Latest news and stories about energy prices in environment in Portugal for expats and residents.
The price of Brent crude has climbed above 100 dollars per barrel following Houthi attacks on Saudi oil tankers in the Red Sea. This two-month peak threatens to stall disinflation efforts and increase energy costs for consumers in Portugal.
Portugal ranks fifth among EU nations for the proportion of its budget allocated to energy support measures.
Smaller energy retailers are increasingly opting for shorter contracts to mitigate risks associated with geopolitical instability, such as the conflict in Iran, according to insights from the comparison service Manie.
The implementation of windfall profit taxes on energy companies remains a contentious policy, with experts questioning its effectiveness in mitigating the real-world impacts of the ongoing energy crisis.
The closure of the Strait of Hormuz exposes Europe's new energy vulnerabilities, as its shift from Russian gas to global LNG imports has created a fragile dependence on volatile maritime routes, threatening industrial stability and energy security.
Electricity prices during daylight hours have plummeted to near-zero levels, yet this significant shift in energy economics remains largely overlooked by the public and media.
The 'Solidarity Gas Cylinder' programme, originally launched in 2022 to offset rising energy costs caused by the war in Ukraine, has been officially relaunched to provide continued financial support for families.
The Portuguese Ministry of Environment reports that while there is no immediate risk of supply failure, the country is nearing the criteria for declaring an energy crisis due to rising fuel costs.
Brent crude oil prices climbed 5% to exceed $113 per barrel following retaliatory infrastructure strikes between Israel and Iran, raising concerns over global energy security and the Strait of Hormuz.
The military escalation in the Middle East, particularly the conflict in Iran, is exerting immediate pressure on global energy markets, leading to rising electricity prices in the Iberian Peninsula. Experts warn that the duration and severity of the conflict will significantly influence energy prices, with predictions of oil prices potentially reaching $90 to $100 if the situation persists. This escalation poses challenges for public finances in Portugal, as rising fuel and gas prices complicate economic stability.
7.2% increase compared to the previous day's close.
Europe is losing two races at the same time. It is losing the industry of the past, such as steel, ceramics, and chemicals, and it is losing the industry of the future, the data centres that will train AI.
Increased oil production in Brazil and the price of Brent crude boost the Portuguese oil company's results up to June.
At 3 PM, the price of a barrel of Brent crude oil surpassed the 100-dollar mark.
The value of oil has soared due to the conflict in the Middle East
Repsol's profits more than tripled by June compared to the same period last year, totaling 2.201 billion euros (+265%), reflecting the rise in crude oil and derivative prices. According to data reported to Spain's National Securities Market Commission (CNMV), the adjusted net profit...
The refined products market never fully believed in a lasting normalisation of supply chains.
Energy prices are expected to remain above the levels recorded before the war in the Middle East. This is at least the forecast from the International Monetary Fund (IMF), which projects an average price per barrel of crude oil of 89 dollars this year, about 32% higher than that recorded in 2025. The scenario is included in the update...
Some countries desperately want to gut the Emissions Trading System, others are determined to protect it. Ireland has its work cut out.
The price of Brent crude, a benchmark in Europe, fell below 75 dollars (nearly 66 euros) per barrel today for the first time since the start of the war in the Middle East.
Europe may not fare well in a gas bidding war with China.
Oil stockpiles have fallen to the lowest point recorded since 1990.
The International Energy Agency (IEA) has revised its forecasts downwards, now anticipating a 1.1 million barrel per day drop in global oil demand this year compared to 2025, reflecting the impact of the Middle East conflict and the closure of the Strait of Hormuz. The IEA warns that oil reserves could be exhausted within weeks.
The International Energy Agency (IEA) has again revised downwards its forecast for global oil demand in 2026, anticipating a reduction of 1.1 million barrels per day compared to 2025, due to the conflict in the Middle East. In its monthly oil market report, the international organisation reduced its forecast by a further 700,000 barrels per day.
The price of a barrel of oil dropped below 80 dollars as of 3 PM.
The price of a barrel of Brent crude for August delivery fell 4.67% this Monday to 83 dollars, following the peace agreement announced between the United States and Iran, and the expected reopening of the Strait of Hormuz.
The price started the week on the rise following bombardments between Israel and Iran. By 11:00 am, North Sea crude was trading at 96.70 dollars per barrel, more than 4% higher than on Friday.
Major European markets opened lower on a day marked by the escalation between Israel and Iran and rising energy prices, as investors also react to the negative performance of Wall Street.
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) decided to increase its production in July to 188,000 barrels per day. “As part of its collective commitment to the stability of the oil market, [OPEC+] decided to implement a production adjustment of 188,000 barrels per day” in July, the organization announced in a statement.
Investment by technology companies in artificial intelligence has already reached hundreds of billions of dollars and is expected to grow by 75% this year. Regarding the energy consumed by artificial intelligence, the trend has been steep: there is more demand for AI, triple the amount, and consumption has soared by 50% in...
