10 Mar Energy / Automotive news, commentary and analysis | Oil prices down as US may de-escalatate war
(Oilandgaspress) As the war enters its 11th day attacks continue on Iran as well as on Israel and US assets in the Middle East, including in Bahrain, Kuwait, the United Arab Emirates and Saudi Arabia. Iran has threatened to attack ships passing through the Strait of Hormuz, putting the route at severe risk for about one-fifth of the world’s oil supply. Because of these threats maritime insurers have decided the risks are too high. hence Insurance companies have withdrawn coverag amd global shipping through Strait of Hormuz is brought to almost a complete stop. No blockade required.
U.S. President Donald Trump is promising to “ensure the free flow of energy to the world.” But according to reporting from The Guardian, that “free flow” is not materializing.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $83.93 | Down |
| Crude Oil (Brent) | USD/bbl | $98.25 | Down |
| Bonny Light 10/03/26 CBN | USD/bbl | $95.32 | Down |
| Dubai | USD/bbl | $99.14 | — |
| Natural Gas | USD/MMBtu | $3.05 | Down |
| Murban | USD/bbl | $99.33 | Down |
| OPEC basket 09/03/26 OPEC | USD/bbl | $115.54 | Up |
| At press time (PM) March 10, 2026 |
United States President Donald Trump has said his administration will lift some sanctions on oil-producing countries to keep energy prices down amid the US and Israel’s war on Iran according to reports. Trump made the comments on Monday after a rollercoaster 24 hours that saw crude oil prices soar to nearly $120 a barrel before dropping below $90. Washington currently maintains sanctions on the oil sectors of Russia, Iran and Venezuela. Related News
South Korea’s antitrust regulator said on Tuesday it has fined Mercedes-Benz 11.2 billion won ($7.61 million) for misrepresenting the battery suppliers in its electric vehicles according to reports.. The Korea Fair Trade Commission said Mercedes-Benz promoted its EQE and EQS models as using premium cells from CATL, the world’s largest EV battery maker, while concealing that some vehicles instead carried Farasis Energy batteries – information absent from dealer guides and marketing material.. Related News
Vestas has received a firm order for RWE’s 1,380 MW Vanguard East offshore wind project in the United Kingdom. Vanguard East follows Vanguard West, which was confirmed as a firm order last month. This new order further supports the UK’s advance toward its 2030 clean power targets while building crucial momentum for the wider energy transition across Europe.
The order includes 92 Vestas V236-15.0 MW wind turbines, with Vestas responsible for the supply, delivery, and commissioning of the turbines. Upon completion, Vestas will also service the assets under a five-year comprehensive service agreement followed by a long-term operational support agreement.
The project site is located off the coast of Norfolk in East Anglia. RWE is currently targeting a Final Investment Decision (FID) for Vanguard East in summer of 2026, with deliveries beginning in Q4 2028, and commissioning of the project expected in 2030.. Related News
Aramco reportedly said on Tuesday there would be “catastrophic consequences” for the world’s oil markets if the Iran war continues to disrupt shipping in the Strait of Hormuz.
Oil shipments have been largely blocked from using the shipping artery, where normally roughly 20% of the world’s oil would pass through daily. Iran’s Revolutionary Guards said on Tuesday they would not allow “one litre of oil” to be shipped from the Middle East if U.S. and Israeli attacks continue. “There would be catastrophic consequences for the world’s oil markets and the longer the disruption goes on … the more drastic the consequences for the global economy,” Aramco CEO Amin Nasser told reporters on an earnings call.
“While we have faced disruptions in the past, this one by far is the biggest crisis the region’s oil and gas industry has faced.” Read More
Significant parts of London’s underground network will be powered by solar after Transport for London (TfL) appointed SSE Energy Solutions as its delivery partner.
TfL will receive zero-carbon electricity straight from purpose-built solar installations, bypassing the National Grid. As London’s largest single electricity consumer, TfL’s deal is one of the first private wire schemes for an urban transport network. It is part of the authority’s ambition to use 100% renewably-sourced electricity across TfL’s operations by 2030.
SSE Energy Solutions will work with TfL to identify suitable locations to build the new solar installations, likely close to the TfL network to enable the direct connection, and including both ground-mounted solar installations or rooftop panels. Once constructed, they could deliver up to 65,000 megawatt hours (MWh) of renewable electricity to the network, which is the equivalent of around two-thirds of the estimated annual consumption of the Victoria line. This offers the potential to save more than 27,000 tonnes of carbon in total over 25 years. Related News
BYD has showcased its Flash charging technology in China, ahead of a global rollout of the technology. The company showed the charging technology, which delivers up to 1500kW through a single connector, alongside the second generation of its Blade Battery. It follows the company originally announcing the technology a year ago, which highlighted how it could result in charging speeds similar to refuelling a traditional internal combustion engine vehicle.
When combined, the two new technologies deliver recharging speeds of a 10% to 70% refill in as little as five minutes, while 10% to 97% requires only nine minutes. It also announced that the first vehicle to reach European customers will be the DENZA Z9GT with final specifications of the European version of the car “will be issued in the coming weeks”, it said. In addition, the firm said it was “committed” to making the Flash charging station available globally, with more details on an overseas rollout “communicated in due course”. BYD has already installed 4,239 Flash Charging stations across China, and it expects to have 20,000 in operation by the end of this year.. Related News
Geothermal resources have the potential to support the growth of the Agrifood sector, in particular through protected cropping, which the Plan reports remains comparatively small in the South West region currently. Although modest users of electricity, greenhouses have a major demand for heat, which is where geothermal could provide a convenient solution. The focus of GEL’s projects are on geothermal power and the extraction of lithium, but with “waste heat” available, GEL is exploring the potential to co-locate greenhouses heated with geothermal energy alongside its projects in Cornwall. The Plan reports that the UK imported over £9.2billion of horticultural products in 2024, which highlights the potential for large-scale growth of the greenhouse industry. Sustainable sources of heat, such as through GEL’s geothermal projects, are expected to play a key role in unlocking this potential. Related News
Following a thorough review of Ofgem’s Final Determinations for the RIIO-T3 Price Control period, SSEN Transmission, as part of SSE plc, confirms its acceptance of the settlement, recognising it as an investable and deliverable settlement overall. The RIIO-T3 price control comes at a critical time for securing clean, affordable and reliable power for families and businesses across the country. The investment it delivers will help reduce reliance on imported energy from overseas, remove grid bottlenecks and strengthen energy security. It will also act as a major catalyst for economic growth, jobs and supply chain investments across the UK to unlock the country’s full clean energy potential.
SSEN Transmission has already demonstrated its commitment to delivering the critical transmission infrastructure upgrades required to help deliver the country’s energy and economic ambitions. These investments are largely represented by 11 major transmission reinforcements, which SSEN Transmission continues to progress, having already secured 75% of major planning consents, with six of these schemes fully consented and five already in the construction phase. Securing the remaining consents will be a focus for the business for the remainder of this calendar year. Read More
Octopus Energy’s Electroverse, Europe’s largest electric vehicle (EV) charging network, is taking its game-changing ‘Plunge Pricing’ scheme abroad, kicking things off in France. In partnership with Powerdot, the country’s largest public charging operator, Electroverse will reward drivers with dramatically lower rates for plugging in when the grid is greenest and wholesale electricity prices drop. EV drivers all across France can now scoop up magnifique discounts of up to 50% on public charging when the wind blows, and the sun shines – saving roughly €5 for every Plunge Pricing session. France is the first country to benefit from the rollout, building on Octopus Energy’s innovation in the UK, where Plunge Pricing events collectively saved drivers nearly £100,000 since launching the scheme in 2024.
Initially available at all 7,000 Powerdot ultra-rapid chargers in France, Electroverse is already set to roll out its Plunge Pricing innovation across more charge-point brands over time. The launch comes as France is rapidly ramping up renewable energy generation, creating an abundance of clean electricity that can now be put towards powering cars for less. Related News
XPeng Motors held a launch event for the XPeng G6 Super Extended Range SUV. Positioned as a six-in-one AI extended-range SUV, the new vehicle boasts six core advantages: the best combined range in its class, the fastest refueling speed in its class, the best on-board computing power in its class, the strongest chassis system in its class, the strongest active safety in its class, and the highest usable floor space ratio in its class. It aims to create a truly affordable car that meets users’ needs across all scenarios. The XPeng G6 Super Extended Range 1704 Max was launched with an official guide price of RMB 186,800. Users can opt for two intelligent upgrade packages: an additional RMB 12,000 to upgrade to the Ultra SE version, or an additional RMB 20,000 to upgrade to the Ultra version. From now until 24:00 on March 31, 2026, customers who place an order for the XPeng G6 Super Range Extender will enjoy a limited-time benefit package worth up to RMB 33,200, including a RMB 5,000 New Year purchase subsidy, a finance/option fund worth up to RMB 9,300 (choose one), a trade-in benefit worth up to RMB 5,000, a repurchase benefit worth up to RMB 13,500, and a delivery gift worth RMB 400. Related News
The Government Work Report tasks for 2026 consist of ten points. In particular, the report’s first-ever proposal to create a “new form of intelligent economy,” its high regard for cultivating and strengthening emerging and future industries. XPeng has always been driven by “technological innovation,” exploring the fields of intelligent vehicles, flying cars, and humanoid robots for many years and releasing a number of original products. This aligns perfectly with the points mentioned in this report: “creating a new form of intelligent economy,” “promoting the deep integration of technological and industrial innovation,” and “strengthening the leading role of enterprises in innovation.” In this regard, I would like to share four observations. Related News
When Lamborghini debuted the Miura at the Geneva Motor Show on 10th March 1966, the company did far more than introduce a new car. It redefined what a high-performance road vehicle could be. The Miura featured V12 engine that was transversely mounted behind the driver, a layout that was inspired by motorsport design. It was a radical architecture that broke with GT tradition. The Miura boasted performance figures that, for the time, seemed surreal. The shape of the car, created by the legendary design firm Bertone, was immediately iconic and remains so today. The Miura was not simply another Lamborghini, it was a statement of intent for the young company. Launched just three years after the founding of Automobili Lamborghini, the Miura was the third model to be unveiled, and it established core values of the brand that lasted for decades to come. Courage over convention; innovation without compromise; design and engineering pushed to their limits.
In 2026, Automobili Lamborghini celebrates this extraordinary icon by retracing its origins, its evolution, and the characteristics that made the Miura the first true supercar in history. This is a journey through genesis, design, performance, and legacy and is a tribute to the car that transformed dreams into reality and wrote the first chapter of Lamborghini’s legend. Throughout the year, Automobili Lamborghini will also host a series of celebrations worldwide, including a Lamborghini Polo Storico Tour, organized by the brand’s Heritage department and dedicated exclusively to the Miura, scheduled to take place from 6th to 10th May in Northern Italy. Related News
Policy Brief examining whether rising block electricity tariffs can function as a cost neutral, progressive form of social tariff in Great Britain. It highlights significant risks for vulnerable households if such tariffs are not carefully designed.
As part of a UKERC project on social and flexible tariffs, this brief assesses how different tariff designs, namely direct bill support, unit price discounts and rising block tariffs, can improve affordability while remaining deliverable and aligned with wider energy system goals. Rising block tariffs can, in principle, lower bills for low consumption (and often lower income) households, and increase bills for high consumption (and often higher income) households. However, considering a plausible block tariff structure, our analysis shows that many households living in fuel poverty within lower income groups are likely to face higher bills.
This is because fuel poor households are more likely to live in inefficient homes, rely on electric heating and have higher essential energy needs, which push their consumption into higher price blocks even at their relatively low income and overall consumption levels. Thus, the key insight emerging is that if rising block tariffs are implemented without safeguards, the outcomes for households that a social tariff is meant to protect could be exacerbated, and even worsened. . Read More
(Oilandgaspress) The Baker Hughes International rig count is a monthly census of “active” drilling rigs exploring for or developing oil or natural gas outside North America (US & Canada). The Baker Hughes rig count defines active rigs as rigs that are actively conducting drilling operations on a given well
For a rig to be active the below conditions must be met:
• The rig must be drilling (turning to the right) • Drilling needs to have occurred for a majority of the week (4 days out of 7)
• The active rig must be working on a well which is a significant consumer of oilfield products and services
| Region | Period | Rig Count | Change |
| Africa, Land/Offshore | February 2026 | 103 | +3 |
| Middle East, Land/Offshore | February 2026 | 538 | +20 |
| Asia-Pacific, Land/Offshore | February 2026 | 207 | +1 |
| Latin America, Land/Offshore | February 2026 | 138 | +2 |
| Europe Land/Offshore | February 2026 | 126 | +7 |
Baker Hughes |
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