Oil prices fell on Wednesday despite a sharp drop in U.S. crude inventories, driven by a lack of risk appetite in the face of rising interest rates after Fitch downgraded the U.S. debt rating. Thus, WTI crude dropped by 2.3% at $79.49 a barrel, while Brent crude decreased by 2% to settle at $82.20 a barrel.
read more... 03/08/2023
On Monday, crude oil prices gained ground, supported by signs of tightening supply. Hence, Brent crude edged 0.7% higher at $85.56 a barrel, while WTI crude increased by about 1.5% to settle at $81.80 a barrel.
read more... 01/08/2023
The Group of 20 (G20) major nations failed on Friday to agree on concrete targets to cut dangerous emissions, releasing only a statement that dismissed current measures to address climate change as "insufficient".
read more... 01/08/2023
Oil prices rose on Thursday, driven by continued tight supply, while demand remained resilient despite recession fears. Weekly figures released on Wednesday by the EIA showing a drop in commercial crude reserves and an increase in demand provided further support. Thus, WTI crude ended 1.7% higher at $80.09 a barrel, while Brent crude advanced by 1.6% to settle at $84.24 a barrel.
read more... 28/07/2023
A global initiative to grow the $2 billion market for carbon offsets outlined criteria for new voluntary standards on Thursday, and said it aims to issue labelled credits by the year-end to make the unregulated marketplace more transparent.
read more... 28/07/2023