Switzerland will begin releasing oil reserves today as part of its plan to release a total of 245,000 cubic meters by September. The decision came after a prolonged drought led to record-low water levels on the Rhine River, reducing loading quantities for oil-carrying ships and causing supply constraints. In the Upper Rhine, barges have only…
The United States wants to cut its dependence on Russian fuels. But Switzerland and Europe cannot completely do without Russian gas, says René Bautz, the CEO of Gaznat, which supplies high-pressure gas to western Switzerland, and president of the Global Gas Centre platform for the natural gas sector. Swissinfo.ch: In Switzerland, the price of gas…
Switzerland is planning new hydropower reserves and three back-up power stations to prepare for any potential energy crunch in the coming years. The Swiss government wants to strengthen the supply of future energy and the national power network as it phases out nuclear energy and creates more renewables, including hydropower. The government announced on Thursday…
Oil tanker stocks could be set for a possible resurgence, with oversupply pushing storage capacities to their limits. The energy market has been hit hard over recent months, with the coronavirus crisis sparking a huge slump in both current and expected demand. While we have seen Russia and Saudi Arabia agree to cut production, the…
The oil market is heavily influenced by political announcements from the likes of OPEC and the US, the main oil suppliers and key drivers of the oil price. Here, we highlight some of the types of announcement any oil trader should keep an eye out for. Crude oil prices are driven by a host of…