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 by AFP Staff Writers Hong Kong (AFP) Jan 18, 2022
Brent crude prices hit their highest level in more than seven years on Tuesday on growing demand optimism, easing concerns about the Omicron Covid variant and geopolitical tensions. The contract hit $86.84 in Asian trade, a level not seen since late October 2014. Brent and West Texas Intermediate have climbed more than 10 percent so far this year as investors become increasingly confident that the demand will increase as the world slowly returns to normal and economies reopen. The latest bump comes after Yemen's Huthi rebels claimed attacks in Abu Dhabi that triggered a fuel tank blast killing three people Monday, adding that civilians and foreign firms in the United Arab Emirates should avoid "vital installations". The news fuelled concerns about supplies from the crude-rich region.
Load up the hydrogen but hold the carbon Kyoto, Japan (SPX) Jan 14, 2022 In the global race to curb climate change and reduce carbon emissions, hydrogen is considered a serious contender to replace fossil fuels. Although hydrogen 'burns' cleanly, with only water as a by-product, the current way of making hydrogen a reliable fuel alternative is energy- and carbon-intensive. Whether water is split with electricity or hydrogen is released from fossil fuels or other hydrocarbon sources, every step forward in making hydrogen is accompanied by at least two steps back in term ... read more
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