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Daily (22.11.2022): Energy complex climbed on Monday amid colder weather
Crude oil prices closed fractionally lower on Monday in a volatile trading session, after Saudi Arabia “categorically” denied a report that Opec was considering an increase in output that would help to counteract a loss of Russian crude supplies. Hence, Brent crude slipped by 0.2% to settle at $87.45 a barrel. U.S. WTI crude ended the day rather flat $80.04 a barrel.
read more... 22/11/2022
France spends 8.4 billion euros to help companies with energy bills
France will spend 8.4 billion euros ($8.67 billion) to help companies pay their energy bills, in a bid to cushion the impact of rising electricity and gas prices and help them compete with German businesses, its finance minister said on Saturday.
read more... 22/11/2022
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Germany wants to boost gas trading hub credit line to 20 bln euros
Germany wants to give an additional 5 billion euros' ($5.1 billion) worth of credit to the nationwide gas market trading hub to enable forward sales from gas storage facilities, according to a finance ministry document seen by Reuters.
read more... 22/11/2022
New Italian government's budget to boost spending to fight energy crisis
Italy's new right-wing government plans to announce some 30 billion euros in new spending on Monday in a budget for next year, mainly focused on curbing the impact of high energy prices while postponing some of its most lavish election promises.
read more... 22/11/2022
Daily (21.11.2022): Brent crude plummeted by 2.4% on Friday due to weaker demand following an increase in Covid-19 cases in China
Oil prices declined on Friday as the increase in Covid-19 cases in China, the world’s major crude importer, put pressure on oil demand. Hence, Brent crude fell by 2.4% to settle at $87.62 a barrel. WTI crude lost 1.9% to end at $80.08 a barrel.
read more... 21/11/2022