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Oil down on build of US crude stocks, China's effort to ease coal crunch
- Oil becomes more desirable for power ahead of winter heating season, triggering demand concerns and outstripping supply
Europe's gas storage levels fall by over 20% in Jan-Sept.
- Country with most gas in its storage is Italy with 17.6 billion cubic meters, according to official data
Greater demand ahead of winter drives oil prices up amid energy crunch
- Oil, much in demand as alternative fuel to costly coal, gas, is triggering demand concerns and outstripping supply
Europe turning to nuclear power amid global energy price increase
- EU Commission due to announce its final list of green investments in a few months
Oil prices up on continuation of energy crunch, demand recovery
- Easing restrictions around world could boost fuel consumption
Power prices surge by 150% in European markets and 75% in Turkish market
- Record natural gas and coal prices in Europe due to energy crisis also hit power markets
Turkey's daily power consumption up 0.12% on Oct. 15
- Electricity exports amount to 14,625 megawatt-hours, while imports total 11,467 megawatt-hours
US oil rig count up by 12 for week ending Oct. 15
- Number of US oil rigs rise by 240 compared to one year ago
Brent oil climbs over $85 a barrel over supply deficit concerns
- Rising demand fueled by switching from natural gas to oil deepens ongoing global energy crisis, pushing prices up
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Oil up over 1% from rising demand for week ending Oct. 15
- Although US crude oil stocks record surprise build, oil prices continue upward movement amid global energy crisis
Spot market natural gas prices for Thursday, Oct. 14
- 1,000 cubic meters of natural gas on spot market costs 2,982 Turkish liras
Spot market electricity prices for Saturday, Oct. 16
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 324.9 million Turkish liras
New France-led 'nuclear alliance' in Europe could lead to conflict
- France, with largest nuclear capacity in Europe, is boosting investments in nuclear amid energy crunch on continent
Subsea 7-Schlumberger consortium wins major contract offshore Turkey
- Project management/engineering for Sakarya gas field development will be managed from Subsea 7 office in Istanbul, Turkey
Oil up as industries continue favoring cheaper oil for power generation
- Unexpected rise in US crude oil stocks was not enough to cool down upswing in oil prices
US crude oil inventories up 1.4% for week ending Oct. 8
- Commercial crude oil stocks increase by 6.1 million barrels, higher than market expectation of 140,000-barrel rise
Turkey signs new gas supply deal with Azerbaijan: Energy Minister
- Turkey makes progress in securing additional natural gas supplies ahead of anticipated increase in winter, says Minister
Spot market natural gas prices for Wednesday, Oct. 13
- 1,000 cubic meters of natural gas on spot market costs 3,103 Turkish liras
Spot market electricity prices for Friday, Oct. 15
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 341.74 million Turkish liras
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IEA 2021/2022 oil demand forecast up from global switch to oil from coal, gas
- Supply crunch is impacting power generation plants, fertilizer producers, manufacturing operations and refineries, says IEA
Oil prices up as declining US fuel stocks signal rising demand
- Crude demand and prices rise as power generators switch from natural gas to oil
Net zero emissions by 2050 will require up to six-times more minerals
- Lithium is estimated to see fastest growth with demand up over 100 times from current level through to 2050, IEA says
Energy, food crises growing in UK, expert says
- 'We've seen unusual reactions like panic-buying people rushing to get petrol,' Martyn James says
EU unveils "toolbox" to tackle sharp spike in energy prices
- Toolbox presented Wednesday allows for coordinated response to protect those most at risk, the Commission says
Spot market electricity prices for Thursday, Oct. 14
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 377.87 million Turkish liras
OPEC revises down 2021 global oil demand, keeps it unchanged for 2022
- Crude output rises mainly in Nigeria, Saudi Arabia, but decreases in Venezuela, Libya, says OPEC
Turkey ready to cope with greater energy demand in winter
- Long-term natural gas contracts will help Turkey meet its increasing energy demand, says Donmez
Clean energy investments need to more than triple by 2030 to curb emissions
- New energy economy is emerging but not yet quickly enough to reach net zero emissions by 2050: IEA's World Energy Outlook 2021