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Daily (29.06.2023): Oil prices climbed on Wednesday as crude oil inventories in the US witnessed a decrease
On Wednesday, crude oil prices increased amid a larger-than-expected drop in US inventories. Moreover, the price received a boost due to expectations that demand for gasoline will increase in the US during 4th July weekend. Hence, Brent crude rose by 2.5% to settle at $74.03 a barrel. Meanwhile, WTI crude surged by 2.7% to end at $69.56 a barrel.
read more... 29/06/2023
Italy energy minister sees LNG terminals covering 50% of gas needs
Italy's Environment and Energy Minister Gilberto Pichetto Fratin said on Wednesday that deliveries by ship of liquefied natural gas (LNG) were a reliable source of energy that could cover 50% of the country's gas needs.
read more... 29/06/2023
Daily (20.06.2023): European long-term power and gas prices have stabilised on Monday
On Monday, crude oil prices slipped amid increased concerns about oil demand following China's decision to reduce its benchmark lending rate. Hence, Brent crude and WTI crude decreased by 0.7% to settle at $79.09 a barrel and $71.31 a barrel, respectively.
read more... 20/06/2023
EU told to slash greenhouse gas emissions 90-95% by 2040
The European Union should commit to slash its net greenhouse gas emissions by as much as 95% by 2040, official advisers said on Thursday, as Brussels prepares a new goal to curb Europe's contribution to climate change.
read more... 16/06/2023
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Romania's OMV Petrom hails largest oil find in decades
Romania's OMV Petrom said it has made a series of oil and gas discoveries in southern Romania including its largest crude find "in decades". The discoveries could help the firm reduce the decline in its upstream production and increase the intake of domestic crude at its 85,000 b/d Petrobrazi refinery in Ploiesti.
read more... 15/06/2023