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Daily (31.03.2021): Oil prices pulled back by over 1% on Tuesday as Suez Canal opened, focus shifts to OPEC+ meeting
Crude oil prices retreated on Tuesday amid a stronger dollar and as ships resumed moving through the Suez Canal, with traders turning their attention to a meeting of the OPEC+ later this week. Hence, Brent crude declined by 84 cents, or 1.3%, to settle at $64.14 a barrel. Meanwhile, U.S. WTI crude fell by $1.01, or 1.6%, to settle at $60.55 a barrel.
read more... 31/03/2021
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Wind Power Industry Set To Install 1 TW New Capacity This Decade
The world’s wind energy industry could be on track to install nearly 1 terawatt (TW) of new capacity between 2021 and 2030, driven by surging installations in China, Europe, and the United States, energy consultancy Wood Mackenzie said in new research.
read more... 31/03/2021
European power prices to ease after 2023 on lower gas prices, renewable capacity gains
European power prices are forecast to remain at current elevated levels until 2023 on capacity closures, slight demand gains and rising carbon prices, according to S&P Global Platts Analytics.
read more... 31/03/2021
Daily (30.03.2021): Oil prices continued to add ground on Monday amid suggestions that OPEC+ may extend output cuts to May
Oil prices rose slightly on Monday, neglecting traffic resumption through Suez Canal, with investors mostly watching the next ministerial summit of OPEC+ countries later in the week. Additionally, reports that Russia would support a rollover of oil output curbs to May contributed to strength in oil prices. Hence, Brent crude rose by 0.6% to settle at $64.98 a barrel. At the same time, U.S. WTI crude increased by 1% to end at $61.56 a barrel.
read more... 30/03/2021
Norway readies first offshore wind tenders to spur oil industry transition
Norway will press ahead with North Sea wind power this year, awarding its first development licences as it spurs the transition of its oil and gas industry and despite its already plentiful renewables supply.
read more... 30/03/2021