British lawmakers approved a 25% windfall tax on oil and gas producers in the British North Sea on Monday, which the government says will raise 5 billion pounds ($5.95 billion) in one year to help people struggling with soaring energy bills.
read more... 12/07/2022
Oil prices recovered on Monday as supply side issues due to weaker OPEC output, unrest in Libya and sanctions on Russia outweighed fears of global recession. Hence, Brent crude increased by 1.7% to settle at $113.50 a barrel. US WTI crude gained 1.8% to end at $110.41 a barrel.
read more... 05/07/2022
Oil prices lost ground on Tuesday as investors worried that the US Federal Reserve would raise interest rates sooner than expected. Hence, Brent crude decreased by 0.9%, to settle at $121.17 a barrel. U.S. WTI crude slipped by 0.7%, to settle at $118.93 a barrel.
read more... 15/06/2022
Oil prices increased slightly in a choppy session on Monday as tight global supplies offset concerns that demand would be stifled by a resurgence of COVID-19 cases in Beijing and more interest rate hikes. Hence, Brent crude rose by 0.2% to settle at $122.27 a barrel. U.S. WTI crude added 0.2% to settle at $120.93 a barrel.
read more... 14/06/2022
The European Parliament will vote on Wednesday on a raft of EU climate change policies to cut Europe's emissions over the next decade, with the outcome of the votes still uncertain as lawmakers are split over whether to uphold or weaken the plans.
read more... 08/06/2022