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Daily (15.05.2020): Crude oil prices rebounded on Thursday amid a less pessimistic oil supply picture unveiled by IEA
Crude oil futures surged on Thursday after the IEA unveiled a tightening supply picture in the second half of 2020. Moreover, an unexpected drop in U.S. crude stocks also lent support to prices. Hence, Brent crude soared by $1.94, or 6.7%, to settle at $31.13 a barrel, while the U.S. WTI crude rallied by $2.27, or 9%, to end at $27.56 a barrel.
read more... 15/05/2020
Lithuania eyes 700MW offshore wind zone that could meet 25% of its power needs
Lithuania’s energy ministry has submitted a government decree for public consultation on the location of a 700MW wind array off its coast that could provide up to a quarter of the small Baltic nation’s electricity needs.
read more... 15/05/2020
Big Oil and deep water to drive offshore wind to become $1.4trn market by 2050
Worldwide construction of new offshore wind power plant is set to gear up exponentially with some 135GW of new turbines added in the coming decade en route to a 600GW market worth $1.4trn by 2050, as the industry wades out into deeper waters and heavily capitalised players, led by the oil operators, ramp up spending, according to the latest research from IHS Markit.
read more... 15/05/2020
Daily (14.05.2020): Oil prices turned bearish on Wednesday on wait-and-see approach adopted by investors
The solemn speech from the U.S. Federal Reserve Chair Jerome Powell stating that economic recovery would be a long process led to a plunge in oil prices, despite the first decline in U.S. inventories since January. Brent crude fell 79 cents, or 2.6%, to $29.19 a barrel. West Texas Intermediate crude futures dropped by 78 cents, or 1.9%, to $25.29.
read more... 14/05/2020
Poland's solar capacity tops 1.83 GW
Poland surpassed 1.83 GW of solar power generation capacity at the end of April, according to data available to the transmission system operator (TSO).
read more... 14/05/2020