On Wednesday, although the U.S. Energy Information Agency's (EIA) announced a decline in U.S. commercial crude oil reserves in the week ending March 3, after ten consecutive weeks of increases, oil prices lost ground as concerns grew stronger over the impact of a U.S rate hike. Brent crude edged 0.8% lower, to settle at $82.66 a barrel.
read more... 09/03/2023
The European Commission does not plan to make revenue caps on low-cost power generators a permanent feature, according to an unofficial draft of its power market reform proposals expected next Thursday.
read more... 09/03/2023
Germany will cancel a “residual” sum of carbon allowances – that one analyst put below 14m tonnes – associated with power plant closures in 2021 under the country’s coal phase-out, the energy ministry has told Montel.
read more... 09/03/2023
EDF Renewables, marine contractor Jan De Nul and energy group Luminous have teamed up to make a joint bid for the development of an offshore wind zone in Belgium that could host up to 3.5 GW of turbine capacity.
read more... 09/03/2023
Oil prices lost momentum on Tuesday as the Chinese National People’s Congress estimate a lower-than-expected GDP growth target of around 5%, hence this could cause a fall in oil demand. A rise in US oil output also weighed on prices. Hence, Brent crude fell by 3.4% to settle at $83.29 a barrel.
read more... 08/03/2023