Bloomberg Global oil supply will struggle to meet rising demand next year, meaning consumers will continue to face tight fuel markets, the International Energy Agency (IEA) said in its first assessment of 2023. A resurgent Chinese economy will bolster consumption, while tighter sanctions on Russia will curtail oil output, the agency forecast in its latest monthly report. The Opec+ …

  Bloomberg European natural gas prices jumped as reduced supplies raised concerns about the pace of refilling storage sites in time for next winter, just as a heat wave boosts demand for cooling. Benchmark futures rise as much as 8%, increasing for a third day. A liquefied natural gas export facility in the US — a vital source of supply …

Bloomberg Australia’s key power market suspended spot trading as it attempts to ease an electricity crunch that’s been worsened by some plants withholding supply after introduction of price caps. The Australian Energy Market Operator said it was taking action after some generators failed to respond to requests to fire up shuttered units and help add more supply to country’s main …