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Daily (09.03.2021): European power prices surged on Monday amid mild weather and low renewables generation
Crude oil prices oscillated on Monday, rising on reports of an attack on Saudi Arabia's oil facilities, but dropping later as the country stated that production remained unaffected. Consequently, both Brent and WTI oil fell by 1.6% to settle at $68.24 a barrel and $65.05 a barrel, respectively.
read more... 09/03/2021
UK energy networks appeal against Ofgem’s price control
Nine energy network companies are seeking permission from the Competition and Markets Authority (CMA) to appeal against Ofgem’s price control.
read more... 09/03/2021
Germany agrees compensation for nuclear phaseout
Following the accident at the Fukushima Daiichi plant in Japan in March 2011, the government of Chancellor Angela Merkel decided it would phase out its use of nuclear power by the end of 2022 at the latest. Prior to the accident, Germany was obtaining around a quarter of its electricity from 17 nuclear reactors operated by the four utilites.
read more... 09/03/2021
Russia’s Gazprom Boasts First Carbon-Neutral LNG Delivery In Europe
Russian gas giant Gazprom said on Monday that it had delivered the first carbon-neutral liquefied natural gas (LNG) in Europe, shipping the fuel to Shell in the UK.
read more... 09/03/2021
Daily (08.03.2021): Oil prices closed at their highest levels in two years on Friday after OPEC+ decision to keep output steady in April
Crude oil futures rallied to their highest levels in nearly two years on Friday following a stronger-than-expected U.S. jobs report and a surprise decision by OPEC and its allies not to increase supply in April. Hence, Brent crude surged by $2.62, or 3.9%, to settle at $69.36 a barrel. At the same time, U.S. WTI crude soared by $2.26, or 3.5%, to end at $66.09 a barrel. For the week, Brent gained 4.9%, while WTI jumped by 7.5%.
read more... 08/03/2021