Bloomberg Oil rose near $34 a barrel following Russia’s prediction that the market may balance as early as next month as global producers take historic amounts of crude out of the market. Russia, a key member of the Opec+ alliance that has pledged record output cuts, expects the market to balance in June or July. Energy Minister Alexander Novak said …

Bloomberg US clean-energy startup, Commonwealth Fusion Systems (CFS), raised an additional $84 million from major investors in Europe and Asia, underscoring that the appetite remains to back new technologies which could mitigate climate change. As the world looks to ramp up the use of intermittent renewable energy, it needs to add forms of flexible clean power that can be turned …

Bloomberg The Philippines has been left temporarily without any operating oil refineries as one of the world’s longest lockdowns eviscerates demand. Petron Corp, the nation’s largest oil company, said on Tuesday its 180,000 barrel-a-day refinery has been shut since May 5 for maintenance while fuel demand is low. Royal Dutch Shell Plc said the nation’s only other refinery remains temporarily …