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Good Morning. Welcome to today’s edition of EnergyBrew, your trusted source for timely and impactful updates across oil, gas, renewables, policy, and power markets.

📈 MARKET SNAPSHOT

• 🔴 WTI Crude: $57.14/barrel (↓ 2.5%)

• 🔴 Brent Crude: $60.15/barrel (↓ 2.3%)

• 🟢 Natural Gas (Henry Hub): $2.15/MMBtu (↑ 3.0%)

• 🔴 LNG (JKM – Asia Spot): $9.30/MMBtu (↓ 0.8%)

• 🟢 ERCOT Electricity: $32.10/MWh (↑ 4.4%)

• 🔴 U.S. Rig Count: 610 (↓ 3)

🛢️ OIL & GAS
Oil Prices Rebound Amid OPEC+ Output Hike

After a significant drop to four-year lows, oil prices have rebounded by over 2% due to technical factors and bargain hunting. Brent crude futures rose to $61.50 per barrel, while U.S. West Texas Intermediate (WTI) crude increased to $58.30 per barrel.

The initial decline was triggered by OPEC+'s decision to expedite output hikes, raising concerns about oversupply in the market. However, the recent rebound suggests that investors are capitalizing on lower prices, although oversupply worries persist.

🌿 GREEN ENERGY
States Sue Trump Administration Over Wind Energy Restrictions

A coalition of 17 states and Washington, D.C., has filed a lawsuit against the Trump administration's executive order halting approvals for wind energy projects. The states argue that the order unlawfully impedes clean energy development and economic growth.

The lawsuit seeks to declare the order unlawful and prevent its enforcement, emphasizing potential losses in jobs and investments, as well as the disruption it causes to clean energy transitions.

🏛️ POLICY & REGULATION
EU Power Grid Requires Trillion-Dollar Upgrade

The European Union's aging power grid and insufficient energy storage capacity necessitate trillions of dollars in investments to prevent blackouts similar to the recent one in Spain. The European Commission emphasizes the urgent need for infrastructure upgrades to ensure energy reliability.

The proposed upgrades aim to enhance grid resilience, integrate renewable energy sources, and support the EU's climate goals by modernizing the electricity infrastructure.

🔋 ENERGY STORAGE
Vattenfall Enters Multi-Site Virtual BESS Tolling Deal in Germany

Vattenfall has signed a seven-year, 55 MW multi-project Battery Energy Storage System (BESS) tolling agreement in Germany with Terralayr. This deal represents an industry-first approach to virtual energy storage solutions.

The agreement encompasses capacity from eight Terralayr storage facilities, enabling more flexible and efficient energy storage management across the country.