Latest news
DONG Energy intends to switch to clean-energy options
Danish company DONG Energy has recently announced that it plans to move its portfolio closer to clean-energy options like bioenergy and offshore wind, and that it considers to sell its oil and gas business.
read more... 27/10/2016
Daily: WTI crude settle below $50 for the first time in a week as OPEC plan is expected to fail
Crude oil prices lost ground on Tuesday, with WTI ending below $50 a barrel for the first time in just a week, dragged down by the possibility that OPEC ‘s plan to slash output will fail after Iraq showed unwillingness to participate in the proposed deal. WTI crude for December delivery crude lost 56 cents, or 1.1%, to end at $49.96 a barrel on the New York Mercantile Exchange. That was the lowest settlement and first finish below $50 since October 17. Brent crude for December delivery fell 67 cents, or 1.3%, to settle at $50.79 a barrel on London’s ICE.
read more... 26/10/2016
Daily: European spot power prices increase sharply on stronger demand, weaker renewables supply
Crude oil prices settled down on Monday on news of the forthcoming restart of Britain’s Buzzard oil field and as Iraq wants to be exempted from OPEC production cuts as it needs more money to fight Islamic State militants. Brent, the international benchmark for crude, lost 32 cents, or 0.6 percent, to close at $51.46 a barrel. Its session low was $50.50. U.S. West Texas Intermediate (WTI) crude declined 33 cents, or 0.7 percent, to end at $50.52.
read more... 25/10/2016
Daily: Oil ends up on Russia-OPEC hopes
Crude oil ended up on Friday on hopes that Russia and OPEC will reach a deal at the weekend aimed to keep crude above $50 a barrel, although traders worried about pressure from a double-digit increase in the U.S. oil rig number. Brent rose 40 cents, or 0.8 percent, to settle at $51.78. For the week, it ended flat. U.S. West Texas Intermediate crude climbed 22 cents, or 0.4 percent, to end at $50.85 a barrel. WTI reached a July 2015 high of $51.93 on Wednesday and ended the week 1 percent higher.
read more... 24/10/2016
Daily: Crude oil prices down 2% as dollar hit seven-month high
Oil prices closed down more than 2 percent on Thursday, as a reviving dollar spurred players to take profit on the previous day’s hike that drove U.S. crude to 15-month highs. The dollar reached seven-month high against a basket of currencies. Benchmark Brent crude for December delivery eased $1.29, or 2.5 percent, to settle at $51.38 per barrel. U.S. West Texas Intermediate (WTI) crude's November contract, which expired as the front-month, declined $1.17, or 2.3 percent, to end at $50.43. WTI's December contract, which will be front-month from Friday, shed $1.19 to settle at $50.63.
read more... 21/10/2016