The Big Picture
Energy markets opened with clear signs of demand resilience, and major producers are reaping the benefits. Shell reported a stellar quarter, and physical markets are showing life from coal to LNG, supporting higher prices and tighter fundamentals.
That momentum arrives alongside continued investment in renewables and a bounce in electric vehicle adoption, so you face a market where traditional fuels and clean energy are both sending bullish signals. How durable is this rally, and what should you watch today?
Market Highlights
Here are the quick facts you need this morning. Read these to get a sense of where price and project activity are moving.
- Shell $SHEL reported adjusted Q2 earnings of $9.84 billion, up from $4.26 billion a year earlier, a roughly 131% year on year increase and above analyst views of about $8.8 to $8.9 billion.
- China's benchmark spot coal at Qinhuangdao has reversed an earlier slump as scorching heat lifts power demand, and industry groups say thermal coal prices look set to rise into the seasonal peak.
- Qatar successfully sent an LNG cargo through the Strait of Hormuz after recent attacks, and shipping across Hormuz has picked up with U.S. navy escorts reported, a sign that flows are resuming despite regional tensions.
- Policy and project activity continue: Uruguay plans 500 MW of new renewables by Feb 2030, while Bangladesh opened a tender for a 220 MW solar project with bids due Sept 15.
- EV momentum remains strong, with the IEA tracking a 35% jump in global EV sales in Q2 and quarterly records set in 50 countries, supporting longer term power and grid demand.