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Daily (22.12.2023): Geopolitical situation driven by Red Sea shipping disruptions boosted forward gas and electricity prices on Thursday
On Thursday, oil prices experienced a decline, influenced by concerns that the demand for oil could be undermined in the coming year by the possibility of an economic recession. Additionally, the downward pressure on prices was exacerbated by Angola's announcement of its withdrawal from the OPEC. As a result, Brent crude closed at $79.39, and WTI crude settled at $73.89 per barrel, both contracts edging around 0.4% lower.
read more... 22/12/2023
EU, UK extend trade rules to avoid tariffs on electric vehicles
The European Union and Britain on Thursday agreed to give electric vehicle (EV) makers until the end of 2026 to comply with local content rules, delaying the imposition of tariffs on EVs traded with the UK.
read more... 22/12/2023
Price cap predicted to drop by 14% in April 2024
Forecasts for the April 2024 default tariff cap suggest a 14% decrease, projecting an annual cost of £1,660 for a typical dual fuel consumer
read more... 22/12/2023
Romanian government approves offshore wind law for Black Sea power plants
On Thursday, the Romanian government approved a bill to make it easier to harness the Black Sea’s abundant offshore wind energy.
read more... 22/12/2023
Daily (21.12.2023): European carbon prices marked their largest daily gain in 11 months on Wednesday, driven by fund position adjustments and bullish gas prices
On Wednesday, oil prices sustained their upward trend, partially influenced by tensions in the Red Sea. However, the increase in US crude and gasoline inventories limited the gains. Consequently, Brent crude rose by around 0.6% to close at $79.70, and WTI crude ended at $74.22 per barrel, 0.4% higher day-on-day.
read more... 21/12/2023