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Solar power tariff has dropped to an all-time
today
Source: Economic Times

Solar power tariff has dropped to an all-time

Now solar power tariff dropped to a new low of Rs 1.99 per unit in an auction for 500MW projects by GUVNL last week and State-run power giant NTPC, Torrent Power, Saudi Arabian firm Al Jomaih Energy and Water Co. and Aditya Birla Renewable have emerged the lowest quoting Rs 1.99 per unit under auction" as told by a source.

Big Oil is buying into the solar boom
yesterday
Source: Oil Price

Big Oil is buying into the solar boom

After a difficult year in the oil world, Total is planning to invest in India's solar sector going into the next decade. The French company plans to invest $2.5 billion for a 20 percent stake in Adani Green Energy Ltd., the world's largest solar developer.The share of solar power-produced electricity has increased significantly in recent years, currently at around 22 percent, up from around 10 percent in 2014-15.

Saudi Arabia remained China's Top Oil Supplier in 2020
yesterday
Source: Oil Price

Saudi Arabia remained China's Top Oil Supplier in 2020

Saudi Arabia narrowly beat Russia to hold onto the title of the single largest oil supplier to the world's biggest oil importer, China, in 2020.For most of last year, Saudi Arabia and Russia, were head-to-head in a very close race. In the end, Saudi Arabia edged past Russia, shipping on average 1.69 million barrels per day of oil to China.

Oil declines by 1 percent
Jan. 18, 2021
Source: Reuters

Oil declines by 1 percent

Oil prices fell on Monday, extending losses that last week ended a rally driven by production cuts and strong Chinese demand. Brent crude fell nearly 1%, to $54.65 a barrel. U.S. oil was down by nearly 1%, at $51.93 a barrel. U.S. drillers added pressure by putting more rigs to work for an eighth consecutive week last week.

Oil prices increased on Wednesday
Jan. 6, 2021
Source: Reuters

Oil prices increased on Wednesday

Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers, while industry figures showed U.S. crude stockpiles were down last week. Brent crude rose as much as nearly 1% to $54.09 a barrel. U.S. West Texas Intermediate (WTI) futures reached $50.24 a barrel.

Increasing lockdown in Europe bring down oil prices
Dec. 16, 2020
Source: Reuters

Increasing lockdown in Europe bring down oil prices

The six week long futures rally has come to a halt with the increasing lockdown in Europe. As a result, oil prices fell on Wednesday. Brent dropped and was traded at $50.51 a barrel. WTI went down and was traded at $47.28 a barrel. Slower US spendings and substantial decrease in the demand for refined products has adversely affected the market sentiments.

Brent touches $50 mark
Dec. 14, 2020
Source: Reuters

Brent touches $50 mark

On Monday, oil prices climbed on the back of hopes of improvement in fuel demand after vaccine rollout. However, tanker explosion in Saudi Arabia capped the gains of the session. Brent went up bu 0.8% and was traded at $50.35 a barrel. WTI increased by 0.7% and was traded at $46.89 a barrel.

Britain approves COVID-19 vaccine, oil prices rise
Dec. 10, 2020

Britain approves COVID-19 vaccine, oil prices rise

With the rollout of COVID-19 vaccine in Britain, oil prices rose on Thursday. And the United States is also expected to approve the vaccine soon which would witness a spur in fuel demand. WTI went up by 0.5% and was traded at $45.75 a barrel. Brent increased by 0.4% and was traded at $49.07 a barrel.

Oil prices stumble over rising coronavirus cases
Dec. 8, 2020

Oil prices stumble over rising coronavirus cases

Coronavirus cases continue to rise in the United States and Europe. Oil prices added to the losses of the previous session on Tuesday. WTI slipped by 0.4%, to $45.58 a barrel. Brent fell by 0.5%, to $48.55 a barrel. ANZ Research said, "For the moment, the market is happy to look past these issues as the vaccine rollout begins; however the economic headwinds are building in the short term".

Oil prices decline
Dec. 7, 2020
Source: Reuters

Oil prices decline

On Monday, rising coronavirus cases in different parts of the world led to the decline in oil prices. The increasing tension between the US and China also contributed towards this downfall. Brent went down by 1.5% and was traded at $48.49 a barrel. WTI slipped by 1.8% and was traded at $45.44 a barrel.

Oil prices drop over sudden rise in US stocks
Dec. 2, 2020
Source: Reuters

Oil prices drop over sudden rise in US stocks

OPEC+ has left the market in the state of uncertainty by delaying the decision on January's output. Oil prices dropped on Wednesday over these sentiments and a sudden build in oil inventories in the United States. Brent slipped by 0.9% and was traded at $47.01 a barrel. WTI decreased by 1% and was traded at $44.09 a barrel.

Oil prices dropped on Monday
Nov. 30, 2020
Source: Reuters

Oil prices dropped on Monday

Oil prices dropped on Monday ahead of the OPEC+ meeting. Brent dropped by 1% and was traded at $47.72 a barrel. WTI slipped by 1.1% and was traded at $45.05 a barrel. The producer group met on Sunday but hasn't decided on oil output policy for 2021. Further talks will be held on Monday and Tuesday.

Oil prices remained on course for gains on Friday
Nov. 27, 2020
Source: Reuters

Oil prices remained on course for gains on Friday

A weak dollar and recent vaccine progress lifted the spirit of the market on Friday. Brent increased by 0.6%, to $48.08 a barrel. WTI was down by 0.9%, to $45.31. However, JP Morgan stated, “While a successful vaccine rollout should break the link between infection and mobility, even then global oil demand will likely only reach its pre-pandemic run rate by mid-2022”.

Sudden drop on crude inventories result in improved WTI
Nov. 26, 2020

Sudden drop on crude inventories result in improved WTI

Drop in crude inventories led to the increase in US oil on Thursday. This also resulted in a series of positive sentiments concerned with coronavirus vaccine and fuel demand. WTI increased by 0.3% and was traded at $45.85 a barrel. Brent crude futures were up by 0.4% and were traded at $48.81 a barrel.

Oil prices improve on Monday
Nov. 23, 2020
Source: Reuters

Oil prices improve on Monday

Successful coronavirus vaccine trials have helped the market extend the gains on Monday. Traders are looking for a substantial recovery in the demand of the crude. However, the gains were capped by the renewed lockdown in several countries. Brent increased by 0.5% and was traded at $45.17 a barrel. WTI gained 0.2% and was traded at $42.52 a barrel.

Oil prices shed gains over rising coronavirus cases
Nov. 19, 2020
Source: Reuters

Oil prices shed gains over rising coronavirus cases

With the surge in coronavirus cases, on Thursday, oil futures shed gains from the previous day. There has been a wave of demand concerns weighing down upbeat vaccine news. Brent decreased by 0.4% and was traded at $44.17 a barrel. WTI went down by 0.7% and was traded at $41.53 a barrel. The economic damage due to COVID-19 overshadowed the vaccine news from Pfizer and BioNTech.

US crude stocks rise, demand weaken
Nov. 18, 2020

US crude stocks rise, demand weaken

US crude stocks rose above the market expectations on Wednesday. As a result, oil prices were stable. Further, weaker US retail sales have brought back demand fears. Brent increased by 0.1% and was traded at $43.78 a barrel. WTI went up by 0.1% and was traded at $41.40 a barrel. Hopes of production cut from OPEC and its allies have held the market for now.

Oil prices increase ahead of OPEC+ meeting
Nov. 17, 2020
Source: Reuters

Oil prices increase ahead of OPEC+ meeting

Coronavirus vaccine hopes and OPEC+ meeting drive oil prices uphill on Tuesday. The industry is hoping that OPEC+ will extend the oil production cuts for at least three months. Brent went up by 0.4%, to $43.98 a barrel. WTI increased by 0.3% and was traded at $41.47 a barrel. Further, Bernstein Energy said, “Oil demand in China is exceeding pre-COVID-19 levels which suggest oil demand is not permanently impaired”.

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