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Daily (10.12.2021): British gas prices fell on Thursday amid a rebound in Norwegian flows, mild weather, bearish carbon
Oil prices erased some of this week’s gains on Thursday as England, Denmark, and China imposed new restrictions to curb the spread of Omicron, ruining the demand recovery. Adding to the bearish sentiment, two Chinese real estate companies went through a rating downgrade, indicating China’s deteriorating economic growth. Hence, Brent crude fell by $1.40, or 1.9%, to settle at $74.42 a barrel. U.S. WTI crude declined by $1.42, or 2%, to end at $70.94 a barrel.
read more... 10/12/2021
Volvo, Northvolt close $3.3B battery supply deal
Volvo Cars and Northvolt have closed a 30 billion-crown ($3.3-billion) deal that the automaker said secures its supply of sustainable, state-of-the-art battery cells for its next-generation full-electric cars.
read more... 10/12/2021
Bulgaria seeks EU nod to halve energy tax to 10% until April
Bulgaria will seek EU approval to halve value-added tax on electricity and gas to 10% in the first four months of 2022 to offset a surge in energy costs for businesses and households, officials said.
read more... 10/12/2021
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German offshore wind expansion ‘will be a major effort’
As Olaf Scholz was confirmed as Germany’s new Chancellor on Wednesday (8 December), his second in command Robert Habeck faces a massive challenge: kickstarting a rapid expansion of renewables that touches on the limits of the possible.
read more... 10/12/2021
Daily (09.12.2021): Prospects of limited French nuclear output sent European spot power prices upwards on Wednesday
Oil prices increased on Wednesday, as concerns over the Omicron variant continued to ease. Furthermore, a decline in crude stocks in the United States lent additional support to prices. However, gains were limited by a decrease in US strategic reserves. As a result, both Brent oil and WTI crude edged around 0.5% higher at $75.82 and $72.36 a barrel, respectively.
read more... 09/12/2021