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Daily (07.01.2020): Oil prices ended at their highest levels since February after a surprise Saudi output cut
Oil prices continued to climb on Wednesday, hitting the highest levels since late February 2020 after Saudi Arabia announced a major cut in black gold production. Meanwhile, a larger-than-expected US crude inventory draw added further support to oil prices. Hence, Brent crude rose by 70 cents, or 1.3%, to settle at $54.30 a barrel. U.S. WTI crude settled 70 cents higher, or 1.4%, to end at $50.63 a barrel.
read more... 07/01/2021
Power flows with UK ‘less efficient’ since Brexit
Additional red tape and customs declarations means electricity will no longer flow as smoothly as it used to when the UK was a full member of the European Union, leading to “increased costs of energy trading,” an EU spokesperson told EURACTIV.
read more... 07/01/2021
Sales of battery-electric vehicles in Germany triple in 2020
Sales of battery-electric vehicles in Germany increased three-fold to more than 194,000 units in 2020, the country's road-traffic regulator said on Wednesday, citing the appeal of a more diversified product offering and of more reliable technology.
read more... 07/01/2021
U.S. says BP pays $24.4 mln but challenges natgas manipulation fine in court
The U.S. Federal Energy Regulatory Commission (FERC) alleged BP violated the Natural Gas Act by manipulating the next-day gas market at Houston Ship Channel from mid-September through Nov. 30, 2008.
read more... 07/01/2021
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Daily (06.01.2020): Oil prices surged by about 5% on Tuesday amid OPEC output deal, Iran tensions
Crude oil futures rallied on Tuesday, after OPEC+ reached an agreement on production curbs starting in February, with Saudi Arabia voluntarily taking on a larger reduction. Continuing tensions over Iran’s seizure of a South Korean vessel brought further support to oil prices. Hence, Brent crude jumped by $2.51, or 4.9%, to settle at $53.60 a barrel. Meanwhile, U.S. WTI crude surged by $2.31, or 4.9%, to close at $49.93 a barrel.
read more... 06/01/2021