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Daily (12.10.2023): European spot electricity prices surged on Wednesday amid falling wind output and potential strikes by power workers in France
On Thursday, Oil prices fell following reports that Saudi Arabia had committed to maintaining market stability in the face of possible supply disruptions in the Middle East caused by conflicts in the region. As a result, Brent crude dropped by 2% to settle at $85.82 per barrel, while WTI crude ended at $83.49 per barrel, down 3% day-on-day.
read more... 12/10/2023
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France, Germany to aim for energy accord ‘by the end of the month’
Over the years, France and Germany have developed radically diverging electricity systems. While Paris puts large-scale nuclear power plants at the heart of its market, Germany is moving towards a smaller-scale decentralised power generation model relying on 100% % renewable energy.
read more... 12/10/2023
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EU to end winter with enough gas even without Russia
The EU is on track to end winter with sufficient gas, even if Russia halts supplies, although such a scenario – combined with cold weather – would erode stocks to around 20% of capacity, said think tank Bruegel.
read more... 12/10/2023
Global energy consumption to increase through 2050, outpace efficiency gains
Global energy consumption will likely increase through 2050 and outpace advances in energy efficiency, the U.S. Energy Information Administration (EIA) said on Wednesday.
read more... 12/10/2023
Daily (11.10.2023): British gas prices saw a fierce uptrend on Tuesday amid supply concerns over Middle East tensions
Crude oil prices were slightly lower yesterday amid concerns over the state of the global economy, after recent data flagged a slowdown in economic growth. However, the oil market remained choppy amid Middle East turmoil, fueled by worries about a potential decrease in oil supply. As a result, Brent crude traded 0.6% lower at $87.65 a barrel. Meanwhile, U.S. WTI crude edged 0.5% lower at $85.97 a barrel.
read more... 11/10/2023