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Daily (09.09.2022): Oil prices turned bullish again on Thursday due to forecasts for stronger demand
Oil prices jumped on Thursday, on prediction of strong demand, and export threats with suspension of oil and gas from Russia to some buyers. Consequently, Brent crude surged by 1.3% to $89.15 a barrel, and WTI crude oil soared by 1.9% to $83.54 a barrel.
read more... 09/09/2022
UK cuts energy price cap, targets more oil, gas
The UK government will fix the energy retail price cap at £2,500/yr ($2,870/yr) for a 'typical' home for two years and will seek to accelerate domestic supply by launching a new North Sea oil and gas licensing round and lifting a moratorium on hydraulic fracturing (fracking), prime minister Liz Truss said today.
read more... 09/09/2022
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Finland starts two backup power plants to prevent blackouts
Finnish power grid operator Fingrid started up two backup power plants on Thursday to balance the country's electricity system and prevent blackouts while repairs were made at a reactor seen as crucial to ensure reliable power supplies this winter.
read more... 09/09/2022
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Germany to subsidise basic level of power for homes, businesses
Germany plans to subsidise a basic level of electricity usage for households and set aside cheaper power for small and medium-sized businesses, according to measures set out in an Economy Ministry paper seen by Reuters on Thursday.
read more... 09/09/2022
Daily (08.09.2022): Brent crude oil decreased to a 7-month low on Wednesday
The price of crude oil decreased to a 7-month low on Wednesday, influenced by forecasts of weakening demand and flagging global growth. As such, Brent crude settled 5.2% lower at $88 a barrel. WTI crude fell by 5.7% to $81.94.
read more... 08/09/2022