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Daily (02.03.2021): Oil prices fell sharply on Monday amid jitters that OPEC will raise output
Crude oil futures extended losses on Monday amid supply concerns ahead of the OPEC+ key meeting on Thursday, rising output from Venezuela, and weak crude demand from China. Hence, Brent crude settled at $63.69 a barrel, dropping by $2.44, or 3.7%. Meanwhile, U.S. WTI crude fell by 0.86 cents or 1.4%, to end at $60.64 a barrel.
read more... 02/03/2021
Lithuania to start supplying LNG to Poland next year
Lithuanian state-controlled energy company Ignitis Group will start supplying liquefied natural gas (LNG) to Poland next year when a new pipeline between the two countries comes online, its CEO said on Monday.
read more... 02/03/2021
ENA brings more flexibility to the grid with contract update
The Energy Networks Association (ENA) has updated its standardised flexibility contract used across the energy sector to offer more transparency and increase accessibility.
read more... 02/03/2021
French Feb nuclear falls to record low as maintenance season starts early
Average French nuclear generation fell to a record low in February of 45 GW, down 5.5% on the year, grid operator data showed March 1.
read more... 02/03/2021
Daily (01.03.2021): Oil prices fell on Friday amid strong U.S. dollar, concerns of stronger supply, but notched weekly gains
Oil prices fell on Friday amid a stronger U.S. dollar and concerns that crude oil supply would rise in response to prices rebounding above pre-pandemic levels. Hence, Brent crude declined by 75 cents, or 1.1%, to settle at $66.13 a barrel. Meanwhile, U.S. WTI crude settled $2.03, or 3.2%, lower at $61.50 per barrel. However, on a weekly basis, Brent surged by 5.1%, while WTI soared by 3.8% and both hiked by 20% in February on supply disruptions in the United States and optimism over demand recovery on the back of COVID-19 vaccination rollout.
read more... 01/03/2021