Category: Energy

October 24, 2022

Oil edged up in choppy trade on Monday, as weakening U.S. business activity data eased expectations for more aggressive interest rate hikes, while data showing demand from China remained lacklustre in September limited prices. Brent crude futures for December settlement […]

October 21, 2022

Households will now be paid £3 per kilowatt hour instead of 52p if they avoid high-power activities – such as cooking and using the washing machine – when demand is high during peak hours. The scheme is aimed at easing […]

October 20, 2022

Across the U.S., families are looking to the winter with dread as energy costs soar and fuel supplies tighten. The Department of Energy is projecting sharp price increases for home heating compared with last winter and some worry whether heating […]

October 18, 2022

Oil prices were stable on Tuesday as the market balanced cuts to OPEC+ production quotas against fears of economic slowdown and lower Chinese fuel demand. Brent crude futures eased by 7 cents, or 0.08%, to $91.55 a barrel by 1127 […]

October 18, 2022

European Union leaders enter a crucial stretch this week to make sure runaway energy prices and short supplies do not further tank their struggling economies and foment unrest. At the same time, they need to keep all 27 members united […]

October 17, 2022

BRENT CRUDE OIL FUNDAMENTAL BACKDROP Brent crude oil opened the week marginally lower after demand side fears continue to overwhelm forecasts despite the recent OPEC+ supply cut announcement. The macro environment has slipped into further turmoil with the eurozone entering […]

October 12, 2022

The Energy Prices Bill will be introduced in the commons on Wednesday to bring into law its plan to help households and businesses with soaring energy costs over the winter and beyond. But late on Tuesday, the government revealed the […]

October 10, 2022

A government-appointed expert panel on Monday proposed a two-stage system for distributing up to 200 billion euros ($195 billion) in subsidies Germany has announced to ease the strain of high gas prices, a plan that the group said would still […]

October 7, 2022

European Union leaders converged on Prague Castle on a crisp Friday morning to try to bridge significant differences over a natural gas price cap as winter approaches and Russia’s war on Ukraine fuels a major energy crisis. The price cap […]

October 5, 2022

European Union countries agreed on Wednesday to impose new sanctions on Russia after it illegally annexed four regions in Ukraine, according to an EU official, including an expected price cap on Russian oil. EU member-state diplomats struck the deal in […]

October 5, 2022

Cornwall Insight, which became a prominent voice in predicting levels for the energy price cap before it was replaced by the government’s energy price guarantee (EPG) this month, said its findings showed a near doubling of the forecasts between the […]

October 4, 2022

There is a mounting risk that fuel prices could soon begin to rise again as major oil-producing countries ponder a big cut in output. The Opec+ cartel, which includes Saudi Arabia and Russia among its main members, is expected by […]

September 29, 2022

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. […]

September 28, 2022

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. […]

September 26, 2022

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 […]

September 26, 2022

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 […]

September 21, 2022

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 […]

September 20, 2022

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 […]

September 14, 2022

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 […]

September 12, 2022

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 […]