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Daily (13.06.2023): Oil prices fell by 4% on Monday amid weak Chinese data, stronger U.S. dollar
On Monday, crude oil prices declined as a result of weak economic data from China and the possibility of interest rate hikes. Furthermore, higher supply from Russia has contributed to the overall downward trend in oil prices. Hence, Brent crude dropped by 4% to settle at $71.84 a barrel. Meanwhile, WTI crude traded at $67.12 a barrel, declining by over 4% day-on-day.
read more... 13/06/2023
Italy must add 190 GW of renewables by 2035 to meet G7 pledge
Italy needs to add 190 gigawatts (GW) of renewable energy capacity by 2035 if it wants to meet a G7 pledge to reach a close to net-zero power system in the next decade, climate change think-tank ECCO and consultancy firm Artelys said.
read more... 13/06/2023
UK offshore wind capacity needs to increase by 265% to meet 2030 targets
The UK’s offshore wind capacity will need to increase by 265% to meet government targets. The UK Government seeks to grow offshore wind capacity from 13.7GW to 50GW by 2030.
read more... 13/06/2023
EU to vote on renewables bill again after being stalled on nuclear row
EU diplomats will vote on the bloc’s new renewable energy bill on Wednesday after a group of countries, including France, registered last-minute opposition in May.
read more... 13/06/2023
Daily (12.06.2023): Strong solar generation and low demand put significant pressure on European spot power prices
Crude oil prices dipped on Friday in anticipation of U.S. Federal Reserve meeting and potential interest rate increases. Hence, Brent crude decreased by 1.5% to settle at $74.79 a barrel. At the same time, WTI Crude traded 1.6% lower at $70.17 a barrel.
read more... 12/06/2023