Energy

Core Summary New York Governor Kathy Hochul has signed an executive order pausing the construction of new hyperscale data centers for up to 12 months, making New York the first US state to impose such a moratorium. The move aims to assess the impact of large data centers on energy supply, the environment, and local communities, sparking intense debate between the tech industry and environmental advocates. Details Under the executive order, New York State will halt approvals for new hyperscale data center projects for up to 12 months. Expansions of existing facilities may also be affected. The decision directly responds to surging electricity demand from the rapid proliferation of data center projects in upstate New York. ...

Oil prices have returned to pre-conflict levels for the first time in four months, as the Brent crude erased its war premium and shipping flows through the Strait of Hormuz show signs of recovery. Editor: GoodInfo Global News Team

US Waives Iran Oil Sanctions as Peace Deal Brings Major Policy Shift The United States announced on June 22 a waiver of oil sanctions on Iran, marking one of the most significant policy shifts following the recent peace agreement between the two nations. The move signals a dramatic departure from Washington’s maximum pressure strategy and is expected to substantially increase global crude oil supply. According to Yahoo Finance, the Treasury Department’s Office of Foreign Assets Control (OFAC) has issued licenses permitting specific entities to purchase and transport Iranian crude oil. This represents the first major concession on energy sanctions since the conflict escalated in early 2026. ...

Venezuela has signed a deal with General Electric to help rebuild its aging power grid, the latest cooperation agreement between US firms and Venezuela’s interim government.

Asian and European stock markets declined broadly, with the technology sector extending previous losses. Middle East geopolitical tensions drove international oil prices significantly higher, as marketrisk-aversion sentiment intensified. Event Details Asian and European stock markets fell broadly on Wednesday, with technology shares extending a recent selloff. Geopolitical tensions in the Middle East pushed oil prices higher, with Brent crude surging to multi-month highs. The combination of tech sector weakness and energy price spikes triggered a flight to safety among investors, driving down equity indices across major markets. ...

US Central Command announced the completion of a second round of precision military strikes on Iranian targets, including multiple military facilities. Iran’s Revolutionary Guard subsequently claimed to have counter-attacked a US military base in Bahrain. This ongoing military confrontation is profoundly impacting global geopolitical dynamics and energy markets. Event Details US Central Command stated that its latest round of strikes were in response to what it described as unwarranted and continued aggression from Iran. The strikes targeted multiple military installations across Iranian territory. In response, Iranian forces claimed to have launched counter-strikes against a US military base in Bahrain. The escalation represents a significant intensification of the ongoing US-Iran military confrontation, with both sides vowing to defend their interests. ...

NextEra Energy to Buy Dominion in AI Data Center Power Race NextEra Energy, America’s largest renewable energy company, has announced the acquisition of Dominion Energy, according to Bloomberg. The deal unites two key players in the race to power AI data centers. With the rapid expansion of AI, data center power demand has grown explosively. Both NextEra and Dominion hold significant positions in the US energy market, and their merger would create a comprehensive energy giant spanning renewable and traditional power generation. ...

US Inflation Jumps to 3.8% as Energy Costs Surge from Iran War US inflation has risen to 3.8%, driven by surging energy costs linked to the Iran conflict, according to BBC. The figure exceeded market expectations and adds fresh pressure on Federal Reserve monetary policy debates. Energy price increases are weighing on both consumer spending and business costs.

Saudi Aramco has reported a 26% year-over-year jump in first-quarter 2026 profits, far exceeding market expectations amid the escalating Middle East conflict. AP News reports that the key driver of Aramco’s profit surge is its successful pivot from the Strait of Hormuz to the East-West Pipeline. The pipeline has been ramped up to full capacity, enabling Saudi Arabia to continue exporting crude to global markets despite the strait closure. CNBC notes that Aramco’s CEO emphasized the company’s ability to navigate the current geopolitical situation and the effectiveness of its diversified export strategy. The performance underscores Saudi Arabia’s pivotal position in the global energy market. ...

Scientists have developed a new energy storage method inspired by the biological mechanism of sunburn. This interdisciplinary innovation could provide new approaches for renewable energy storage.