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Daily (26.09.2022): Oil prices dropped to eight-month low on Friday amid recession fears
Oil prices fell to an eight-month low on Friday as the dollar reached its best level in more than two decades. Furthermore, fears that rising interest rates may send major countries into recession, would reduce demand for oil, thus weighing more on prices. Consequently, Brent crude settled 4.8% lower at $86.15 a barrel, while WTI crude decreased by 5.7% to settle at $78.74 per barrel.
read more... 26/09/2022
UK energy package to cost 60 bln pounds over next six months
Britain will spend about 60 billion pounds ($67 billion) on subsidising gas and electricity bills for the next six months for households and businesses, finance minister Kwasi Kwarteng said on Friday.
read more... 26/09/2022
Denmark to offer energy price support despite central bank warning
Danish lawmakers on Friday agreed an economic aid package worth 5.05 billion Danish crowns ($664 million) to soften the blow from rocketing energy prices, going against a warning from the central bank.
read more... 26/09/2022
EU watchdog proposes emergency brake for energy markets
A temporary brake on gas and electricity derivatives when prices spike could improve how energy markets operate, the European Union's securities watchdog proposed on Thursday, along with more fundamental changes over time.
read more... 26/09/2022
Daily (23.09.2022): Crude oil prices rebounded on Thursday amid strengthening Chinese demand
Crude oil prices rebounded on Thursday amid strengthening Chinese demand and a smaller-than-expected rate hike by the Bank of England, which instead of forecasts for a 75-basis point hike opted for a 50-bp increase. Thus, Brent crude and WTI crude added 0.7% to settle at $90.46 a barrel and $83.49 per barrel respectively.
read more... 23/09/2022