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Daily (08.12.2020): Oil prices strated the week on the back foot amid renewed COVID-19 fears
Crude oil prices closed lower on Monday, starting the week with a negative performance, as concerns about the surging number of coronavirus cases in many countries overshadowed positive impact from COVID-19 vaccine news and smaller than expected increase in output by the OPEC+ alliance. Heightened tensions between the United States and China put further pressure on WTI price. Hence, Brent crude declined by 0.9% to settle at $48.79 a barrel. Meanwhile, WTI crude decreased by 1% to end at $45.46 a barrel.
read more... 08/12/2020
Czechs eyes coal phase-out by 2038
The Czech coal commission recommended to phase out coal by 2038. Environmental groups, who fought for 2033, were outvoted and walked out of the commission in protest.
read more... 08/12/2020
Global floating wind capacity ‘to grow 2,000-fold by 2050’
A new study predicts installed capacity of floating wind will soar from its current level of 100MW to as much as 250GW by mid-century
read more... 08/12/2020
Finland to build new power substation
Finnish transmission system operator Fingrid has started building a new substation in southern Finland that will facilitate the connection of up to 1GW of new wind power capacity to the grid.
read more... 08/12/2020
Daily (07.12.2020): An agreement at the OPEC+ summit boosted oil prices on Friday
The positive conclusion of the OPEC+ summit and the decision of its members to increase production gradually over the course of 2021, lent support to crude oil prices, sending them higher on Friday. As such, Brent crude for February delivery edged 1.1% higher at $49.25 a barrel, while WTI oil ended 1.4% up at $46.26 a barrel.
read more... 07/12/2020