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Daily (13.12.2023): Oil prices hit a 6-month low on Tuesday, driven by oversupply concerns and gloomy global economic outlook
Oil prices posted a sharp decline by about 4% on Tuesday, hitting a 6-month low, weighed down by fears of an oversupply of crude, a gloomy global economic outlook and US inflation that is not slowing down as easily. The Fed, the ECB and the BoE are all set to unveil interest rate decisions this week as investors await their impact on the global economy and oil demand. Hence, Brent crude settled at $73.324, while WTI crude closed at $68.61 per barrel.
read more... 13/12/2023
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EU solar power growth expected to slow in 2024-25
Growth of EU solar power installations may slow by 24% in 2024 and 23% in 2025 in the face of weaker wholesale electricity prices and problems getting permits and grid connections, an industry association forecast on Tuesday.
read more... 13/12/2023
Daily (12.12.2023): European carbon prices hit a 14-month low on Monday, driven by falling gas prices
On Monday, oil prices saw a modest increase as investors were cautious in anticipation of a week filled with market reports and decisions on monetary policy. As a result, Brent crude closed slightly above $76, while WTI crude ended at $71.32 per barrel.
read more... 12/12/2023
Daily (11.12.2023): Oil prices rebounded by over 2% on Friday following Russo-Saudi meeting
Oil prices rebounded on Friday following a meeting between Russian President and Saudi Crown Prince, where they emphasized the importance of energy cooperation and the need for all countries to adhere to the OPEC+ agreement. Consequently, Brent crude ended at $75.84 per barrel, while WTI crude closed at $71.23 per barrel, both contracts jumping by more than 2%.
read more... 11/12/2023
Daily (08.12.2023): Gas and power forward prices extended gains on Thursday amid stronger demand and supply concerns due to colder weather
On Thursday, oil prices experienced a minor decline as the bearish sentiment persisted, driven by indications of weakened global demand, particularly from China, the largest oil importer globally. Nevertheless, declining U.S. stocks limited losses. Thus, Brent crude settled at $74.05 per barrel, while WTI crude closed at $69.34 per barrel.
read more... 08/12/2023