22 Apr Oil Prices, News 22/4/26, WTI Crude $90.20/bbl, Brent $99.30/bbl, Bonny Light $113.31/bbl, OPEC $96.31/bbl
(Oilandgaspress) US President Donald Trump has invoked the Defense Production Act (DPA) to accelerate domestic oil and gas development, directing federal support toward upstream production, refining and critical energy infrastructure.
In two presidential determinations issued April 20, the administration said expanded U.S. energy capacity is essential to national security, citing supply vulnerabilities and infrastructure constraints as key risks.
The order prioritizes investment across the full energy value chain, including exploration and production, pipelines, storage and export infrastructure, which the administration described as “industrial resources… essential to the national defense.”
The DPA authority allows the federal government to provide financial support, purchase commitments and other incentives to accelerate development of large-scale energy projects, particularly where private investment has been constrained by permitting delays, financing risks and supply chain bottlenecks.
The move builds on a previously declared national energy emergency and comes amid heightened global supply disruption linked to the ongoing Middle East conflict and instability in the Strait of Hormuz. The directive also waives certain statutory requirements to expedite project development, signaling a more aggressive federal role in supporting U.S. oil and gas output. Related News
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $90.20 | Up |
| Crude Oil (Brent) | USD/bbl | $99.30 | Up |
| Bonny Light 21/04/26 CBN | USD/bbl | $113.31 | Down |
| Dubai | USD/bbl | $102.88 | Up |
| Natural Gas | USD/MMBtu | $2.72 | — |
| Murban | USD/bbl | $100.99 | Up |
| OPEC basket 21/04/26 OPEC | USD/bbl | $96.31 | Down |
| At press time April 22, 2026 |
Iran’s Revolutionary Guard Corps (IRGC) said on Wednesday that its naval forces had seized two cargo ships attempting to cross the Strait of Hormuz and directed them to the territorial waters of the Islamic Republic. “The Islamic Revolutionary Guard Corps naval force this morning identified and stopped in the Strait of Hormuz two violating ships,” the Guards said in a statement.They identified one ship as MSC Francesca, which they said belonged to Israel and the other as Epaminondas, which they said was “tampering with navigation systems and jeopardising maritime security.” Related News
Bentley Home’s new furniture collection, unveiled at Milan Design Week 2026, evolves the brand’s design language with a renewed focus on materiality, comfort and craftsmanship, continuing to extend Bentley Motors’ long-embedded principles of luxury into the home. With a refined and evolving material palette and a growing emphasis on sustainability, the collection features tables, sofas, armchairs and a trunk. Rooted in Italy’s artisanal traditions, these new pieces represent the next stage in Bentley Home’s global design identity.
At the core of the collection is an exploration of finishes, created to reduce environmental impact without compromising on depth or richness. Natural resins are paired with hand-brushed shellac lacquers, applied through a layered process that enhances how surfaces interact with light. The effect is subtle rather than decorative, reflecting an architectural approach to finish that prioritises longevity over spectacle.
Textiles play an equally significant role. Locally sourced and woven from natural fibres, the collection’s fabrics — spanning wool, alpaca, cotton, linen and mohair velvet jacquards — are designed to create an immersive, “sensory landscape” of understated comfort. The emphasis is on tactile materials that age well, developing character over time rather than resisting it. .. Related News
Spain’s antitrust watchdog CNMC said on Tuesday it had closed investigations into BP, Cepsa, now known as Moeve, and Repsol after finding they had not broken antitrust law. . Related News
Iran could resume its attacks on energy sites and infrastructure across the Gulf, which have already caused significant economic damage. According to the Atlantic Council, around 83 per cent of Iran’s total missile and drone strikes during the war targeted Gulf Cooperation Council (GCC) countries, in particular the United Arab Emirates (UAE). Related News
VW Group Unveils Agentic AI Roadmap for China
Volkswagen Group unveiled its powerful push into smart mobility. The showcase included a refreshed model portfolio with four global premieres. This new line-up is driven by the “in China, for China” strategy. Every aspect—from design and digital cockpit services to advanced driver assistance systems (ADAS)—is tailored specifically for Chinese customers. The Group also launched its “Agentic AI for all” roadmap. This initiative is built on the new, scalable China Electronic Architecture (CEA) and will integrate intelligent driving and cockpit features into a single, unified operating system for all vehicle types.
This product rollout is built on the Group’s strong local R&D capabilities and partnerships, enabling complete in-house development in China. The Volkswagen brand is going all-in with new products and new technology, accelerating one of the largest product offensives in its global history. Revealed at the Volkswagen Group Media Night, the ID. AURA T6 from FAW-Volkswagen, the inaugural model of its all-new ID. AURA series, making its entry into China’s highly competitive fully electric mid-size SUV segment. As a cornerstone model for the brand, the ID. AURA T6 is built entirely on the locally developed China Electronic Architecture (CEA). This advanced technological foundation enables features such as advanced L2 assisted driving and continuous over-the-air (OTA) updates. .. Related News
Renault, Dacia and Alpine to electrify the Mondial de l’Auto 2026
Renault Group confirms its consistent and long‑standing presence at the Mondial de l’Auto, which in 2026 will mark the 91st edition of the Paris motor show. From 12 to 18 October, Renault, Dacia and Alpine, as well as Renault Pro+, the brand bringing together Renault light commercial vehicles and services for professionals, will welcome customers and automotive enthusiasts in Hall 6 of the Paris Expo Porte de Versailles.
A press day on 12 October will give French and international journalists and content creators the opportunity to meet Renault Group executives and experts and take stock of the rollout of the new futuREady strategic plan, seven months after its presentation. On public days, the 500,000 visitors expected will be able to discover all the new features showcased across the Group’s four stands and enjoy the many activities organised by the brands and the Mondial de l’Auto.
Engaged in a new growth cycle, Renault will showcase its entire new electrified range at the Mondial de l’Auto, along with the strategic directions aimed at strengthening the brand’s position in Europe. On a 2,500 m² stand, visitors will be able to discover several new concept cars as well as 22 electrified vehicles, half fully electric and half hybrid. Related News
Bentley Motors publishes fourth annual Sustainability Report
Bentley Motors today published its fourth annual Sustainability Report, reaffirming its commitment to sustainability, detailing continued progress against its Beyond100+ strategy and setting out a pragmatic, forward-looking approach to delivering sustainable luxury amid a rapidly evolving global landscape.
In 2025, Bentley achieved its lowest fleet CO₂ emissions in recent history, maintained carbon neutral operations in Crewe, and remained on track to reveal its first fully electric Bentley in 2026, marking a pivotal milestone in the company’s transformation journey.
Alongside electrification, Bentley continues to advance a holistic decarbonisation strategy, addressing emissions across the full vehicle lifecycle. This includes expanded work on Direct Air Capture (DAC), increased use of Sustainable Aviation Fuel (SAF) logistics, the advancement of eFuels and deeper integration of lifecycle analysis into product and supplier decision making. Responsible materials sourcing and supplier engagement is further enhanced under robust governance and concept studies being used to inspire bold thinking and guide long-term BEV and sustainability direction. . Related News
Global OTEC installs offshore system targeting power constraints at remote assets
A UK-based engineering company has successfully installed the world’s first purpose-built offshore platform designed to unlock continuous renewable energy from the temperature difference in the ocean.
Global OTEC, a pioneer in Ocean Thermal Energy Conversion (OTEC), has completed the offshore installation of a floating platform prototype in the Canary Islands, targeting one of the longest-standing barriers to commercialising ocean thermal energy conversion (OTEC).
First inspired by Jules Verne’s Twenty Thousand Leagues Under the Sea, OTEC generates electricity by harnessing the temperature difference between warm surface water and cold deep ocean water. While the OTEC concept has been demonstrated onshore for decades, offshore deployment allows the scaling necessary for economic power production. This installation tackles the single biggest reason OTEC has failed to scale: the ability to deploy and operate reliably offshore.
The project culminated this week with the successful deployment and connection of a 50-metre deep-water intake pipe, the installation of which is widely considered the most complex step in establishing an offshore OTEC system. Historically, similar systems have failed at this stage, including high-profile losses during installation attempts in India, undermining confidence in the technology.
The prototype has been installed at Oceanic Platform of the Canary Islands (PLOCAN), a pre-consented marine test site off the coast of Spain. The location provides access to deep ocean water close to shore, allowing engineers to validate system performance and environmental impact under realistic operating conditions.
The prototype forms part of a €3.5 million project funded by the European Union’s Horizon Europe initiative, awarded to a pan-European consortium led by Global OTEC in 2022. The full programme has advanced offshore OTEC through desktop simulations, tank testing, and now full-scale ocean deployment.
A key innovation in the project is the use of high-density polyethylene (HDPE) for the deep-water intake pipe, manufactured by project partner AGRU. Unlike traditional steel or rubber materials used in risers, HDPE offers superior flexibility, durability, and resistance to harsh deepwater marine conditions, significantly reducing the risk of failure during installation and operation. .Related News
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