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Daily (15.12.2021): Oil prices extended losses on Tuesday amid Omicron variant outbreak, bearish oil demand forecast from IEA
Crude oil prices continued to lose ground for a second straight day on Tuesday. Apart from the ongoing Omicron virus concerns, the losses were attributed to fears of a global oversupply. Moreover, the International Energy Agency (IEA) lowered its forecast for oil demand this year and the next by 100,000 barrels per day each. Hence, Brent crude fell by 69 cents, or 0.9%, to settle at $73.70. U.S. WTI crude settled down 56 cents, or 0.8%, at $70.73 a barrel.
read more... 15/12/2021
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UK Company Looks To Build Europe’s Largest Battery
Sembcorp Energy UK (SEUK) has announced plans to build Europe’s largest battery in Teeside to boost its portfolio and strengthen the UK’s renewable infrastructure as the country pushes to reach net-zero carbon emissions by 2050.
read more... 15/12/2021
Spain to invest 6.9 bln euros in renewables, green hydrogen, energy storage
Spain will allocate 6.9 billion euros ($7.8 billion) to renewables, green hydrogen and energy storage in the next two years and aims to attract another 9.45 billion euros in private funding under its COVID-19 recovery plan, the government said on Tuesday.
read more... 15/12/2021
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Europe facing record low gas storage by winter's end
Europe's gas storage levels could hit record lows by the end of the winter heating season due to an early cold spell and muted Russian flows, Gas Infrastructure Europe data showed, leaving consumers and companies with much higher prices for longer.
read more... 15/12/2021
Daily (14.12.2021): European electricity prices hit new record-highs on Monday amid cold weather forecasts, bullish sentiment across gas market
Crude oil prices lost ground on Monday as doubts about the effectiveness of vaccines against the Omicron variant counterbalanced a bullish forecast for oil demand in the first quarter by OPEC. Hence, Brent crude fell by 76 cents, or 1.0%, to settle at $74.39 a barrel. U.S. WTI crude dropped by 38 cents, or 0.5%, to settle at $71.29 a barrel.
read more... 14/12/2021