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Daily (03.03.2022): Gas prices spiked on Wednesday amid fears of disruptions to Russian imports
Oil prices climbed on Wednesday hit their highest levels since 2008 after OPEC and its oil-producing allies, which includes Russia, decided to hold production steady. Hence, Brent crude soared by 7.6% to end at $112.93 a barrel. U.S. WTI crude surged by 7% to settle at $110.60 a barrel.
read more... 03/03/2022
Hyundai will invest $16B in EVs by 2030
Hyundai Motor Co. will invest 19.4 trillion won ($16.15 billion) in electrification through 2030 the company accelerates its electric car ambitions with a new target to sell 1.87 million pure EVs by 2030 and launch 17 new EV models across the Hyundai and Genesis brands.
read more... 03/03/2022
50Hertz to invest €5.6bn in offshore grid connections
The electricity transmission system operator 50Hertz is to focus its investments on the grid connections of large offshore wind farms in the Baltic and North Seas.
read more... 03/03/2022
Germany steps up efforts to cut Russian energy reliance
Germany on Wednesday took more steps to diversify its energy supplies in a bid to cut dependence on key supplier Russia, announcing a 1.5 billion euro order for non-Russian liquefied natural gas (LNG) and slowing its exit from coal.
read more... 03/03/2022
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Daily (02.03.2022): Brent crude surged towards $105 a barrel on Tuesday despite IEA agreement
Oil prices surged on Tuesday with Brent crude hitting its highest level since 2014 as Russia’s invasion of Ukraine entered its seventh day. However, IEA’s decision to release 60m bbl of reserves to alleviate price hikes did little to calm markets. Hence, Brent crude soared by 4% to settle at $104.97 a barrel.
read more... 02/03/2022