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Energy
WTI lowest since June 2023
U.S. crude oil hit the lowest level since June 2023, putting the benchmark on pace for its worst week in nearly a year, as OPEC+ has failed to reassure the market about the global supply and demand balance.U.S. crude hit a low of $67.17…
EDF offers fixed tariff £68 below price cap
EDF has announced a new fixed energy tariff that it claims is £68 cheaper than the upcoming Ofgem price cap.The “Essentials Fixed one year Sep25v2” tariff is set at £1,649, compared to the October price cap of £1,717.EDF is also offering…
Bitcoin ETFs saw heaviest outflows in four months as crypto plunged
CFOTO | Future Publishing | Getty ImagesSpot bitcoin exchange-traded funds had their worst day in over four months on Tuesday as investors pulled some of their money alongside a broader market selloff.More than $287 million was withdrawn…
No new UK oil and gas permits on the table
The government has no plans to issue new oil and gas licences and will not speculate on future legal costs.
Claire Coutinho, the Shadow Secretary of State for Energy Security and Net Zero, has asked the Secretary of State about the…
WTI lower as demand overshadows Libya risk
U.S. crude oil fell more than 1% Wednesday to settle below $75 per barrel as the market continues to shed gains made earlier in the week on the threat of supply disruptions in Libya."Oil prices remain range-bound, despite the potential…
‘Fuel prices should drop by 6p’
The RAC has urged major UK fuel retailers to lower petrol and diesel prices by 6p per litre.This call comes as wholesale fuel prices have decreased.The RAC points out that while wholesale petrol averaged 103p per litre last week, drivers…
It’s not completely bad news that Nvidia fell
A view of NVIDIA headquarters in Santa Clara of Silicon Valley, California, United States on August 28, 2024. Tayfun Coskun | Anadolu | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC…
No cash penalties for new energy body
New rules for the National Energy System Operator (NESO) will forgo financial penalties for breaches and focus on reputational consequences instead.The new NESO will be established under the Energy Act 2023.NESO will manage electricity,…
WTI rises after two days of losses
U.S. crude oil futures rose nearly 2% on Thursday, rebounding after a two-day losing streak as Libya confirmed major disruptions in its oil output. Production in Libya has fallen by 1.5 million barrels over the past three days for a…
Flagship Energy’s Tejal Shah Energy Markets Update – 28th August 2024
Last week we saw UK and European gas prices ease off recent highs, however this week has seen a resurgence in the bullish momentum. Once again geopolitical and supply risk appear to be the reason for the gains. The market continues to…