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Daily (27.05.2022): Oil prices hit a two-month high on Thursday amid signs of tight supplies ahead summer
Crude oil prices soared to hit their highest levels in two months on Thursday after official US data showed the nation’s crude inventories eased for the second consecutive week, suggesting further tightness in the global market. The European Union’s disagreement with Hungary's plan to ban crude oil imports from Russia because of its invasion of Ukraine added further bullish pressure. Hence, Brent crude for July delivery surged by 3.0%, to settle at $117.40 per barrel. Meanwhile, US WTI crude increased by 3.4%, to close at $114.09 per barrel.
read more... 27/05/2022
Slovakia to develop geothermal energy to lower Russian energy dependency
Efforts to lower dependence on Russian energy is speeding up local geothermal projects in Slovakia that had been gaining traction before the invasion of Ukraine.
read more... 16/05/2022
Dutch to ban Russian energy imports by year end
The Dutch government plans to ban Russian energy imports by year end due to the latter’s war in Ukraine, it said on Friday.
read more... 25/04/2022
European Commission analysing higher 45% renewable energy target for 2030
The European Commission is assessing whether the European Union could achieve a higher target of a 45% share of renewable energy by 2030, instead of its proposed 40%, to accelerate its shift from Russian fossil fuels following the invasion of Ukraine.
read more... 21/04/2022
Daily (19.04.2022): Oil prices increased over 1% on Monday amid outages in Libya
Oil prices climbed on Monday amid an oil field shutdown in Libya, increasing concerns over tight global supply amid the Ukraine crisis. Hence, Brent crude rose by $1.46, or 1.3%, to settle at $113.16 a barrel. U.S WTI crude rose $1.26, or 1.2%, to settle at $108.21 a barrel.
read more... 19/04/2022