Crude oil prices boosted more than 6 percent on Friday to post the largest weekly gain in a month as a decline in U.S. crude inventories fed hopes that a heavy global oversupply may be approaching a turning point after nearly two years. The closure of the Keystone crude pipeline to Cushing, Oklahoma spurred U.S. crude futures. Oil also received support after Russia said its crude output declined in April, ahead of a meeting of major oil-producing countries in Doha intended to freeze output. Brent crude futures rose $2.51, or 6.4 percent, to settle at $41.94 a barrel, attaining a session peak of above $42. U.S. crude futures climbed $2.46, or 6.6 percent, to end at $39.72. Earlier, it climbed to nearly $40.
read more... 11/04/2016
Crude oil prices closed down on Thursday after figures showed robust weekly stockpiles at the U.S. crude storage hub despite a pipeline outage, but prices pared losses on short covering, indicating more volatility ahead. Brent futures eased 41 cents, or about 1 percent, to settle at $39.43 a barrel, backtracking losses from the session low that saw Brent down more than $1, or nearly 3 percent. WTI crude futures ended down 49 cents at $37.26, after plunging as low as $36.69.
read more... 08/04/2016
The state gas network operators of Bulgaria and Romania have inked an agreement with Austrian construction company Habau to accomplish a postponed interconnector connecting the two Balkan nations which is intended at reducing Bulgaria's reliance on Russian gas imports.
read more... 07/04/2016
Norway intends to raise its gas production capacity and is assessing the potential for constructing a pipeline from the Barents Sea to satisfy future demand in Europe, according to its gas system operator Gassco on Tuesday.
read more... 06/04/2016
TransCanada Corp, the Calgary-based energy giant, will buy Columbia Pipeline Group for $10.2 billion, creating one of the largest regulated natural gas transmission businesses in North America.
read more... 18/03/2016