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Daily (15.03.2024): Oil prices rose to four-month highs on Thursday amid supply shortage worries
Oil prices increased by about 2% on Thursday, hitting their highest level in four months, boosted by new forecasts from the International Energy Agency (IEA) warning of potential supply shortages until year-end. The EIA report also revealed a notable 5.7-million-barrel decrease in gasoline stocks, the steepest decline since early November. Thus, the Brent crude oil stood at $85.42 a barrel, while WTI crude settled at $81.26 a barrel.
read more... 15/03/2024
Daily (13.03.2024): Oil prices experienced a modest decline on Tuesday due to inflation and OPEC worries
On Tuesday, oil prices saw a slight decrease due to a higher than anticipated US inflation index, coupled with rising concerns over the compliance with OPEC production cap. Brent crude fell by 0.3% at $81.92 a barrel, while WTI crude slipped by 0.4% to $77.56 a barrel.
read more... 13/03/2024
Daily (11.03.2024): Oil prices fell by over 1% on Friday as demand concerns outweighed production cuts
Oil prices dropped on Friday amid worries about Chinese demand despite geopolitical tensions and supply cuts. As a result, the Brent crude oil decreased by 1% to settle slightly above $82 a barrel, while WTI crude declined by 1.2% to stand slightly above $78 a barrel.
read more... 11/03/2024
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UK unveils landmark electricity market reform
Energy Secretary Claire Coutinho is set to announce reforms in electricity markets, aiming to potentially save households £45 annually and unlock £35 billion in savings over two decades
read more... 11/03/2024
Daily (08.03.2024): Forward gas prices tumbled by over 2% on Thursday amid ample supply and high inventory levels
Oil prices exhibited a stable-to-bearish trend on Thursday due to consistent demand from Asia, despite possible supply disruptions caused by OPEC+ decision and the ongoing political turmoil in the Middle East. As a result, Brent crude remained steady at $82.96, while WTI Crude experienced a slight decrease of approximately 0.3% to settle slightly below $79.
read more... 08/03/2024