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Daily (06.10.2021): Brent crude at three-year high, WTI at seven-year high on Tuesday as OPEC sticks to output plan
Oil prices continued to rally on Tuesday following OPEC+'s decision to maintain a policy of measured monthly production increases, lifting the international crude benchmark to a three-year high. Hence, Brent crude settled up $1.30, or 1.6%, at $82.56 a barrel. U.S. West Texas Intermediate (WTI) oil closed up $1.31, or 1.7%, at $78.93 a barrel, hitting its highest level since 2014.
read more... 06/10/2021
Daily (05.10.2021): European electricity prices rocketed on Monday amid low renewables output, surging gas prices
Oil prices prolonged their rally, to hit a three-year high on Monday following OPEC+ decision to stick with its current output policy as demand for petroleum rebounds. Hence, Brent crude soared by $1.98, or 2.5%, to settle at $81.26 a barrel. U.S. WTI crude settled up $1.74, or 2.3%, to $77.62 a barrel.
read more... 05/10/2021
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SSE Renewables to combine two wind farms to create 4.1GW ‘super project’
SSE Renewables is combining two proposed offshore wind farms to create what it says would be a “super project” development, with a potential output of 4.1GW.
read more... 20/09/2021
Daily (08.09.2021): European front-year power contracts hit fresh all-time highs amid strong gas, coal
Crude oil futures retreated on Tuesday as Saudi Arabia’s sharp cuts in crude contract prices for Asia raised fears over slower demand, but strong Chinese economic data and U.S. output outages limited losses. Hence, Brent crude declined by 0.7% to settle at $71.69 a barrel. U.S. WTI crude lost 0.8% to end at $68.35 a barrel.
read more... 08/09/2021
Daily (01.09.2021): Oil prices ended the turbulent August with losses amid global health crisis
Crude oil prices declined on Tuesday following some sharp gains on the oil market over the last few weeks as investors weighed the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida. Oil has endured a turbulent August, with Brent dropping by over 4% month-on-month and WTI crude falling by 7%. Both benchmarks posted their first monthly losses since March. Hence, Brent crude slipped by 0.6% day-on-day, to settle at $72.99 a barrel. U.S. WTI crude dropped by 1% to close at $68.50 a barrel.
read more... 01/09/2021