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Global markets sink on resurgent virus fears
World stocks and oil prices sank Monday as the spreading Delta variant of Covid-19 fueled fears of a faltering economic recovery, while the OPEC+ alliance agreed to hike output.
read more... 20/07/2021
Volkswagen, Iberdrola, Enel, BP to install EV recharging stations, battery plants in Europe
Volkswagen has set up a strategic alliance with Iberdrola to expand electrification in Spain, in addition to tie-ups with Italian utility Enel and U.K. energy group BP in Europe, as well as other partners such as Ionity and Aral.
read more... 17/03/2021
Russia Backs Another 500,000 Bpd Oil Production Increase
Despite renewed fears about oil demand due to the new coronavirus strain, the leader of the non-OPEC group in the OPEC+ pact, Russia, is still in favor of another 500,000 bpd increase in the alliance’s oil production from February, Bloomberg reported on Monday, citing officials with knowledge of the Russian oil policy.
read more... 22/12/2020
Daily (08.12.2020): Oil prices strated the week on the back foot amid renewed COVID-19 fears
Crude oil prices closed lower on Monday, starting the week with a negative performance, as concerns about the surging number of coronavirus cases in many countries overshadowed positive impact from COVID-19 vaccine news and smaller than expected increase in output by the OPEC+ alliance. Heightened tensions between the United States and China put further pressure on WTI price. Hence, Brent crude declined by 0.9% to settle at $48.79 a barrel. Meanwhile, WTI crude decreased by 1% to end at $45.46 a barrel.
read more... 08/12/2020
Daily (11.11.2020): European Cal’21 power prices reversed gains on Tuesday as vaccine euphoria vanished
Crude oil prices continued to add ground on Tuesday amid optimism generated by a vaccine against COVID-19 and a possible intervention of OPEC + alliance. Moreover, bigger than expected weekly U.S. oil storage draws helped WTI to extend gains. Hence, Brent crude soared by $1.21, or 2.9%, to settle at $43.61 a barrel. Meanwhile, U.S. WTI crude increased by 1.07, or 2.7%, to end at $41.36 a barrel.
read more... 11/11/2020