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Daily (23.05.2024): The German Cal25 power price topped 100 EUR/MWh for the first time since the start of the year on Wednesday
Oil prices declined for the third consecutive day on Wednesday in a sluggish market, despite a rebound in U.S. gasoline demand. The EIA's weekly report showed gasoline demand rising to 9.3 million barrels per day for the week ending May 17, after six weeks below 9 million barrels per day. As a result, Brent crude dropped by approximately 1.2% to $81.90 per barrel, while WTI Crude decreased by 1.4% to settle at $77.57.
read more... 23/05/2024
Daily (22.05.2024): European carbon prices hit a four-month high on Tuesday amid strong demand and bullish gas prices
Oil prices extended losses on Tuesday, in a market that shrugged off geopolitical risk and focused on the absence of supply disruptions, OPEC's supply capacity and Fed vice-president speeches. As a result, Brent crude dropped by about 1% to close at $82.88 a barrel, while WTI crude lost 1.4% to settle at $79.80 per barrel.
read more... 22/05/2024
NeuConnect construction begins in Germany
Construction has started on the German portion of an interconnector linked to the UK with the milestone marked by a ground-breaking ceremony in Wilhelmshaven.
read more... 22/05/2024
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UK government aims to build next large nuclear plant in Wales
The UK government aims to build a large nuclear power plant in northern Wales as it seeks to boost the stable, low-carbon electricity source alongside wind farms to reach its climate goals.
read more... 22/05/2024
Daily (20.05.2024): Oil prices increased by 1% on Friday, driven by encouraging indicators of growing demand from both China and the US
Oil prices increased on Friday due to indications of rising demand in major consumers, the US and China. China's industrial production surged by 6.7% year-on-year in April, potentially increasing demand. Additionally, severe forest fires in western Canada endangered the oil-producing town of Fort McMurray, which outputs over 2 million barrels daily. As a result, Brent crude rose by 1%, closing just below $84 a barrel, while WTI crude also climbed 1%, hovering around $80 per barrel.
read more... 20/05/2024