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Daily (22.02.2024): Oil prices rose on Wednesday as geopolitical tensions offset oversupply concerns
On Wednesday, oil prices rose despite worries about oversupply dampening investor sentiment. Heightened tensions in the Middle East and ongoing attacks on commercial ships in the Red Sea provided support to oil prices. Ahead of the publication of weekly US crude oil inventories, Brent crude settled at $83.03 a barrel, and WTI crude stood at $77.91 a barrel, both contracts increasing by about 1% day-on-day.
read more... 22/02/2024
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Power subsidies key to Germany’s green transition
Germany’s green transition will require energy price subsidies to be realised, said economy minister Robert Habeck on Wednesday.
read more... 22/02/2024
UK urged to increase offshore wind capacity
Energy UK‘s latest analysis has emphasised the critical need for a substantial rise in offshore wind capacity during the next two Contracts for Difference (CfD) auctions.
read more... 22/02/2024
Daily (21.02.2024): British near-term gas prices turned bullish on Tuesday due to reduced Norwegian flows and stronger demand
On Tuesday, oil prices fell due to concerns over a recession and weaker demand. Brent crude dropped by 1.5% to $82.34, while WTI Crude decreased by approximately 2% to $77.04, despite potential supply disruptions caused by the ongoing political conflict in the Middle East.
read more... 21/02/2024
EDF extends UK nuclear outages
EDF Energy has announced further extensions to the outages of four nuclear reactors in the UK.
read more... 21/02/2024