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Daily (11.06.2024): Oil prices surged by 3% on Monday, boosted by growing buying interest
Oil prices surged significantly on Monday, propelled by speculative purchasing by investors adjusting their positions in response to OPEC+ communication, which has left the market in an unstable state. As a result, Brent crude closed at $81.63 per barrel, while WTI crude stood at 77.74 per barrel, with both contracts soaring by about 3% day-on-day.
read more... 11/06/2024
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Germany to launch dynamic bidding in 2.5 GW North Sea wind tender
A dynamic bidding process will be initiated in Germany to determine the winners of the 2.5 GW offshore wind tender in the North Sea, following the receipt of several zero-cent bids for both tendered areas.
read more... 11/06/2024
RWE inaugurates biggest onshore wind farm in France
German energy company RWE is celebrating the inauguration of its new onshore wind farm in the Aisne department of Hauts-de-France, located in the municipalities of Nouvion-et-Catillon and Nouvion-le-Comte.
read more... 11/06/2024
TotalEnergies signs agreement for green hydrogen supply
TotalEnergies and Air Products have entered an agreement aimed at decarbonising European refineries.
read more... 11/06/2024
Daily (10.06.2024): European carbon prices declined by 1% on Friday amid slowing market activity and bearish gas prices
On Friday, oil prices ended nearly unchanged, influenced by OPEC+'s reassuring comments about flexible production cuts and a U.S. jobs report. Initially, prices were buoyed by OPEC+'s statements, suggesting that they might adjust production cuts based on market conditions. However, the positive job data from the U.S. diminished hopes for an interest rate cut, keeping oil prices stable. Hence, Brent crude retreated by 0.3% to close at $79.62 per barrel, while WTI crude stabilized at 75.25 per barrel, with both contracts falling by over 1% day-on-day.
read more... 10/06/2024