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Daily (05.03.2021): Oil prices soared by 4% on Thursday following the positive conclusion of the OPEC+ summit

Crude oil prices strengthened significantly on Thursday, as OPEC+ summit members concluded on a marginal increase in petroleum production. As a result, Brent oil and WTI crude both surged by 4.2% to trade at $66.74 a barrel and $63.83 a barrel, respectively.

read more... 05/03/2021

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China to speed up tapping new energy sources, but coal stays in mix

China set a modest five-year growth target on Friday for its nuclear power generation capacity and promised quicker development of alternative energy sources as it seeks to cut its carbon footprint, but left its coal industry largely untouched.

read more... 05/03/2021

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Daily (04.03.2021): Growing volumes of LNG supply pushed British gas prices lower on Wednesday

Oil prices surged on Wednesday, supported by decreasing gasoline reserves in the United States and anticipation for the OPEC+ summit on Thursday. As such, Brent oil increased by 2.2% to $64.07 a barrel and WTI crude soared by 2.6% to $61.28 a barrel.

read more... 04/03/2021

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Daily (03.03.2021): Oil prices tumbled to two-week lows on Tuesday amid expectations that OPEC will boost output

Crude oil prices remained on the back-foot for the fourth consecutive day on Tuesday amid expectations that OPEC+ producers will ease supply curbs at their meeting later this week as the global oil demand shows signs of recovery from the coronavirus pandemic. Hence, Brent crude dropped by 99 cents, or 1.6%, to settle at $62.70 a barrel, its lowest close since Feb. 12. U.S. WTI crude fell by 89 cents, or 1.5%, to $59.75, its lowest settlement since Feb. 19.

read more... 03/03/2021

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Brussels opens in-depth investigation into Germany’s coal phase-out plan

The German Bundestag sealed an agreement in June last year to compensate RWE and LEAG with €4.35 billion for closing the country’s last remaining coal plants and mining operations by 2038.

read more... 03/03/2021

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