Crude oil prices prolonged their gains, to hit a one-week high on Wednesday as optimism about the global economy and concerns about the impact of sanctions on Russian crude output outweighed a massive, unexpected build in US crude stocks. Brent crude soared by $2.57, or 3.2%, to settle at $82.67 a barrel. U.S. WTI crude increased by $2.29, or 3.1%, to settle at $77.41 a barrel.
read more... 12/01/2023
German power suppliers may have to change their retail offers from 2025 as the government wants customers to benefit from adapting demand to high or low wholesale prices, the economy minister said on Wednesday.
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Sweden is preparing legislation to allow the construction of more nuclear power stations to boost electricity production in the Nordic country and bolster energy security, Prime Minister Ulf Kristersson said on Wednesday.
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France’s lower house of parliament adopted a draft bill aimed at speeding up the development of renewables late on Tuesday although the industry fears it may create more delays.
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Crude oil prices increased slightly on Tuesday as the U.S. government predicted record global petroleum consumption next year and the dollar remained near seven-month lows. Brent crude rose by 45 cents or 0.6%, to settle at $80.10 a barrel. Meanwhile, U.S. WTI crude ended 49 cents, or 0.6% higher at $75.12 per barrel.
read more... 11/01/2023