archiveEnergy

LONDON, July 17 (Reuters) - Portfolio investors surged back into petroleum as Saudi Arabia’s unilateral production cut removed much of the previous downside risk to oil prices from slowing economies in China and Europe.Hedge funds and other money managers purchased the equivalent of 115 million barrels in the six most important petroleum futures and options contracts over the seven days ending on July 11.The increase was among the largest recorded over the last ten years (the 14th largest out of 539 weeks since 2013) and points to a significant adjustment...

LONDON, July 10 (Reuters) - Portfolio investors tip-toed back into crude oil as Saudi Arabia extended its unilateral production cut for at least another month, dissipating some of the extreme pessimism gripping the market at the end of June.Hedge funds and other money managers purchased the equivalent of 47 million barrels in the six major petroleum futures and options contracts over the week ending on July 3-4.Buying was concentrated in crude (+52 million barrels) with purchases of Brent (+25 million) and NYMEX and ICE WTI (+27 million), according to exchange...

Supply chain support promised by Europe must accelerate factory construction, lower operating risks and nurture new solar technologies that will come to rise in the coming years, industry experts said.Europe is facing crucial funding decisions to create a solar supply chain that is competitive and sustainable.European Union leaders have called for a rapid expansion of solar power and an acceleration in manufacturing capacity to reduce the region's reliance on imports from Asia.China dominates global solar supply and U.S. factory construction is soaring on the back of the Biden administration's Inflation...