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Daily (22.10.2020): Oil prices fell sharply on Wednesday due to increased gasoline stocks in the US and weak demand
Oil prices retreated on Wednesday weighed by an increase in gasoline stocks in the US and weak demand because of the second wave of the Covid-19 pandemic. Furthermore, Libyan oil return to the market also put pressure on prices. Brent crude traded 3.3% lower at $41.73 a barrel, while WTI oil dropped by 4% to close at $40.03 a barrel.
read more... 22/10/2020
PGNiG to buy Danish offshore gas from Ørsted
Danish offshore wind developer Ørsted has signed a deal to sell gas to Polish oil and gas company PGNiG under a multi-year contract.
read more... 22/10/2020
Total delivers its first carbon-neutral LNG cargo
French energy giant Total said it has delivered its first carbon-neutral liquefied natural gas (LNG) cargo.
read more... 21/10/2020
Daily (20.10.2020): Colder weather and stronger LNG prices supported front-month British gas prices at the beginning of the new week
Crude oil futures continued to slip on Monday as the OPEC+ panel has made no new policy proposals from January 2021. Moreover, a resurgence of the coronavirus in Europe and the U.S. threatened to hinder a recovery in demand. Consequently, Brent crude slipped by 31 cents, or 0.7%, to settle at $42.62 a barrel. U.S. WTI crude ended rather flat at $40.83 a barrel.
read more... 20/10/2020
ConocoPhillips Becomes First Major U.S. Oil Firm To Pledge Emission Cuts
U.S. oil and gas producer ConocoPhillips unveiled on Monday a target to reduce emissions from its operations to net zero by 2045-2055 in a first announcement from a major American oil firm setting specific targets to cut its carbon footprint.
read more... 20/10/2020