Crude oil prices notched a small increase on Wednesday amid the news of further cuts from Saudi Arabia and Russia. However, worries over a slowdown in the global economy and further hikes of interest rates have limited the rise. Hence, Brent crude edged 0.5% higher at $76.65 a barrel. Meanwhile, WTI crude rose by 0.7% to end at $71.79 a barrel.
read more... 06/07/2023
Britain's National Grid expects to have enough capacity to meet demand for electricity this winter and will keep exploring additional options amid continued supply risks following Russia's invasion of Ukraine, it said on Thursday.
read more... 19/06/2023
On Wednesday, crude oil prices inched lower as a result of Fed’s decision to leave unchanged interest rate. Furthermore, higher supply from Russia and weak macroeconomic data from China has contributed to the overall downward trend in oil prices. Hence, Brent crude dropped by 1.5% to settle at $73.20 a barrel. Meanwhile, WTI crude traded at $68.27 a barrel, declining by about 1.7% day-on-day.
read more... 15/06/2023
On Monday, crude oil prices declined as a result of weak economic data from China and the possibility of interest rate hikes. Furthermore, higher supply from Russia has contributed to the overall downward trend in oil prices. Hence, Brent crude dropped by 4% to settle at $71.84 a barrel. Meanwhile, WTI crude traded at $67.12 a barrel, declining by over 4% day-on-day.
read more... 13/06/2023
Europe may still face a shortfall in energy supply this winter, depending on the return of Asian LNG demand, temperatures and the ramp up of French nuclear power, IEA executive director Fatih Birol told Montel on Wednesday.
read more... 09/06/2023