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Daily (26.07.2023): Oil prices surged to a three-month high on Tuesday, driven by China's new stimulus measures
Oil prices surged for the fourth consecutive session on Tuesday, hitting a three-month peak, driven by indications of reduced oil supplies and reassurance from Chinese authorities about their commitment to strengthen the economy, leading to a positive market sentiment. Thus, WTI crude traded 1.1% higher at $79.63 a barrel, while Brent crude rose by 1% to settle at $83.64 a barrel.
read more... 26/07/2023
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EU faces winter gas supply risk on limited LNG growth
Europe still faces risks to its gas supply this winter as the global availability of LNG upon which it depends looks set to expand only modestly this year, commodities consultancy Icis said on Monday.
read more... 26/07/2023
EU signs off target to cut final energy use 12% by 2030
A new EU target to cut the bloc’s final energy use by 11.7% in 2030 compared with a business-as-usual forecast gained its final approval on Tuesday, paving the way for it to become binding.
read more... 26/07/2023
German offshore wind capacity up 3.1% in H1, manufacturers demand law amendments
Germany raised installed offshore wind capacity by 3.1% to 8,385 megawatts (MW) in the first half of 2023, industry lobbies said on Tuesday, demanding better revenue guarantees to maintain a build-out pace and ensure it will reach a 30,000 MW target by 2030.
read more... 26/07/2023
Daily (25.07.2023): Oil prices climbed by over 2% on Monday to levels not seen since April
Crude oil prices gained ground on Monday following hopes for new stimulus measures in China and OPEC's production cuts. Additionally, rising demand of US gasoline bolstered prices. Thus, Brent crude rose by 2.1% to end at $82.74 a barrel. Meanwhile, U.S. WTI crude increased by over 2% as well, to settle at $78.74 a barrel.
read more... 25/07/2023