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Daily (13.06.2024): Oil prices rose by 1% on Wednesday amid forecasts for demand growth
Oil prices increased on Wednesday as the market mainly responded to optimistic forecasts for global oil demand growth from the U.S. Energy Information Administration (EIA) and OPEC. Despite an unexpected rise in U.S. inventories and a hawkish statement from the U.S. Federal Reserve, Brent crude closed at $82.60 per barrel, while WTI crude reached $78.50, both contracts rising by 1% day-on-day.
read more... 13/06/2024
Netherlands awards 4GW offshore wind development permits
The government of the Netherlands has announced the award of permits for a 4GW offshore wind farm development off the country’s west coast.
read more... 13/06/2024
EU to impose new tariffs of up to 38% on Chinese electric vehicles
The European Commission notified automakers on Wednesday that it would apply additional duties of up to 38.1 percent on imported Chinese electric vehicles starting next month.
read more... 13/06/2024
French renewable energy sector says far-right victory risks trouble for industry
The French renewable energy sector is bracing for a sharp slowdown in wind and solar projects if the far-right wins a majority in upcoming elections, just as new legislation was expected to boost the industry in nuclear-dominant France.
read more... 13/06/2024
Daily (12.06.2024): Gas prices fell on Tuesday as bearish fundamentals outweighed unplanned outages
Oil prices rose for the fourth time in five trading days as investors anticipated that last week’s decline was overdone and expected a surge in demand during the summer. Hence, Brent crude edged about 0.4% higher at $81.92 per barrel, while WTI crude closed 0.2% up at 77.90 per barrel.
read more... 12/06/2024