Crude oil prices lost ground on Monday as doubts about the effectiveness of vaccines against the Omicron variant counterbalanced a bullish forecast for oil demand in the first quarter by OPEC. Hence, Brent crude fell by 76 cents, or 1.0%, to settle at $74.39 a barrel. U.S. WTI crude dropped by 38 cents, or 0.5%, to settle at $71.29 a barrel.
read more... 14/12/2021
Germany will freeze the Nord Stream 2 gas pipeline in case of any “escalation” between Russia and Ukraine, the new German foreign minister said, citing an agreement between her country and the United States.
read more... 14/12/2021
The European Commission will propose a system for EU countries to voluntarily jointly buy gas to form strategic reserves of the fuel, a measure drawn up in response to soaring energy prices, according to a document shared with countries ahead of a summit this week.
read more... 14/12/2021
European Commission President Ursula von der Leyen has taken charge of a soon-to-be-published list of sustainable investments amid controversy around the possible classification of fossil gas and nuclear energy as “green” or “transitional” activities under certain conditions, according to several sources familiar with the process.
read more... 13/12/2021
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