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Daily (28.09.2023): Oil prices hit new highs amid supply constraints and significant inventory drawdown
On Wednesday, oil prices hit new highs, driven by the tightening of global oil supply and a larger-than-anticipated decrease in US crude inventories. As a result, Brent crude soared by 2.8% to settle at $96.55 a barrel, its highest levels in 10 months. Similarly, WTI crude surged by 3.6% to end at $93.68 a barrel, marking its highest level in over a year.
read more... 28/09/2023
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France Boosts Energy Transition Investments In 2024 Budget
The French government will significantly increase public spending on green energy projects while curbing the support to households to help them with the high energy prices, according to the 2024 budget.
read more... 28/09/2023
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EU looking to invest massively in electricity storage
The EU needs to invest heavily in electricity storage, according to the European Commission – an idea supported by Polish electricity company Tauron, which proposes creating a European energy storage bank.
read more... 27/09/2023
Russia dodges G7 price cap sanctions on most of its oil exports
Russian crude oil supplies increased 50% this spring despite the G7 countries imposing sanctions due to war in Ukraine, the Financial Times reported on Sunday citing data from analytics company Kpler.
read more... 25/09/2023
Daily (19.09.2023): Brent crude price rally continued in full force on Monday, hovering near $95 per barrel
On Monday, crude oil prices gained ground the third consecutive day, hitting the highest level this year amid limited supply and increased demand anticipated in the fourth quarter due to extended production cuts by Saudi Arabia and Russia. China's recent economic stimulus efforts, aimed to revitalize the economy, further bolstered oil prices. Hence, Brent crude edged 0.5% higher at $94.43 a barrel. Meanwhile, U.S. WTI crude gained 0.8% to end at $91.48 a barrel.
read more... 19/09/2023