Gas

• Europe's gas storage levels have fallen to 69%, which is well below the five-year average heading into winter. • Research from the Bank of Italy published in June indicates that gas-price shocks create more persistent inflation than oil shocks. • This inflation trend may lead the European Central Bank to raise interest rates three or four more times, potentially restricting economic growth and reducing consumer spending.

• The global main cylinder valves market is projected to grow at a compound annual growth rate of 4.5% to 6.5% through 2035. • Growth is primarily driven by semiconductor fabrication plant construction and healthcare infrastructure upgrades in Asia-Pacific, specifically in China, Taiwan, South Korea, and Southeast Asia. • This expansion increases demand for original equipment manufacturers like Cavagna Group S.p.A and Rotarex S.A to co-develop integrated gas systems and provide replacement repair kits.

Firms manage $7.3tn in assets and could afford to transition away from fossil fuels yet invest in natural gas and coal-fired plants to power datacentersThe energy portfolios of 20 private equity firms produce 1.5bn tons of greenhouse gases a year, more than the annual emissions of any country except China, the US, India and Russia, according to a new report.Together, these firms manage $7.3tn in assets of all kinds, affording them the ability to shape the pace of the transition away from fossil fuels. However their energy investments include significant fossil fuel assets including natural gas and coal-fired power plants to provide electricity to datacenters. Continue reading...

Pauline Hanson’s gas policy and the party’s relationship with Rinehart is examined in a new Guardian podcast series, The PopulistListen: The Populist: Aeroplanes and bulldozers | Episode 1 – podcastGet our breaking news email, free app or daily news podcastOne Nation has come under fire for quietly shelving support for a new domestic gas reservation policy in preference for a policy that favours the party’s billionaire patron, Gina Rinehart.The Albanese government has announced it will establish a new reservation policy for Australia’s east coast, requiring gas exporters to supply a portion of the gas they produce to the domestic market. The policy is aimed at “modestly” supplying the domestic market to put downward pressure on prices for consumers.Sign up for Guardian Australia’s Politics, really newsletter here Continue reading...

Batteries now meet almost half of the grid’s dispatchable power needs during hours of highest demand Get our breaking news email, free app or daily news podcastAustralia’s dependence on gas for power during the evening, when the grid is under the most pressure, has fallen by almost nearly 70% over the past year as batteries surged in, replacing the fossil fuel.Gas generation during the busy early evening, between 5pm and 8pm, fell by 67% in the year to August, as large-scale batteries continued to come online and half a million home batteries were installed under the government’s subsidy program, analysis by consultancy EnergyEdge found. Continue reading...

• Saudi Arabia closed its East-West oil pipeline on Friday as a precautionary measure following attacks. • The closure occurred after security threats targeted the infrastructure, though the specific nature of the attacks was not detailed. • This disruption has caused oil and gas prices to rise as markets react to the potential loss of supply.

Greens accuse Labour of hiding position to avoid criticism before contest, in which Zack Polanski is standingA decision on approving the controversial Jackdaw gasfield in the North Sea is to be delayed until later this autumn, with the Greens accusing Labour of hiding their position before the crucial Holborn and St Pancras byelection.Miatta Fahnbulleh, the energy secretary, had been poised to give her recommendation to approve the Jackdaw field off the coast of Aberdeen next week. Continue reading...

• European natural gas prices are holding near multi-year peaks due to ongoing supply risks. • Market volatility coincides with an upcoming interest rate decision from the European Central Bank. • High energy costs increase operational expenses for European industries and affect consumer pricing.

• European natural gas prices remained near multi-year peaks recently due to ongoing supply risks. • Market volatility persists as investors await a policy decision from the European Central Bank. • Sustained high energy costs increase operational expenses for European industries and impact consumer pricing.

• A top Iranian official announced that Tehran will establish an exclusion zone outside the Strait of Hormuz to increase control over tanker traffic. • IAEA Director General Rafael Grossi stated there is currently no engagement with Iran, as the country refuses to cooperate until a broader political agreement is reached. • This move threatens the stability of global oil and gas prices, which are already climbing due to the potential for disrupted shipping in the strategic waterway.

Vice-president’s claim US-Iran conflict is not war draws ridicule from Democrat Ro Khanna. Plus, iconic feminist Gloria Steinem dies aged 92Good morning. The US vice-president, JD Vance, has responded to claims that an American strike was responsible for killing four people, including a child, at a wedding celebration in southern Iran by saying that “sometimes things happen”. The deaths were reported by the Iranian Red Crescent, which operates independently of Tehran and is treated by most international monitors as a credible source on casualty figures.In a further comment, described by the congressman Ro Khanna, a Democrat from California, as “gaslighting”, the vice-president said the conflict between the US and Iran, which has stretched into a seventh month and caused the deaths of 18 US service members, was not presently “a war”. Iranian authorities have put the overall death toll from US and Israeli strikes in the thousands, figures outside observers, including US-based monitoring groups, have broadly corroborated.What did Vance say? At a White House press briefing he said: “I will say that the Iranian state media has not been a very good scribe about what’s happened in the conflict thus far, so I’m extremely skeptical of this. What I can say with 100% confidence is that, unlike the Islamic Revolutionary Guard Corps, the US never targets civilians in combat. We never will do that. We never have done that, and unfortunately, obviously, sometimes things happen”. Donald Trump has repeatedly threatened to blow up Iran’s civilian infrastructure.What is happening with US military leadership? Trump on Thursday named Adam Telle as the acting army secretary after the departure of Daniel Driscoll amid widespread reports of tensions with the defense secretary, Pete Hegseth. Telle is currently the assistant secretary of the army for civil works.What has the House decided about university boycotts of Israel? The House has passed a Republican-backed bill that would penalize universities that participate in boycotts of Israel. “This legislation is about a simple principle: our colleges and universities should not discriminate against Israel,” said Tim Walberg, the Republican chair of the House education committee. Thirty three Democrats broke with the rest of their party to vote in favor. It now goes to the Senate for consideration. Continue reading...

Energy secretary could recommend new North Sea drilling as soon as next week, with Rosebank oilfield likely to followUK politics live – latest updatesBusiness live – latest updatesMinisters are poised to approve a controversial new gasfield in the North Sea later this month, according to government sources, and are also likely to approve a major oilfield later this year.Miatta Fahnbulleh, the energy secretary, will give her recommendation to approve the Jackdaw field off the coast of Aberdeen as soon as next week, according to people close to the decision, with the formal approval following as soon as a week after. Continue reading...

• Luxembourg has successfully secured its gas supplies for the upcoming winter season to ensure energy stability. • In Germany, the AfD party continues to poll strongly ahead of the state elections in Saxony-Anhalt scheduled for this Sunday. • Italy's Brothers of Italy party, led by Giorgia Meloni, will hold a rally in Bari this evening to mark a political milestone and make new announcements.

As one of Europe’s biggest consumers of gas the UK may be particularly exposed to heightened price volatilityEurope is on course to enter the cooler months with gas stores at their lowest level in 13 years, which has triggered “winter panic” among energy traders, experts have warned.The EU’s gas stocks were 63% full in the last week of August, well below the 80% average for late August over recent years and among the lowest levels ever recorded for this time of year. Continue reading...

Critics call move to gain long-term access to country’s massive energy reserves ‘predatory’ and ‘unconstitutional’Reports that the US is preparing to claim a big stake in Venezuela’s massive energy reserves have sparked an outcry, with critics describing the move as “predatory” and “unconstitutional”.Several media outlets this week reported that the Trump administration – which abducted Venezuela’s authoritarian president, Nicolás Maduro, in January and has steered the South American country ever since – hopes to secure long-term access to its oil and gasfields. Continue reading...

As well as being quieter, cheaper to run and easier to clean, induction cookers can cut kitchen temperatures by up to 10CLeaping flames, searing heat, copious sweat and scorchingly inventive swearing – restaurant kitchens are never a place for the faint-hearted, but this summer they have been sweltering in successive heatwaves to a dangerous degree.Some restaurants, cafes and bakeries in the UK grew so hot that they were forced to close, or reduce their hours, for the safety of their staff. There is still no maximum working temperature, despite calls from the TUC, and tens of thousands of kitchen staff are thought to have carried on working in “furnace-like” conditions. Continue reading...

Confidence index drops to 89.4 in August from 90.2 in July amid frustration after five years of elevated inflationAmericans’ confidence in the economy declined again this month as the ongoing conflict in Iran continued to push US gasoline prices above $4 per gallon.The Conference Board said on Tuesday that its consumer confidence index dipped to 89.4 in August from 90.2 in July. That was the lowest level in seven months but was essentially within the same lukewarm range it has been in since the beginning of the year. In late 2024 and early 2025, readings were consistently above 100. Continue reading...

There has been a 76% increase in under-construction gas-fired projects amid ‘frenzy’ to build more datacentersThe US has surged ahead of China in the building of new gas-fired power generation, largely to feed a boom in artificial intelligence (AI) that is adding vast amounts of planet-heating emissions, a new analysis has found.For decades, China’s rapid economic growth has seen it outpace the US in the addition of new gas power generation but a recent “frenzy” in datacenter construction for AI has reversed this, said Global Energy Monitor (Gem) in its new report. Continue reading...

• European gas prices have surged by 120% in 2026, leaving the region highly vulnerable to a costly winter due to low storage levels and supply risks. • While France, Italy, and Spain are responding quickly to these shifts, the Netherlands is experiencing almost immediate price pass-through. • Oxford Economics identifies Italy as the most exposed large European economy because it combines rapid price transmission with a heavy reliance on gas.

Government assessment warns of supply shock that could leave homes and businesses without gas within a decadeGreat Britain risks running out of gas in the 2030s despite its growing clean energy sources, unless ministers take “unprecedented” action to guard against a future gas supply shock, according to an official assessment of the country’s gas security.The government is considering plans to provide direct financial support to safeguard the country’s ageing gas infrastructure after a consultation found that a “high stress scenario” could mean homes and businesses run out of gas within the next decade. Continue reading...

Facility also had no air conditioning for two days amid extreme heat, according to one of the people detainedPeople detained at an overcrowded federal immigration camp in Mississippi were sickened by a mystery gas leak, then denied medical care when they complained of headaches and other symptoms, it has been alleged.A lengthy power outage at Adams county detention center, an Immigration and Customs Enforcement (ICE) facility run by the private operator CoreCivic, also left it without air conditioning for two days this week, according to one detainee who contacted the Guardian through his family. Continue reading...

• The UAE has accused Iran of carrying out attacks on two vessels located in the Strait of Hormuz, escalating tensions in a critical global shipping lane. • Simultaneously, JD Vance stated that securing cheap oil and gas is "goal number one" regarding the objectives of the current war. • In a separate diplomatic effort, U.S. and Saudi officials met to discuss defense cooperation and regional security to reduce instability, though specific outcomes were not disclosed.

Move will be one of first large-scale foreign investments in country since US ousted leader Nicolás Maduro in JanuaryBP has answered Donald Trump’s call for oil companies to help rebuild Venezuela’s fossil fuel industry with new plans to develop a large offshore gasfield.BP will partner with two oil firms with close links to the Trump administration to develop the second phase of the Loran gasfield, in one of the first large-scale foreign investments in Venezuela since the US ousted its leader Nicolás Maduro in January. Continue reading...

• European gas prices have retreated from multi-week highs following a recent surge in energy costs. • The decline is primarily attributed to profit-taking by traders, which has checked the upward momentum of the market. • This shift is significant as it provides a temporary reprieve from the volatility that has driven energy prices higher across Europe.

Prize was eighth largest in Powerball history and followed three months without a top prize winnerA Powerball ticket sold at a gas station in western Illinois was the sole winner of the $1bn jackpot, ending a three-month drought without a top-prize victor.The ticket that won the jackpot on Wednesday night was purchased at a Hy-Vee station in Quincy, about 100 miles (160km) west of the state capital of Springfield along the Missouri border, Illinois Lottery officials said. The winning numbers were 4-26-66-67-69 with the Powerball number of 9. Continue reading...

• The U.S. transportation Consumer Price Index (CPI) rose in July 2026, outpacing the overall national inflation rate. • This increase was primarily driven by rising costs for gasoline and airfares, signaling significant price pressures within the travel sector. • The trend is critical as it indicates that transportation costs are contributing disproportionately to the cost of living for U.S. consumers.

Critics argue US high court justice should recuse himself from upcoming fossil fuel firms’ climate accountability caseSupreme court justice Samuel Alito gained up to $2.9m from his fossil fuel interests between 2005 and 2024, a new review of financial disclosures shows.The analysis from the non-profit advocacy group and judicial watchdog Court Accountability, shared exclusively with the Guardian, found that even at the lowest range of estimates, Alito gained almost $400,000 from his oil and gas interests since being tapped for the high court by George W Bush in 2005. Continue reading...

• On August 10, 2026, a report highlighted the expanding AI footprint across critical infrastructure, specifically focusing on California's cyber defense and Texas's private gas power systems. • The report notes a significant surge in workforce reductions, revealing that layoffs in the current year have already surpassed the total number of job losses from the previous year. • These developments underscore the volatile intersection of rapid AI integration and economic instability within the tech and energy sectors.