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Daily (23.02.2021): Oil prices settled at their highest levels since January 2020 amid a gradual recovery of U.S. crude output after winter storms
Crude oil futures rallied on Monday to settle at their highest levels in more than a year amid expectations of a slow recovery in output after last week’s deep freeze in Texas which cut U.S. crude production by as much as 40%. The gains were also attributed to expectations that OPEC+ would continue to curb output. Hence, Brent crude soared by $2.33, or 3.7%, to settle at $65.24 a barrel. Meanwhile, U.S. WTI crude surged by $2.46, or 4.2%, to settle at $61.70 a barrel.
read more... 23/02/2021
EU's 2030 goal requires 400 GW of wind, solar and tough decisions
Adding 162 GW of wind and 253 GW of solar capacity over 10 years, boosting electric vehicle (EV) sales and speeding up coal power plant retirements would result in a reduction of 53% in Europe’s emissions by 2030, but the bloc needs to do more to reach its 55% goal.
read more... 23/02/2021
Northvolt to build ‘Europe’s largest’ battery factory
Swedish lithium-ion manufacturer Northvolt has announced it will invest $200 million (£142m) in building what is claimed to be Europe’s largest battery facility.
read more... 23/02/2021
Qatar's LNG Megaprojects Are Making Markets Increasingly Competitive
Qatar Petroleum’s recently set a new record for the largest LNG export project ever. By 2026, the country will once again become the world's largest supplier of liquefied natural gas by overtaking Australia. The signing of the contract was delayed for a year due to economic uncertainty as a direct consequence of the Covid-19 pandemic. With the mega-expansion, the market could be oversupplied for years and the feasibility of other projects that are awaiting their investment decision could be in jeopardy.
read more... 23/02/2021
Daily (22.02.2021): Crude oil prices fell by 2% on Friday amid profit-taking and resumption of US crude supply
Crude oil prices lost ground on Friday, weighed by profit-taking after breaking new records in more than a year. Furthermore, investors anticipated a partial recovery of crude production in the United States. As a result, Brent oil ended 1.6% lower at $62.91 a barrel, while WTI crude lost 2.1% to settle at $59.24 a barrel.
read more... 22/02/2021