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Daily (26.05.2023): An overall bearish energy complex on Thursday
Crude oil prices fell sharply on Thursday, dampened by statements from Russia's Deputy Prime Minister for Energy, who rejected a further production cut at the end of the next OPEC+ meeting. Remaining fears over the possibility of a US debt ceiling default have put further pressure on prices. Hence, Brent crude posted a 2.7% decline at $76.26 a barrel. Meanwhile, WTI crude plunged by more than 3% to close at $71.83 a barrel.
read more... 26/05/2023
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G7 backs liquified gas as ‘temporary’ solution, to dismay of climate activists
The Group of Seven rich nations put support for gas investments back into their communiqué on Saturday (20 May), calling it a “temporary” step as they try to de-couple from Russian energy, in a move climate activists say may hurt climate goals.
read more... 22/05/2023
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EU watchdog sees concentration, liquidity risks in gas derivatives
Europe's $4.5 trillion natural gas derivatives market has become less transparent since Russia's invasion of Ukraine and faces risks due to a small number of market players and low liquidity, the European Union's securities watchdog said on Friday.
read more... 15/05/2023
Energy Coal confirms Spain did not import Russian coal
Italy-headquartered coal trader Energy Coal confirmed to Argus that a recent shipment of coal carried on the 9,679t Sava discharging at Gijon was of non-Russian origin, despite media reports last week to the contrary.
read more... 04/05/2023
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German energy regulator expects lower power reserve needs this winter
Germany's energy regulator said on Friday it has asked for less reserve power capacity to avoid supply shortfalls in the coming winter than it did last year, citing increased capacities reactivated when Russia stopped gas flows last year.
read more... 02/05/2023