Lithium-ion (Li-i) batteries are the fastest-growing technology in the power storage sector, according to a recent report by Forum for the Future, which tapped insights from half a dozen key executives in the UK energy sector. But the rising cost of lithium and cobalt, which is a component of the cathodes used in Li-i batteries, could slow their progress.
Faced with the possibility of tighter sanctions on Venezuela, US refiners are switching to lighter crude slates and sourcing more heavy grades from Canada and Mexico. Asian refiners look set to reap the benefit. This has implications for crude differentials in all parts of the world.