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Daily: Oil retreats on downbeat U.S. inventory report, doubts over OPEC cut
Crude oil prices tumbled on Wednesday on pessimistic U.S. petroleum inventory figures and doubts that output curtailing envisaged by OPEC and Russia would be sufficient to put a cap on oversupply that has put pressure on oil market for more than two years. Brent futures eased 93 cents, or 1.7 percent, to settle at $53.00 a barrel, while U.S. crude fell by $1.16, or 2.3 percent, to close at $49.77.
read more... 08/12/2016
Daily: Brent rockets over 6% after OPEC output deal
Crude oil prices soared 5 percent on Thursday, with Brent crude at its highest level in about 16 months, prolonging gains after OPEC and Russia agreed to reduce output to fight against the global oversupply. Benchmark Brent futures rallied 6.88 percent or $3.47 higher at $53.94. Earlier in the session, prices climbed at $54.53 a barrel, the highest level since July 27, 2015. U.S. crude closed the session at $51.06, up $1.62 or 3.3 percent on the day. Its session high was $51.80 a barrel, 13 cents below its 2016 high.
read more... 02/12/2016
Daily: German spot power contract down on heavy renewable, thermal production
Crude oil prices slipped in a volatile trading on Wednesday, dragged down by a bigger-than-expected U.S. crude stockpiles increase that overshadowed Russia’s statements about a possible meeting with Saudi Arabia that renewed hopes for a production freeze deal. Brent futures lost 32 cents, or 0.7 percent, to settle at $46.63 a barrel, while U.S. crude WTI shed 24 cents, or 0.5 percent, to end at $45.57 per barrel.
read more... 17/11/2016
Putin announces Merkel that gas supplied to EU could be siphoned off in Ukraine
Russian President Vladimir Putin informed Germany's Chancellor Angela Merkel on Monday of the risk of Ukraine siphoning off Russian gas intended for Europe, as stated by the Kremlin.
read more... 15/11/2016
Bulgaria and Romania launch a new natural gas pipeline
On Friday, Bulgaria and Romania have opened a new natural gas pipeline as part of Sofia’s objective to reduce its reliance on Russian gas. Bulgaria currently imports more than 90 percent of its gas from Russia’s Gazprom.
read more... 14/11/2016