Welcome to Carbon Brief’s DeBriefed. An essential guide to the week’s key developments relating to climate change. This week Ceasefire causes oil price drop CEASEFIRE SLUMP: Following the announcement on Tuesday of a two-week ceasefire agreement between Iran and the US and Israel, oil prices dropped below $96 per barrel, according to the Associated Press. However, price volatility resumed when a Saudi Arabian oil pipeline was hit just hours later, according to Reuters. CRISIS COMBINED: Reuters and other outlets covered comments made by the International Energy Agency’s Fatih Birol to Le Figaro, where he said that the current energy crisis is worse than those of “1973, 1979 and 2022 combined”. It added that Birol said the “world has never experienced a disruption to energy supply of such magnitude”. POLLUTERS PROFIT: The Guardian covered how the “worst polluters hold [the] world’s future in their hands as they benefit from higher fossil fuel prices”, but it added “global trends favour renewables”. The South China Morning Post reported that, according to experts, the diversification of energy sources is set to accelerate as the war continues to disrupt the world’s energy supplies. Around the world CLIMATE GOALS PERIL: The UK opening new oil and gas fields in the North Sea “would imperil” international climate goals, experts told the Guardian. The warning came as the government pushed back against the speculation that it is set to approve new drilling projects, according to Sky News. COP33 CHANGES: The Indian government has withdrawn its offer to host the…
