Oil prices declined for the third consecutive day on Wednesday in a sluggish market, despite a rebound in U.S. gasoline demand. The EIA's weekly report showed gasoline demand rising to 9.3 million barrels per day for the week ending May 17, after six weeks below 9 million barrels per day. As a result, Brent crude dropped by approximately 1.2% to $81.90 per barrel, while WTI Crude decreased by 1.4% to settle at $77.57.
read more... 23/05/2024
Oil prices extended losses on Tuesday, in a market that shrugged off geopolitical risk and focused on the absence of supply disruptions, OPEC's supply capacity and Fed vice-president speeches. As a result, Brent crude dropped by about 1% to close at $82.88 a barrel, while WTI crude lost 1.4% to settle at $79.80 per barrel.
read more... 22/05/2024
Construction has started on the German portion of an interconnector linked to the UK with the milestone marked by a ground-breaking ceremony in Wilhelmshaven.
read more... 22/05/2024
The UK government aims to build a large nuclear power plant in northern Wales as it seeks to boost the stable, low-carbon electricity source alongside wind farms to reach its climate goals.
read more... 22/05/2024
Oil prices increased on Friday due to indications of rising demand in major consumers, the US and China. China's industrial production surged by 6.7% year-on-year in April, potentially increasing demand. Additionally, severe forest fires in western Canada endangered the oil-producing town of Fort McMurray, which outputs over 2 million barrels daily. As a result, Brent crude rose by 1%, closing just below $84 a barrel, while WTI crude also climbed 1%, hovering around $80 per barrel.
read more... 20/05/2024