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Daily (04.04.2022): British gas prices dropped sharply on Friday as Russian threat to cut flows failed to occur
Crude oil prices fell on Friday as members of the International Energy Agency (IEA) agreed to join in the largest-ever U.S. oil reserves release. Hence, Brent crude dropped by 3.3% to settle at $104.39 a barrel. US WTI crude decreased by 1% to close at $99.27 a barrel.
read more... 04/04/2022
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Daily (01.04.2022): Oil prices slumped on Thursday amid US pledge to release oil reserves
Crude oil prices dropped sharply on Thursday after President Joe Biden unveiled the largest ever release from the US Strategic Petroleum Reserve and called on oil companies to increase drilling to boost supply. This news outweighed OPEC+ saying it would continue with only a gradual increase in production. Hence, Brent crude ended the day at $107.91, falling by 4.9% day-on-day. U.S. crude for May delivery settled 7% lower at $100.28 per barrel.
read more... 01/04/2022
Daily (24.03.2022): Oil prices gained over 5% on Wednesday, on prospects of more sanctions against Russian oil and a drop in US commercial crude reserves
Crude oil prices increased sharply on Wednesday, amid anticipations of additional sanctions against Russia ahead of several key international summits. Moreover, US commercial crude stocks dropped by a larger-than-expected amount, lending additional support. Hence, Brent oil surged by 5.3% to $121.60 a barrel and WTI crude rose by 5.2% to $114.93 a barrel.
read more... 24/03/2022
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Daily (02.03.2022): Brent crude surged towards $105 a barrel on Tuesday despite IEA agreement
Oil prices surged on Tuesday with Brent crude hitting its highest level since 2014 as Russia’s invasion of Ukraine entered its seventh day. However, IEA’s decision to release 60m bbl of reserves to alleviate price hikes did little to calm markets. Hence, Brent crude soared by 4% to settle at $104.97 a barrel.
read more... 02/03/2022
Swiss plan hydropower reserves, back-up plants to ensure lights stay on
Switzerland plans new hydropower reserves and two or three back-up power plants after officials warned the country would be without power for nearly two days in a worst-case scenario if it does not strike an electricity deal with the EU.
read more... 18/02/2022