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Daily (21.11.2023): European spot electricity prices surged by over 30% on Monday amid weaker wind, reduced nuclear availability, and a rising demand
Oil prices rallied further on Monday amid speculations that OPEC+ is considering deeper cuts at the 26 November meeting in Vienna. Consequently, Brent crude settled at $82.32 per barrel, up by 2% day-on-day. WTI crude climbed by 2.6% to end at $77.83 per barrel.
read more... 21/11/2023
Daily (20.11.2023): Oil prices rebounded on Friday as the market's current attention is on the upcoming OPEC meeting this week
On Friday, oil prices bounced back after experiencing a significant drop the day before. The market's current attention is on the upcoming OPEC+ meeting this week, where there is potential for intervention to counteract the downward trend in prices. As a result, both contracts climbed by over 4%. Brent crude settled at $80.61 per barrel, while WTI crude ended at $75.89 per barrel.
read more... 20/11/2023
Daily (02.11.2023): Oil prices retreated on Wednesday after Fed leaves rates steady
Oil prices retreated on Wednesday after the release of the weekly US inventory figures and the Fed meeting. The central bank announced an extension of its pause in interest rate hikes. As a result, Brent crude tumbled by 3.2% to settle at $84.63 per barrel, while WTI crude ended at $80.44 per barrel, down about 1% day-on-day.
read more... 02/11/2023
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Emergency EU oil meeting focused on securing diesel supply
European Union officials discussed diversifying oil stocks and creating a buffer for diesel and gasoil during an emergency meeting of the bloc's oil coordination group, one told Reuters.
read more... 30/10/2023
G20 bloc fails to reach agreement on cutting fossil fuels
The Group of 20 (G20) major economies meeting in India failed on Saturday to reach consensus on phasing down fossil fuels following objections by some producer nations.
read more... 24/07/2023