Japan's Electricity Prices Surge 25% As LNG And Coal Costs Soar

Europe Faces Summer Jet Fuel Crisis As Iran War Slashes Supply Authored by Tsvetana Paraskova via OilPrice.com, Europe faces an imminent jet fuel crisis as the Iran war and Hormuz disruption cut off key Middle Eastern supplies. Long-term refinery closures and rising import dependence have left Europe highly exposed, with limited alternatives and growing competition from Asia. Airlines are already cutting capacity and warning of higher fares, with potential flight cancellations looming as fuel shortages intensify. Accelerated refinery closures in the past decade and increased dependence on kerosene from the Middle East have exposed...

Kuwait Pounded By Iranian Barrage As Oil And Desalination Plants Come Under Attack Kuwait was bombarded overnight in one of the fiercest Iranian retaliatory strikes since the US-Iran conflict erupted in late February, with missiles and one-way drones targeting power infrastructure and other critical energy assets. Local outlet Kuwait News Agency reports an unspecified site of the Kuwait Petroleum Corporation suffered "significant material losses" as the week-long flare-up in Gulf tensions has derailed any near-term normalization of tanker flows through the Strait of Hormuz. There was a report that the Al-Subiya power...

Uber Introduces $1,500 Monthly Cap On AI Coding Tools After Budget Blowout Uber has set a $1,500 monthly cap on employee spending for specific AI coding tools after the company exhausted its entire 2026 budget for those tools in the first four months of the year. The limits apply to agentic coding platforms such as Anthropic’s Claude Code and Cursor, according to Stocktwits. Prior to the caps, some engineers were generating monthly bills between $500 and $2,000 in token consumption as adoption of the tools surged following their rollout in late 2025. In...