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EIA: Energy prices to rise 59% in 2021

 Last Update: 2022-01-23
 Source: Internet
 Author: User

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Energy prices at the end of 2021 are up 59% from the beginning of the year, according to a new report from the U.

During the pandemic, the rise in energy prices outweighed the gains from other commodities

In the energy component of the commodities index, which tracks the performance of global commodity markets, RBOB (wholesale gasoline) rose the most at 67%, followed by heating oil, then WTI and Brent

WTI and Brent oil prices rose 62% and 55%, respectively

Factors supporting energy index prices include weather disruptions (including freezing and Hurricane Ida in February 2021), as well as increased gasoline and diesel demand, and crude oil and natural gas demand rising faster than production

The pandemic has reduced investment in oil and gas to near-record loads, magnifying the disparity between crude supply and demand

Soaring energy prices in the U.

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