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Daily (16.02.2023): EUAs hit a seven-session high on Wednesday, as traders are looking to liquidate their short positions
OPEC and the International Energy Agency both increased their demand forecasts for the year on Wednesday, shaking off the U.S. Energy Information Administration (EIA) report of a large increase in U.S. crude inventories, which resulted in only a slight decline in oil prices. Hence, Brent crude oil edged down at $85.38 a barrel.
read more... 16/02/2023
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Norway may tax power exports to keep domestic prices down
Norway's government said on Wednesday it would consider taxing electricity exports and impose other changes to its energy market to preserve more power for domestic use and keep a lid on prices.
read more... 16/02/2023
European Commission approves Danish scheme for renewable hydrogen
Under European Union (EU) state aid rules, the European Commission has approved a €170 million Danish scheme to support the production of renewable hydrogen through Power-to-X (PtX) technologies.
read more... 16/02/2023
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The IEA Expects Global Oil Demand Hit A Record High In 2023
Global oil demand is set to increase by 2 million barrels per day (bpd) this year, pushed up by growth in Chinese consumption after the reopening, the International Energy Agency (IEA) said on Wednesday as it raised its 2023 demand growth estimate by 100,000 bpd from last month’s forecast.
read more... 16/02/2023
Daily (15.02.2023): Oil prices lost ground on Tuesday after the United States announced that it will be reducing its strategic crude reserves
Oil prices fell on Tuesday after the United States announced that it will be reducing its strategic crude reserves, resulting in a large influx of oil onto the market despite weak demand. Thus, Brent crude oil decreased by 1%, settling at $85.58 a barrel.
read more... 15/02/2023