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Daily (15.10.2021): Oil prices climbed to multi-year highs on Thursday as Saudi Arabia dismissed calls for additional OPEC+ supplies
Crude oil prices climbed to hit multi-year highs on Thursday after Saudi Arabia, one of the main crude oil producers in the world, rejected to follow the policy of OPEC+ to increase their output for price controls. Additionally, the International Energy Agency (IEA) said surging natural gas prices could boost demand for oil among power generators. Hence, Brent crude rose by 1% to settle at $84.00 a barrel, the highest level since October 2018. U.S. WTI crude increased by 1% to close at $81.31 a barrel, hitting a seven-year record high.
read more... 15/10/2021
Daily (14.10.2021): British near-term gas prices edged up on Wednesday on low storage, high LNG
Oil prices traded down in a steady trading on Wednesday amid profit-taking, while traders assessed OPEC’s skepticism around the strength of crude demand even after prices hit the highest since 2014. Hence, Brent crude settled 24 cents, or 0.3%, lower at $83.18 per barrel. U.S. West Texas Intermediate (WTI) crude eased by 20 cents, or 0.3%, to end at $80.44.
read more... 14/10/2021
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EU to study joint natural gas buying as response to energy price spike
The European Union will look into an option for member states to jointly buy natural gas as the bloc considers ways to protect itself against surging energy prices, according to a draft document.
read more... 14/10/2021
EU outlines short and long-term answer to global energy price surge
The European Commission unveiled on Wednesday (13 October) a “toolbox” of measures EU countries will be able to draw from when responding to rising energy prices in the short term, while pointing to an upcoming gas market reform for measures to be considered in the long term.
read more... 14/10/2021
France sets EV output target in $35B industrial plan
French President Emmanuel Macron unveiled a 30 billion euro ($35 billion) plan to reverse years of industrial decline in the EU’s second-largest economy, including 4 billion euros for the transport sector to support electrified vehicles and other initiatives.
read more... 14/10/2021