IEA Sees Faster Global Power Demand Growth as Renewables and Nuclear Expand

The International Energy Agency (IEA) projects that global electricity consumption will accelerate by more than 3.5% annually through the end of the decade, driven by electrification, data centers, and economic growth in emerging markets. The agency expects renewables and nuclear to account for almost half of global power generation over this period, reshaping long‑term demand profiles for fuels such as Natural Gas, Oil – US Crude, and Oil – Brent Crude. While rising low‑carbon power capacity could cap growth in fossil fuel demand from the power sector, natural gas‑fired generation remains a key balancing source for intermittent renewables, and oil markets may be indirectly affected through broader macro and energy‑transition dynamics.

Over the past month, natural gas prices have climbed about 21.3%, reflecting tighter supply expectations and the view that structurally higher electricity demand may support gas-fired power in the medium term; the current 1‑day technical signal for natural gas stands at Buy, suggesting near‑term bullish momentum. US crude has risen roughly 13.1% in the last month, while Brent has gained about 13.1% as well, moves that may be partially tied to stronger anticipated energy demand alongside constrained upstream investment; both Strong Buy and Strong Buy 1‑day technical readings indicate positive short‑term trends that investors will weigh against longer‑run decarbonization policies and changing fuel mixes in the power sector. Investors can explore more updates, prices, and analysis across global markets at Commodities.