Low thermostat and woolen socks: Europeans are bracing for a tough winter with Russian natural gas cut, after the Russian invasion turned the energy world upside down. On the front line, the Latvians have, since the end of July, no Russian gas at all and know what to expect in the coming months. “Energy prices […]
Tag: Energy
The New World Energy Order: A War of Attrition
Of Tilak Doshi Wars of attrition are defined as those during which opposing forces do not face off in direct combat with all of their forces, but instead aim to exhaust each other over a period of time. Classical free trade is largely voluntary and mutually beneficial to the contracting parties. But unilaterally imposed economic […]
To Canada Soltz and Habeck for climate and energy cooperation
Federal Chancellor Olaf Solz (SPD) and Economy Minister Robert Habeck (Greens) will travel to Canada on Sunday with a delegation of business representatives. Along with Canadian Prime Minister Justin Trudeau, he is scheduled to visit Montreal, Toronto and Stephenville, a coastal city in Newfoundland, through Tuesday. The trip will focus on bilateral cooperation in the […]
Oil: WTI extends the advance and approaches $90.00
Oil prices rise despite fall in stock markets and improvement of the dollar. WTI barrel moves away from recent lows. Oil prices are rising on Thursday, despite lower equity markets and a stronger dollar. US inventory data on Wednesday showed a larger-than-expected drop. The WTI barrel price (trading platforms) is trading at the $89.50 zone, […]
Oil: WTI up modestly, still near recent bottom
Improved market sentiment boosts oil. WTI remains above the recent low. The prices of Petroleum they operate without major changes on Tuesday. The price of a barrel of WTI (spot on platforms) stands at $88.90, after having reached $90.00. The financial markets do not show significant variations on Tuesday. Oil prices recover but remain close […]
EUR/USD may remain near lows during the second half of 2022 – ING
Rate differentials and the impact of energy revenues make the environment very difficult for the euro. Therefore, ING strategists report that EUR/USD should be close to parity for much of the second half of the year. Late cycle economies will keep the dollar bid “It seems pretty clear that the US is a late cycle […]
Oil Futures: Door Open to Further Weakness
Preliminary data from CME Group for crude oil futures markets indicates that traders added about 2,500 contracts to their open interest positions on Friday, marking the second consecutive daily increase. Volume, on the other hand, was noticeably down by around 245,300 contracts after three consecutive daily increases. WTI remains capped by the 200-day SMA Barrel […]
New permanent and extraordinary measures amounting to 4.5 billion for the two years 2022-2023
By Tasos Dasopoulos Continuing to support citizens with measures amounting to 3 billion euros until mid-2023 and new, permanent interventions amounting to more than 1.5 billion euros for the next year is planned by the economic staff despite the impending peak of the energy crisis in the autumn and of increasing the cost of money. […]
Natural Gas Futures: Rebound Could Lose Traction
Open interest in natural gas futures markets continued the downward trend and fell by just 169 contracts on Wednesday, according to preliminary readings from the CME Group. On the other hand, volume resumed its upward trend and rose by some 53,400 contracts, partially offsetting the previous drop. Natural Gas remains supported around $7.50 Natural gas […]
IEA: Oil demand will increase by 2.1 million bpd in 2023 and exceed pre-covid levels
In its monthly report published on Thursday, The International Energy Agency (IEA) has said it expects global oil demand to rise by 2.1 million barrels per day in 2023. to exceed pre-Covid levels, by 101.8 million barrels, Reuters reports. Additional comments “Russian oil exports fell by 115,000 bpd in July to 7.4 million bpd, from […]
