Latest news
Daily (04.01.2022): Oil prices edged higher on Monday ahead of OPEC meeting
Crude oil futures gained ground on the first trading day of the new year ahead of an OPEC+ meeting on Tuesday to discuss production policy. Hence, Brent crude increased by 1.5% to settle at $78.98 a barrel. U.S. WTI crude settled up 1.2% at $76.08 a barrel. Both contracts were spurred by hopes of further demand recovery in 2022.
read more... 04/01/2022
Daily (31.12.2021): The German spot power price fell dramatically amid strong wind output
Crude oil prices edged slightly higher on Thursday ahead of OPEC+ meeting next week, on expectations for strong fuel demand despite soaring Omicron coronavirus infections. Hence, Brent crude closed higher at $79.32 a barrel, while the American WTI crude rose by 0.6% to settle at $76.99 a barrel.
read more... 31/12/2021
Daily (14.12.2021): European electricity prices hit new record-highs on Monday amid cold weather forecasts, bullish sentiment across gas market
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
Daily (06.12.2021): Near-term gas prices weakened on Friday, weighed by profit-taking and forecasts of milder temperatures
Oil prices were mitigated on Friday, following the decision of OPEC+ members to maintain the planned gradual increase in crude production, despite the new variant of Covid and reports of tapping into strategic reserves. As a result, Brent oil edged 0.3% up at $69.88 a barrel, while WTI crude slipped by 0.4% to $66.26 a barrel.
read more... 06/12/2021
UAE's Masdar, Engie to invest $5 bil in renewables, hydrogen
The UAE's clean energy firm Masdar and France's Engie plan to invest $5 billion to develop 2 GW of renewable and hydrogen projects by 2030 as OPEC's third biggest producer seeks to implement its net zero emissions pledge by 2050.
read more... 06/12/2021