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Daily (27.05.2024): Gas prices declined on Friday amid rising Norwegian flows and ample storage
Oil prices posted a slight increase on Friday, following a week of consecutive decrease amid a technical rebound. Expected increase in gasoline demand ahead of a long weekend also supported prices. Thus, Brent crude settled at $82.12 per barrel, while WTI crude stood at $77.72, both contracts rising by about 1% day-on-day.
read more... 27/05/2024
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Millions of Britons set for lower energy bills after 7% price cap cut
Most British household energy bills will fall from July after regulator Ofgem cut its domestic price cap by 7%, largely thanks to a fall in wholesale energy prices, but analysts warned the reduction could be temporary.
read more... 27/05/2024
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Italy's Enel pushes back solar panel output goal
Enel plans to increase the production of solar panels at its factory in Sicily to 3 gigawatt (GW) capacity by the end of 2025, later than previously expected, documents published by the Italian utility showed.
read more... 27/05/2024
National Grid unveils £60bn investment strategy
British multinational electricity and gas utility company National Grid has unveiled a £60bn ($76.3bn) investment plan set to transform its networks up to 2028.
read more... 27/05/2024
Daily (24.05.2024): Oil prices plunged to a 3-month low on Thursday amid weak demand and high Fed rates
Oil prices declined for the fourth consecutive session on Thursday, hitting a 3-month low, weighed down by indications of robust US economic activity, which suggest the continuation of high interest rate policies. Hence, Brent crude dropped by 0.7% to settle at $81.36 per barrel, while WTI crude decreased by 1% to close at $76.87.
read more... 24/05/2024