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Daily (25.05.23): Oil prices increased by 2% on Wednesday amid OPEC supply cut speculations
Falling U.S. stockpiles and warning from the Saudi energy minister that OPEC+ could reduce its production weighted on oil prices on Wednesday. Brent and WTI crude rose by 2% to settle at $78.36 and $74.34 a barrel respectively.
read more... 25/05/2023
Daily (24.05.2023): Crude oil prices rose by 1% on Tuesday amid concerns over tightening supply
Crude oil prices extended gains on Tuesday amid expected weak gasoline market and after Saudi energy minister warned about increased prospect of further OPEC+ outputs cuts. Hence, Brent crude ended at $76.84 a barrel, posting an 1.2% rise. Meanwhile, WTI crude rose by 1.2% to close at $72.9 a barrel.
read more... 24/05/2023
Daily (23.05.2023): European spot electricity prices rocketed by around 50% on Monday amid expectations of lower wind energy generation
Brent crude increased by 0.5% to $75.99 a barrel on Monday as oil demand is expected to rise in the second half of the year and amid declining supplies from Canada and OPEC+. WTI crude traded 0.7% higher at $72.1 a barrel.
read more... 23/05/2023
Italy set to miss near 50% of green power goal
Italy is set to miss nearly 50% of its green power goals by 2030 unless it substantially increases the pace of growth, a new study showed on Monday.
read more... 23/05/2023
Daily (22.05.2023): Germany and France spot power prices fell by about 40% on Friday amid higher renewables
Brent crude slipped by 0.3% to $75.58 a barrel on Friday, pressured by stronger dollar and official EIA data, which showed an increase in US crude stocks. Meanwhile, WTI crude traded 0.4% lower at $71.55 a barrel.
read more... 22/05/2023