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Uncertainty over US-Iran negotiations: Oil price rises sharply
Oil prices continue to climb unabated amid uncertainty regarding the progress of negotiations between the US and Iran on ending the war. By midday Monday, a barrel (159 liters) of North Sea Brent crude had risen 4.1 percent to $108.65. US West Texas Intermediate (WTI) stood at $96.31 per barrel—an increase of 4.2 percent. At…
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Heating costs to rise significantly in 2026 – heating oil to become up to 28 percent more expensive
Heating costs for German households will vary significantly in 2026, according to the new nationwide heating cost report. Heating oil will become particularly expensive; for an average single-family home, costs are projected to rise by 28 percent compared to 2025. The primary drivers are sharply higher oil prices resulting from the war involving Iran and…
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Grimm warns against phasing out gas: Germany will need natural gas for decades to come
Economic expert Veronika Grimm warns Germany against a premature phase-out of natural gas. In her assessment, natural gas will continue to be needed for industry, heating, and reliable power generation for decades to come. At the same time, the development of a hydrogen economy is progressing more slowly than long assumed. Furthermore, German gas storage…
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IG Metall demands a five percent wage increase – employers warn of further job cuts
Frankfurt – On September 23, IG Metall finalized its demands for the 2026 collective bargaining round. The union is seeking a five percent pay increase for approximately 3.7 million workers, with the agreement to run for twelve months. Additionally, the union is calling for a social component, profit-sharing at profitable companies, and guarantees regarding jobs…
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Grid operators are permitted to throttle wallboxes during power shortages
Since Wednesday, misleading claims regarding the charging of electric cars in Germany have once again been circulating on social media. Several posts allege that private charging for long-distance travel will soon no longer be possible or will be restricted to “three hours for 50 kilometers.” However, no such limit on mileage or energy volume exists.…
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Macron presents Trump with proposals to curb oil prices
French President Emmanuel Macron has presented US President Donald Trump with several proposals to curb the rise in oil prices that is paralyzing the global economy. According to diplomatic sources, the meeting in New York on Monday focused on a UN resolution regarding the Strait of Hormuz and the security of Saudi Arabian energy facilities.…
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Saudi Arabia cuts oil shipments to Europe – fuel prices likely to rise further
Riyadh – Saudi Aramco is apparently cutting contractual oil supplies to Europe in October. At least two European refinery customers have already received a zero allocation for the coming month. According to Bloomberg, however, the decision affects all European contract customers. The move was triggered by the major drone attack on the Saudi East-West Pipeline…
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Economic upturn: Merz sees signs of hope – but industry continues to cut jobs
A commentary by our author Klaus Bastian: Chancellor Friedrich Merz sees “initial signs of hope” for an economic upturn, pointing to rising real wages, improved sentiment, and numerous new start-ups. At the same time, however, unemployment is rising as the industrial sector cuts tens of thousands of jobs, closes plants, and shifts production abroad. Furthermore,…
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US power grid under heavy strain: Department of Energy issues emergency order
Washington – An exceptionally strained operating situation arose on September 17, 2026, within the US power grid managed by the regional grid operator PJM Interconnection. PJM coordinates the electricity supply for approximately 67 million people across parts of 13 states and Washington, D.C. Unusually hot September weather coincided with scheduled transmission line maintenance and the…
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Volksbank Braunschweig-Wolfsburg posts €608 million loss: Now the dominoes are toppling
Braunschweig/Wolfsburg – Two developments are currently converging at Volksbank BraWo (short for Volksbank Braunschweig-Wolfsburg). The bank is reporting a preliminary loss of €608.1 million for 2025 following significant write-downs. Real estate accounts for around 80 percent of these impairments, while the cooperative network is providing support totaling up to €720 million. At the same time,…
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Sources: France considering participation in securing Saudi energy infrastructure
According to diplomatic sources, France is considering participating in the protection of energy infrastructure in Saudi Arabia that has been targeted by the pro-Iranian Houthis. French diplomatic sources stated on Monday (local time) that France stands “ready to contribute—within the framework of a purely defensive approach—to securing Saudi energy infrastructure in Yanbu and along the…
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Power shortage in the Carolinas: Duke Energy calls for conservation and activates emergency reserves
On September 18, Duke Energy responded to a looming power shortage in North and South Carolina. Consumption surged due to extreme heat, with the utility anticipating a peak load of approximately 20,102 megawatts for the afternoon. Consequently, millions of customers were asked to reduce their electricity usage between 2:00 p.m. and 8:00 p.m. At the…
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Another battery fire in Moss Landing: Vistra fails to fully get fire risk under control
On September 18, 2026, another fire broke out at Vistra’s battery storage facility in Moss Landing, California. The battery fire began around 6:15 a.m. in the “Moss 300” building, which had already sustained severe damage in 2025. According to Vistra, approximately 1,200 charged battery modules ignited. As a result, residents within a radius of about…
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Job cuts at RTL: Another 500 full-time positions to go following Sky acquisition
Cologne and Unterföhring – Job cuts at RTL are entering the next phase following the acquisition of Sky Deutschland. Around 500 full-time equivalent positions are set to be eliminated by the end of 2027, with the group planning to cut the majority of these roles as early as 2026. The move aims to eliminate redundant…
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Commissioning of LNG terminal in Stade in preparation
Preparations are underway to launch Germany’s fourth state-managed liquefied natural gas (LNG) import terminal following a long delay. The state-owned operator, Deutsche Energy Terminal (DET), announced on Wednesday that the terminal vessel Energos Force had docked at the Stade-Bützfleth industrial port on Tuesday. Because the facility’s launch had been delayed, the vessel had been chartered…