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Daily (08.11.2021): Oil prices lost around 3% on Friday, as the effect from reports of countries delving into strategic reserves wore off
Oil prices recovered ground on Friday, as market participants doubted the prospects of countries, such as the US, tapping into strategic reserves to relieve prices. As a result, Brent oil strengthened by 2.7% to $82.74 a barrel and WTI crude surged by 3.1% to $81.27 a barrel.
read more... 08/11/2021
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Virginia offshore wind project seeks regulatory nod, awards USD-1.9bn contract
Dominion Energy Inc (NYSE:D) said it will later today make a filing with the Virginia State Corporation Commission seeking regulatory approval for its 2.6-GW Coastal Virginia Offshore Wind (CVOW) project, the US’ largest offshore wind project.
read more... 08/11/2021
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Russian Yamal gas flows into Germany remain eastbound again for 2nd day
Gas flows on the Yamal-Europe pipeline between Russia and Germany were flowing eastbound for the second day running on Sunday, data on German transmission company Gascade’s website showed.
read more... 08/11/2021
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OPEC+ needs to be careful in policy to balance market amid Q1 demand softening: UAE
OPEC+ needs to be careful in implementing its policy because it needs to balance the market amid forecasts of softening demand in the first quarter of 2022, the UAE's energy minister said on Nov. 8.
read more... 08/11/2021
Daily (05.11.2021): British near-term gas prices dropped sharply on Thursday after resumption of Russian gas flows to Germany through Yamal
Oil prices fell on Thursday, reversing earlier gains in a volatile session following news that Saudi Arabia's oil output will soon exceed 10 million barrels per day for the first time since the COVID-19 pandemic began. Hence, Brent crude decreased by 1.8% to settle at $80.54 a barrel, the lowest level since October 1. At the same time, U.S. WTI crude fell by 2.5%, to settle at $78.81 a barrel, the lowest level since October 7.
read more... 05/11/2021