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Daily (15.10.2021): Oil prices climbed to multi-year highs on Thursday as Saudi Arabia dismissed calls for additional OPEC+ supplies
Crude oil prices climbed to hit multi-year highs on Thursday after Saudi Arabia, one of the main crude oil producers in the world, rejected to follow the policy of OPEC+ to increase their output for price controls. Additionally, the International Energy Agency (IEA) said surging natural gas prices could boost demand for oil among power generators. Hence, Brent crude rose by 1% to settle at $84.00 a barrel, the highest level since October 2018. U.S. WTI crude increased by 1% to close at $81.31 a barrel, hitting a seven-year record high.
read more... 15/10/2021
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UNEP, IEA and Italy launch new initiative on power system modernisation
A new initiative aimed at accelerating progress on power system modernisation and the effective utilisation of demand-side resources has been launched.
read more... 05/10/2021
Daily (17.09.2021): European front-year electricity prices dropped by about 7% on Thursday in tandem with lower gas
Oil prices were rather steady on Thursday after hitting a multi-week high a day earlier. Prices were partly supported by the outlook of recovering oil demand as indicated by OPEC and IEA this week. On the other hand, the threat of disruptions by hurricane Nicholas receded. Hence, Brent crude added 0.3% to settle at $75.67 a barrel. U.S. WTI crude ended unchanged at $72.61 a barrel.
read more... 17/09/2021
Daily (16.08.2021): Oil prices lost 1% on Friday, on IEA's lowered forecast for global oil demand
Crude oil prices extended losses on Friday, on lowered forecasts for global oil demand from the IEA, due to the progression of the pandemic this year. Hence, Brent oil lost 1% at $70.59 a barrel and WTI crude fell by 0.9% to $68.44 a barrel.
read more... 16/08/2021
Daily (13.08.2021): Oil prices took a breather on Thursday amid fading expectations that global oil demand will outstrip supply
Oil prices steadied on Thursday after the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand. Hence, Brent crude slipped by 0.2% to settle at $71.31 a barrel. U.S. WTI crude lost 0.2% to end at $69.09 a barrel.
read more... 13/08/2021