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Daily (08.03.2021): Oil prices closed at their highest levels in two years on Friday after OPEC+ decision to keep output steady in April
Crude oil futures rallied to their highest levels in nearly two years on Friday following a stronger-than-expected U.S. jobs report and a surprise decision by OPEC and its allies not to increase supply in April. Hence, Brent crude surged by $2.62, or 3.9%, to settle at $69.36 a barrel. At the same time, U.S. WTI crude soared by $2.26, or 3.5%, to end at $66.09 a barrel. For the week, Brent gained 4.9%, while WTI jumped by 7.5%.
read more... 08/03/2021
Hungary and Poland plan nuclear to replace coal
Hungary is now the sixth European country to bring forward its coal phaseout plan, announcing that it will shut its last remaining coal plant in 2025. Meanwhile Poland says its first nuclear power unit will be built in Gdansk and the second one probably at the site of its Belchatów coal plant.
read more... 08/03/2021
Italy’s energy demand slumped to record lows in 2020
The country’s fall in energy demand is the highest since the Second World War, a new study finds.
read more... 08/03/2021
Renewables bring 47% of Germany's power in 2020
Germany’s renewable power plants accounted for 47% of Germany’s overall power generation mix in 2020, up from 42.3% a year back, new statistics show.
read more... 08/03/2021
Daily (05.03.2021): Oil prices soared by 4% on Thursday following the positive conclusion of the OPEC+ summit
Crude oil prices strengthened significantly on Thursday, as OPEC+ summit members concluded on a marginal increase in petroleum production. As a result, Brent oil and WTI crude both surged by 4.2% to trade at $66.74 a barrel and $63.83 a barrel, respectively.
read more... 05/03/2021