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Traders are still investing in oil by-products despite the price cap in oil markets. Bloomberg data released on Tuesday 6th of February, showed that the open interest in primary oil futures contracts has peaked since March 2022. Oil derivatives of almost 660 million barrels have been added this year, yet…
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The Swiss National Bank (SNB) was urged to divest from oil and gas fracking companies on Monday, when climate activists handed over a petition signed by 60,000 people demanding the Swiss central bank exit its fracking investments. Last month, a study by SNB Coalition and Climate Alliance Switzerland showed that the Swiss bank had investments…
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Global food commodity prices are set for respite in 2024 after three years of record highs caused by war, adverse weather and rising energy and input costs, according to Rabobank’s annual Agri Commodity Markets Outlook report. Related Posted in Commodities, News
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Carmakers in the United States have been eager to help advance the EV agenda in the past half a decade or so. Ford, GM, and all the European and Japanese majors have poured billions into a whole new lineup of all-electric vehicles in anticipation of mass adoption. Now, they’re hitting the brakes. In July last…
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In the U.K., the government is investing in the assessment of the potential for old coal mine sites to be converted into renewable energy hubs. As many governments around the globe aim to phase out the use of coal, researchers are exploring the potential for old mining sites. Rather than be left abandoned, ex-coal production…
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To deal with a water shortage, a new rule banned car washing and filling empty pools, starting from Thursday 8th of February. This affects over six million people in Catalonia, including Barcelona, across 200 communities. The reason for the restrictions is that reservoirs are alarmingly low, at around 16% capacity. Concern is etched on Anna…
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Last week thermal coal indices on the European market surged up to 110 USD/t, driven by the introduction of sanctions against major Russian coal companies (SUEK and Mechel) as well as strengthening of gas prices and a reduction in stockpiles at ARA terminals. At the same time, negative fundamental factors remain, including warmer temperatures and…
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The Biden administration granted a fuel policy change designed to boost sales of corn-based ethanol — but delayed the shift until next year amid concerns a too-rapid transition could spur gasoline price spikes this summer. The approach underscores how election-year politics are complicating energy policymaking in Washington, as President Joe Biden seeks to propel climate…
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Europe is set for a boom in battery storage installations with grid-scale capacity expected to jump sevenfold by the end of this decade and represent $84 billion (78 billion euros) in total investment opportunities through 2050, Aurora Energy Research said in a new report this week. As a key enabler of renewables rollout, battery storage…
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Global demand for liquefied natural gas (LNG) is expected to surge by 50% by 2040, driven by higher demand from Asia, with coal-to-gas switching in China and a boost in LNG consumption to fuel economic growth in South and Southeast Asia, Shell said on Wednesday. Last year, global trade in LNG reached 404 million tons,…