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Daily (16.07.2020): A sharp drop in U.S crude stocks boosted oil prices by over 2% on Wednesday
Oil prices added momentum on Wednesday, driven by a sharp decrease in U.S crude stocks. However, OPEC’s and its oil-producing allies plan to boost supply from August to meet an expected rebound in demand limited the gain. In this context, the International benchmark Brent crude settled 2.1% higher at $28.85 a barrel. Similarly, WTI, the U.S. benchmark, rose by 2.3%, or 91 cents, to settle at $41.20 a barrel.
read more... 16/07/2020
EDP seeks to close its coal-fired power plants in 2021
The utility is evaluating the development of green hydrogen production and energy storage projects
read more... 16/07/2020
SGN working on world’s first offshore wind-powered hydrogen heating project
The UK gas network operator SGN has launched a project that will be world-first to employ a direct supply of offshore wind power to produce green hydrogen energy for heating.
read more... 16/07/2020
Romanian nat gas producer Romgaz plans entry on supply, distribution market - report
Romanian natural gas producer Romgaz is planning to enter the gas distribution and supply segment for domestic customers, local media reported on Wednesday.
read more... 16/07/2020
Daily (15.07.2020): Oil prices ended slightly higher on Tuesday as OPEC+ complied with the agreed output cuts in June
Crude oil futures posted minor gains on Tuesday amid evidence that OPEC+ complied 107% of agreed oil output cuts in June. However, surging COVID-19 cases globally and mounting tensions between the U.S. and China continue to weigh on oil prices. Hence, Brent crude added 18 cents, or 0.4%, to close at $42.90 a barrel. At the same time, U.S. WTI crude rose by 19 cents, or 0.5%, to settle at $40.29 a barrel.
read more... 15/07/2020