Crude oil prices fell sharply on Thursday, dampened by statements from Russia's Deputy Prime Minister for Energy, who rejected a further production cut at the end of the next OPEC+ meeting. Remaining fears over the possibility of a US debt ceiling default have put further pressure on prices. Hence, Brent crude posted a 2.7% decline at $76.26 a barrel. Meanwhile, WTI crude plunged by more than 3% to close at $71.83 a barrel.
read more... 26/05/2023
Falling U.S. stockpiles and warning from the Saudi energy minister that OPEC+ could reduce its production weighted on oil prices on Wednesday. Brent and WTI crude rose by 2% to settle at $78.36 and $74.34 a barrel respectively.
read more... 25/05/2023
The European Parliament’s lead negotiator on the EU’s power market reform has sparked concern by proposing the return of a controversial revenue cap for power generators with cheap production costs, like renewables and nuclear.
read more... 18/05/2023
Ramping up renewable power production rather than subsidies is the key to lower electricity prices for Germany's energy-hungry industry, Chancellor Olaf Scholz said on Saturday, in an apparent dig at proposals by his government's economy minister.
read more... 08/05/2023
Germany’s three-party coalition is debating whether electricity prices for energy-intensive industries should be subsidised to prevent companies from moving production abroad.
read more... 05/05/2023