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Category: Energy


Energy, Industries

Oil near $90 as OPEC+ considers output cut

September 29, 2022

Via: Investing.com

Oil prices steadied on Thursday as indications that OPEC+ might cut output were tempered by a stronger dollar and weak economic outlook. Brent crude futures for November edged up 26 cents, or 0.3%, to $89.58 a barrel by 1354 GMT. […]


Energy, Industries

Oil prices rise on surprise drop in U.S. crude, fuel stocks

September 28, 2022

Via: Investing.com

Oil prices rose on Wednesday following unexpected drawdowns in U.S. crude and fuel stocks, outweighing downward pressure from the continued strength in the U.S. dollar. Brent crude futures were up $2.33, or 2.7%, at $88.60 per barrel by 11:05 a.m. […]


Energy, Industries

Germany secures natural gas deal with the UAE as Berlin rushes to replace Russian supply before winter

September 26, 2022

Via: Markets Insider

Germany signed a natural gas deal with the United Arab Emirates on Sunday, as the European country scrambles to find alternatives to cut-off Russian energy imports before winter kicks in. Under the deal, German utility giant RWE will get liquefied […]


Energy, Industries

Lights out, ovens off: Europe preps for winter energy crisis

September 26, 2022

Via: ABC News

As Europe heads into winter in the throes of an energy crisis, offices are getting chillier. Statues and historic buildings are going dark. Bakers who can’t afford to heat their ovens are talking about giving up, while fruit and vegetable […]


Energy, Industries

All UK businesses secure energy support package ‘costing tens of millions’ to slash bills

September 21, 2022

Via: Sky News

Firms across the UK will see government-funded cuts to their energy bills in line with the reductions that have already been announced for homes. The level of discount will depend on what companies are already paying but respected market expert […]


Energy, Industries

Energy Price Guarantee: Liz Truss’s gigantic state handout

September 20, 2022

Via: MoneyWeek

Last Thursday the new prime minister Liz Truss, who had previously dismissed “handouts” as a way of tackling the cost of living crisis, announced a taxpayer-funded “Energy Price Guarantee” that amounts to a two-year direct grant to all households, regardless […]


Energy, Industries

Energy crisis: EU chief wants to tap excess producer profits

September 14, 2022

Via: ABC News

A top European Union official unveiled a plan Wednesday to cap the revenue of electricity producers that are making extraordinary profits because of the effects of Russia’s war in Ukraine and climate change, saying the proposal could raise $140 billion […]


Energy, Industries

Explainer-The G7’s price cap on Russian oil begins to take shape

September 12, 2022

Via: Investing.com

The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow’s ability to fund its invasion of Ukraine, a plan analysts say could work in the long term but might boost […]


Energy, Industries

EU nations struggle to find joint approach on energy prices

September 9, 2022

Via: ABC News

European Union nations struggled to find common ground Friday on ways to shield the population from dramatically increasing energy prices that threaten to plunge millions into cold and poverty over the winter as Russia chokes off natural gas supplies. As […]


Energy, Industries

As Russia vows to retaliate against oil price caps, a slate of geopolitical risks could send crude prices soaring — or bring it crashing down

September 7, 2022

Via: Markets Insider

First, as you may have heard, Russia cut the tap indefinitely for Nord Stream 1 pipeline gas flows. Russian President Vladimir Putin today blamed Germany and Western sanctions for the halt in operations, but said that gas flows could restart […]


Energy, Industries

EXPLAINER: Europe struggles with crisis as Russia cuts gas

September 7, 2022

Via: ABC News

Europe is struggling to contain an energy crisis that could lead to rolling blackouts, shuttered factories and a deep recession. The primary cause: Russia has choked off the supplies of cheap natural gas that the continent depended on for years […]


Energy, Industries

Russia sends more energy to Asia as Europe cuts back

September 6, 2022

Via: ABC News

Russia sent significantly more oil and coal to India and China over the summer compared with the start of the year, while European countries that long relied on Russian energy have cut back sharply in response to the war in […]


Energy, Industries

Truss warms to wholesale gas price cap to freeze energy bills

September 6, 2022

Via: Sky News

A cap on wholesale gas costs to freeze energy bills at their current level is being finalised by the government as it moves to shield households and businesses from soaring prices. The action is set to be the first major […]


Energy, Industries

The US and its allies are getting close to a price cap on Russian oil – which could slash Moscow’s revenues yet send crude soaring

September 1, 2022

Via: Markets Insider

The US and its G7 allies plan to meet Friday to discuss putting a limit on the price of Russian oil, a move that could cut the revenue flowing into Moscow’s coffers — but risks sending crude prices soaring. The […]


Energy, Industries

Oil Price Technical Forecast: Crude Plunge Threatens Major Break

September 1, 2022

Via: DailyFX

Crude oil prices plunged more than 30% off the June highs with WTI spilling into a key technical support zone. Despite a steep weekly sell-off and a range of nearly 11%, oil continues to trade just above this critical zone […]


Energy, Industries

Germany upbeat on energy security; Russia cuts gas to France

August 30, 2022

Via: ABC News

German Chancellor Olaf Scholz said Tuesday that his country is well-prepared to tackle a possible energy shortage because of Russia’s squeeze on European gas supplies, even as fears grow about the juggernaut of rising prices that will likely hit consumers […]


Energy, Industries

Oil tumbles on inflation woes, Iraq exports

August 30, 2022

Via: Investing.com

Oil prices fell Tuesday on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes. Brent crude futures for October settlement fell $2.45, or 2.33%, to $102.64 a […]


Energy, Industries

Elon Musk Says World Needs More Oil and Gas

August 29, 2022

Via: The Wall Street Journal

Tesla Inc. boss Elon Musk told European energy leaders that the world needs more oil and natural gas and should continue operating nuclear power plants while investing heavily in renewable energy sources. “I think we actually need more oil and […]


Energy, Industries

Britain to see 80% spike in energy bills as crisis worsens

August 26, 2022

Via: ABC News

Jennifer Jones keeps feeding money into her energy meter, but it never seems to be enough. And when she can’t pay, she feels the impact immediately. The power in her London home has gone off suddenly three times recently, once […]


Energy, Industries

US strategic oil reserves have hit their lowest level since 1985 after Joe Biden’s record sales

August 23, 2022

Via: Markets Insider

The US’s strategic oil reserves fell to their lowest level in 37 years last week as the releases ordered by President Joe Biden continued. Strategic petroleum reserve (SPR) stockpiles fell to 453.1 million barrels in the week to Friday, according […]