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EIA: Crude oil demand returns faster than supply, increasing prices and reducing inventories

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The price of US benchmark West Texas Intermediate (WTI) crude oil is near its highest level since 2014, increasing rapidly from low prices in mid-2020 as demand returns faster than supply, according to the US Energy Information Administration (EIA). US crude oil inventories were 440.3 million barrels by the end of June 2020.

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BloombergNEF annual battery price survey finds prices fell 6% from 2020 to 2021

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Lithium-ion battery pack prices, which were above $1,200 per kilowatt-hour in 2010, have fallen 89% in real terms to $132/kWh in 2021, according to a new report from BloombergNEF (BNEF). All prices are in real 2021 $, unless stated as nominal.) At the cell level, average BEV prices were just $97/kWh.

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EIA expects significant increases in US wholesale electricity prices this summer

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The US Energy Information Administration (EIA) forecasts that prices in US wholesale electricity markets this summer will significantly increase over last summer’s prices. EIA forecasts summer electricity prices will average $98/MWh in California’s CAISO market and $90/MWh in the ERCOT market in Texas. MMBtu in May 2021.

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Benchmark: lithium prices continue to rise

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Lithium prices continued to rise in November, with Chinese battery-grade prices surpassing the RMB 200,000/tonne (US$31,395/tonne) mark, according to Benchmark’s Lithium Price Assessment. Source: Benchmark Mineral Intelligence.

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Argonne study finds rare earth supply disruptions can have long-range impacts

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Disruptions to this supply can have wide-ranging consequences, but the understanding of how those disruptions play out in global markets is limited. A variety of disruptive events can affect the supply of rare earth materials, including natural disasters, labor disputes, construction delays and a pandemic. Causes of supply disruptions.

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Could a glut of lithium supply spur an EV price war?

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Market experts are carefully watching a drop in lithium prices—and what impact that could have on EV costs—according to a new Bloomberg report.

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Plug Power to supply green hydrogen to Amazon

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Plug Power signed a hydrogen supply deal with Amazon to provide liquid green hydrogen starting in 2025 to help decarbonize Amazon’s operations as part of its commitment to be net-zero carbon by 2040. Specifically, Amazon and Plug have signed a deal for Plug to supply 10,950 tons per year of liquid green hydrogen to fuel Amazon operations.

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