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Daily (27.04.2021): Oil prices ended with a slightly bearish sentiment on Monday amid increasing COVID-19 figures in Asia
Crude oil prices corrected slightly lower on Monday as the resurgence of COVID-19 cases in Japan and India set a sour tone for oil trading. The losses were limited after OPEC+ joint technical committee (JTC) has kept its forecast for growth in global oil demand this year. Hence, Brent crude slipped by 0.7% to $65.65 a barrel. Meanwhile, U.S. WTI crude eased by 0.4% to $61.91 a barrel.
read more... 27/04/2021
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Ørsted, Enefit to form Baltic offshore wind JV
Danish energy company Ørsted A/S (CPH:ORSTED) will team up with a unit of Estonian state-owned sector player Eesti Energia AS, aiming to jointly develop offshore wind projects in the Baltic countries.
read more... 27/04/2021
Nearly 81% of Brits still find EVs ‘too expensive’
More than four-in-five drivers in the UK believe electric vehicles (EVs) are still too expensive. A new report by the AA reveals the majority of Brits still find switching to an EV a rather pricy move while nearly 63% have never heard of the plug-in grant, one of the government’s subsidies to help them make the purchase.
read more... 27/04/2021
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Israeli energy giant plans $1.1B gas deal with UAE company
One of Israel's biggest energy companies plans to sell its share of a large offshore gas field to a firm based in the United Arab Emirates for an estimated $1.1 billion, the biggest such deal since the two countries normalised ties last year. Delek Drilling, owned by the Israeli billionaire Yitzhak Tshuva, said Monday that it signed a memorandum of understanding with Mubadala Petroleum, part of a conglomerate owned by the government of Abu Dhabi. The proposed deal was detailed in a notification filed with Israeli authorities.
read more... 27/04/2021
Daily (26.04.2021): Crude oil prices gained 1% on Friday due to a halt in Libyan exports
Crude oil prices closed higher on Friday, supported by disruptions in Libyan supply. A state of force majeure on one of the main oil terminals in Libya was declared by the NOC, thus interrupting the country’s exports. As a result, Brent crude increased by 1.1% to $66.11 a barrel and WTI oil rose by 1.2% to $62.14 a barrel.
read more... 26/04/2021