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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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Daily (02.03.2021): Oil prices fell sharply on Monday amid jitters that OPEC will raise output

Crude oil futures extended losses on Monday amid supply concerns ahead of the OPEC+ key meeting on Thursday, rising output from Venezuela, and weak crude demand from China. Hence, Brent crude settled at $63.69 a barrel, dropping by $2.44, or 3.7%. Meanwhile, U.S. WTI crude fell by 0.86 cents or 1.4%, to end at $60.64 a barrel.

read more... 02/03/2021

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Daily (01.03.2021): Oil prices fell on Friday amid strong U.S. dollar, concerns of stronger supply, but notched weekly gains

Oil prices fell on Friday amid a stronger U.S. dollar and concerns that crude oil supply would rise in response to prices rebounding above pre-pandemic levels. Hence, Brent crude declined by 75 cents, or 1.1%, to settle at $66.13 a barrel. Meanwhile, U.S. WTI crude settled $2.03, or 3.2%, lower at $61.50 per barrel. However, on a weekly basis, Brent surged by 5.1%, while WTI soared by 3.8% and both hiked by 20% in February on supply disruptions in the United States and optimism over demand recovery on the back of COVID-19 vaccination rollout.

read more... 01/03/2021

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Ukraine warns of reduction in Russian gas flows to Europe amid high energy demand

Russian state-controlled gas monopoly Gazprom is to reduce gas transit volumes across Ukraine to Europe, despite high demand on the continent due to persistent cold weather.

read more... 25/02/2021

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German solar batteries demand soar by nearly 50% in 2020

Demand for German solar batteries soared by 47% last year.

read more... 25/02/2021

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