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Shell’s largest European refinery shuts down after fire
After fire broke out at one of its biggest refineries in Europe, Shell said they will temporarily shut it down.
read more... 01/08/2017
Daily (01.08.2017): European spot electricity prices soared by 60-70% on Monday on high air conditioning demand
Oil was slightly bullish near two-month highs on Monday, putting July 2017 to become the strongest month so far this year. Tightening U.S. market after heavy inventory falls and slower new oil rig additions supported the prices. Sentiment in the oil market is very bullish as some OPEC and non-OPEC members will meet on Aug. 7-8 in Abu Dhabi to assess compliance with production cuts. Also, the U.S. is considering imposing sanctions on Venezuela's oil sector, pushing up the prices. Brent crude rose by 0.25% to $52.65 a barrel, while WTI price rose by almost 1% to close at $50.17 a barrel.
read more... 01/08/2017
Renewable power accounted for nearly 90% of Europe’s new power in 2016
Renewable power sources added to the European electricity grid accounted for nearly 90% of last year’s new power, which is a sign of the continent’s transition to clean energy.
read more... 01/08/2017
Daily (28.07.2017): Brent prices soared to 2-month high on Thursday - $51.49 a barrel
Oil prices continued to rise on Thursday with support from a huge slide in U.S. crude inventories. Kuwait, UAE and Saudi Arabia, fellow members of the OPEC, have also promised export cuts. U.S. fuel exports are on track to hit another record in 2017, making foreign fuel markets increasingly important for the profit margins of U.S. refiners. Also, Europe's major energy firms are turning a corner after a 3-year slump, Royal Dutch Shell, France's Total and Norway's Statoil reported sharp rises in cash flow from second quarter operations. Brent crude jumped by 1% to $51.49 a barrel, while WTI price jumped by 0.8% to close at $48.75 a barrel.
read more... 28/07/2017
Daily (25.07.2017): European carbon prices rose on Monday to €5.20 level
Oil prices rose on Monday, cancelling Friday’s losses after leading OPEC producer Saudi Arabia pledged to cut its exports. Saudi Energy Minister Khalid al-Falih declared his country would considerably limit crude oil exports in August. Brent crude increased by 1.12% to $48.60 a barrel, while WTI price climbed by 1.25% to close at $46.34 a barrel.
read more... 25/07/2017