Fuel prices are becoming more expensive every day.

After a relatively stable period US oil pricing on local stock exchanges and Brent crude oil at the ICE in London, at the end of May 2022, an increase could be observed again. All because of easing the anti-Covid policy in China, but also thanks to the work in the EU on introducing an embargo on oil extracted in Russia.

As a result, West Texas Intermediate crude oil in July deliveries cost the NYMEX in New York more than $ 116 a barrel. Meanwhile, Brent crude oil on ICE in London also in July deliveries was valued at just over $ 112 per barrel.

The zloty market at the end of May

On Friday, May 27, 2022, the Polish zloty was gaining on the currency exchange. Then exchange rate to the dollar was at 10 am Polish time PLN 4.2772, and in relation to Euro quotations 4.5969 PLN. The weakness of the dollar became visible and the US currency fell to a one-month low. All because of the information flowing to investors about the possibility of a slowdown in the monetary policy tightening cycle in the US in the second half of 2022.

Later, coal mines will be shut down in Poland

There has been talk of the necessity to stop coal mining in Poland for years. This is dictated by the need to change the country’s energy policy and thus reduce air pollution. When coal is burned, a lot of pollutants are emitted into the atmosphere, which manifests itself in a high level of smog, especially on winter days.

The closure of Polish coal mines is a matter of time, but as it turns out, their extinction will take longer than previously assumed. At the end of May, Deputy Prime Minister Jacek Sasin said during an interview that the earlier plans to introduce gas as a transition fuel for Poland in the face of Russian aggression in Ukraine are no longer valid. It is therefore necessary to switch directly from coal to renewable energy sources, i.e. nuclear energy, and it takes time to modify previous plans. The end date is to be met – 2049, the end of coal mining and the closure of the coal-based energy sector in Poland.

Serbia cooperates with Russia – a new gas contract is already in place

Many world leaders turned their backs on Vladimir Putin and Russia. The European Union introduces an embargo on Russian oil and breaks contracts for gas supplies. However, it is completely different with the President of Serbia, Alexander Vuczic, who spoke by phone with Putin in order to agree a new, three-year contract for supplies from Russia. The gas price is to be tied to the oil price. Here you will find the current energy commodity prices.

Growth on the Warsaw Stock Exchange – Allegro in the spotlight

May 26, 2022 WSE in Warsaw ended the day in the black. This day brought higher quotations of the most important stock exchange indices on the WSE. WIG20 gained 1.69 percent, and WIG index – 1.36 percent The indices recorded a smaller increase mWIG40 – 0.57 percent, or sWIG80 – 0.78 percent

In the WIG20, Allegro was definitely the leader of the growth, which after the publication of the results for the first quarter of 2022, when the company had a net profit of PLN 166.9 million, which is much less than a year ago. The company gained 5.16 percent. on its worth. PGE stocks grew strongly – by 4.41%. on one quotation.

Ethereum – delayed transition to the “Proof-of-stake” system

Ethereum valuation depreciated last week on cryptocurrency exchanges in Europe. All because the participants of the trade were afraid that the introduction of some significant changes on this platform might be postponed.

The chief architect of the Ethereum network, Vitalik Buterin, said that the planned transition to the “Proof-of-stake” system is likely to last until August. Such a change is expected to result in more than 99.9 percent. the energy consumption of the Ethereum network will decrease.

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