Crude oil prices fell for a fifth consecutive session on Thursday as traders ignored the closure of a significant Canada-to-U.S. crude pipeline, instead focusing on worries that the global economy would slow down and reduce the demand for fuel. Hence, Brent crude settled at $76.15 a barrel, decreasing by $1.02, or 1.3%. U.S. WTI crude settled at $71.46 a barrel, shedding by 55 cents, or 0.8%.
read more... 09/12/2022
Britain approved its first new deep coal mine in decades on Wednesday to produce the high-polluting fuel for use in steelmaking, a decision which drew criticism from opponents who say it will hinder climate targets.
read more... 08/12/2022
The Italian government expects to raise around $4.2 billion (4 billion euros) from a new windfall tax on energy companies and a price cap on the electricity produced by coal, fuel oil, or renewable power generation, officials at the central bank, Bank of Italy, said on Monday.
read more... 07/12/2022
Crude oil prices dropped to the lowest level since January following OPEC’s decision not to cut production any further. Moreover, stronger-than-expected US economic data fuelled speculation that the Federal Reserve would keep its policy tight to fight inflation. Hence, Brent crude decreased by $2.89, or 3.4%%, to settle at $82.68 a barrel. WTI crude fell by $3.05, or 3.8%, to end at $76.93 a barrel.
read more... 06/12/2022
COPENHAGEN, Dec 2 - Global progress toward energy efficiency has accelerated this year as a result of high energy prices and disruptions to fuel supply but still not enough to meet climate change targets, the International Energy Agency (IEA) said on Friday.
read more... 02/12/2022