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Daily (17.08.2023): Gas prices retreated on Wednesday as stable supplies outweighed Australian gas workers strike concerns

Oil prices declined on Wednesday, influenced by a robust dollar and declining in U.S. crude inventories, even though crude production reached its highest point in three years at 12.7 million barrels per day. Thus, Brent crude fell by 1.7% to close at $83.45 a barrel, while WTI crude traded 2% lower at $79.38 a barrel.

read more... 17/08/2023

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UK’s Ofgem approves grid amnesty for 8GW of projects

The Office of Gas and Electricity Markets (Ofgem), the energy regulatory authority in the UK, and the UK’s electricity transmission operator National Grid ESO have agreed to connect backlog projects to the grid.

read more... 17/08/2023

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EU gas storage may face “reality check” in December

EU gas storage levels are well above the historical average but current supply and demand trends suggest inventories could be insufficient by December, said Sweden’s SEB bank on Tuesday.

read more... 16/08/2023

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Daily (11.08.2023): Gas prices retreated on Thursday amid hopes that a potential strike at an Australian LNG facility could be averted

Oil prices decreased due to a technical adjustment and concerns about the global economic outlook on Thursday. Recent data revealed that US core inflation increased to 3.2% in the previous month, a slight rise compared to June. The increase triggered speculation about the possibility of the Federal Reserve implementing another interest rate increase. As a result, Brent crude fell by 1.3% to $86.40 a barrel, while WTI crude declined by 1.9% to settle at $82.82 a barrel.

read more... 11/08/2023

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German gas price cap to cost less than assumed

Germany’s cap on gas bills is likely to cost the government EUR 13.1bn, only around a third of what Berlin had budgeted, the Ifo Institute for Economic Research said on Wednesday.

read more... 11/08/2023

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