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Daily (05.11.2021): British near-term gas prices dropped sharply on Thursday after resumption of Russian gas flows to Germany through Yamal
Oil prices fell on Thursday, reversing earlier gains in a volatile session following news that Saudi Arabia's oil output will soon exceed 10 million barrels per day for the first time since the COVID-19 pandemic began. Hence, Brent crude decreased by 1.8% to settle at $80.54 a barrel, the lowest level since October 1. At the same time, U.S. WTI crude fell by 2.5%, to settle at $78.81 a barrel, the lowest level since October 7.
read more... 05/11/2021
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OPEC+ rebuffs U.S. calls for speedier oil output increases
OPEC and its allies agreed at a meeting on Thursday to stick to plans to raise oil output by 400,000 barrels per day (bpd) from December, despite calls from the United States for extra supply to cool rising prices.
read more... 05/11/2021
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China's daily coal output near annual high, govt continues crackdown on irregularities
China's daily coal output hit 11.67 million tonnes on November 2, rising around one million tonnes from early October, close to a record high this year amid a raft of measures to ramp up production, according to the country's state planner.
read more... 04/11/2021
Daily (15.10.2021): Oil prices climbed to multi-year highs on Thursday as Saudi Arabia dismissed calls for additional OPEC+ supplies
Crude oil prices climbed to hit multi-year highs on Thursday after Saudi Arabia, one of the main crude oil producers in the world, rejected to follow the policy of OPEC+ to increase their output for price controls. Additionally, the International Energy Agency (IEA) said surging natural gas prices could boost demand for oil among power generators. Hence, Brent crude rose by 1% to settle at $84.00 a barrel, the highest level since October 2018. U.S. WTI crude increased by 1% to close at $81.31 a barrel, hitting a seven-year record high.
read more... 15/10/2021
France sets EV output target in $35B industrial plan
French President Emmanuel Macron unveiled a 30 billion euro ($35 billion) plan to reverse years of industrial decline in the EU’s second-largest economy, including 4 billion euros for the transport sector to support electrified vehicles and other initiatives.
read more... 14/10/2021