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Daily (20.05.2024): Oil prices increased by 1% on Friday, driven by encouraging indicators of growing demand from both China and the US
Oil prices increased on Friday due to indications of rising demand in major consumers, the US and China. China's industrial production surged by 6.7% year-on-year in April, potentially increasing demand. Additionally, severe forest fires in western Canada endangered the oil-producing town of Fort McMurray, which outputs over 2 million barrels daily. As a result, Brent crude rose by 1%, closing just below $84 a barrel, while WTI crude also climbed 1%, hovering around $80 per barrel.
read more... 20/05/2024
Franco-German lawmakers want to revive energy cooperation between the EU powerhouses
The Franco-German parliamentary assembly is set to adopt a declaration advising Paris and Berlin to mend their differences in energy policy and begin moving on hydrogen and geothermal.
read more... 20/05/2024
UK offshore wind investment to hit £15bn a year by 2030
A new report by Offshore Energies UK (OEUK) outlines significant opportunities and challenges for the expansion of offshore wind energy in the UK.
read more... 17/05/2024
Honda doubles EV investment to $64B, fleshes out 7 new models in 0 Series
Honda is doubling its investment in electric vehicles to $64 billion through the end of the decade to slash the cost of producing its next-generation EVs, bring battery production inhouse and speed up its rollout of a new range of seven profitable EVs by 2030.
read more... 17/05/2024
Daily (15.05.2024): Oil prices declined by over 1% on Tuesday despite bullish OPEC outlook
Oil prices fell on Tuesday as signs of lower consumption in the US and a stronger dollar offset the risk premium associated with the Middle East situation and bullish OPEC outlook. As a result, Brent crude stood at $82.38 per barrel, while WTI crude settled slightly above $78 per barrel, with both contracts falling by more than 1% day-on-day.
read more... 15/05/2024