Analysts say international pressure, sanctions, and ongoing fighting shape when and how Gulf oil will move, with some shipments reappearing while overall volumes stay depressed. The pace of mine clearance, lane re-opening, and fleet re-mobilization will determine when prewar flows resume.
A tentative deal has reopened the Strait of Hormuz and allowed some vessels to leave the Persian Gulf, but global oil flows have not returned to normal. Producers and shipowners have cut output and delayed shipments; tankers stranded in the Gulf and shut-in fields will take weeks to months to restart full exports, keeping pressure on prices and inventories through summer.
Solar generation has surpassed coal in the US grid, led by rooftop and utility-scale projects, signaling a growing dominance of renewables. The Energy Information Administration data show renewables outpacing coal in total power delivery, with solar near the gap but not yet yearly total. The trend continues as demand climbs and permitting hurdles persist.