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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 (17.05.2023): European carbon prices rose by 2% on Tuesday as the market anticipated a shortage of supply for the remainder of the week
Oil prices edged lower on Tuesday as a slow recovery in China, a stronger dollar and uncertainty about the global economy weighed on prices. Thus, Brent crude traded 0.4% lower to settle at $74.91 a barrel. WTI crude settled at $70.86 a barrel.
read more... 17/05/2023
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EU launches first round of tenders to jointly buy gas
The European Commission on Wednesday (10 May) launched the first round of tenders for gas sellers to link with EU buyers on the joint gas purchasing platform to help maintain security of supply and tackle high energy prices.
read more... 11/05/2023
Norway Set To Accelerate Arctic Oil And Gas Drilling
Companies operating in the Norwegian Continental Shelf are planning for more drilling in the Arctic areas in the Barents Sea, encouraged by Norway’s government which wants more oil and gas discoveries to boost energy security and help European partners with energy supply.
read more... 04/05/2023