Tesla has reportedly broken ground on a new 700 megawatt hour Megapack battery storage facility in Belgium, marking another step in the company’s global expansion of large scale energy storage infrastructure.

S&P Global Energy has reduced its global oil demand forecast for 2026 by 700,000 barrels per day, as the U.S.–Iran war disrupts energy supplies from the Middle East and weakens demand in the second quarter, consultant Ethan Ng said on Thursday.

Global oil demand is projected to decline by 80,000 barrels per day (80 kb/d) on average in 2026, reversing earlier expectations of 730 kb/d growth, as the Iran conflict disrupts global energy markets, the International Energy Agency (IEA) said on Tuesday.

SoftBank Group Corp. is advancing plans to build a massive AI-focused data center complex in Ohio, with Chief Executive Officer Masayoshi Son saying the project could channel up to $500 billion into a single campus.

Global oil demand is projected to increase by 849,000 barrels per day (bpd) in 2026, according to the latest report from the International Energy Agency (IEA).

Global coal demand is expected to gradually decline toward the end of this decade as competition intensifies from other power sources, including renewables, natural gas and nuclear energy, according to the International Energy Agency’s (IEA) 2025 annual coal market report.

Oil prices retreated as traders expressed concerns over the potential impact of the US-led trade war on global energy demand.

Rising demand for clean energy technologies to fight climate change is shaping the future with investments in critical minerals, whose demand is set to triple by 2040, according to the International Energy Agency’s Global Critical Minerals Outlook report.

Oil prices declined as concerns grew that the Trump administration's upcoming tariff measures could reduce global energy demand.