Crude oil prices dropped to the lowest level since January following OPEC’s decision not to cut production any further. Moreover, stronger-than-expected US economic data fuelled speculation that the Federal Reserve would keep its policy tight to fight inflation. Hence, Brent crude decreased by $2.89, or 3.4%%, to settle at $82.68 a barrel. WTI crude fell by $3.05, or 3.8%, to end at $76.93 a barrel.
read more... 06/12/2022
The Netherlands has weighed into the European Union's debate on whether to cap gas prices with an alternative proposal that would cap gas prices but only for government-owned or state-supported buyers.
read more... 06/12/2022
Global renewable power capacity is set to double over the next five years, driven by energy security concerns in the wake of Russia's invasion of Ukraine, the International Energy Agency (IEA) said on Tuesday.
read more... 06/12/2022
Slovenia and Hungary are considering building a natural gas pipeline connecting the two countries as a means of reducing Hungary’s reliance on natural gas from Russia.
read more... 06/12/2022
A bearish trend was seen in crude oil prices on Friday ahead of a meeting of the OPEC+ on Sunday and an EU ban on Russian crude on Monday. Thus, Brent crude decreased by 1.5% to settle at $85.57 a barrel. WTI crude ended around 5% lower at $79.98 a barrel.
read more... 05/12/2022