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Daily (29.03.2022): Oil prices dropped by 7% on Monday amid lockdown in China
Crude oil prices dropped sharply on Monday after China, the second-largest oil consumer and largest importer began a Covid-19 lockdown in financial and manufacturing hub Shanghai, raising fears of demand destruction. Hence, Brent crude fell by $8.17, or 6.8%, to settle at $112.48 a barrel. U.S. WTI crude slumped by $7.94, or about 7%, to settle at $105.96 a barrel.
read more... 29/03/2022
Germany's Scholz reiterates opposition to immediate EU sanctions on Russian energy imports
German Chancellor Olaf Scholz reiterated March 23 his opposition to any immediate curbs on EU imports of Russian fossil fuels, warning that any such moves would plunge the region into an economic recession.
read more... 24/03/2022
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Daily (16.03.2022): Oil prices fell below $100 a barrel on Tuesday amid China lockdown, hopes for a nuclear deal
Crude oil prices fell below $100 a barrel on Tuesday after China, the world’s largest oil importer, imposed new lockdowns to fight against an outbreak of the coronavirus, move which could jeopardize demand. Suggestions that Russia could allow the revival of the nuclear deal with Iran to go ahead put further downward pressure on prices. Hence, Brent crude shed by 6.5% to settle at $99.91 a barrel. U.S. WTI crude dropped by 6.4% to end at $96.44 a barrel.
read more... 16/03/2022
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Germany woos South Africa to replace Russian coal
Germany’s plan to halt all imports of Russian coal this year has deepened market efforts to secure alternative material in the shortest possible time, with South Africa – formerly one of Europe’s main suppliers – one of the most favourable candidates, market participants said.
read more... 15/03/2022
EU leaders seek escape route from Russian fossil fuels, weigh energy investment plan
European Union leaders will tackle ways to wean themselves off Russian fossil fuels on Thursday (10 March) and debate how quickly to ditch their key supplier, with countries split over whether to sanction oil and gas imports as Moscow wages war in Ukraine.
read more... 11/03/2022