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Daily (24.08.2022): Oil prices rose on Tuesday following Saudi Arabia suggestion to cut OPEC output
Tuesday saw an increase in oil prices following Saudi Arabia's suggestion that output from OPEC+ be cut to sustain prices if Iranian petroleum returns. The likelihood of a reduction in U.S. stocks supported the price of Brent crude oil, which ended 3.9% higher at $100.22. WTI crude increased by 3.7% to $93.74.
read more... 24/08/2022
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Germany split over EU’s suggested electricity market reform
The EU’s Agency for the Cooperation of Energy Regulators (ACER) has recommended splitting up Germany’s single electricity bidding zone in a move that prompted concern in the country’s south, where prices are kept artificially low.
read more... 24/08/2022
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Norway eyes high gas output until 2030
Norway plans to maintain its current high gas production level until the end of the decade as Europe plans to ditch Russian imports over Moscow's invasion of Ukraine, its energy minister said on Tuesday.
read more... 24/08/2022
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TotalEnergies and SSE Renewables' Seagreen wind farm up and running
TotalEnergies and partner SSE Renewables on Tuesday announced the first power generation from their Seagreen wind farm off the coast of Scotland -- a $4.3 billion project which will be Scotland's largest offshore wind farm.
read more... 24/08/2022
Daily (23.08.2022): Gas and power prices are going crazy!
Crude oil prices dropped to end the day almost flat on Monday despite OPEC's warning that it could need to tighten production. The prospect of a nuclear agreement that would allow Iran's oil to be sold again after sanctions dampened the settlement. As such, Brent crude lost 0.3% to settle at $96.48 a barrel, while WTI decreased by 0.5% to $90.77.
read more... 23/08/2022