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Daily (11.11.2020): European Cal’21 power prices reversed gains on Tuesday as vaccine euphoria vanished
Crude oil prices continued to add ground on Tuesday amid optimism generated by a vaccine against COVID-19 and a possible intervention of OPEC + alliance. Moreover, bigger than expected weekly U.S. oil storage draws helped WTI to extend gains. Hence, Brent crude soared by $1.21, or 2.9%, to settle at $43.61 a barrel. Meanwhile, U.S. WTI crude increased by 1.07, or 2.7%, to end at $41.36 a barrel.
read more... 11/11/2020
North Sea major files for CO2 storage licence as part of UK’s net-zero journey
North Sea oil and gas independent Chrysaor has submitted a licence application for the purpose of storing CO2 in a depleted reservoir in the North Sea off the UK.
read more... 11/11/2020
European lockdowns weigh on global fuel recovery
As the second wave of the virus hit many Western countries, governments imposed new lockdowns, closing restaurants and bars and banning gatherings. But the measures were not as strict as during the first wave
read more... 11/11/2020
Renewables To Grow 7% In 2020
Renewable power generation capacity will increase by 7 percent this year despite a 5-percent forecast decline in global energy demand, the International Energy Agency said in its Renewables 2020 report.
read more... 11/11/2020
Daily (10.11.2020): Oil prices spiked by about 8% on Monday amid Covid-19 vaccine breakthrough
Oil prices spiked on Monday after US drug firm Pfizer and Germany’s BioNTech unveiled a Covid-19 vaccine that has been found to be more than 90% effective, igniting hopes of improving black gold demand. Hence, Brent crude rallied by $2.95, or 7.5%, to settle at $42.40 a barrel. Meanwhile, U.S. WTI crude surged by $3.15, or 8.5%, to end at $40.29 a barrel. Both contracts hit their biggest daily gain in more five months.
read more... 10/11/2020