The global energy market witnessed various significant developments this week. Oil futures experienced a surge, driven by expectations of further stimulus in China to revive its economy, the world's largest crude importer. In the US, the Treasury Department issued new rules facilitating tax breaks for clean hydrogen production, positively impacting companies like Plug Power and Bloom Energy. Moreover, nuclear-energy stocks saw gains following the relaxation of clean-hydrogen production regulations, allowing struggling nuclear power plants to produce hydrogen. The natural gas sector also observed momentum due to structural changes and increased export capacity, potentially leading to sustained elevated gas prices. Additionally, renewable energy firms are shifting their pitch to emphasize their ability to meet power demands efficiently rather than solely focusing on cleanliness and affordability. In international news, Russian gas flow to Europe halted after Ukraine declined to renew a pipeline deal, with limited expected impacts due to Europe's diversified energy sources. Lastly, a power outage in Puerto Rico affected over 1.2 million people on New Year's Eve, with efforts underway for full restoration within 24 to 48 hours.