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Daily (02.05.2024): Gas and carbon prices lost ground on Wednesday, driven by light trading and muted demand due to bank holiday
Oil prices experienced a significant decline on Wednesday due to various signs indicating subdued demand, especially with the upcoming US travel season. Consequently, Brent crude tumbled by 5% to settle at $83.44 per barrel, and WTI crude dropped by 3.6% to close at $79 per barrel.
read more... 02/05/2024
Daily (26.04.2024): European near-term gas and power prices surged on Thursday as reduced Norwegian flows and colder weather boosted demand
Oil prices posted modest gains on Thursday, supported by intensifying Middle East tensions. However, a pessimistic global demand outlook capped gain. Thus, Brent crude rose by 1.1% to settle slightly above $89 a barrel, while WTI crude edged 1% higher at $83.57 a barrel.
read more... 26/04/2024
Daily (25.04.2024): European carbon prices rose on as Commitment of Traders' data failed to boost sentiment
Oil prices closed lower on Wednesday, pressured by weak gasoline demand in the US and a decrease in geopolitical risk premium. However, an unexpected decline in US crude inventories helped mitigate these losses by providing some support to the market. Consequently, Brent crude fell by 0.5% to settle slightly above $88 a barrel, while WTI crude reached $82.81 a barrel, falling by 0.7% day-on-day.
read more... 25/04/2024
Norway-German H2 pipeline hinges on demand: Equinor
Norway and Germany have renewed a commitment to the idea of a hydrogen pipeline, but Norwegian state-owned Equinor expects the link will come in a secondary stage of development as it is focused on hydrogen production in mainland Europe as a first step.
read more... 25/04/2024
IEA sees electric car boom displacing up to 12 million b/d of oil by 2035
The International Energy Agency raised April 23 its estimates for global oil demand displacement from booming sales of electric vehicles citing growing policy impetus in key markets.
read more... 24/04/2024