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Daily (03.08.2022): Oil prices rose on Tuesday ahead of OPEC meeting
On Tuesday oil forward prices saw a slight increase ahead of this week OPEC+ meeting, which may not result in a further increase in crude production due to concerns that a potential global recession may restrict energy demand. As such, Brent crude oil price settled 0.5% higher at $100.54, WTI crude rose by 0.6% to $94.42 per barrel.
read more... 03/08/2022
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Germany details plan to wean off Russian gas by 2024
Germany has detailed plans to be mostly independent of Russian gas by 2024 by replacing 50-60% of the gas deliveries with LNG next year.
read more... 03/08/2022
EU approves €3 billion German green heating scheme
The European Commission said on Tuesday (2 August) it had approved the German government’s €3 billion scheme to support renewable energy and waste heat-based district heating programs, which it said would help Germany and the EU achieve their climate change targets.
read more... 03/08/2022
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G7 mulls options to restrict Russian oil profits
The Group of Seven (G7) wealthy nations is looking at blocking the transportation of Russian oil among other options to deprive Moscow of bumper revenues amid its invasion of Ukraine, unless it heeds a price cap.
read more... 03/08/2022
Daily (02.08.2022): Crude oil prices fell sharply on Monday as sluggish manufacturing data weighed on the demand outlook
Crude oil prices fell sharply on Monday as sluggish manufacturing data in several countries weighed on the demand outlook. Hence, Brent crude dropped by 9.1%, to settle at $100.03 a barrel, while WTI crude decreased by 4.8% to $93.89 per barrel.
read more... 02/08/2022