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Energy shortages continue to ravage the globe
Oil prices peak as countries deplete their energy stores
Oil peaked at its highest price in years on Monday, and as coal and gas prices soar countries are resorting to switching off their power.
Scarcity of these commodities has been triggered by the fall in U.S. gas production last year as well as the covid-19 recession.
Market Strategist Daniel Weiner says that the shortage is triggered by “[countries] trying to cut down on coal” as well as the “PPP not creating sure access to a gas supplier that would stabilise prices”.
Coal supply shortages and looming emission targets in China have grounded many factories.
Meanwhile, in Europe, with gas and power prices steadily growing some governments have taken to combatting prices.
Spain cut taxes to lower gas bills in June but has since reverted the move, blaming lost revenue and the continuing gas price boom.
ANZ bank analysts predict the gradual easing of restrictions across the globe will help recover fuel consumption, along with the the construction of additional oil and natural gas rigs in the U.S.
White House Press Secretary says President Biden is reviewing options to address the energy crisis.
“Some of the issue here is the supply as a result of the pandemic, there’s a gas shortage around the world hence the need for the United States to continue to export natural gas,” she says.
Depleted energy and ongoing maintenance are some of the biggest contributors to the price surge.
While it may be a while before the world’s oil and gas stores recover, all eyes will be on the COP26 climate change conference to see if world leaders are planning to shift away from commodities like coal to greener energy.
Satellite images reveal that Iran has buried all three tunnel entrances at its Isfahan nuclear complex. Analysts say the move mirrors defensive preparations taken before U.S. airstrikes devastated the facility last year, with no vehicle or personnel activity visible around the entrances.
The burial appears aimed at limiting damage from potential airstrikes and complicating any ground raid targeting enriched uranium stored in the underground facility. Experts suggest equipment or materials may have been moved into the tunnels for protection, though this remains unconfirmed.
The fortification comes amid ongoing U.S.-Iran tensions. President Trump has demanded Iran curb its nuclear program, warning of military action, while Tehran insists halting uranium enrichment is unacceptable. Recent indirect talks in Oman showed little progress toward a new deal.
News
Armed figure seen on CCTV as search intensifies for Savannah Guthries mother
CCTV shows armed figure near Nancy Guthrie’s home as search for the missing 84-year-old mother continues into week two.
CCTV shows an armed figure near Nancy Guthrie’s home as the search for the missing 84-year-old mother continues into week two.
New CCTV footage has been released as police intensify the search for Nancy Guthrie, the mother of US Today show presenter Savannah Guthrie, who vanished in Tucson, Arizona.
The 84-year-old disappeared after returning home on January 31, with authorities now believing she may have been kidnapped during the early hours of February 1.
Investigators say the case has entered a critical phase as public attention grows around the alarming circumstances of her disappearance.
#BreakingNews #USNews #MissingPerson #TrueCrime #SavannahGuthrie #CCTVFootage #CrimeWatch #TickerNews
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Trump hints at military pressure as U.S. and Iran resume nuclear talks
US-Iran restart nuclear talks in Oman amid cautious optimism, while Trump considers military escalation and Israel demands stricter missile terms.
US-Iran restart nuclear talks in Oman amid cautious optimism, while Trump considers military escalation and Israel demands stricter missile terms.
The United States and Iran have returned to the negotiating table in Oman, marking a fresh attempt to ease escalating nuclear tensions between the two long-time rivals. President Donald Trump described the talks as promising, suggesting momentum toward further discussions.
Iran’s Foreign Minister echoed cautious optimism, calling the meetings a positive first step while acknowledging deep-seated trust issues remain unresolved. At the heart of the talks is a major sticking point — the White House’s insistence that Iran dismantle its nuclear capability entirely.
Iran, however, maintains it has a sovereign right to enrich uranium, setting the stage for difficult negotiations ahead as both sides test whether diplomacy can hold.
#USIran #NuclearTalks #MiddleEastPolitics #Trump #IranNuclear #GlobalDiplomacy #WorldNews #TickerNews
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