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IEA sees oil demand growth slowing as China's share ebbs
Global oil demand growth will slow to just under a million barrels per day (bpd) this year and next, the International Energy Agency (IEA) said, as Chinese consumption contracted in the second quarter due to economic problems.
read more... 11/07/2024
Daily (11.07.2024): British gas and carbon prices weighed on the German year-ahead power contract on Wednesday
Oil prices increased for the first time in four sessions on Wednesday, driven by a further reduction in US crude inventories and a technical rebound. As a result, Brent crude edged 0.5% up, settling slightly above $85 per barrel, while WTI Crude rose by 1%, closing at $82.10 per barrel.
read more... 11/07/2024
OPEC sticks to 2024 oil demand view, sees strong travel season
OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2024, predicting robust fuel use in the summer months.
read more... 10/07/2024
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Engie breaks ground on 800 MWh battery in Belgium
Once completed, the four-hour battery energy storage project will operate under a 15-year contract with Elia, Belgium’s electricity grid operator, and be located next to Engie’s gas power plant in Vilvoorde.
read more... 10/07/2024
Russian LNG exports to Europe hit 6-month high but face drop
Russian LNG exports to Europe in June rose to a six-month high, provisional vessel-tracking data showed, amid “challenges” in shipping to Asia but exports would likely decline over the coming months, analysts said on Tuesday.
read more... 10/07/2024