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Daily (14.08.2023): Oil prices climbed on Friday amid IEA's forecasts of record global demand in 2023
Oil prices rose for the seventh week in a row on Friday, driven by recent projections from the International Energy Agency (IEA) regarding global oil demand growth in 2023. The IEA's monthly report indicates that demand is set to reach a historic high of 102.2 million barrels per day, making it the highest level ever recorded. Consequently, Brent crude increased by 0.5% to $86.81 a barrel, while WTI crude advanced by 0.4% to settle at $83.19 a barrel.
read more... 14/08/2023
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Germany economy ministry supports 'fair' distribution of wind power expansion costs
Germany's economy ministry is in favour of distributing the network costs of expanding renewable energies "fairly" among the country's federal states, a spokesperson for the ministry said on Sunday.
read more... 14/08/2023
Associations push government to extend £400 energy bill support
A consortium of more than 30 prominent housing associations has appealed to government officials to reopen the Energy Bill Support Scheme.
read more... 14/08/2023
US awards $1.2 billion to Oxy, Climeworks-led carbon air capture hubs
The U.S. Department of Energy on Friday announced that projects in Texas and Louisiana to remove more than 2 million metric tons of carbon emissions per year will get over $1 billion in federal grants, a key step in scaling up direct air capture (DAC) technology.
read more... 14/08/2023
Daily (11.08.2023): Gas prices retreated on Thursday amid hopes that a potential strike at an Australian LNG facility could be averted
Oil prices decreased due to a technical adjustment and concerns about the global economic outlook on Thursday. Recent data revealed that US core inflation increased to 3.2% in the previous month, a slight rise compared to June. The increase triggered speculation about the possibility of the Federal Reserve implementing another interest rate increase. As a result, Brent crude fell by 1.3% to $86.40 a barrel, while WTI crude declined by 1.9% to settle at $82.82 a barrel.
read more... 11/08/2023