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EU to call for early fossil fuel phase out at COP28
The EU has said it will call for global unabated fossil fuels to be phased out “well before 2050” at the UN COP28 climate summit next month in Dubai.
read more... 17/10/2023
Daily (13.10.2023): UK gas prices surged on Thursday amid heightened geopolitical risk in the Middle East, colder weather forecast
Oil prices ended mixed on Thursday, with WTI crude weighed down by a surprise and massive rise in US crude inventories, which has raised fears about global oil demand. US Commercial crude inventories surged by 10.2 million barrels last week. As a result, WTI crude ended at $82.91 per barrel, down 0.7% day-on-day. On the other hand, Brent crude moved sideways at $86.00 per barrel.
read more... 13/10/2023
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France, Germany to aim for energy accord ‘by the end of the month’
Over the years, France and Germany have developed radically diverging electricity systems. While Paris puts large-scale nuclear power plants at the heart of its market, Germany is moving towards a smaller-scale decentralised power generation model relying on 100% % renewable energy.
read more... 12/10/2023
Daily (10.10.2023): British gas prices turned bullish on Monday amid supply concerns over potential Australia LNG strikes and tension in the Middle East
On Monday, crude oil prices increased amid rising geopolitical risk in the Middle East. Hence, Brent crude surged by 4.2% to end at $88.15 a barrel. Meanwhile, U.S. WTI crude soared by 4.3% to $86.38 a barrel.
read more... 10/10/2023
Daily (04.10.2023): German spot power surged dramatically by over 200% due to reduced wind energy generation
On Tuesday, crude oil prices slightly increased from earlier lows, however, the rebound was limited by the prospect of higher interest rates and concerns over the health of the global economy. Hence, Brent crude edged 0.2% higher at $90.92 a barrel. Meanwhile, U.S. WTI crude rose by 0.5% to $89.23 a barrel.
read more... 04/10/2023