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The week in Global Energy & Infrastructure
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Initial US-Iran agreements reduced disruption risk, lowered prices, and encouraged some vessels to return, but traffic remained inconsistent. Iran renewed its closure threat and added an insurance requirement, leaving the route operationally unreliable despite talks and reopening plans.
China's crude buying fell as Persian Gulf shipments nearly stopped, while Asian refiners faced weak demand and nearly 80 million barrels awaiting transit. Iraq ordered a production recovery, adding potential supply just as oil prices fell below $80 on reopening expectations.
Rapid data-center growth forced utilities and regulators to reconsider generation, transmission, interconnection, and cost allocation. A federal warning sharpened the issue, saying the US grid cannot absorb the demand without major intervention.
The administration paid $765 million to unwind four offshore-wind projects and redirected investment toward natural gas and geothermal power. The settlements reduce offshore-wind deployment while supporting other generation sources.
Qatar began moving LNG vessels back toward the region and accelerating empty-carrier returns to restore exports after Hormuz-related disruption. An explosion at Ras Laffan added a fresh operational setback as the recovery proceeded.
California's utility-scale solar generation surpassed gas during the first five months of 2026 as solar output rose and gas generation fell about 60% from 2024. Higher electricity imports reinforced the shift in the regional power mix.
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