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Germany's Scholz says more renewables key to lower industry costs
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
Italy’s green hydrogen plans need government boost
Italy’s plans to develop green hydrogen as a future energy source require government support in terms of cost and improved infrastructure, said experts.
read more... 08/05/2023
Daily (08.05.2023): Oil prices rose on Friday but fell for the third week in a row due to economic woes
After three days of losses for global benchmark Brent, the much-anticipated technical rebound in oil occurred on Friday. Hence, Brent crude soared by 3.9% to settle at $75.30 a barrel. Meanwhile, U.S. WTI crude surged by 4.1%, to close at $71.34 a barrel as U.S. employers added 253,000 jobs in April. However, prices slumped for the week amid persistent economic woes.
read more... 08/05/2023
Daily (05.05.2023): Oil prices recovered slightly after sharp losses on Wednesday, although concerns about the global economy curbed gains
On Thursday, oil prices recovered slightly after sharp losses posted on Wednesday in an attempted technical rebound, although concerns about the economic situation and the banking sector prevented prices from rallying significantly. Hence, Brent crude added 0.2% to settle at $72.50 a barrel. WTI crude remained rather stable to bearish at $68.56 a barrel.
read more... 05/05/2023
German coalition mulls subsidising electricity for energy-intensive industries
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