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Daily (10.03.2022): Brent crude slumped by 13% on Wednesday as UAE calls for production boost
Oil prices saw their biggest one-day plunge in over three months on Wednesday following comments from the Ukrainian government that they would be willing to compromise in order to end the ongoing war. In addition, there were reports that the UAE would call on OPEC+ to increase output more aggressively. Hence, Brent crude plummeted by 13% to settle at $111.14 a barrel. U.S. WTI crude WTI crude oil tumbled by 12% to settle at $108.7 per barrel.
read more... 10/03/2022
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Spain seeks EU funding for ‘green gas’ interconnector to rest of Europe
Spanish Prime Minister Pedro Sánchez has called on the European Union to finance gas interconnections with the rest of Europe, saying new infrastructure should also include green gases such as hydrogen. EURACTIV’s partner El Diario reports.
read more... 10/03/2022
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Germany reactivates coal power plants amid Russian gas supply threats
As Germany closes its last nuclear reactors, it is also reactivating old coal power plants to ensure electricity supply security amid Russian threats to turn off the gas tap.
read more... 10/03/2022
EU rolls out plan to slash Russian gas imports by two thirds before year end
The European Commission on Tuesday (8 March) presented proposals to reduce the EU’s dependence on Russian gas by two thirds before the end of 2022 as part of a plan to become independent from all Russian fossil fuels “well before 2030”.
read more... 10/03/2022
Daily (09.03.2022): European carbon prices rebounded by over 17% on Tuesday as investors priced in a more emissions-intensive future
Oil prices extended gains on Tuesday, with Brent crude approaching $130 a barrel after the US said it would ban imports of Russian oil and gas – a move matched by a UK phase-out of Russian oil imports. Hence, Brent crude soared by 3.9% to settle at $127.98 a barrel. US WTI crude increased by 3.6% to end at $123.70 a barrel.
read more... 09/03/2022