Oil prices plummet after hitting highs since late July. Fears of a global recession are once again affecting the markets. Oil prices are falling sharply on Tuesday, on concerns about the global recession. A barrel of WTI (trading platforms) is below $93.00, erasing Monday’s strong gains. Hours ago, the price of WTI had climbed to […]
Tag: Energy
EUR/USD should remain in a range of 0.9900-1.0100 this week – ING
EUR/USD has found some support near 0.9920 but remains vulnerable. As reported by economists at ING, the pair will trade within a range of 0.99-1.01 this week. Pay attention this week to natural gas prices “Markets are now pricing in a 63 basis point ECB rate hike on September 8 – we expect 50 basis […]
Europe Approaches Gas Storage Target Despite Reduced Russian Supply – Bloomberg
The market’s cautious optimism was further strengthened by the latest news from Bloomberg on the Eurozone’s ability to fight the energy crisis during the Asian session on Tuesday. “The European Union is ready to meet its gas storage target two months ahead of scheduleas the bloc braces for a harsh winter as Russia limits supplies […]
EIA: Russia’s oil production has not fallen as much as expected — Fatih Birol
The head of the International Energy Agency (EIA), Fatih Birol, He noted on Monday that Russia’s oil production had not fallen as much as expected because it managed to find new markets outside Europe and added that domestic demand remained strong, according to Reuters. “In the future, it would be difficult for Russia to maintain […]
Oil: WTI extends recovery and hits highs in weeks
Oil prices are boosted on Monday despite low stock markets. Expectation of a possible cut by OPEC + helps the rises. Oil prices are rising on Monday despite the gloomy mood in financial markets. The increases exceed 2.50%, with some at maximum in weeks. In this way, they extend the recovery from the lows in […]
EUR/USD: The impact of energy on growth will limit the ECB’s ability to support the euro – MUFG
The current rise in gas prices in Europe has encouraged market participants to anticipate further tightening by the European Central Bank (ECB). However, according to economists from MUFG Bankthe Growth risks will keep the euro under pressure. Higher risks of the ECB defaulting on rate hikes compared to the Fed “If EUR/USD extends further lower […]
New record on the Energy Exchange – Close to 700 euros per megawatt hour
Electricity prices set a new record high tomorrow as the average price stands at 697.25 euros per megawatt hour with the high reaching 871 euros. It is recalled that the prices of the Stock Exchange are not passed on to consumers as since July a ceiling has been imposed on the prices per megawatt hour […]
Switzerland: Group of politicians starts collecting signatures to keep nuclear power
A group of Swiss politicians has formed ‘Stop Blackouts’ which will begin collecting signatures for a petition to review the country’s energy policy to ensure adequate energy supplies and keep nuclear power in the mix. Switzerland plans to shut down its five nuclear reactors following a decision taken in 2017 due to safety concerns following […]
Energy: Consumption up in last seven months despite rising prices
Despite the energy crisis and the jump in prices, the consumption of both electricity and liquid fuels (petrol and diesel) remain higher than last year, according to the latest available data for the 7th month of 2022 compared to the corresponding last season. The causes of the increase, according to market estimates, include on the […]
Oil: WTI falls to three-day lows after US data
Crude oil prices changed trend after reporting personal income and spending. Market focus on Jerome Powell’s speech. The dollar falls on all fronts. The prices of Petroleum erased the day’s gains after the US personal income and spending report. The expectation now turns to Powell’s speech. The barrel of WTI (trading platforms) went from close […]
