The International Energy Agency released a series of steps on Friday that would ease the burden of the global oil price spike. Recognising 45 per cent of the world's oil demand comes from road transport, the agency urged workers to stay at home where possible and consider public transport if they need to travel.
Artificial intelligence data centres are set to devour a massive share of the world's electricity growth over the next decade, according to BP's latest World Energy Outlook. The oil giant estimates that data facilities powering AI applications will account for 10% of global electricity demand growth by 2035. In the United States, the world's most advanced AI hub, that figure could skyrocket to 40%, raising urgent questions about the strain on energy systems.
Crude oil futures are struggling to move above $67 due to mixed signals in the market, reflecting strong refinery activity and inventory issues.