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Daily: German power price under 30 EUR/MWh for first time since 2003

Crude oil markets recovered more than a percent on Tuesday after a sharp decline in the previous session, even though prices maintained near 6-1/2-year lows since persistent weakness in Chinese equities generated worries of an economic fall in the region.

read more... 25/08/2015


Daily: Crude oil plunges 8% on Greek vote to reject austerity measures

Crude oil prices plunged by about 8 percent on Monday, registering the largest selloff since five months, as Greece’s vote to reject tough economic bailout conditions and China's stock market woes trigged a deepening spiral of losses. The slump was also encouraged by a potential nuclear deal in Iran, which could result in supply glut on oil market. U.S. crude closed at $52.53 a barrel, down $4.40 or 7.7 percent, from its settlement on Thursday and below the 100-day moving average, the biggest percentage drop in a day since early February. Brent crude crashed $3.78, or 6.3 percent, to settle at $56.54, also below the 100-day average.

read more... 07/07/2015


Ithaca decided to vend Norwegian operations to Hungary’s MOL

North Sea oil and gas firm Ithaca Energy has decided to vend its Norwegian business to Hungary's MOL for $60 million, as stated by the companies on Friday, marking the Hungarian firm's entrance into Norway's oil market.

read more... 24/04/2015


Daily: European forward power prices plunge along loses in fuel, carbon prices

Oil markets increased on Friday to stop a two-day decline, aided by expectations that data later in the day would demonstrate a constant drop in the U.S. oil rig count, a clear sign of the pressure the fall in crude has put on crude producers.

read more... 20/02/2015


Daily: Oil strikes the lowest level since April 2009 on U.S. oil rig figures

Global oil markets resumed their decline on Friday, with Brent and U.S. crude striking lows lastly seen in April 2009 and closing down for a seventh consecutive week. Brent crude broke below $49 a barrel but settled above the $50 support level after oil services firm Baker Hughes announced the sharpest drop in 24 years in the number of U.S. oil drilling rigs. Brent crude declined 85 cents to close at $50.11 a barrel, after slipping previously to $48.90. WTI crude fell 43 cents to settle at $48.36, having touched $47.16 earlier.

read more... 12/01/2015