The ECB rate hike and larger gasoline stocks in the United States both contributed to Thursday's decline in oil prices. On the other hand, the return of Libyan oil supplies and the restart of Russian gas exports to Europe relieved supply constraints. Thus, Brent crude ended 2.9% lower at $103.86 a barrel. WTI crude fell by 3.5% to settle at $96.35 a barrel.
read more... 22/07/2022
An EU proposal calling on member states to cut their gas use by 15% to prepare for potential cuts to supplies of Russian gas is facing resistance from governments, casting doubt on whether they will approve the emergency plan next week.
read more... 22/07/2022
The European Commission is confident the EU can cope with a complete cut in Russian gas supplies this winter, EU internal market commissioner Thierry Breton said on Wednesday.
read more... 21/07/2022
Oil prices increased on Friday due to still tight global fuel supplies, even though investors remained concerned about a possible drop in demand due to recession. Thus, Brent crude soared by 2.3% to settle at $107.02 a barrel, while WTI soared by 2% at $104.79 a barrel.
read more... 11/07/2022
The Polish cabinet adopted legislation easing rules on the development of wind farms, as the country aims to boost its installed capacity and diversify energy supplies.
read more... 06/07/2022