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Daily (13.05.2020): Crude oil futures recovered on Tuesday amid additional supply cuts by Saudi Arabia
Crude oil futures gained ground on Tuesday, after OPEC’s de facto leader, Saudi Arabia, pledged to deepen production cuts in June to help drain the glut in the global market. Hence, Brent crude futures rose by 35 cents, or 1.2%, to settle at $29.98 per barrel, while the U.S. WTI crude soared by $1.64, or 6.8%, to settle at $25.78 per barrel.
read more... 13/05/2020
German states eye hydrogen use in deal with Berlin for 20GW offshore wind
Germany’s five coastal states and the federal government, together with transmission system operators (TSOs) 50Hertz, Amprion and TenneT, have agreed to raise the country’s 2030 offshore wind target to 20GW from 15GW previously envisaged.
read more... 12/05/2020
Tesla applies to become UK energy provider raising hopes its giant batteries could help power the country
Tesla, the company behind the Model 3, S, X, and Y electric cars, might become an energy provider in the United Kingdom.
read more... 12/05/2020
Ukraine commissions 1st phase of 500-MW wind project
The first phase of the 500-MW wind farm complex in Zaporizhia region of Ukraine initiated operations in May 2020, a supplier for the project announced.
read more... 12/05/2020
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Daily (12.05.2020): British near-term gas prices lost ground on Monday amid a re-routing of French gas to UK
Crude oil futures started the week on the back foot, weighed down by investor fears of a second wave of Covid-19 which offset new output cuts from Saudi Arabia. Hence, Brent crude for July delivery fell by $1.34, or 4.3%, to settle at $29.63 a barrel. At the same time, U.S. WTI crude dropped by 60 cents, or 2.4%, to settle at $24.14 a barrel.
read more... 12/05/2020