Daily on Energy: Heating bill relief could be in store this winter

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“The outlook this year is mixed, though we expect that most households will pay less,” said Joseph DeCarolis, administrator of the EIA, in a webinar on Monday. However, electricity-powered heating is expected to fall in line with prices from last winter – with average prices ranging between $1,020-1,100, compared to last year’s cost of $1,080. Forty-two percent of households rely on electric heat pumps or electric resistance heaters as their primary source of heating.

Something to note: The EIA’s newest report has also cut October out of its Winter Fuels Outlook, defining the winter months as running between November through March. In previous years, the agency has included October in their winter projections. The Washington Post reports that the agreement is expected to include a process for lifting a ban on opposition candidates in the country, and a requirement that Maduro commit to accepting the results of an internationally overseen election in 2024.

HOW THE ISRAEL-HAMAS WAR WILL AFFECT TRADE AND COMMODITIES SHIPPING: The Israel-Hamas war has prompted new fears about disruptions to shipping and trade in the region, which analysts warn could push prices higher and upend commodities shipments in one of the most important energy-producing corners of the world.

Both are key for commodities and container shipping, and “any expansion of the hostilities beyond the country's borders could introduce risks to two vital shipping choke points,” Christian Roeloffs, co-founder and CEO of Container xChange, told Breanne. “The Suez Canal, a critical waterway for various commercial vessels, including container ships, may face disruptions. Similarly, the Strait of Hormuz, a backbone for oil and gas shipping, could be affected,” he added. Read more here.

In a statement today, Japan’s Ministry of Agriculture, Forestry and Fisheries called for the ban to be overturned, saying it has “no scientific basis,” and “is unjust and regrettable,” according to a local news outlet.

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