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Daily (10.08.2017): European spot electricity prices rose sharply on Wednesday

Oil prices increased above $52 a barrel on Wednesday as U.S. crude inventories last week fell more than expected. This drop raised hopes that an OPEC-led effort to wipe out a 3-year, price-sapping supply glut is working. Brent surged by 1.07% to close at $52.70 a barrel, while WTI price rose by almost 0.8% to end at $49.56 a barrel.

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UN receives official notice of US withdrawal from Paris climate agreement

The US has sent an official notice stating its intention to retreat from the Paris climate change agreement. UN Secretary-General António Guterres got the notification regarding US’ exit from the pact, unless more profitable conditions could be suggested.

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Germany acquires 235,000 carbon credits to offset business travel

The German government intends to compensate for the climate footprint of its official travel by starting a bidding process to acquire more than 235,000 carbon credits.

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Daily (09.08.2017): Oil prices were bearish on Tuesday due to higher oil exports

Oil prices were bearish on Tuesday on increasing exports from United States, Libya and Nigeria. A recent recovery in Libya's oil output, and higher production in Nigeria, have complicated OPEC's efforts to curb supply. The U.S. EIA petroleum status report will be published on Wednesday, giving details on stockpiles and refinery runs that are expected to decline. Brent crude decreased by 0.44% to close at $52.14 a barrel, while WTI price fell by 0.45% to end at $49.17 a barrel.

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Californian Scientists work on making polluted lake into biofuel source

Scientists from Sandia National Laboratories are trying to turn the 350-square-mile Salton Sea in Southern California into a productive source of algae biofuel.

read more... 09/08/2017

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