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IEA raises global oil demand outlook on fuel switching
The International Energy Agency has modestly raised its global demand outlook for this year due to a surge in oil use for power generation and gas-to-oil switching in the wake of soaring European natural gas prices.
read more... 12/08/2022
Daily (08.08.2022): Oil prices ended the week at their lowest levels since February
Strong U.S. job market growth helped oil prices recover some of their losses last week, but they still ended the week at their lowest levels since February due to concerns that a recession could affect fuel demand. As such, Brent crude oil price rose by 0.9% to $94.92, while WTI crude ended 0.5% higher to settle at $89.01.
read more... 08/08/2022
EU invests €1.8bn in energy transition technologies
The EU today announced €1.8bn ($1.8bn) of funding for 17 large-scale renewable energy and decarbonisation projects — including hydrogen, renewable power generation and advanced biofuels projects.
read more... 13/07/2022
(Daily 11.07.2022): Oil prices increased on Friday due to still tight global fuel supplies
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
EU plans hydrogen deal with Namibia as it pulls away from Russian energy
The European Union is planning a deal with Namibia to support the country’s nascent green hydrogen sector and boost its own imports of the fuel, EU and Namibian officials said, as the bloc works to reduce its dependence on Russian energy.
read more... 05/07/2022