Bloomberg Oil falls the most in 5 weeks as Federal Reserve Chair Jerome Powell reiterated his will to curb the hottest inflation in decades with more aggressive rate hikes. West Texas Intermediate dropped to near $110, shedding as much as 6.3%. Federal Reserve Chair Jerome Powell this week openly endorsed for the first time raising interest rates well into restrictive …

  Bloomberg BP’s acquisition of a stake and lead role in a $36 billion green hydrogen development in Western Australia is casting a spotlight on a slew of ambitious projects around the world that are promising to deliver massive amounts of the clean fuel. Green hydrogen, produced using water and renewable electricity, is widely predicted to play a crucial role …

  Bloomberg A wave of new oil refining capacity that’s coming on stream won’t be enough to solve a global shortage of diesel, jet fuel and similar petroleum products. That’s the takeway from the Paris-based International Energy Agency’s (IEA’s) monthly report, which shows that increased processing — as new plants come online — this year and next will fall well …